Friday, 30 October 2015

Best News Provider for Mcx Commodity Market

Gold prices are trading higher today at $1172.1 per ounce while MCX gold prices is trading lower by 1 percent at Rs.27030 per 10 gms. Gold prices although rebounded from lowest level in two weeks is still near its lowest level in two weeks after the Federal Reserve hinted at a possible U.S. rate hike in December, thereby raising prospects of rate hike in December.


LME Copper prices declined by 0.6 percent as the Fed downplayed concerns of global growth and sounded optimistic regarding the recovery in the US economy, thereby raising prospects of an early rate hike in December. However, weakness in the DX along with plunge of 1.2 percent in LME stocks restricted sharp fall. MCX copper prices plunged by 0.6 percent to close at Rs.345.40/kg.

MCX Oil prices are trading lower by 0.3 percent trading at Rs.2988 per barrel. Prices surged by more than 6 percent on Wednesday as Mexico’s state-owned Petróleos Mexicanos, known as Pemex, said it had received permission from the U.S. to import as much as 75,000 barrels a day of highquality “light” crude starting this month.

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Thursday, 29 October 2015

Best Mcx Commodity Tips Provider in India

Gold prices are approaching resistance at 27100 levels. Prices need to trade above this level to rally further towards 27200/27250 areas. Intraday outlook will turn negative once the counter breaks below 26900 levels. Gold will correct towards 26760 levels in that case. Failure to sustain between 27050—27100 can be sold into by day traders.

Silver prices are trading around resistance around 37200 levels. Sustenance above 37250 will take prices higher towards next resistance between 37350/37400 zones. A sharp fall cannot be ruled out from higher levels. Any major downside in the counter is likely only if prices close below 36600 levels. A daily close below this support will open downside targets of 36250/36000 levels. A breakout above 37400 will see prices rally towards 37700 levels.

Nov. Crude Oil prices have managed to bounce from its support at 2790 levels. Prices need to sustain above 2873 to move higher towards resistance between 2895/2910 levels. Failure to sustain above 2873 will see prices slip towards 2807/2790 levels again. A break below 2790 will see prices correct towards 2740 levels. Prices need to breakout above 2910 for a reversal.

Sustenance below 154 will see Nov. natural gas prices slip lower towards 152.20 levels. Intraday view for the counter will remain negative until prices stay below 156.50 levels. A break below 152 will take prices lower towards 150/148.80 levels. A decisive breakout above 156.50 will see prices re-test 158.50 levels. Major resistance is seen around 160 levels.

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Wednesday, 28 October 2015

Crude Oil and Natural Gas Updates in Mcx Commodity

Crude Oil-Intraday parameters suggest that prices are making lower highs and lows. However some relief rally can be seen till 2880 levels. Prices are expected to hold yesterday's low of 2790 levels.

Natural Gas. Prices are trading in steep downtrend. Any recovery in prices leads to
heavy selling in the market. Hence, in intraday it is expected to fall back again till 152.20 levels.

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Gold could remain range bound to weak. Key intraday support is at 1158.9. Resistance is at 1167.4. MCX Gold could also remain range bound to weak, tracking weak overseas prices. Key intraday support is at 26576. Key intraday resistance is at 27108.

Silver could continue range bound to weak. Key intraday support is at 15.64. Key intraday resistance is at 15.96. MCX Silver could trade range bound to weak, tracking weak overseas prices. Key intraday support is at 36637. Key intraday resistance is at 37117.

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Tuesday, 27 October 2015

Crude Oil and Natural Gas Updates in Mcx Commodity

The above is hourly chart of Crude Oil. Prices are making lower highs and lows in intraday parameter. However, if prices recover above 2875 level then it will move towards 2915 levels. On flip side, support is located at 2830 levels.

The above is hourly chart of Natural Gas. Prices are trading in steep downtrend in the near term. Momentum indicator RSI suggest strong bearish range on the momentum. In today's session prices are expected to fall further till 125 levels. On upside, resistance is located at 140 levels.

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Best News Provider for Commodity Market Gold and Silver

Gold could remain range bound to weak. Firm Dollar could limit upside. Key intraday support is at 1160.0. Resistance is at 1172.0. MCX Gold could also remain range bound to weak, tracking weak overseas prices. A depreciating Rupee could limit downside. Key intraday support is at 26700. Key intraday resistance is at 26985.


Silver could continue range bound to weak, as the Dollar rebounded. Key intraday support is at 15.63. Key intraday resistance is at 16.05. MCX Silver could trade range bound to weak, tracking weak overseas prices. A depreciating Rupee could limit downside. Key intraday support is at 36640 and 36500. Key intraday resistance is at 37115 and 37205.

