Buy MCX Gold; target of Rs 28890: Dani Commodities

Dani Commodities' report on metals & energy

MCX Gold recovered by 422 per 10 grams and settle at Rs 28787 per 10 grams Active resistance for the contract is at Rs 29200 and 29500 per 10 grams Meanwhile, floor for Gold is active at Rs 28200 per 10 grams any active rallies in Gold towards the resistance can be sold*Gold long term supports of Rs 27390 per 10 grams is eyed by some traders as the potential target if the prices continues the selling channel that activated on 28 August 2013, when Gold tested the peak of Rs 35042 per 10 grams.

MCX GOLD
International: Major Support at USD 1250. Bearish below USD1250.
Domestic: Buy at 28680, Stoploss 28590, Target 28890.

MCX SILVER
International: Major Support at USD19. Bearish below USD19.
Domestic: Buy at 47000, Stoploss 46700, Target 47400.

MCX COPPER
Domestic: Buy at 453, Stoploss 450.90, Target 456

MCX CRUDE OIL
International: Major Support for WTI at USD100 Bullish above USD 100
Domestic: Buy at 6290, Stoploss 6260, Target 6325.

MCX NATURAL GAS
Domestic: Buy at 236, Stoploss 234, Target 239.

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