Monday, 26 October 2015

Today's Mcx Commodity Market New Update

MCX Dec Silver’s choppy and sideways trading continued last week and stayed in the range of 36600 to 37720 levels. This week’s outlook remains sideways and on a convincing breakout of either side will provide hints about further direction in the counter.

MCX Nov Crude oil prices shed almost 180 points and ended in a negative zone, as the bears have regained the strength for near future. Currently prices are hovering near its key horizontals supports at 2890 levels and on a convincing close below the same will intact further weakness towards 2773 & 2680 levels.

MCX Oct Aluminum continued its downward journey as the price have given a breakdown from the key trend-line support at 99.30 levels and reached to its 2010’s low of 93.85 levels. Overall bearish outlook remains unchanged and further fall is possible towards 91.90 & 88.70 levels. However, an oversold RSI indicates some short covering in the counter and one can utilize the same for fresh shorts at 97.10 levels.

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