Daily MCX News
BULLION:
Gold dipped slightly on Monday after a three-day rally, but the metal still held close its highest in nearly three weeks, as the Federal Reserve's move last week to leave U.S. interest rates unchanged weighed on global equities. A majority of Wall Street's top banks now expect the Fed to begin increasing rates in December, according to a Reuter’s poll conducted on Thursday after the Fed's policy decision. Russia's gold reserves rose to 42.4 million troy ounces as of Sept. 1, compared with 41.4 million troy ounces a month earlier, the central bank said on Friday.
BASE METAL:
worries about soft global economy growth, igniting by the unchanged US interest rate. LME copper finally ended at a session low of USD 5,233/mt, slumping USD 162/mt or 3%. A delay in US interest rate hike gave no support to market and the reasons for the rate delay depressed commodity prices. US dollar index swung wildly following the unchanged US rate and finally returned above 95. LME copper should move at lows in USD 5,200-5,240/mt during Asian trading hours.
ENERGY:
Oil prices edged up in
early trading in Asia on Monday as U.S. drilling slowed and analysts estimated
that $1.5 trillion worth of planned American production was uneconomical at
prices of $50 per barrel or lower. Analysts said the low prices were beginning
to impact production as drillers slow down new projects, especially in
cost-sensitive North America where drillers react fast to changing prices. U.S.
energy firms cut oil rigs for a third week in a row last week, a sign that the
latest crude market weakness was causing drillers to put on hold production plans,
triggering a slight increase in prices on Monday.
BULLION & ENERGY
CS GOLD (OCTOBER) OVERVIEW:
TREND : BULLISH
RESIST 2: 26690
RESIST 1: 26520
SUP 1: 26350
SUP 2: 26250
STRATEGY: BUY ON DIPS
CS SILVER (NOVEMBER) OVERVIEW:
TREND : BULLISH
RESIST 2:36775
RESIST 1:36420
SUP1:35850
SUP2:35500
STRATEGY : BUY ON DIPS
CS CRUDE OIL (SEPTEMBER) OVERVIEW:
TREND :BEARISH
RESIST 2:3150
RESIST 1:3110
SUP1:2925
SUP2:2880
STRATEGY: SELL ON RISE
CS NATURAL GAS (SEPTEMBER) OVERVIEW:
TREND :BEARISH
RESIST 2:178
RESIST 1:175
SUP1: 171
SUP2:168
STRATEGY: SELL ON RISE
BASE METAL
CS COPPER (NOVEMBER) OVERVIEW:
CS COPPER (NOVEMBER) OVERVIEW:
TREND :BEARISH
RESIST 2:364
RESIST 1:362
SUP1:349
SUP2:346
STRATEGY: SELL ON RISE
COMMODITY PICK OF THE DAY:
MCX GOLD
MCX CRUDE OIL MCX CRUDE OIL SEP., Friday as seen
in the daily chart opened at 3084 levels and day high of 3098 levels. During
this period price corrected & made day low of 2953 levels finally closed at 2960 levels. Now, there are chances
of further downward movement technically & fundamentally.
Analysts said the low prices were beginning to impact production as drillers slow down new projects, especially in cost-sensitive North America where drillers react fast to changing prices.
Analysts said the low prices were beginning to impact production as drillers slow down new projects, especially in cost-sensitive North America where drillers react fast to changing prices.
DAILY RECOMMENDATION:
BUY MCX CRUDE OIL AUG., BELOW 3020
LEVELS FOR TARGET OF T1 2920, T2 2870
WITH SL OF 3140 LEVELS.
LEVELS FOR TARGET OF T1 2920, T2 2870
WITH SL OF 3140 LEVELS.
Get real time advice for Stock Market, Forex, Comex. Stock trading tips, Forex, Commodity Online like gold, silver, intraday bullion trading, copper, crude trading tips and all market updates. Our Special Services like Equity King, Bullion King & Agri King. We Provide Stock trading tips. For 2 Days Free Trial, please visit our site……
Read more at:
Our SOME Other tips, Get it Soon !!
Our SOME Other tips, Get it Soon !!
www.capitalstars.com | T:+91-731-6790000,6669900
www.capitalstars.com | T:+91-731-6790000,6669900
