Daily MCX News
BULLION:
Gold held close to its highest in nearly two weeks on Wednesday, as more sluggish U.S. economic data supported investor views that the Federal Reserve will delay a rate hike to next year. Fed Chair Janet Yellen said last month she expected the U.S. central bank to begin raising rates this year, but weak U.S. economic data since then and caution about the global economy has prompted many to push out expectations. The International Monetary Fund cut its global growth forecasts for a second time this year on Tuesday, citing weak commodity prices and a slowdown in China and warned that policies aimed at increasing demand were needed.BASE METAL:
Copper gave back a bit of its gains to trade at 2.341 as traders were a bit disappointed that China did not announce additional stimulus plans today. Copper jumped yesterday after New York opened, as growing expectations of loose monetary policy in the United States prevailing for longer than expected convinced some consumers to hedge their needs and persuaded funds to cover shorts. Copper plunged by 1.2 percent and dropped to 6-year low on Monday as data showed earnings by industrial companies in China.
ENERGY:
ENERGY:
Crude oil futures rose further in thin Asian trade on Wednesday after breaking out of a month-long trading range on a forecast suggesting a global glut in supply may be easing. Global oil demand is expected to increase by the most in six years as supply from non-OPEC countries stalls, the U.S. Energy Information Administration said in its Short Term Energy Outlook on Tuesday. OPEC Secretary General Abdullah al-Badri told an industry conference in London on Tuesday that the market is improving, suggesting the grouping is unlikely to change its strategy of defending market share.
BULLION & ENERGY
CS GOLD (OCTOBER) OVERVIEW:
TREND : BULLISH
RESIST 2: 27020
RESIST 1: 26840
SUP 1: 26600
SUP 2: 26390
STRATEGY: BUY ON DIPS
CS SILVER (NOVEMBER) OVERVIEW:
TREND : BULLISH
RESIST 2:38020
RESIST 1:37700
SUP1:37070
SUP2:36500
STRATEGY : BUY ON DIPS
CS CRUDE OIL (SEPTEMBER) OVERVIEW:
TREND : BULLISH
RESIST 2:3300
RESIST 1:3260
SUP1:3135
SUP2:3090
STRATEGY: BUY ON DIPS
CS NATURAL GAS (SEPTEMBER) OVERVIEW:
TREND :BEARISH
RESIST 2:166
RESIST 1:164
SUP1: 160
SUP2:158
STRATEGY: SELL ON RISE
BASE METAL
CS COPPER (NOVEMBER) OVERVIEW:
CS COPPER (NOVEMBER) OVERVIEW:
TREND :BULLISH
RESIST 2:350
RESIST 1:348
SUP1:341
SUP2:339
STRATEGY: BUY ON DIPS
COMMODITY PICK OF THE DAY:
MCX GOLD
MCX CRUDE OIL OCT., Monday as seen in the daily chart opened at 3032 levels and day high of 3179 levels. During this period price corrected & made day low of 3005 levels finally closed at 3137 levels. Now, there are chances of further downward movement technically & fundamentally.
Crude oil futures rose further in thin Asian trade on Wednesday after breaking out of a month-long trading range on a forecast suggesting a global glut in supply may be easing.
Crude oil futures rose further in thin Asian trade on Wednesday after breaking out of a month-long trading range on a forecast suggesting a global glut in supply may be easing.
DAILY RECOMMENDATION:
SEL MCX CRUDE OIL AUG., BELOW 3240
LEVELS FOR TARGET OF T1 3140, T2 3000
WITH SL OF 3340 LEVELS.
LEVELS FOR TARGET OF T1 3140, T2 3000
WITH SL OF 3340 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
