Monday, 29 February 2016

Today's Mcx Commodity News on Precious Metals

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Spot gold prices are trading lower today by 0.3 percent at $1231/oz while MCX gold prices is trading lower by 0.8 percent at Rs.29547 per 10 gms.

Gold fell on Friday as risk appetite spurred after G20 meeting sounded optimistic to support a struggling global economy. However, inflows into SPDR Gold Trust, the top gold ETF, since the beginning of the year have already surpassed outflows for the whole of 2015.

Daily Commodity Market Energy News

WTI oil prices are trading higher today by 2.2 percent at $33.8 per barrel, while MCX oil prices are trading higher by 6 percent at Rs.2336 per barrel owing to news of a meeting of Saudi Arabia, Russia, Qatar, and Venezuela at middle of March. 

Venezuelan oil minister Eulogio Del Pino said his country, Saudi Arabia, Russia, and Qatar had settled on meeting in March. Despite the EIA data showing US crude oil stocks increased to 507.6 million barrels, pushing total domestic crude inventory to other weekly high, prices remained high.

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Base Metals News on Commodity and Mcx Market

LME Copper prices are trading higher by 1.4 percent at $4675/tonne as China's central bank chief, Zhou Xiaochuan, said Beijing still had the room and tools to support the world's second largest economy. 

Also, China's central bank reiterated assurances made on Thursday that it will not use currency depreciation to boost exports. Further, sharp decline in LME stocks supported gains. MCX copper prices are trading higher by 1.4 percent at Rs.319.35 per kg.

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Friday, 26 February 2016

Mcx Market Tips on Base Metals

Daily Commodity Updates On

According to MarketMagnify Bullion report......

Copper. It suggest that prices are making higher highs and lows. It is expected to retest prevoious high of 322.50 levels. On the downside, immediate support is located at 313.35 levels.

Nickel suggests that prices are hovering near crucial support levels. After taking support at 580, prices are expected to bounce till 603 levels.

Zinc which suggest that prices have taken support at 50 percent retracement of the previous upmove. It is expected to rise further till 122.60 levels. On the flip side, immediate support is located at 118.60 levels.




Daily Commodity Gold and Silver Updates

Gold. It suggests that prices are making higher highs and lows. It is expected to rise again towards 29950 levels. On the flip side, immediate support is located at 29255 levels.

Silver. It suggests that prices are expected to hold above 36950 levels. Momentum indicator RSI is expected to remain in bullish range. On the upside, immediate resistance is located at 37920 levels.

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Natural Gas and Crude Oil Report of Commodity Market

Crude Oil. It suggests that prices are trading in sideways zone. It is expected to move further upside till 2300-2360 levels. On the downside, immediate support is located at 2170 and 2115 levels.

Natural gas. It suggest that prices are trading in downtrend. It looks further bearish till 120 levels. On the upside, reversal point is located at 131 levels.

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Thursday, 25 February 2016

Daily Commodity Gold and Silver Updates

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Gold prices moved up yesterday as the global risk-on mood ended with sharp losses in equities and oil prices. Prices firmed above $1230/ounce in overnight trade after the strong inflows in the gold ETFs that underpinned strong demand from institutional investors. 



The pace of inflows in the ETF holdings have been the fastest since the year 2010 and the inflows have exceeded the entire outflows seen in the year 2015.

Silver prices too ended higher in lines with gold prices as US existing home sales for January came in at 5.47 million, besting the economic consensus of 5.37 million, while the Richmond manufacturing index in February stood at -4, a divergence from the 2 prediction. US data due today include the flash services PMI, new home sales and crude oil inventories.

Natural Gas and Crude Oil Report of Commodity Market

Crude oil prices yesterday tumbled down at both the major International benchmarks tracking their individual weaker to negative cues.

March month contract showed losses more than 5.50% registering at Rs.2200/bbl

NG prices yesterday suffered losses more than 1.50% both at NYMEX and MCX.

As per closing basis, NYMEX NG for April month contract registered at $1.829/MMBTu, whereas MCX Ng at Rs.126.80/ MMBTu for March month contract.

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Mcx Market Tips on Base Metals

Base metals surrendered the previous gains in yesterday’s session after the rally in the oil and equity markets looked to reverse as the oil supply glut looked to worsen post the comments from Iran that deal between Saudi and Russia is “Ridiculous. “Zinc slid 2.4 percent to $1,738 a tonne, lead lost 1 percent to $1,710 and nickel was down 1.7 percent at $8,610.

