Commodities Outlook: Sell Crude, Buy Gold

by khalid on 17/10/2011 · 0 comments

After witnessing a good rise in the previous months Gold saw a little decline in the recent weeks. The experts still feel that Gold is not going the wrong way and it will soon start improving. The Investors can sell copper instead, people can short November Copper on MCX at Rs. 375-380 and place a stop at around Rs. 382. The Investors should have a target price of Rs. 360-365. Investors can sell Crude and start buying Gold as it may soon start improving. In the base metals pack the strategy should be to start going long on copper November contract MCX in the range of Rs. 373-376 People looking at the intraday perspective could expect the target to be around Rs 380. One could also see a level of Rs. 381 for the day and adopt a stop loss of Rs. 371.

Almost all the people in the market are going for a sell call for crude and being range bound. The range remains around Rs. 4,275-4,300 and the stop of 4330 with the target of Rs. 4,200-Rs. 4,150. The experts are mainly focusing on Gold and are also advising the investors to go buy on Gold. The resistance for Gold is near Rs. 27,000. One can remain positive on Gold as long as the gold on the MCX trades above 26,750-26,800.

Bell The Bull says: Crude is not a good buy and one can consider selling it and at the same time Gold may give good returns

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