Daily MCX News
BULLION:
Gold was holding just below its highest in a week on Tuesday as investors bet last week's sluggish U.S. nonfarm payrolls data would deter the Federal Reserve from hiking rates this year. The sluggishness in the U.S. economy, along with weakness in China and volatility in financial markets, could prompt the Fed to hold rates, analysts have said. Members of South Africa's Association of Mineworkers and Construction Union will decide whether to strike at operations of gold companies at a mass meeting on Oct. 11, a spokesman said on Monday.
BASE METAL:
BASE METAL:
Copper futures moved to $2.4340, up $0.0175, or 0.75%. Benchmark copper on the London Metal Exchange traded up 0.7 percent to $5,134 a tonne in official rings. Also, optimism by Japan's Pan Pacific Copper that copper prices will rise to $6,000 a tonne over the next 18 months, driven by global production cuts and demand growth in Asia, although any upside will be limited in 2015. Further, estimates of favorable German Factory Orders data will act as a positive factor.
ENERGY:
ENERGY:
Crude oil prices rose in early Asia trade, adding to gains in the previous session, after Russia signaled it was willing to meet with other big oil producers to discuss the market following the decline in prices in the last quarter. Gains were limited with investors awaiting U.S. government data on crude inventories this week. Some analysts are predicting the data will show further builds in crude stocks, putting oil prices under renewed pressure. A separate meeting between Russian and Saudi officials was being planned for the end of October, Russian Energy Minister Alexander Novak has said.
BULLION & ENERGY
CS GOLD (OCTOBER) OVERVIEW:
TREND : BULLISH
RESIST 2: 26800
RESIST 1: 26600
SUP 1: 26400
SUP 2: 26250
STRATEGY: BUY ON DIPS
CS SILVER (NOVEMBER) OVERVIEW:
TREND : BULLISH
RESIST 2:37400
RESIST 1:37100
SUP1:36385
SUP2:35980
STRATEGY : BUY ON DIPS
CS CRUDE OIL (SEPTEMBER) OVERVIEW:
TREND :SIDEWAYS
RESIST 2:3100
RESIST 1:3070
SUP1:2990
SUP2:2960
STRATEGY: SELL ON RISE
CS NATURAL GAS (SEPTEMBER) OVERVIEW:
TREND :BEARISH
RESIST 2:165
RESIST 1:163
SUP1: 159
SUP2:157
STRATEGY: SELL ON RISE
BASE METAL
CS COPPER (NOVEMBER) OVERVIEW:
CS COPPER (NOVEMBER) OVERVIEW:
TREND
:BEARISH
RESIST
2:348
RESIST
1:346
SUP1:339
SUP2:337
STRATEGY: SELL ON RISE
MCX CRUDE OIL OCT., Monday as seen in the daily
chart opened at 2998 levels and day high of 3067 levels. During this period
price corrected & made day low of 2994 levels finally closed at 3030 levels.
Now, there are chances of further downward movement technically &
fundamentally.
Some analysts are predicting the data will show further builds in crude stocks, putting oil prices under renewed pressure. A separate meeting between Russian and Saudi officials was being planned for the end of October, Russian Energy Minister Alexander Novak has said.
Some analysts are predicting the data will show further builds in crude stocks, putting oil prices under renewed pressure. A separate meeting between Russian and Saudi officials was being planned for the end of October, Russian Energy Minister Alexander Novak has said.
DAILY RECOMMENDATION:
SEL MCX CRUDE OIL AUG., BELOW 3070
LEVELS FOR TARGET OF T1 2970, T2 2920
WITH SL OF 3180 LEVELS.
LEVELS FOR TARGET OF T1 2970, T2 2920
WITH SL OF 3180 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 & Services, Get it Soon !!
Read more at:
Our Some Other Tips & Services, Get it Soon !!
www.capitalstars.com | T:+91-731-6790000,6669900
www.capitalstars.com | T:+91-731-6790000,6669900