Mcx Hot Tips Today

Market Wrap:

·         Gold futures for August delivery fell 1.2 percent
·         dollar jumped as much as 1.1 percent against
·         Crude slide from nine-month high

Gold declined to the lowest in four weeks after the Federal Reserve Chairman Ben S. Bernanke said the central bank may “moderate” the pace of U.S. bond purchases later this year. The dollar jumped as much as 1.1 percent against a basket of major currencies.

GOLD (AUG)
Trend       • Consolidate
Strategy      • Buy  on dips
Resistance  • R2 - 28480 ;  R1 - 28150
support       • S1 – 27750 ; S2 – 27480

SILVER (JUL)
Trend          • Consolidate
Strategy      • Buy  on dips     Resistance  • R2 - 45750; R1 - 44870           
support       • S1 - 42450; S2 – 41200

COPPER (JUN)
Trend       • Consolidate
Strategy      • Sell  on high
Resistance  • R2 - 425 ;  R1 - 416
support       • S1 – 403 ; S2 –395

CRUDE (JUNE)
Trend          • Consolidate
Strategy      • Buy  on dips   
Resistance  • R2 - 5935; R1 - 5850           
support       • S1 - 5680; S2 –5590

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