The People's Bank of China (PBOC) set the yuan's midpoint rate at 6.5273 to the dollar before the market opened, down 0.17 percent from the previous fix that has put pressure on the commodity prices further.

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Wednesday, 24 February 2016

Natural Gas and Crude Oil Report of Commodity Market

Daily Commodity Updates On

Crude Oil. It suggests that prices re taking resistance near 2350-2365 zone. Prices are expected to retest lower bollinger band levels. Momentum indicator RSI is suggesting bearish trend.

Natural gas. It suggest that prices are making lower highs and lows. However, it is expected to bottomout in the near term. On the flip side, it has immediate support is located at 122.60 levels.


Mcx Market Tips on Base Metals

Copper. It suggest that prices are making higher highs and lows. On the downside, immediate support is located at 314 levels. Momentum indicator RSI could turn on the upside as it is trading in bullish range of 35-75

Nickel suggests that prices are making making higher highs and lows. Momentum indicator RSI is hovering near overbought line 70 levels. In today's session, prices are expected to trade on bullish note.

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Daily Commodity Gold and Silver Updates

Gold. It suggests that prices are trading in sideways zone. On the upside, immediate resistance is located at 29515 levels. It is expeceted to retest yesterday's low of 28815 levels.

Silver. It suggests that prices are trading in choppy range after having parabolic move in last week. It is expected to retest yesterday's low of 36390 levels. Hence, bias is on the downside.

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Tuesday, 23 February 2016

Daily Commodity Gold and Silver Updates

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As expected MCX GOLD prices moved lower and achieved our short term target of 29100 levels. Technically, it suggests that prices have breached crucial short term trendline levels at 28850 levels. The COMEX Gold price has completed a “Bearish CYPHER Harmonic Pattern” at 1260 levels. The momentum indicator RSI is trading below 50 levels on hourly chart which gives negative confirmation to the prices. For now we expect prices should move lower towards 28550 levels in the coming trading sessions.


Channel pattern breakdown is visible in MCX SILVER prices at 37011 levels on hourly. Counter is trading below its trendline resistance, which adds more bearish bias. Prices are trading below 60 EMA. The momentum indicator RSI has been taking resistance of falling trend line at 50 levels which gives negative confirmation to the prices. For now we expect silver prices to move lower towards 36150 levels in few trading sessions.

Natural Gas and Crude Oil Report of Commodity Market

Inverted head & Shoulder pattern breakout is visible in MCX Crude Oil prices at 2241 levels. Counter is trading above its neck line support, which adds more bullish bias. Moreover, prices are trading above 21 EMA on hourly. 

Furthermore, The momentum indicator RSI is trading above 60 levels which gives positive confirmation to the prices. For now we expect prices to move higher towards 2410 levels in coming trading sessions.

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Mcx Market Tips on Base Metals

MCX Copper prices has bounce above its resistance horizontal trend line in hourly at 318.50 levels. MCX Copper prices is trading above 100 DEMA on hourly, which indicates near term trend remains strong.

Furthermore, The momentum indicator RSI is trading above 60 levels on hourly chart which gives positive confirmation to the prices. For now we expect prices to move higher towards 331 levels in few trading sessions.

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Monday, 22 February 2016

Daily Commodity Gold and Silver Updates

Daily Commodity Updates On

Gold. It suggests that prices are expected to correct down before further upmove. Hence, there is possibility of down move till 29085 levels. On the upside, immediate resistance is located at 29450 levels.

Silver. It suggests that prices are likely to retest lower support of 37050 levels. On the upside, immediate resistance is located at 37760 levels.


Natural Gas and Crude Oil Report of Commodity Market

Crude Oil. It suggests that RSI has made lower highs vis a vis higher highs and lows in prices. However, it is exected to hold above crucial support of 2020 and gain upside till 2190 levels.

Natural gas. It suggest that prices are making lower highs and lows. Hence, it is expected to correct down till trendline support of 122.60 levels. On the upsied, immediate resistance is located at 131.35 levels.

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Mcx Market Tips on Base Metals

Copper. It suggest that prices have broken its immediate resistance of 315 levels. Further, it is expected to gain upside till 321 levels. On the downside, immediate support is located at 311 levels.

Nickel suggests that prices are making making higher highs and lows. It is expected to gain upside till 584 levels. On the flip side, immedaite support is located at 571.50 levels.

