MCX COMMODITY TRADING ADVICE FOR TODAY:-
US crude tumbled
below $27 a barrel in Asia today as the over saturated market
struggled to cope with high inventories in the United States and an
increased output from OPEC.
The decline came
despite the weekly US Department of Energy report which is generated and showing US oil
stocks fell about 800,000 barrels for the week ending February 5,
with traders seeing inventories still at high levels.
Nickel prices up by 0.15% to Rs 548.50 per kg in futures trade today as traders
built up fresh and new positions, driven by a firming trend overseas and
pick-up in demand at the domestic spot markets.
At Multi Commodity
Exchange, nickel for delivery in far-month March moved up by 80
paise, or 0.15%, to Rs 548.50 per kg, in a turnover of 219
lots.
Copper prices fell
further by 0.46% to Rs 302.75 per kg in futures trading today as
participants engaged in reducing their positions, tracking a weak or
negative trend at spot market on low demand.
NATURAL GAS TREND TODAY:-The current or market price of Natural Gas was rs.142.60.According to the research experts it will take the support price of rs.137.10 and 133.10 as support levels .On the other hand,Natural Gas will take the resistance price of rs.146.10 and 150 as resistance levels.
ALUMINIUM TREND TODAY:-The current or market price of Aluminium was rs.102.10.According to the research experts it will take the support price of rs.100.80 and 99.80 as support levels .On the other hand,Aluminium will take the resistance price of rs.102.70 and 103.80 as resistance levels.