Category Archives: MCX Tips

MCX Market Calls and News 18th Dec 2017

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Market Outlook

Gold prices were hovering near one-week highs on Friday, as fresh concerns over U.S. tax reform plans weighed on the dollar and as markets were still digesting the Federal Reserve’s latest policy statement. Oil prices were mixed on Friday, lingering below two-year highs as the continuing outage of a North Sea pipeline gave support, while climbing U.S. output and weak gasoline demand kept a lid on gains. Copper came under pressure on Friday from profit-taking ahead of the holiday period, but expectations of strong demand in top consumer China after data showed firm industrial activity lent support to prices.

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Fundamental News

Gold prices were on track to snap a three-week losing streak after rising sharply following the Federal Reserve interest rate decision to raise rates, and maintain its outlook for additional monetary policy tightening.

The state of Alaska will receive hundreds of millions of dollars in a settlement with oil companies over the value of North Slope crude oil shipped through the Trans-Alaska Pipeline (TAP), officials announced.

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Gold showed sideways to bearish movement and found the major support level of 28180. Now if price sustains on a lower level then it will test next support level of 28050. On another side, 28450 will be major resistance level.

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Silver showed sideways to bullish movement and found the major resistance level of 37420. Now if price sustains on a higher level then it will test next resistance level of 37750. On another side, 36880 will be major support level.

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Crude oil showed sideways to bearish movement and found the major support level of 3635. Now if price sustains on a lower level then it will test next support level of 3600. On another side, 3710 will be major resistance level.

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Copper showed sideways to bullish movement and found the major resistance level of 449. Now if price sustains on a higher level then it will test next resistance level of 457. On another side, 432 will be major support level.

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Today’s Gold Market Movement and MCX Tips

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Market Outlook

Gold prices were trading at five-month lows on Friday, as optimism over the U.S. tax reform overhaul continued to support demand for the greenback ahead of the highly-anticipated U.S. nonfarm payrolls report due later in the day. Oil prices were stable on Friday as the weight of a strengthening U.S. dollar was countered by China’s relentless thirst for crude and the OPEC-led supply cuts that have gradually tightened the market this year. Natural gas futures plunged on Thursday, falling to the lowest levels of the session after data showed a surprise buildup in U.S. supplies in storage last week. Natural gas futures have closely tracked weather forecasts in recent weeks, as traders try to gauge the impact of shifting outlooks on early-winter heating demand.

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Fundamental News

Gold prices continued to come under pressure, heading for a third-straight day of losses as tax reform optimism continued to support an uptick in the dollar, reducing investor demand for the precious metal.

Crude oil prices settled higher on Thursday as a threatened strike in Nigeria and growing Middle East political tensions stoked fears of supply disruptions, while ongoing OPEC-led output curbs supported sentiment.

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Gold showed sideways to bullish movement and found the major resistance level of 28700. Now if price sustains on a higher level then it will test next resistance level of 28820. On another side, 28450 will be the major support level.

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Silver showed sideways to bullish movement and found the major resistance level of 37350. Now if price sustains on a higher level then it will test next resistance level of 37630. On another side, 36780 will be a major support level.

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Crude oil showed sideways to bullish movement and found the major resistance level of 3730. Now if price sustains on a higher level then it will test next resistance level of 3765. On another side, 3640 will be a major support level.

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Copper showed sideways to bearish movement and found the major support level of 424. Now if price sustains on a lower level then it will test next support level of 419. On another side, 431 will be major resistance level.

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Today’s Market Prediction and MCX News

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Market Outlook

Gold prices held steady within a familiar range on Tuesday, as investors looked ahead to key U.S. economic data due later in the session for fresh clues on the likely trajectory of monetary policy. Crude prices extended their decline into the second session on Tuesday, as investors looked ahead to weekly data from the U.S. on stockpiles of crude and refined products to gauge the strength of demand in the world’s largest energy consumer. Base metal prices were mostly lower on Tuesday, December 5 amid bouts of year-end profit-taking, with copper prices falling as longs liquidate. For upcoming session, all base metals may give more bearish movement.

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Fundamental News

Overnight, gold prices came under pressure on Monday amid a stronger dollar after the U.S. Senate approved a tax bill aimed at overhauling the U.S. tax system and boosting economic growth.

