Friday, 28 August 2015

Most Accurate Mcx and Commodity Tips Provider

MCX Nov Copper has developed a “falling wedge” chart pattern on intraday charts and the neck-line breakout of the same took place at 342 levels, which will act as a support now. According to chart pattern the length between top to bottom will be upside target i.e. 357 levels, meanwhile 349.30 & 354 will also act as an immediate hurdle on upside.

MCX Sep Crude oil; saw some short covering in the counter by violating its falling trend-line resistance at 2674 levels and surged almost 7% on daily charts. Further recovery can be possible towards 2856 & 2910 levels, where as an immediate support pegged at 2753 levels. 

NCDEX Sep Guar gum prices rose to as high as 9400 levels, but couldn’t sustain at higher levels and reversed the uptrend by forming a “bearish engulfing” candlestick pattern on daily charts. Now the bias shifted on downside and is likely to extend the fall towards 50% Fibonacci level of 8477 levels. Hence, any rise can be utilized to create shorts at 8810 levels.

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Thursday, 27 August 2015

Gold and Silver Report By Marketmagnify

During early Asian trading hours, comex gold futures are trading marginally higher. For the day, gold market is expected to witnessed range bound trend during Asian and European trading session ahead of US GDP data later today evening. Besides, US personal consumption, initial jobless claims, continuing claims and pending home sales data is due for release. All these data expectations are showing negativity for gold market.

Indian market also declined to an intraday low of Rs. 26225 per 10 gms and settled at Rs. 26471 per 10 gms, down by 1.01%

Since the silver has breached the important support level at $14.30 levels, we can expect further fall in the silver market. Declining industrial demand especially from China is putting pressure on the market. Weakness in base metals sector will further add pressure to the silver market.

MCX silver futures also posted a biggest fall of 3.55% to settle the day at Rs. 33423 per kg

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Wednesday, 26 August 2015

Daily Updates about Metals and Energy in Commodity Market

Indian market also moved in line with comex and MCX Oct contract gold made an intraday low of Rs. 26662 per 10 gram and ended the day at Rs. 26740 per 10 gram, posting a fall of 2.58%.

MCX silver futures also declined moving in line with comex silver and further, appreciation in INR also added bearish sentiment to the Indian market.

In India due to Rupee appreciation, the gains got negated and the MCX September month crude went down by 1.20% 

However in India just like crude oil price NG prices also slumped due to Rupee appreciation

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Friday, 21 August 2015

Best & Most Accurate Mcx Commodity Tips for Today

MCX Oct Gold futures extended its uptrend by violating its falling trendline resistance at 26331 levels. It was begun the day with a positive note and there after continued the same trend, finally ended at 26772 levels up by 2.20%. Further rally can be possible towards 26980 & 27115 levels. Hence, any fall can be utilized to accumulate longs at 26665 levels.

MCX Sep Silver too surged 2% in the past session and ended in a strong positive zone. Currently prices facing a stiff resistance from 36435 levels, on a convincing close above the same will intact further uptrend towards 36920 & 37465 levels.

NCDEX Sep Chana was reversed the uptrend by forming a “hanging man” candlestick pattern followed by a “spinning top” on daily charts. This indicating some profit booking can be possible in the counter towards 4643 & 4600 levels, where as a resistance resides at 4705 levels.

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Thursday, 20 August 2015

Daily Updates about Metals and Energy in Commodity Market

MCX Oct Gold prices strengthened further in the past session and surged almost 192 points on d-o-d basis. A “bullish engulfing” candlestick pattern on daily charts renders for a continuation of uptrend in coming sessions towards 26317 & 26445 levels. Hence, any fall towards 26110 levels can be considered as an accumulation point for fresh longs.


MCX Sep Crude oil has reached to its 6 year low of 2670 levels and finally settled at 2720 levels, down by 4% on daily charts. Further bearish outlook remains unchanged and is likely to extend the fall towards 2655 & 2587 levels. Hence, any rise can be utilized to create shorts at 2763 levels.

NCDEX Sep Turmeric futures have decisively broken and held above its horizontal resistance at 7780 levels on extending process of privileged bullish trend. Overall outlook remains positive and is likely to extend the gains towards 8110 & 8220 levels. Hence, any fall can be hold at 7930 levels.

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Wednesday, 19 August 2015

Daily Commodity Market Report and News

MCX Sep Silver has resumed its privileged bearish trend by violating its rising trend line support at 35462 levels. It shed almost 1100 points in the past session at ended below 35000 mark levels. Today’s outlook remains weak and further fall can be possible towards 34230 & 33650 levels, where as a resistance resides at 35050 levels.


MCX Aug Cotton futures rose to as high as 16610 before making a temporary top there and turned the direction into weak mode by forming a “bearish engulfing” on daily charts. This signifies some short covering in the counter towards 16180 & 16020 levels. However, any rise on upside can be limited at 16450 levels. 

NCDEX Sep Chana futures strengthen further by provided a strong breakout from the falling trendline resistance at 4634 levels and ended at 4747 levels, up by 142 points. Further rally remains inline towards 4794 & 4850 levels. Hence, any fall can be utilized to accumulate longs at 4718 levels.

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Monday, 17 August 2015

Best & Most Accurate Mcx Commodity Tips in Gold and Silver

MCX Oct Gold too extended its corrective pullbacks past week and surged almost 873 points on weekly charts. This week’s outlook remains positive and further rally can be seen towards 26085 & 26330 levels, where as support is pegged at 25580 levels.