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Friday, 19 February 2016

Daily Mcx Commodity Updates On Gold and Silver

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Gold. It suggests that prices are trading in sideways zone. In today's session if it breaks 28740 then it will fall further till 28425 levels. On the upside, immediate resistance is located at 28950 levels.

Silver. It suggests that prices are making head and shoulder pattern. If it breaks 36785 then it will set pattern target of 36100 levels. On the upside, immediate resistance is located at 37475 levels.


Commodity Natural Gas and Crude Oil Report

Crude Oil. It suggests that prices are making higher highs and lows. It is expected to cross immediate resistance of 2154 levels. In today's session it is expected to gain till 2250 levels. Momentum indicator RSI is supporting bullish view.

Natural gas. It suggest that prices are expecte to gain on the upside as it has crossed crucial level of 133.10 levels. On the downside, immediate support is located at 129.20 levels.

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Mcx Market Tips on Base Metals

Copper. It suggest that prices are trading in sideways zone. It is expcted to touch support of 310 in today's session. On the upside, immediate resistance is located at 315 levels. 

Nickel suggests that prices are making lower highs and lows. However, RSI is losing its momentum. Hence, it is expected to give correction till 555.30 levels. On the upside, immedaite resistance is located at 580 levels.

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Thursday, 18 February 2016

Daily Mcx Commodity Updates On Gold and Silver

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Gold
On Tuesday, spot gold prices declined by 0.77 percent to close at $1200 per ounce as global equity markets and the U.S. dollar rose, depressing interest in gold as a safe-haven asset and taking it further below last week's one-year high.

On the MCX, gold prices rose by 0.73 percent to close at Rs.28899 per 10 gms.


Silver
On Tuesday, spot silver prices declined by 0.7 percent to close at $15.2 per ounce. Prices declined in line with fall in gold prices and strengthening dollar index.

On the MCX, silver prices rose by 0.35 percent to close at Rs.37219 per kg.

Commodity Natural Gas and Crude Oil Report

Crude Oil
Oil prices traded lower on Tuesday, with Brent prices declining by around 4.6 percent to close at $30.6 per barrel after top producers Russia and Saudi Arabia dashed expectations of an outright supply cut by agreeing only to freeze output if other big exporters joined them.

On the MCX, oil prices declined by 2.2 percent to close at Rs.1992 per barrel.

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Mcx Market Tips on Base Metals

Base Metals
Base metals on the LME traded mixed on Tuesday as Chinese banks armed with fresh lending quotas extended a record 2.51 trillion Yuan of new loans in January suggests that Beijing is keeping monetary policy loose to counter a protracted economic slowdown, supported the pack.

Copper
LME Copper prices fell by 0.1 percent yesterday to close at $4557 per tonne owing to mixed response to the trade balance data. China’s copper imports at 440,000 tonnes in January were down 17 per cent from December but up 5.3 per cent on the year.

MCX copper prices rose by 0.2 percent to close at Rs.311 per kg on Tuesday owing to Rupee depreciation.

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Wednesday, 17 February 2016

Commodity Natural Gas and Crude Oil Report

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Crude Oil. It suggests that prices are expected to gain further upside till 2140 levels. Any pullback till 2090 would be buying opportunity. On the flipside, immediate support is located at 2060 levels.

Natural gas. It suggest that prices are likely to bottomed out in the near term. On the downside, prices have immediate support at 130.80 levels. It has potential to regain till 136.25 levels.


Daily Mcx Commodity Updates On Gold and Silver

Gold. It suggests that prices are expected to give pullback on the upside till 28860 levels. On the downside, immediate support is located at 28030 levels.

Silver. It suggests that prices are likely to gain on the upside till 37650 levels. On the downside immediate support is located at 36425 levels.

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Mcx Market Tips on Base Metals

Copper. It suggest that prices are making higher highs and lows in intraday parameter. On the downside, immediate support is located at 310 levels. It has potential to gain upside till 317.50 levels.

Nickel suggests that prices are trading on bullish note. It has potential to gain upside till 587 levels. On the downside, immediate support is located at 553.20 levels.

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Tuesday, 16 February 2016

Mcx Market Tips on Base Metals

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Copper settled up 1.22% at 310.25 rallied on hopes that China would unleash fresh easing measures to kickstart its economy after January trade was dragged down by faltering growth in global markets. Copper on the London Metal Exchange had climbed 0.7 percent to $4,591 a tonne adding to a 1.4 percent advance in the previous session. Meanwhile China's economy faces great challenges and new uncertainties brought about by the global economic environment and various countries' ailing stock markets, Premier Li Keqiang said on Monday. 


