Daily MCX News
BULLION:
Gold prices tread water on Tuesday in Asia as investors squared positions ahead of a Federal Reserve review of monetary policy this week that could finally pull a trigger on higher rates. On the Comex division of the New York Mercantile Exchange, gold for December delivery traded at $1,107.70, up 0.01%, while silver for December delivery fell 0.03% to $14.375 an ounce. Investors await the FOMC highly-anticipated two-day meeting starting on Wednesday. The Fed's benchmark rate, which banks use to lend to other institutions on overnight loans, has remained at its current level between zero and 0.25% since December, 2008.
BASE METAL:
The latest monthly commodities report published by Societe Generale predicts lower growth rate in global copper consumption during 2015. The apparent slowdown in China and other emerging markets may cut the consumption growth to 2.5% this year. This is upon comparison with the global consumption growth of 4.5% recorded during the previous year. With the overall bearishness in market and a lack of major reports on Tuesday, LME copper will range between USD 5,270-5,340/mt during Asian trading hours.
ENERGY:
Crude oil gained in early Asia on Tuesday with investors focused on U.S. stockpile estimates from the American Petroleum Institute later in the day. On the New York Mercantile Exchange, WTI crude for October delivery rose 0.17% to $44.16 a barrel. Crude futures are down by nearly 60% since peaking above $100 a barrel in the summer of 2014. Last November, OPEC roiled global energy markets with its decision to keep its production ceiling above 30 million barrels per day in an effort to defend its market share.
BULLION & ENERGY
CS GOLD (OCTOBER) OVERVIEW:
TREND : BEARISH
RESIST 2: 26290
RESIST 1: 26200
SUP 1: 25980
SUP 2: 25900
STRATEGY: SELL ON RISE
CS SILVER (NOVEMBER) OVERVIEW:
TREND : BEARISH
RESIST 2:35500
RESIST 1:35175
SUP1:34550
SUP2:34370
STRATEGY : SELL ON RISE
CS CRUDE OIL (SEPTEMBER) OVERVIEW:
TREND :BEARISH
RESIST 2:3050
RESIST 1:2990
SUP1:2880
SUP2:2840
STRATEGY: SELL ON RISE
CS NATURAL GAS (SEPTEMBER) OVERVIEW:
TREND :BULLISH
RESIST 2:187
RESIST 1:185
SUP1: 180
SUP2:178
STRATEGY: BUY ON DIPS
BASE METAL
CS COPPER (NOVEMBER) OVERVIEW:
CS COPPER (NOVEMBER) OVERVIEW:
TREND :BEARISH
RESIST 2:367
RESIST 1:364
SUP1:357
SUP2:354
STRATEGY: SELL ON RISE
COMMODITY PICK OF THE DAY:
MCX GOLD
MCX CRUDE OIL SEP., Monday as seen
in the daily chart opened at 2985 levels and day high of 2985 levels. During
this period price corrected & made day low of 2901 levels finally closed at 2923 levels. Now, there are chances of
further downward movement technically & fundamentally.
Crude oil gained in early Asia on Tuesday with investors focused on U.S. stockpile estimates from the American Petroleum Institute later in the day.
Crude oil gained in early Asia on Tuesday with investors focused on U.S. stockpile estimates from the American Petroleum Institute later in the day.
BUY MCX CRUDE OIL AUG., BELOW 2975
LEVELS FOR TARGET OF T1 2875, T2 2825
WITH SL OF 3095 LEVELS.
LEVELS FOR TARGET OF T1 2875, T2 2825
WITH SL OF 3095 LEVELS.
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CapitalStars Financial Research Private Limited is an advisory company incepted with a vision of providing fair and accurate trading and investment calls in share and commodity market. CapitalStars also aveliable on social network
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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CapitalStars Financial Research Financial Advisory Services
CapitalStars Financial Research Financial Advisory Services
