Daily MCX News
BULLION:
Gold added to overnight losses on Thursday, hurt by a stronger dollar and equities, and as investors awaited a key U.S. jobs report later this week to gauge the timing of a Federal Reserve rate hike. Markets in China, a major gold consumer, are closed on Thursday and Friday for public holidays, and the absence of Chinese buyers could weigh further on the metal's prices. Traders were awaiting August U.S. nonfarm payrolls data on Friday to gauge the strength of the economy and its impact on the timing of a rate hike by the Fed. The U.S. central bank has pegged the likelihood of a rate increase to the strength of economic data.
BASE METAL:
Markets in China, are closed on Thursday and Friday for public holidays. Base metals prices seesawed around previous closing levels during the LME premarket on Wednesday, with business flows slowing while the short-term ranging phase continues, traders said. The Federal Reserve rate hikes as well as the current state of the U.S. economy. According to Schiff, he doesn’t think the central bank actually wants to raise interest rates, as markets perceive. “I don’t think they’re really considering it,” Schiff says.
ENERGY:
ENERGY:
Oil fell on Thursday on an unexpected build in U.S. crude stocks and a stronger dollar, but a recovery in Asian shares after Wall Street posted a near 2-percent gain overnight helped support prices. Oil would be well supported at around $42-$44 a barrel, he said. If it returns to below that, four or five economies are going to falter. OPEC production cuts would only come into play if there is a sustained fall in oil prices, Barratt said.
BULLION & ENERGY
CS GOLD (OCTOBER) OVERVIEW:
TREND : BEARISH
RESIST 2: 26970
RESIST 1: 26840
SUP 1: 26620
SUP 2: 26500
STRATEGY: SELL ON RISE
CS SILVER (SEPTEMBER) OVERVIEW:
TREND : BEARISH
RESIST 2:35970
RESIST 1:35670
SUP1:35000
SUP2:34800
STRATEGY : SELL ON RISE
CS CRUDE OIL (SEPTEMBER) OVERVIEW:
TREND :BEARISH
RESIST 2:3175
RESIST 1:3125
SUP1:3000
SUP2:2875
STRATEGY: SELL ON RISE
CS NATURAL GAS (SEPTEMBER) OVERVIEW:
TREND :SIDEWAYS
RESIST 2:182
RESIST 1:180
SUP1: 174
SUP2:172
STRATEGY: BUY ON RISE
BASE METAL
CS COPPER (NOVEMBER) OVERVIEW:
CS COPPER (NOVEMBER) OVERVIEW:
TREND :BULLISH
RESIST 2:352
RESIST 1:349
SUP1:344
SUP2:340
STRATEGY: BUY ON DIPS
COMMODITY PICK OF THE DAY:
MCX GOLD
MCX CRUDE OIL SEP., Monday as seen in the daily chart opened at 2993 levels and day high of 3260 levels. During this period price corrected & made day low of 2917 levels finally closed at 3230 levels. Now, there are chances of further upward movement technically & fundamentally.
The market will now take its cue off of industry data on U.S. stockpiles from the American Petroleum Institute later in the day. On Wednesday, the U.S. Department of Energy will release more-closely watched figures on crude and refined product stocks.
DAILY RECOMMENDATION:
The market will now take its cue off of industry data on U.S. stockpiles from the American Petroleum Institute later in the day. On Wednesday, the U.S. Department of Energy will release more-closely watched figures on crude and refined product stocks.
DAILY RECOMMENDATION:
BUY MCX CRUDE OIL AUG., BELOW 2965
LEVELS FOR TARGET OF T1 3065, T2 3115
WITH SL OF 2845 LEVELS.
LEVELS FOR TARGET OF T1 3065, T2 3115
WITH SL OF 2845 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……
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 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.
www.capitalstars.com | T:+91-731-6790000,6669900
CapitalStars Financial Research Financial Advisory Services
CapitalStars Financial Research Financial Advisory Services