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Monday, 26 October 2015

Today's Mcx Commodity Market New Update

MCX Dec Silver’s choppy and sideways trading continued last week and stayed in the range of 36600 to 37720 levels. This week’s outlook remains sideways and on a convincing breakout of either side will provide hints about further direction in the counter.

MCX Nov Crude oil prices shed almost 180 points and ended in a negative zone, as the bears have regained the strength for near future. Currently prices are hovering near its key horizontals supports at 2890 levels and on a convincing close below the same will intact further weakness towards 2773 & 2680 levels.

MCX Oct Aluminum continued its downward journey as the price have given a breakdown from the key trend-line support at 99.30 levels and reached to its 2010’s low of 93.85 levels. Overall bearish outlook remains unchanged and further fall is possible towards 91.90 & 88.70 levels. However, an oversold RSI indicates some short covering in the counter and one can utilize the same for fresh shorts at 97.10 levels.

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Friday, 23 October 2015

Daily Mcx Commodity Market Trading Tips and Advice

On an intraday basis, we expect gold prices to trade sideways as investors will keenly watchUS Federal Reserve meeting on 26th October will have a large impact across commodities if it provides clues about the timing of rate hike.


IEA and OPEC forecast shows that oil glut and higher supplies will be the crucial factor dominating oil markets which in turn will exert downside pressure on oil prices.

We expect Copper prices to trade lower as focus shifts on the Federal Reserve latest monetary review this month. Also, slowing Chinese economy along with rising expectations of rate hike will hurt demand.

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Wednesday, 21 October 2015

Best Trading Tips for Gold and Silver by MarketMagnify

Gold:
Gold prices have managed to rebound from its session lows at 26913 levels. Any major upside momentum though is likely only if prices sustain above resistance at 27120 levels. Failure to trade above this level will see prices slip towards 26900 levels again. A decisive break below 26900 will extend the correction towards 26750/26700 zones. Momentum above 27120 will take prices higher towards 27210/27300 levels.


Silver:
The outlook on silver will be negative until prices stay below 37400 levels. Counter should test immediate support between 36700— 36600 zones. A break above 37400 will see prices head for a re-test of major resistance zones between 37650—37750 levels. A daily close below 36600 will see prices slip towards 36200/36000 levels.

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Tuesday, 20 October 2015

Today's Mcx Commodity Market New Update

Gold is consolidating near the important level of 1175. A close below could pull prices to 1165.0. On the other hand, close above could push prices to 1190.0. A firm Dollar may keep upside limited. MCX Gold could also remain range bound to weak, tracking weak overseas prices. Key intraday support is at 26770. Key intraday resistance is at 27296. 

Silver continue trade lower as the Dollar rebounds. Key intraday support is at 15.76. Key intraday resistance is at 16.13. MCX Silver could also range bound to weak, tracking weak overseas prices. Key intraday support is at 36800. Key intraday resistance is at 37373. 

Copper could remain range bound to weak as the data from China remains weak. Intraday resistance is at 5300. Intraday support is at 5220. MCX Copper could remain range bound to weak, tracking weak overseas prices. Intraday support is at 343.45. Intraday resistance is at 347.85.

Nickel could trade range bound to weak. Intraday resistance is at 10680. Intraday
support is at 10355. MCX Nickel could remain range bound to weak, tracking weak overseas prices.
Supports are at 675.85. A close below could pull prices to 660 levels. Resistances remain at 691.25. 

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Friday, 16 October 2015

Mcx Commodity Market Crude Oil and Natural Gas Updates

Oil-rig reductions suggest a decline of more than 250,000 bpd in U.S. crude production between the second and fourth quarters of this year, Goldman Sachs said in a report.
                   NYMEX crude oil (CMP: $46) can possibly move lower towards $40, while MCX crude (CMP: Rs.3006) can move lower to the extent of Rs.2700/bbl in the medium term.


Natural gas prices on the NYMEX declined by around 6.15 percent in Sep’15 while MCX prices also declined by 6.72 percent. In the same time frame, rupee appreciated by around 1.35 percent.
                  
 We expect natural gas prices on the NYMEX to head higher towards $2.95/MMBTU (CMP: $2.52) while MCX NG prices can head higher towards Rs.195/MMbtu. (CMP: Rs.164).

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Thursday, 15 October 2015

Daily Mcx Commodity Market Trading Tips and Advice

Spot gold prices are trading lower today by $1.43 at $1167.1 per ounce while MCX gold prices are trading higher by 0.08 percent at Rs.27000 per 10 gms. Gold hit three-month highs on Wednesday, extending gains for a fourth session, as concerns over deflationary pressures in China fuelled expectations the Federal Reserve will hold off raising U.S. interest rates, pressuring stocks and the dollar.

In-line with our earlier view, MCX Dec Silver prices gained 0.60% in the past session on an extending process of its privileged bullish trend. Currently prices are facing an immediate resistance at 37710 levels and on a convincing break above the same will extend the gains towards 38400 & 38950 levels.

