DAILY COMMODITY MARKET STRATEGY-27 Feb 2015

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BULLION

Gold April future is trading soft at $ 1,209.30.Silver May future has declined 0.2 per cent at $ 16.595.Platinum April future is up 0.3 at $ 1,177.80.

ENERGY

Crude Oil April future has gained 1.2 per cent at $ 48.76.Brent Oil April future has added 0.4 per cent at $ 60.73.Natural Gas April future is trading on a soft note at $ 2.698.

The MCX March Crude Oil futures after facing strong resistance around the 20-50-DMA are now showing some sign of correction.

Yesterday, the energy contracts tested a high at Rs 3,135, but however erased gains and ended with a significant loss of 2 per cent (62) at Rs 3,055 as the NYMEX Crude Oil prices tumbled.

The MCX Natural Gas March futures extended losses for the straight day and tumbled below 20-DMA (Rs 172) to hit a low of Rs 168, before selling with a huge loss of nearly 5 per cent at Rs 169 owing to significant drop in NYMEX Natural Gas prices on bearish storage data.

BASE METAL

Copper May future has shed 0.5 per cent at $ 2.677.

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Commodity Tips Expert: - commodity tips , mcx trading tips , bullion commodity tips

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