Daily MCX News
BULLION:
Gold steadied early on Thursday after suffering its biggest fall in five weeks the session before as Wall Street rallied, while comments from a top Federal Reserve official that a U.S. rate hike next month looks "less compelling" could support sentiment. New York Fed President William Dudley said the prospect of a September rate rise seems less appropriate given the threat posed to the U.S. economy by recent market turmoil. Investors are also keeping an eye on Chinese markets after wild swings this week that fueled a global rout. On Wednesday, China's key indexes ended down for a fifth straight session after swinging more than 3 percent in both directions in extreme volatility.
BASE METAL:
BASE METAL:
Gold steadied early on Thursday after suffering its biggest fall in five weeks the session before as Wall Street rallied, while comments from a top Federal Reserve official that a U.S. rate hike next month looks "less compelling" could support sentiment. New York Fed President William Dudley said the prospect of a September rate rise seems less appropriate given the threat posed to the U.S. economy by recent market turmoil. Investors are also keeping an eye on Chinese markets after wild swings this week that fueled a global rout. On Wednesday, China's key indexes ended down for a fifth straight session after swinging more than 3 percent in both directions in extreme volatility.
ENERGY:
ENERGY:
Oil prices climbed early on Thursday on an unexpected fall in U.S. crude inventory last week, but a stronger dollar dragged. Data released on Wednesday showed U.S. non-defence capital goods orders excluding aircraft increased 2.2 percent in July, the biggest rise since June last year and handily beating expectations. U.S. crude inventories fell 5.5 million barrels in the week to Aug. 21, the biggest one-week decline since early June, data from the Energy Information Administration showed on Wednesday
BULLION & ENERGY
CS GOLD (OCTOBER) OVERVIEW:
TREND : BEARISH
RESIST 2: 26720
RESIST 1: 26600
SUP 1: 26280
SUP 2: 26060
STRATEGY: SELL ON RISE
CS SILVER (SEPTEMBER) OVERVIEW:
TREND : BEARISH
RESIST 2:34160
RESIST 1:33890
SUP1:33300
SUP2:33000
STRATEGY : SELL ON RISE
CS CRUDE OIL (AUGUST) OVERVIEW:
TREND :BEARISH
RESIST 2:2710
RESIST 1:2670
SUP1:2600
SUP2:2570
STRATEGY: SELL ON RISE
CS NATURAL GAS (AUGUST) OVERVIEW:
TREND :BEARISH
RESIST 2:183
RESIST 1:181
SUP1: 177
SUP2:175
STRATEGY: SELL ON RISE
BASE METAL
TREND :BEARISH
RESIST 2:338
RESIST 1:336
SUP1:329
SUP2:326
STRATEGY: SELL ON RISE
COMMODITY PICK OF THE DAY:
MCX GOLD
MCX CRUDE OIL SEP., Wednesday as seen in the daily
chart opened at 2618 levels and day high of 2661 levels. During this period
price corrected & made day low of 2583 levels finally closed at 2611 levels. Now, there are chances of further downward
movement technically & fundamentally.
Data released on Wednesday showed U.S. non-defence capital goods orders excluding aircraft increased 2.2 percent in July, the biggest rise since June last year and handily beating expectations.
Data released on Wednesday showed U.S. non-defence capital goods orders excluding aircraft increased 2.2 percent in July, the biggest rise since June last year and handily beating expectations.
DAILY RECOMMENDATION:
SELL MCX CRUDE OIL AUG., BELOW 2670
LEVELS FOR TARGET OF T1 2570, T2 2520
WITH SL OF 2800LEVELS.
LEVELS FOR TARGET OF T1 2570, T2 2520
WITH SL OF 2800LEVELS.
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CapitalStars is a research house and an investment advisory company carrying out operations in the Indian Equities and commodity market. We generate intraday as well as delivery calls in Stock cash and F&O in NSE & BSE, Commodities including bullions, metals & Agro- commodities traded in MCX and NCDEX.
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