Free MCX Tips for 11 July | MCX Live Tips for 11 July

MCX showing downward trend in case of industrial metals and it seems to look gloomy for copper MCX as it fell on Friday, putting the brakes on a two-week rally as a dismal set of U.S. employment data scaled back some recovery optimism. The precious metals are at its best as MCX gold prices on Friday posted their biggest weekly rise since November 2009, achieved after a weak U.S. labor market report renewed fears about the health of the world's biggest economy and spurred safe-haven buying. Oil ended a strong week on a downbeat note on Friday as a dismal U.S. jobs report cast a pall on the economic outlook.

GOLD MCX (AUG)

Trend: Consolidate

Strategy: Buy on dips

RESISTANCE:

R2 - 22752

R1 - 22451

SUPPORT:

S1 - 22181

S2 - 21971

COPPER MCX (AUG)

Trend: Consolidate

Strategy: Buy on dips

RESISTANCE:

R2 - 448

R1 - 440

SUPPORT:

S1 - 429

S2 - 421