MCX market view for 29/01/2013

MCX Gold

International Gold traded 7 dollars higher from Yesterday MCX closing price. Yesterday Gold fell because of  U.S Rating agency Fitch, scaled back the possibility of AAA rating for U S.It mentioned that recent deal on the country's debt limit removed the near term risk of a cut, but warned that the danger to the U.S. rating is not over yet.

The Gold rallied for 12 years through 2012 Central banks around the world are expanding their holdings to diversify their reserves.

Yesterday MCX April contract Gold Closing price 30882

MCX Gold having support at  30895.MCX gold likely to trade higher today.As per MCX Daily Chart,Technically move upwards if today open higher than yesterday close.

MCX Gold Resistance  30936,31048,31269

MCX Gold Support       30860,30705,30660

  Yesterday MCX Gold Bhav Copy for Data Reference

Commodity	Contract	Open	High	Low	Close
GOLD	5-Feb-13	30337	30427	30278	30338
GOLD	5-Apr-13	30910	30963	30830	30882
GOLDM	5-Mar-13	30682	30738	30572	30623
GOLDM	5-Feb-13	30380	30445	30293	30355

MCX Silver

Yesterday MCX Silver Closing price 57762

Silver also traded nearly 20 cents higher from Yesterday MCX closing price.MCX Silver Lower band of bollinger band at 57285.

MCX Silver Resistance   57940,58170,58430
MCX Silver Support        57555,57285,56970

Yesterday MCX Silver Bhav Copy for Data Reference

Commodity	Contract	Open	High	Low	Close
SILVER	5-Mar-13	58151	58454	57677	57762
SILVER	4-May-13	59546	59840	59081	59159
SILVERM	28-Feb-13	58450	58490	57710	57789
SILVERM	30-Apr-13	59533	59898	59130	59198
SILVERMIC	28-Feb-13	58330	58473	57711	57787
SILVERMIC	30-Apr-13	59650	59898	59125	59192

MCX Crude Oil

Crude Oil traded 30 cents higher from Yesterday MCX Closing level. MCX 

Crude oil struggle to trade above resistance of 5236

Yesterday MCX Crude oil Closing price 5213

MCX Crude oil Resistances    5236,5254,5276

MCX Crude oil Supports         5204,5191,5179

Yesterday MCX Crude oil Bhav Copy for Data Reference

Commodity	Contract	Open	High	Low	Close
CRUDEOIL	19-Feb-13	5190	5235	5175	5213
CRUDEOIL	19-Mar-13	5233	5279	5220	5257

MCX Copper

Yesterday MCX Copper Closing price 438.4

Copper Trading one dollar higher than yesterday MCX closing price.London copper rose on today after the  United States business spending survey suggested a recovery was taking root, but traders should be  cautious ahead of  tomorrow U.S. monetary policy meeting.

MCX copper gave close above strong support at 438.  Yesterday copper 

was taking support at 436.If copper opens below 436,likely to fall up to

432.

Yesterday MCX Copper Bhav Copy for Data Reference

Commodity	Contract	Open	High	Low	Close
COPPER	28-Feb-13	436.35	439.8	436.1	438.4
COPPERM	28-Feb-13	436	439.75	436	438.4

                                                                                                                                                                                                                                      

MCX Copper Resistances     440.40,441.50,443.90

MCX Copper Supports          436.00,434.70,432.30


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• MCX Commodities Weekly Supports Resistances for Jan'28'2013

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