Nickel settled up 5.67% at 564.40 gained tracking LME nickel prices which rallied 3 percent, having tumbled more than 4 percent last week. As Shanghai Futures Exchange markets reopened, metal played catch up with London's losses, while ShFE nickel slumped almost 7 percent, before both metals cut losses.


Daily Mcx Commodity Updates On Gold and Silver

Gold settled down -2.37% at 28690 dropped sharply on Monday on signs of growing appetite for riskier assets as Japanese stocks surged 7% and investors cashed in on recent strong gains for the metal. Last week marked a period of heavy buying for the precious metal, notably on Thursday as equity markets plunged and expectations grew that the Fed would delay another hike in interest rates.

Silver settled down -2.36% at 37088 surrendering it's last weeks gain where by silver climbed nearly 6% yesterday pulling further away from its highest in a year, as a rebound in stocks and profit-taking from China after the Lunar New Year weighed on the market. 

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Commodity Natural Gas and Crude Oil Report

Crude Oil settled up 1.55% at 2037 Crude Oil prices jumped back above $30 a barrel rose as much as 4.3 percent to settled at $30.70 per barrels news of a rare private meeting of top officials from the world's biggest oil producers spurred speculation of an eventual deal to tackle a deep supply glut. 

The gains come amid continued talk of a potential meeting between members of the OPEC. 

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Monday, 15 February 2016

Daily Mcx Commodity Updates On Gold and Silver

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Gold. It suggests that prices are expected to give correction. On the upside, immediate resistance is located at 29690 levels. On the downside, immediate support is located at 29300 levels.



Silver. It suggests that prices are likely to retrace back till 37550 levels. On the upside, immediate resistance is located at 38250 levels. Momentum indicator RSI is suggesting bearish trend.

Commodity Natural Gas and Crude Oil Report

Natural gas. It suggest that prices are expected to drop till 132.80 in today's session. On the upside, immediate resistance is located at 143.40 levels. 

Crude Oil. It suggests that prices are expected to give breakout on the upside. If it crosses 1905 then it will head towards 1990 levels. On the downside, immediate support is located at 1860 levels.

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Mcx Market Tips on Base Metals

Copper. It suggest that prices are trading in sideways zone. If it crosses 307 then we could see bullish momentum till 313.80-315.70 levels. On the downside, immediate support is located at 301 levels.

Aluminum suggests that prices are making higher highs and lows on lower degree. It has potential to rise up to 103.60 levels. On the downside, immediate support is located at 101.80 levels.

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Friday, 12 February 2016

Mcx Commodity Market News for Gold and Silver

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Gold settled up 5.21% at 29791, breached 30000 mark 1st time after March 2014 tracking Comex Gold which skyrocket in yesterday session rosed above $1,260 logged their highest settlement since Feb. 5, 2015 saw their largest one-day dollar and percentage gain since Sept. 19, 2013 since the financial crisis as investors sought havens from broad financial turmoil. Gold price rose more than 5 per cent in yesterday session while risen nearly 18 per cent this year as global inflation expectations have eased sharply and big central banks push negative interest rate policies, its best start to the year since 1980.

Silver settled up 4.1% at 38288 breached above 38000 level seen after June 2015 as sharp declines in stocks sent tremors through global markets pushing investors to seek shelter in the safe-haven asset. Silver gained tracking gain's from Gold prices which showed a massive gains, gold posted its strongest one-day gains since December 1, 2014 when it soared nearly 7% to eclipse $1,260. Gold closed higher for the seventh consecutive session and the ninth time in the last 10 sessions. The precious metal is now up by approximately 18% on the quarter and is on pace for its strongest three-month period in 30 years.

Mcx Crude Oil and Natural Gas Updates

Crude oil settled down -2.9% at 1844 dropped to test level seen never before Feb 2009 tracking weakness from Nymex Crude oil which fell sharply to fresh 12-year lows on Thursday fell to an intraday low of $26.22 a barrel amid a bearish monthly supply report from OPEC and further indications that a deal between Russia and the world's largest oil cartel on potential cuts in production will not materialize.

This week US EIA said that supplies at Cushing, Oklahoma, the key delivery point for Nymex crude, increased by 523,000 barrels last week to an all-time high just shy of 65mbls.

