Tag Archives: Mcx Tips

Commodity Mcx Tips and News 5th Dec 2016

dm

mcx

Market Outlook:

Precious metals are still under pressure as the dollar rally resumed amid a pickup in hiring by employers. US private employers added 216k jobs in November, well above expectations of 165k. Base metals were mixed as the dollar strength capped rallies with industrial metal tracking weak cues from global markets doubts post US election rally has much further to run while better manufacturing data out of China supported prices. Crude oil closed lower in the wake of OPEC’s production-cut deal. Doubts remained over whether OPEC’s members will stick to the agreement though the OPEC plans to establish a committee.

comdex

Fundamental News:

Gold prices rose Friday, as investors positioned themselves in the safe-haven metal on rising political concerns in Europe.

Oil prices rallied for their best week in at least five years on Friday, steadying above $51 a barrel, following OPEC’s decision to cut crude output to rein in a global glut that has weighed on prices for more than two years.

imp-data

gold

Gold showed sideways movement and found the important support level of 27900. Now if it will close below the important support level of 27900 then 27500 will act as next support level. On higher side 28200 will act as vital resistance level.

silver

Silver showed bullish movement and found the important resistance level of 41500. Now if it will close above the important resistance level of 41600 then 42000 will act as next resistance level. On lower side 41000 will act as vital support level.

crude

Crude showed bullish movement and found the important resistance of 3550. Now if it breaks 3550 then next resistance level is seen around 3650. On the other hand 3435 will act as a major support level; if it breaks the prices could visit 3350 level.

copper

Copper showed sideways to bearish movement and found the important support level of 393. Now if it will break the resistance level of 405 then 415 will act as next resistance level. On the other hand 390 will act as a major support level.

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Gold & Crude Oil Market News

daily

mcx

Market Outlook:

Gold was flat as dollar stabilized after falls in previous session as investors turned their attention to upcoming U.S. economic reports and Wednesday’s OPEC meeting. Investors were waiting on raft of U.S. data, including a second look at third quarter growth later in the day, ISM manufacturing data on Thursday and Friday’s nonfarm payrolls report for November. Base metals traded lower as political risk resurfaced in Europe. Oil prices fell as market jitters over whether producer cartel OPEC would be able to hammer out meaningful output cut during meeting on Wednesday.

comdex

Fundamental News:

Gold prices fell on Tuesday due to expectations of rising U.S. interest rates, a stronger dollar and improving sentiment for global economic growth, which mean investors are likely to favour risk assets such as equities.

Crude-oil futures dropped Tuesday on growing doubts that the world’s biggest oil producers would reach a deal to cut global output.

gold

Gold showed sideways movement and found the important support level of 28600. Now if it will close below the important support level of 28600 then 28300 will act as next support level. On higher side 28900 will act as vital resistance level.

silver

Silver showed bullish movement and found the important resistance level of 40850. Now if it will close above the important resistance level of 41500 then 42000 will act as next resistance level. On lower side 40300 will act as vital support level.

crude

Crude showed bearish movement and found the important support of 3090. Now if it breaks 3090 then next support level is seen around 3040. On the other hand 3200 will act as a major resistance level; if it breaks the prices could visit 3300 level.

copper

Copper showed sideways to bearish movement and found the important support level of 389. Now if it will break the resistance level of 397 then 405 will act as next resistance level. On the other hand 387 will act as a major support level.

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Gold & Crude Oil News | Mcx Trading Tips

dmr

mcx

Market Outlook:

Gold closed higher yesterday as the highflying dollar cooled its advance. Base metals traded higher with Copper prices jumping more than 2%, leading a broad rally in industrial metals, amid prospects for better demand in top consumer China and smaller growth in supply. Oil prices rose to a three-week, adding to last week’s strong gains on growing expectations that global oil producers will find a way to cap output at a meeting scheduled for the end of this month.

Fundamental News:

Gold rose on Tuesday, climbing further away from last week’s 5- 1/2-month lows on short-covering as the dollar weakened and physical buying in Asia supported prices.

