Latest MCX market News 11-May

MCX Crude Oil may trade sideways to bullish; support 5200

For intra-day, crucial support for the commodity is seen at 5200 while 5250 is the resistance. If prices break 5250 level, then the commodity is expected to move towards 5280 level. MCX crude oil for May delivery opened on a negative note following poor buying sentiments in the international market. The commodity was trading down by 0.27% at Rs.5213 per barrel as of 05.27 PM IST on Friday.

MCX Silver may trade sideways; support at 44600 level 

For intra-day, the commodity has support at 44600 while 45500 is the resistance. If silver breaks the level of 44600 than further downside can be expected till 44200 levels. Also, those who are holding sell position should maintain the stop loss at 45500 level for intra-day trade. 

MCX Natural Gas bearish; support at 213 leve

For intra-day, the commodity has support at 213 while 220 is the resistance. Traders may sell around 216 with the stop loss of 220 for target 210

Gold prices up in futures trade on global cues

 Speculators enlarged their positions amid a firm global trend helped the gold prices go up by 0.28 per cent to Rs 27,168 per 10 gm in futures trade on Thursday.

Gold for delivery in June rose by Rs 75, or 0.28 per cent, to Rs 27,168 per 10 gm in business turnover of 2,794 lots at the Multi Commodity Exchange.

Similarly, the yellow metal for delivery in August traded higher by Rs 66, or 0.24 per cent, to Rs 27,448 per 10 gm in 265 lots.

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