MCX Trading Tips, Latest News and profitable Call’s

untitled

Market Outlook

Low investment demand, stronger dollar index and rate hike in the US are push factors exerting downside pressure on precious metals.The selloff could extend further as 11 of 17 voting members of the fed suggested at least three rate hikes in 2017. Base metals are mixed on the LME but a stronger dollar could weigh across the complex today. We expect copper, lead and aluminum to trade lower while range bound in zinc and nickel. In energy sector, Crude Oil prices remained steady on morning in Asian trade Investors will await cues from of data from Building Permits and Housing Starts for November US tonight. We expect range bound trade in oil prices.

a2

Fundamental News

Gold edged slightly higher as global equities and the dollar drifted lower on Monday, although expectations of tighter US monetary policy kept a lid on its gains.

US crude is unchanged in the Monday session. In North American trade, WTI/USD futures are trading at $52.00. Brent crude futures are trading at $54.80, as the Brent premium stands at $2.80. On the release front, there are no major US events on the schedule.

a3

a4

Gold showed bullish movement and found the important resistance level of 27280. Now if it will sustain below the important support level of 27100 then 26900 will act as next support level. On the other hand 27400 will act as a major resistance level.

a5

Silver showed bearish movement and found the important support level of 39300. Now if it will sustain below the important support level of 39000 then 38300 will act as next support level. On the other hand 40000 will act as a major resistance level.

a6

Crude showed correction on lower side and found the important support level of 3485. Now if it will close below the important support level of 3450 then 3380 will act as next support level. On the other hand 3560 will act as a major resistance level.

a7

Copper showed bearish movement and found the important support level of 372. Now if it will close below the important support level of 370 then 365 will act as next support level. On the other hand 380 will act as a major resistance level.

a8

(Click to submit your details) Just one step to get best trading tips and Recommendation.

 

Leave a Reply

Your email address will not be published. Required fields are marked *