Thursday, 23 July 2015

Daily Commodity Market Trading News and Tips

MCX Aug Gold was begun the day with a gap down and there after continued the same trend and reached to its 2011’s low of 24670 levels. Further fall remains in-line towards 24545 & 24410 levels. However, any rise can be utilized to sell at 24760 levels.

U.S. home resales rose in June to their highest level in nearly 8-1/2 years, a sign of pent-up demand that should buoy the housing market recovery and likely keep the Federal Reserve on track to raise interest rates later this year.

In-line with our earlier report, MCX Aug Copper was extended the fall towards 343.40 levels and ended down by 1.60%. Bearish outlook remains intact and fall can be possible towards 341 & 338 levels, where as a resistance resides at 346.20 levels. 

U.S. natural gas futures gained a couple cents to a one-week high on Wednesday on forecasts for steady, warmer-than-normal weather as the market awaits direction from the storage report.
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