MCX Trade Tips

"MCX Gold Trading" Strategy for Today:

MCX gold falls, resistance at Rs.2880-29331
MCX gold gains, resistance at Rs.28915-28978
It holds small intraday profit but with some tight stop-loss
There is Possibility of move up in coming days and hold long position.

"MCX Trading" Tips: Gold futures recovered from lows under $1770 per ounce today for quoting around $1780 per ounce mark on bargain hunting.

MCX GOLD GUINEA February contract was trading at Rs 22706.00 down Rs 14.10, or 0.07% and touches an intraday high of Rs 22727.00 and an intraday low of Rs 22918.00. So far 1581 contracts have been traded.

Silver is well-known volatile, white metal had a delighted performance since the beginning of the year 2012. Silver is one of the top players for the month of January 2012 which returns handsome more than 19.36% at the international frontier. More information about MCX Silver visit my site mcx-trade-tips.blogspot.com

Though, at MCX, rupee appreciation has limited the upside.In the latest US CFTC commitment report of traders report, profitable net short positions have been gradually increasing while large speculators are steadily adding to their net long positions. Commercial are commonly hedgers while large speculators are big banks, institutions and HNI.

Today MCX Silver Looks good and decline to buy opening after making a high of 57210 and above, was not able to sustain and made a low of 55851 and close above 56220. As long as holds the 55110-level, trend is positive and buying opportunity. Higher-level major breakthrough above 57540 if crossover with volume.

GOLD (April)
The overall trend is sideways for today but any decline to buy opportunity. In the last week it made a high of 28341, a low of 27568, and is managed to close above 291400 indicating small trading range. Any dip to buying opportunity considering resistance 28510.