Crude and Copper Updates For Today

Crude Updates

Crude oil prices gained on Monday as investors eyed a shaky cease fire in Ukraine. On the NYMEX, crude oil for delivery in March gained 0.56% at $53.97 a barrel. Last week, crude oil futures rallied sharply on Friday, with prices continuing to recover from recent lows amid speculation productions cuts by drillers in the U.S and global oil companies will alleviate a glut in supplies.

NYMEX oil soared $2.37, or 4.85%, to end at $51.21 a barrel, after Russian President Vladimir Putin confirmed that a cease fire deal with Ukraine starting February 15 had been reached, following months of violence. Crude oil prices dipped slightly as a volatile week heads to a close in Asia on Friday. On the New York Mercantile Exchange, crude oil for delivery in March fell 0.13% to $51.15 a barrel.

Copper Updates

LME Inventory for Aluminium declined by 5925 tonne on Friday. Copper held steady near a three-week top on Monday, underpinned by a slightly weaker dollar, as volumes dwindled ahead of Chinese New Year and with a holiday in the United States.

Copper on the LME drifted 0.2 percent to $5,725 a tonne, from the previous session when it hit its highest since Jan. 21 at $5,793.50 a tonne. Total LME benchmark volumes across major contracts were less than 1000 lots. Chinese authorities will cut interest rates, increase liquidity and tolerate some currency weakness to ensure the economy grows around 7 percent this year, as they try to head off deflation and keep employment strong enough to push on with reforms, policy insiders say.

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MCX Updates And Intraday Trading Tips For Today

MCX Updates 

Gold dunked as an uptick in the dollar balance the strong effect of concerns over Greece's future in the euro zone and reasons for alarm over heightening brutality in Ukraine.

Silver edged lower taking after bits of gossip about a conceivable six-month expansion on Greece's obligation.

Crude Oil dropped as bears came back to the business after the IEA cautioned of more selloffs in the close term as worldwide oil inventories keep on climbing.

Copper fell as stresses over China's monetary development and the standpoint for interest reemerged, however misfortunes were constrained by supply interruptions.

Zinc costs edged lower after information demonstrated that swelling in China impede to the most minimal level in five years, subordinate concerns over a log jam in economy

Natural Gas costs mobilized as gauges for more icy throughout the following two weeks helped warming interest desires.

Intraday Trading Tips For Today

Sell MCX Feb Nickel between 930-932 Levels with a stop loss at 942 and a Target of 915

Sell MCX Feb Crude Oil between 3190-3200 for the Target of 3150 and put a stop loss at 3230

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