Crude oil prices shot higher following encouraging comments about implementation of an OPEC supply cut accord unveiled in September. Cartel members have struggled to reach agreement on output cut quotas due to be unveiled at a meeting on November 30.

imp-data

gold

Gold showed sideways to bearish movement and found the important support level of 29000. Now if it will close below the important support level of 29000 then 28800 will act as next support level. On higher side 29250 will act as vital resistance level.

silver

Silver showed sideways movement and found the important support level of 40400. Now if it will close above the important resistance level of 41000 then 42000 will act as next resistance level. On lower side 40000 will act as vital support level.

crude

Crude showed bullish movement and found the important resistance of 3360. Now if it will break the 3300 then next resistance level is seen around 3360. On the other hand 3230 will act as a major support level; if it breaks the prices could visit 3150 level.

copper

Copper showed sideways to bullish movement and found the important resistance level of 387. Now if it will break the resistance level of 385 then 390 will act as next resistance level. On the other hand 380 will act as a major support level.

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Daily Gold Market Trend and News

mcx-gold

Market Outlook:

Gold closed higher yesterday as the U.S. dollar pulled back from a two-week high touched in wake of Donald Trump’s election victory. Silver closed higher after participants raised their bets amid firming global trends. Base metals were mostly up due to strong global cues. Crude oil closed lower as a monthly report from the IEA showed that crude output from the OPEC rose to a record level in October, ahead of the group’s meeting Nov. 30 to hash out details of a plan to cut back on output.

comdex

Fundamental News:

Gold futures headed lower Thursday, extending their post election losses as gains in the U.S. dollar offset support from investor interest in the metal in the wake of Republican Donald Trump’s stunning victory against Democratic rival Hillary Clinton on Tuesday.

Oil prices slipped on Thursday as markets recovered from shock at U.S. President-elect Donald Trump’s surprise victory and focused on global oversupply as well whether OPEC will decide to cut production later this month.

imp-data

gold

Gold showed sideways movement and found the important support level of 29700. Now if it will close below the important support level of 29700 then 29300 will act as next support level. On higher side 30500 will act as vital resistance level.

silver

Silver showed sideways movement and found the important support level of 43500. Now if it will close above the important resistance level of 44200 then 45000 will act as next resistance level. On lower side 43250 will act as vital support level.

crude

Crude showed bearish movement and found the important support of 2975. Now if it will break the next support level of 2950 then 2900 will act as next key support level. On the other hand 3060 will act as a major resistance level, if it breaks the prices could visit 3100 level.

copper

Copper showed bullish movement and found the important resistance level of 380. Now if it will break the resistance level of 380 then 385 will act as next resistance level. On the other hand 370 will act as a major support level.

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Mcx Market Guidance and News

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Fundamental News:

Gold reclaimed the Rs 31,000-mark at the domestic bullion market after fresh offtake from investors and stockists, driven by the black money crackdown in India and a surge in global cues amid Donald Trump’s victory in the US presidential election.

Oil fell on Wednesday in choppy trading after weekly data showed another build in U.S. crude inventories, just as the market began to recover from an initial Brexit-like reaction to Donald Trump’s surprise victory in the U.S. presidential election.

imp

gold

Gold showed sideways movement and found the important support level of 30000. Now if it will close below the important support level of 30000 then 29500 will act as next support level. On lower side 30500 will act as vital resistance level.

silver

Silver showed sideways movement and found the important support level of 43500. Now if it will close above the important resistance level of 44200 then 45000 will act as next resistance level. On lower side 43250 will act as vital support level.

crude

Crude showed bearish movement and found the important support of 2900. Now if it will break the next support level of 2900 then 2850 will act as next key support level. On the other hand 3050 will act as a major resistance level, if it breaks the prices could visit 3100 level.

copper

Copper showed bullish movement and found the important resistance level of 360. Now if it will break the resistance level of 361 then 367 will act as next resistance level. On the other hand 353 will act as a major support level.

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