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Commodity Trading Tips on Base Metals

Copper settled up 0.2% at 304.75 after U.S. Federal Reserve Chair Janet Yellen stressed that U.S. interest rates would rise gradually, sending the dollar lower. Comments from the U.S. Federal Reserve's chairwoman, Janet Yellen, that tighter credit markets, volatile financial markets and uncertainty over Chinese economic growth have raised risks for the U.S. economy also undermined confidence. China is the world's largest consumer of copper, accounting for nearly 50 percent of global copper demand estimates at 22 million tonnes this year.

Nickel settled down -3.6% at 522.6 as fears for global growth sparked by worries about a potential financial crisis and uncertainty about demand in China weighed. LME Nickel tumbled 3.7 percent to $7,590. Earlier in the session it hit a 12-year low at $7,565 a tonne. Goldman Sachs has cut its 3- and 6-month nickel price forecasts to $8,500 a tonne from $10,000 and the 12-month forecast to $8,500 from $11,000. The main upside risk is that Chinese demand does pick up more than expected, and supply curtailments are quick and deep.

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Thursday, 11 February 2016

Mcx Crude Oil and Natural Gas Updates

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Crude Oil. It suggests that prices are making lower highs and lows. Positive momentum indicator suggests pontial for reversal on the upside. If it crosses 1960 then upside rally can be seen till 2010 levels. On the downside, immediate support is located at 1925 levels.

Natural gas. It suggest that prices are capped under crucial resistance of 147.50 levels. It is expected to fall till 138.40 levels. Momentum indicator suggests downside bias.

Mcx Commodity Market News for Gold and Silver

Gold. It suggests that prices are trading in sideways zone. However, it is expected to give correction on the downside. If it breaks 28190 then it will drop down till 28000 levels.

Silver. It suggests that prices have breached crucial support of 36900 levels. It is expected to correct down till 36500 levels. Momentum indicator RSI suggests bearish trend.

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Commodity Trading Tips on Base Metals

Copper. It suggest that prices are taking support near 303.30 levels. Momentum indicator RSI is turning on the upside. If it crosses 307.70 then it can be seen approaching for 313.80 levels.

Nickel suggests that prices are expected to trade in sideways zone. It is likely to hold immediate support of 547.50 levels. On the upside, resistance is located at 569.60 levels.

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Wednesday, 10 February 2016

Mcx Commodity Market News for Gold and Silver

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Gold:
Gold prices are now trading between strong resistance between 27400 up to 27850 zones. Failure to sustain between these levels will trigger a sharp correction in the counter. A daily close below 27190 will see prices correct towards 26975/26800 levels. Sustenance above 27500 will see prices test 27685/27850 levels.


Silver:
The outlook for Silver will stay positive until prices hold on to support around 35400 levels. Until then corrective moves from higher levels will find support between 35990—35500 zones. Sustenance above 36000 will see prices test 36385/36550 levels on the upside. A daily close below 35400 will trigger a breakdown towards 35100/34990 areas.


Commodity Trading Tips on Base Metals

Copper:
The outlook on copper will stay positive until prices trade above 314 on a daily closing basis. Until then intraday dips will find support between 315.50—314.50 zones. Momentum above 320 will see prices test immediate resistance around 322 levels. A daily close above 322 will open upside targets of 327.80—330 zones for the counter.

Nickel:
Failure to break below 574.90 will see Nickel prices bounce towards 586.50/590 areas again. A decisive breakdown below 574 will see prices slip towards 570—567 zones. A daily close below 570 will be negative for the counter. Any major upside is likely only above 600. Until then 570 to 600 will be the broad trading range for the counter.

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Mcx Crude Oil and Natural Gas Updates

Crude Oil (Rs/Bbl):
Failure to break below 2130 will see Crude Oil prices rebound towards 2227/2250 levels on the upside. The upside though will remain capped to around 2280 areas until prices close above this level on a daily close basis. This will open upside target of 2345 levels in the counter. A break below 2130 will push the counter lower towards 2064/2030 levels.

Natural Gas (Rs./Mmbtu):
Momentum above 141 will push Natural Gas prices higher towards next resistance zones between 143.90—145 zones. Further upside in the counter is likely only on a daily close above 146. Corrective move from current levels will find support around 136 levels. A decisive break down below 136 will trigger a fall towards 133 levels.