MCX Sep Silver; hanging man candlestick pattern followed by a spinning top on daily charts renders that the temporary top has formed at 36290 and levels intact some profit booking form the same. We expect a flat beginning in today’s session and there after continued its profit booking towards 35040 & 34650 levels. Hence, Upside resistance resides at 35750 levels.


MCX Aug Natural Gas futures traded higher in the early sessions of the week and broke its “symmetrical triangle” resistance at 186 levels. Current week’s outlook remains weak and is likely to extend the fall towards the trend-line support of 174.50 levels, on a convincing close below the same will aim for the next target of 169 levels. Hence, any rise can be limited at 185.80 levels.

MCX Aug Lead futures traded higher in the past week and surged almost 3.6% on w o-w basis. A strong breakout from the falling trend-line resistance followed by a “spinning top” candlestick pattern on weekly chart renders that the price will strengthen further towards 38.2% Fibonacci level of 119 levels followed by an immediate target of 115.90 levels. Hence, any fall can be utilized to accumulate fresh longs at 112.20 levels.

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Friday, 14 August 2015

Daily Updates about Metals and Energy in Commodity Market

MCX Aug Crude oil futures have resumed its privileged bearish trend by violating its rising trendline support at 2804 levels and ended at 2773 levels. This signifies for a continuation of bearish trend in the near future towards 2710 & 2650 levels. Hence, any bounce can be utilized to create shorts at 2800 levels.


MCX Aug Cotton sharp rebound followed by a “spinning top” candlestick pattern on daily charts renders that the near-term uptrend has intact and further rally could be possible towards 16450 & 16600 levels. Hence, any fall can be hold at 16200 and add some fresh buying pressure from the same.

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Thursday, 13 August 2015

Daily Updates about Metals and Energy in Commodity Market

Gold futures staged a strong rally across the board on Wednesday reacting swiftly to PBOC’s move to devalue its currency for second consecuting day. Comex gold for Dec delivery surged to 3-week high of $1124.50 per ounce.

Silver futures also surged to 3-week high in line with gold and made an intraday high of $15.57 per ounce. MCX silver futures surged to make an intraday high of Rs. 36171 per kg.


Crude prices yesterday after showing some initial gains above 2%, moved down to just 0.50% in international market post release of DoE data.

NG prices yesterday gained more than 3% at NYMEX getting closed at $2.931/ MMBTu for the September contract.

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Wednesday, 12 August 2015

Daily Updates about Metals and Energy in Commodity Market

MCX Oct Gold futures met our mentioned target of 24990 and ended at 25122 levels, up by 227 points. Further positive outlook remains in-line and is likely to extend the gains towards 25260 & 25410 levels. Hence, any fall can be utilized to accumulate fresh longs at 24955 levels.

MCX Aug Crude futures rose to as high as 2913 levels, but failed to hold the gains and fell sharply towards the day low of 2780 levels by forming a “bearish engulfing” on daily charts. This development can drag the prices further down towards 2736 & 2675 levels. Hence, any rise can be limited at 2813 levels.


MCX Aug Nickel; after a sharp recovery on Monday’s session, surprisingly it was begun the day with a negative note and thereafter continue the same trend, finally ended at 693.80 levels. Currently prices hovering near key support at 686 levels, on a convincing break below the same will intact further weakness towards 673 & 658 levels. 

NCDEX Sep Jeera was revised the downtrend by violating its “descending channel” trend-line resistance at 15125 and settled well above the same. This signifies that the recovery form 14650 is still in progress and further rally can be possible towards 38.2% Fibonacci level of 15543 levels.

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Monday, 10 August 2015

Daily Updates about Gold,Silver and Energy in Commodity Market

Gold rose on Friday as investors assessed U.S. non-farm payrolls data that may indicate the Federal Reserve will delay an immediate interest rate hike, but was still on course for a weekly fall.

Silver prices rose 1.8 percent to trade at $14.85 an ounce, its sharpest single-session gain since May 13. U.S. employment rose at a solid clip in July and wages rebounded after a surprise stall in the prior month, signs of an improving economy that opened the door wider to a Federal Reserve interest rate increase in September.

Crude oil dipped on Friday, plumbing multi-month lows and heading for a sixth straight week of losses, as the approaching end of the U.S. summer driving season suggested a growing surplus in gasoline supply.

U.S. natural gas futures eased lower on Friday on forecasts for cooler but still above normal temperatures over the next two weeks and expectations of weaker air conditioning demand.

Copper hit a six-year low on Friday and zinc touched its weakest in two years as gloomy sentiment about global growth and oversupply continued to weigh on the market.

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Wednesday, 5 August 2015

Daily Commodity Market Trading News and Updates

MCX Oct Gold prices continuing to point lower n the past session on extending its privileged bearish trend. Further bearish outlook remains in-line towards the horizontal support of 24690 levels and on a convincing close below the same will extend till 24560 levels. Hence, upside resistance resides at 24860 levels.

MCX Aug Lead was reversed the downtrend by violating its falling trend-line resistance at 109.55 levels and managed to close well above the same. However, a strong bull close followed by a “pin bar” candlestick pattern on daily charts can lead the prices further up towards 112.15 & 113.60 levels, where as support lies at 110.50 levels.

NCDEX Aug RM Seed was reversed the uptrend from falling channel resistance at 4200 levels and ended down by 1.27% in the past session. Now the view remains weak and is on verge to test the channel support at 4030 levels. However, any bounce can be capped at 4135 levels.

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