Friday, 28 August 2015

Most Accurate Mcx and Commodity Tips Provider

MCX Nov Copper has developed a “falling wedge” chart pattern on intraday charts and the neck-line breakout of the same took place at 342 levels, which will act as a support now. According to chart pattern the length between top to bottom will be upside target i.e. 357 levels, meanwhile 349.30 & 354 will also act as an immediate hurdle on upside.

MCX Sep Crude oil; saw some short covering in the counter by violating its falling trend-line resistance at 2674 levels and surged almost 7% on daily charts. Further recovery can be possible towards 2856 & 2910 levels, where as an immediate support pegged at 2753 levels. 

NCDEX Sep Guar gum prices rose to as high as 9400 levels, but couldn’t sustain at higher levels and reversed the uptrend by forming a “bearish engulfing” candlestick pattern on daily charts. Now the bias shifted on downside and is likely to extend the fall towards 50% Fibonacci level of 8477 levels. Hence, any rise can be utilized to create shorts at 8810 levels.

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