Wednesday, 5 August 2015

Daily Commodity Market Trading News and Updates

MCX Oct Gold prices continuing to point lower n the past session on extending its privileged bearish trend. Further bearish outlook remains in-line towards the horizontal support of 24690 levels and on a convincing close below the same will extend till 24560 levels. Hence, upside resistance resides at 24860 levels.

MCX Aug Lead was reversed the downtrend by violating its falling trend-line resistance at 109.55 levels and managed to close well above the same. However, a strong bull close followed by a “pin bar” candlestick pattern on daily charts can lead the prices further up towards 112.15 & 113.60 levels, where as support lies at 110.50 levels.

NCDEX Aug RM Seed was reversed the uptrend from falling channel resistance at 4200 levels and ended down by 1.27% in the past session. Now the view remains weak and is on verge to test the channel support at 4030 levels. However, any bounce can be capped at 4135 levels.

www.marketmagnify.com
Ph: 0731-6619100

No comments:

Post a Comment