Commodity Updates- Crude Trend and MCX Gold Silver Tips for Today

The very first day of the week saw a downfall in NYMEX crude oil prices along with a weak start in COMEX Gold and Silver. International crude prices have witnessed a decline of 1% to trade around $84/barrel and prices are expected to remain negative for the day.

 Gold and Silver are also likely to persist the negative trend Today. Technical charts suggest that trading below 29600 level can invite more downside in Gold august futures while above the level of 29750, we can expect prices to surge up beyond 30000 level.

 Silver on MCX is taking resistance near 52500 but rallies can be seen only above 53200 level. Traders can go for Intraday buy above 52350 for the Targets of 52500-52750. Selling is recommended below 51750 only.


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