Seems Recovery in MCX Crude Oil Live Prices, How to Trade?

After the sharp fall in Last week, MCX Crude oil live prices is truly recovered today. In the international market price of crude has jumped nearly 3 percent. NYMEX crude has gone up to $ 39. While Brent is trading above $ 43. MCX crude oil with 0.72 percent decline seems around Rs 2620.

Indeed, Goldman Sachs has said that because of China, In the world at present has not any risk of recession. There is support to crude prices. Meanwhile, the possibility of an emergency meeting of OPEC is expected. Although a reminder that despite the recovery of crude prices still near lows last 6 years.

China's move has put pressure on gold. Gold slipped below $ 1,150 in the international market. While because of recovery in rupee create much of the pressure in the domestic market. At the MCX, gold prices have fallen about 1.5 percent. MCX Silver rate fortoday has also been declining and the price has come down to Rs 35 thousand.

Notably, Friday last week's strong growth in the volume of mcxgold has changed now in decline. Turnover of last friday was around Rs 15 thousand crore. But yesterday it has come down to around 7 thousand crore.

On other side Early fall is over in the mcx base metal. Indeed, China has cut interest rates. August futures of MCX Copper were flat and is trading around Rs 334.

Meanwhile talk about Agri commodity prices, the prices of Chana has increased. In futures prices jumped nearly 1 percent has risen to over 48 hundred. In this year the production of Chana estimated to be less than 72 million tons. Which is the lowest level in the last 6 years. 

MCX Commodity Tips in India:

MCX Copper Tips(August futures): BUY - 332, stoploss - 326 goals - 342

MCX Crude Oil Tips(September futures): BUY - 2615, stoploss - 2525, Target - 2700

Agri Commodity Tips:

NCDEX turmeric (September futures): BUY - 8250, stoploss - 8080, Target - 8350

NCDEX soybean (October futures): BUY - 3120, stoploss - 3110, Target – 3190