Commodity News

 Crude Oil prices Rallied

 US crude futures rebounded today after the  deal between Saudi Arabia and Russia to freeze oil output at January levels would lead to a wider pact among producers that could eventually see production cuts to support prices. US crude had risen 24 cents to USD29.28 a barrel by 0033 GMT, after ending the previous session down 40 cents.

Top oil producers Russia and Saudi Arabia on Tuesday finally agreed to limit oil production at January levels, and other oil exporters also joined in. Iraq, Qatar and Venezuela said they would freeze output at January levels provided a deal could be agreed, while OPEC member Iran could be offered special terms to freeze oil production levels, sources said.

Oil prices initially increases on Tuesday on news of the deal but early gains were wiped out on the realisation there would be no immediate supply cuts to tackle global oversupply as the changes will be taking place gradually to stablize the situation

Commodity Advice:

SELL:

Crude oil MCX with entry 2020 and Target 1920

Natural Gas MCX with Entry 132 and target 124

MCX Intraday Trend

MCX gold is trading in down trend and is recommended to sell MCX gold contract for the month of April between Rs 29,630 per 10gm and Rs 29,650 per 10gm. MCX crude is trading in a uptrend and recommended to buy mcx crude and buying strategy for mcx crude is buy at around Rs 4,950-4,960 per barrel with a stop loss at Rs 4,920 per barrel and a target on the upside at around Rs 5,010-5,020 per barrel.

MCX Gold Tips Crude Trend

MCX gold is trading in a down trend and still not recovered from the losses Gold (Apr) contract is trading in a down trend and currently gold mcx is trading at a price of 29623 levels with a change of 0.40% and a price change of 119 Rs. The Gold is advised to sell for today's session. The silver is also trading down and with precious metals other sectors such as base metals and energy is also trading down. The crude mcx is down by 0.55% and with a price of 5074 with a change of 28 Rs.

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MCX Gold Tips Trend for Today

MCX gold recovered from its losses and again started trading in a uptrend and is advised to buy gold for today. The gold is currently trading at a price of 30056 with a minimal gain of 0.07 % at the market. The gold is slight bullish but decline is expected in the market while silver is trading in a down trend. selling silver is advised for this session. MCX crude is also trading in a down trend. The crude is also recommended to sell for today's session.

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MCX Gold Crude Tips Trend

MCX Crude traded in a uptrend and is recommended to buy mcx crude oil Feb Futures at 5210 levels with a target of 5260 and stop loss of 5180. MCX Gold is currently trading at a price of 5234 levels with a gain of 0.11% gain. MCX Gold has also recovered from the down trend and is now trading bullish and is advised to buy gold (Feb) near 30200 levels with a target of 30400 levels and with a stop loss of 30100 levels.

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MCX Metals Gold Silver Tips Trend

At MCX mixed sentiments are seen in base metals business. MCX Copper prices fell by 0.23 percent. MCX Lead and MCX zinc are also trading in a down trend. At MCX market the down side pressure is clearly visible today at international market and mixed at domestic market. MCX Copper is currently trading at Rs 447.65 down 0.23 percent. Although nearly 0.5 per cent on MCX Aluminum and nickel rose 0.25 per cent. Rupee against the dollar has weakened. Although the domestic market is still down with gold and silver are traded. Currently, with a decline of 0.15 percent on MCX gold is trading at Rs 30890. The silver is trading at 0.25 per cent to Rs 58530 apart. MCX crude oil is trading at Rs 5130, with a slight decline.

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MCX Crude Bullish Trend Tips

MCX Crude oil has gained today and rise more than 1 per cent in the domestic market. Crude oil in the international market is trading up 1.5 per cent. MCX crude oil is trading around Rs 5160 with a gain of 1.06% percent. Strengthening of the rupee against the dollar is taking place and due to which softening in gold and silver is returning. MCX gold is trading flat at Rs 30,787 Rs with a gain 0.01 percent, while silver is trading at Rs 58229 levels. There is 0.5-1 per cent in base metals on MCX. Copper surged 0.5 per cent to Rs 450 is exceeded.

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