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Tuesday, 9 February 2016

Commodity Trading Tips on Base Metals

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MCX Copper. It suggests that prices have continued its upside rally for the consecutive third week. It has immediate resistance at 321.70 levels. Negative reversal on RSI suggests some correction on the upside. Hence, in the near term, prices are expected to trade on bearish note with potential fall upto 305.50 and 302 levels.


Nickel. After trading for more than 15 days in a sideways zone, prices lost its momentum on Friday. It lost more than 4 percent on last Friday and 5.64 percent in a single week. Technically, prices have immediate support at 542.50 levels. If it breaks then fall can be seen till 515 levels. On the flip side, immediate resistance is located at 575-588 and further at 599.50 levels. Bias is expected to trade on bearish mode only.

Mcx Commodity Market News for Gold and Silver

MCX Gold Oct daily chart. Prices continued its upside rally for the straight fifth week. Currently it is trading at crucial resistance of 27830 levels. Momentum indicator RSI is trading in overbought territory, which suggests potential for reversal in the trend. In this week, it is expected to give pullback till 27230 and further till 26860 levels. However, if rally continues then 28300 can be easily see in near term.

MCX Silver daily chart. In the last week, silver prices gained by 3 percent to settle down at 3 moths high of 35806 levels. Technically, last Friday’s Doji candle suggests some reversal in the trend. In this week, prices are expected to correct down till 35190 levels before fresh up move. However, if this rally continues in the near term then 36500 can be easily taken out and prices could rally upto 37450 levels.

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Mcx Crude Oil and Natural Gas Updates

MCX Crude oil. It suggests that prices are still trading under pressure. RSI is maintaining its bearish range of 20-50 zone. On the upside, prices are capped under crucial resistance of 2350-2415 zone. Whereas, it has immediate support at 2030 and further at 1900 levels. In the near term, if it breaks out of this zone then some big rally can be expected.

MCX Natural gas. After gaining more than 7 percent, prices lost by 10 percent in the last week. However, it is expected to hold downside support of 132.80 levels and it has potential to gain upto 156.60 levels. Momentum indicator RSI is also suggesting bullish crossover. Hence, prices are expected to trade on bullish note.

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Monday, 8 February 2016

Mcx Commodity Market News for Gold and Silver


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Gold could remain range bound to firm as the Dollar remains weak. Investors await cues from key jobs data tonight for further cues. Support is at 1147.0. Resistance is at 1165.0. MCX Gold could remain range bound to firm, tracking firm overseas prices. Support is at 27305 and 27170. Resistance is at 27575 and 27775. However both COMEX and MCX prices are overbought and could witness profit booking.


Silver could trade range bound to firm. Weak Dollar could limit downside. Support is at 14.73 and 14.61. Resistance is at 14.95 and 15.00. MCX Silver could trade range bound. The downside in prices could be limited as the Rupee remains weak. Support is at 35730 and 35525. Resistance is at 36005 and 36225. 

Mcx Crude Oil and Natural Gas Updates

Crude Oil. It suggests that prices are trading in wide range. On the upside, immediate resistance is located at 2250 levels. In today's session it is expected to correct down till 2070 levels.

Natural gas. It suggest that prices are capped under crucial resistance of 140.90 levels. It is expected to fall till 132.80 levels. On the upside, immediate resistance is located at 140.90 levels.

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Commodity Trading Tips on Base Metals

Copper prices could trade range bound to firm as the Dollar remains weak. Support remains at 4650 and 4630. Resistance is at 4720. MCX Copper prices could trade firm, tracking firm overseas prices. Support is at 313.55 and 310.00. Resistance is at 320.00.

Nickel prices could trade range bound to firm as the Dollar remains weak. Support is at 8432. Resistance is at 8621. MCX Nickel prices could track overseas prices. Support is at 575.50. Resistance is at 590.60.

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Friday, 5 February 2016

Commodity Trading Tips on Base Metals

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Lead:
A decisive breakdown below 123.30 will see Lead prices correct towards 122.60—122 zones. The counter has immediate resistance around 125 above which prices will rally towards 126.50—127 zones. We don’t expect prices to sustain at higher levels and the counter can witness a sharp fall from higher levels. Traders must avoid going long at higher levels.

Nickel:
The intraday view for Nickel will stay positive until prices hold on above 582. Momentum above 590 will see prices rally towards resistance zones between 595.50—600 zones. Any major upside is likely only on a daily close above 600 levels. Until then counter will trade in a broad range between 570—600 levels.