An OPEC-led producer group last week extended a supply-cutting deal through 2018, but the resulting support for prices could bolster U.S. output which climbed to nearly 9.5 million barrels per day in September.

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Gold showed sideways to bearish movement and found the major support level of 28800. Now if price sustains on a lower level then it will test next support level of 28705. On another side, 29200 will be major resistance level.

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Silver showed sideways to bearish movement and found the major support level of 37500. Now if price sustains on a lower level then it will test next support level of 37220. On another side, 38380 will be major resistance level.

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Crude Oil showed sideways to bearish movement and found the major support level of 3670. Now if price sustains on a lower level then it will test next support level of 3635. On another side, 3745 will be major resistance level.

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Copper showed sideways to bearish movement and found the major support level of 422. Now if price sustains on a lower level then it will test next support level of 418. On another side, 445 will be major resistance level.

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Safe Trading in Gold Market and Updates

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Market Outlook

Gold price begins today’s trading with slight bullish bias, we will keep preferring the bullish trend in the upcoming sessions conditioned by holding above 29350 level, pointing that branching 29550 will push the price to 29720 as a next main target. Silver price didn’t show any strong move in the last days, to stay stable near 39300 level. Crude oil price shows slight bearish bias after testing 3815 barriers in last Friday, the Expected trading range for today is between 3720 support and 3820 resistance. Copper price faced intraday negative pressures on Friday to notice postponing the bullish rally and fluctuate near the initial support around 450.50, the Expected trading range for today is between 443 and 452. Zinc price faced negative pressures on Monday. The expected trading range for today is between 206.20 and 209.70.

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Fundamental News

Gold prices drifted higher on Monday, as investors looked ahead to a busy week of Federal Reserve speakers for fresh clues on the likely trajectory of monetary policy.

Crude prices were a bit lower on Monday, as energy markets looked ahead to this week’s Organization of Petroleum Exporting Countries’ (OPEC) highly-anticipated meeting to see whether major producers plan to extend their current production-cut agreement.

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Gold showed sideways to bullish movement and found the major resistance level of 29550. Now if price sustains on a higher level then it will test next resistance level of 29685. On another side, 29350 will be a major support level.

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Silver showed sideways to bearish movement and found the major support level of 39100. Now if price sustains on a lower level then it will test next support level of 38880. On another side, 39530 will be major resistance level.

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Crude Oil showed sideways to bearish movement and found the major support level of 3710. Now if price sustains on a lower level then it will test next support level of 3678. On another side, 3820 will be major resistance level.

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Copper showed sideways to bearish movement and found the major support level of 443. Now if price sustains on a lower level then it will test next support level of 439. On another side, 453 will be major resistance level.

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Today Commodity MCX Market Trend | MCX Tips

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Market Outlook

Gold price settles around 29700 level, waiting to get enough positive momentum to push the price to breach the mentioned level and open the way to head towards 29800 that represents our next main target. We will continue to suggest the bullish trend in the upcoming sessions. Crude oil price provided strong positive trading after leaning on the bullish trend support, waiting for more rise in the upcoming sessions, as our next main targets located at 3765 and extend to 3800. In spite of the weak trading of Copper price in the last period, but it confirms its affection by the bearish correctional attempts by its stability below 442.50, we will keep waiting for gathering new negative momentum.trading range for today 442-447.

comdex Fundamental News

India’s state-run Mangalore Refinery and Petrochemicals Ltd MRPL.NS have floated its first tender to buy high-sulphur crude oil from the United States, a tender document showed on Monday.

Gold prices drifted lower at the start of a holiday-shortened week on Monday, as investors kept an eye on U.S. tax reform developments. In addition to the minutes, markets will also be watching Fed Chair Janet Yellen, when she speaks in New York on Tuesday evening.

m1 m2 Gold showed sideways to bearish movement and found the major support level of 29350. Now if price sustains on lower level then it will test next support level of 29120. On other side 29730 will be major resistance level.

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Silver showed sideways to bearish movement and found the major support level of 39300. Now if price sustains on lower level then it will test next support level of 38900. On other side 40100 will be major resistance level.

silver Crude oil showed sideways to bearish movement and found the major support level of 3620. Now if price sustains on lower level then it will test next support level of 3580. On other side 3720 will be major resistance level.

crude Copper showed sideways to bullish movement and found the major resistance level of 445. Now if price sustains on higher level then it will test next resistance level of 449. On other side 436 will be major support level.

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