Aluminium:
Aluminium prices have rallied back towards its resistance at 105 levels. Failure to trade above this level will trigger a sharp correction towards 103— 102.50 levels. Momentum above 105 will push the counter higher towards 106.30/107 levels. The view for the counter will stay positive until prices trade above 102 on a daily closing basis.

Mcx Commodity Trading Tips for Gold and Silver

Gold:
Gold will witness more momentum if prices sustain above 27400 levels. Prices can rally towards 27625/27850 levels in that case. Support for the counter is seen around 26950. A daily close below this level will trigger a correction towards 26750 levels. Until then dips will find support between 27100—27000 zones.

Silver:
Traders can look to buy into silver once prices correct towards 35450—35300 zones. Momentum above 35800 will see prices rally towards 36000/36200 zones. The view on the counter will stay positive until prices hold on above 34850 levels on a daily closing basis.

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Mcx Crude Oil and Natural Gas Updates

Crude Oil (Rs/Bbl):
Crude Oil prices rallied post the inventory data yesterday. Prices need sustain above 2244 levels to advance further towards resistance between 2276—2295 levels. Failure to sustain at higher levels will push prices lower towards 2120/2080 areas. The counter has found near term support between 2040—2020 zones.

Natural Gas (Rs./Mmbtu):
The outlook on Natural gas will stay negative until prices trade below 141. A decisive breakdown below 135 will push prices lower towards 133.40/129 levels. Sustenance above 141 will trigger a sharp bounce towards 146 levels. A daily close above 145 will be positive for the counter.

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Thursday, 4 February 2016

Mcx Commodity Trading Tips for Gold and Silver

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Gold:
A break below 26880 will push Gold prices lower towards 26750/26710 levels. Momentum above 27130 will push the counter higher towards 27250—27300 zones. Any major downside is likely only on a daily close below 26550.


Silver:
Silver prices need to sustain above 35100 levels for the counter to retest 35400 areas again. The broader prices set-up for the counter will stay positive until prices trade above 34000 levels. Immediate support is seen around 34500 below which prices will trade weak.


Mcx Crude Oil and Natural Gas Updates

Crude Oil (Rs/Bbl):
Sustenance above 2100 levels will see crude oil prices rebound towards 2130/2155 levels. The counter though can witness fresh selling at higher levels. Any major upside is likely only if prices sustain above 2165 levels. Prices can rally towards 2225/2250 zones in that case. A decisive breakdown below 2020 will push prices lower towards 1940/1910 levels.

Natural Gas (Rs./Mmbtu):
The outlook on Natural gas will stay negative to range bound until price trade below 141.50. A decisive breakout above this resistance will trigger a bounce towards 145 levels in the counter. Weakness below 137 will see prices test 135 levels. A daily close below 135 will push prices lower towards 133/130.50 levels.

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Commodity Trading Tips on Base Metals

Copper:
Copper prices couldn’t sustain at its intraday highs at 314.65 levels yesterday. Weakness between 314—315 zones will see prices correct towards support at 307.50 followed by 305.50 levels. A breakout above 315 will see prices rally towards 317.50/319 areas.

Zinc:
Zinc prices are rallying into its strong resistance areas between 116— 116.50 levels. The counter is likely to witness sharp corrective moves from between these supply zones. A break below intraday support at 114 will trigger a correction towards 112.20/111.40 levels.

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Wednesday, 3 February 2016

Commodity Trading Tips on Base Metals

Best Trading Tips on Commodity Market Only at

Copper. It suggest that prices are making higher highs and lows. it is expected to move out of corrective wave and likely to ride upside till 318.40 levels. On the downside, immediate support is located at 305.40 levels.

Lead suggests that prices are trading in uptrend channel. However, upside is likely to remain capped under 119 levels. Momentum indicator RSI is expected to turn on the downside. In today's session if prices breaks 117.90 then it will correct down till 116.20 levels.

Mcx Commodity Trading Tips for Gold and Silver

Gold could remain range bound to firm as the Dollar remains weak. Support is at 1120.0. Resistance is at 1135.0. MCX Gold could remain range bound to firm, tracking firm overseas prices. Support is at 26850. Resistance is at 27000. A close above could push prices to 27300 levels.

Silver could trade range bound. Weak Dollar could limit downside. Support is at 14.20. Resistance is at 14.45. MCX Silver could trade range bound. Support is at 34350 and 34600. Resistance is at 35150 and 35315.

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