MCX Nov Copper futures took support from 344.85 levels and started inching higher in the past session, finally resulted as a “bullish hammer” on daily charts. This indicates for an uptrend in coming sessions towards 353.80 & 357 levels.

MCX Oil prices are trading lower by around 1.81 percent trading at Rs.3033 per barrel. Oil eased further below $50 a barrel on Wednesday, falling for a third day, on concern a supply glut will persist and demand slow down as economic growth moderates in No. 2 consumer China.

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Wednesday, 14 October 2015

Commodity Market Evening Report

Silver
Silver prices have retraced from its session highs at 37580 levels. A break below 37350 will push prices lower towards 37100/36900 levels. A break above 37580 will see prices move higher towards recent swing highs at 37719 levels. A daily close above 37800 will be positive for the counter. Immediate support is seen around 36600 levels.

Natural Gas 
Sustenance below 163 levels will lead to further weakness in natural gas prices. Counter can slip towards 161.50/160 in that case. A decisive breakout above 164 will take prices higher towards 166/166.50 levels. Major support for the counter is seen between 160--159.50

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Spot gold prices are trading lower today by 1 percent at $1154.7 per ounce while MCX gold prices are trading lower by 0.13 percent at Rs.26759 per 10 gms. Gold fell nearly 1 percent on Tuesday as sellers took advantage of the previous session's three-month high to book profits, though losses were limited by expectations the Federal Reserve will not lift U.S. interest rates this year. 


LME Copper prices plunged by 0.8 percent as trade balance data showed Chinese imports declined 20 percent in September, thereby raising doubts on the strength of domestic demand in the world’s biggest consumer. However, sharp losses were cushioned as China's monthly copper imports surged a third in September, hitting a 20-month high. Also, decline of 0.9 percent in LME stocks acted as a positive factor. MCX copper prices fell by 0.4 percent to close at Rs.352.65 per kg.

MCX oil prices are trading lower by around 0.6 percent trading at Rs.3057 per barrel. Report from the International Energy Agency (IEA) forecasting a global supply glut would last through 2016. Oil prices dropped more than 5 percent on Monday on news of higher output by the Organization of the Petroleum Exporting Countries and on expectations of higher U.S. crude stockpile.

Tuesday, 13 October 2015

Mcx Commodity Market Trading Tips and Advice

MCX Dec Gold was begun the day in a gap up and thereafter continued the same trend and finally settled at 26825 levels, up by 203 points. Positive outlook remains unchanged and further rally is possible towards 26945 & 27070 levels, where as a support pegged at 27730 levels.


MCX Oct Nickel futures rose to as high as 697.20 in the first half before making a temporary top there and turned into weak mode by forming a “hanging man” candlestick pattern daily chart. This signifies for a trend reversal in coming sessions and it can drag the prices further down towards 672 & 660 levels.

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Monday, 12 October 2015

Today Commodity Market News and Updates

Spot Gold prices are trading higher today trading at $1155.56 per ounce while MCX gold prices are trading higher by 0.81 percent at Rs.26659 per 10 gms. Gold rose to a three-week high on Friday after minutes from the Federal Reserve's last policy meeting showed the U.S. central bank was in no hurry to raise interest rates.


Zinc surged 10 percent on Friday and other base metals soared after commodities giant Glencore said it would slash its zinc output by a third, sparking a short covering rally across the board.

Copper prices on the LME rose by 4 percent and trading at $5341 per tone, while MCX copper prices rose by around 3.1 percent toclose at Rs.350.40 per kg.

Oil prices are trading higher by 2.1 percent at $50.47 per barrel, while, MCX oil prices are trading higher by around 1.6 percent trading at Rs.3271 per barrel.

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Friday, 9 October 2015

Mcx Commodity Market Crude Oil and Natural Gas Updates

                                                                             Crude Oil
Crude oil prices sold-off post the inventory data yesterday. Failure to break below 3100 will see prices rebound towards 3200-3210 levels again. Fresh selling can be seen as prices approach these levels. The outlook will be that of sell on rise until prices stay below 3260 levels. A break below 3100 will open downside targets of 3050/3040 for crude.

Natural Gas
Oct. Natural Gas prices need to break above 165 levels for a positive reversal in the counter. A decisive break below 159 will open downside targets of 155 levels in natural gas. A breakout above 165 will see prices rebound towards 167.60 levels.

Thursday, 8 October 2015

Best Mcx Commodity Tips Provider in India

Gold rose to its highest in nearly two weeks on Tuesday as the Dollar fell in the wake of disappointing U.S. economic data that raised doubts over a Federal Reserve interest rate rise this year.

Indian Gold and Silver moved higher on Tuesday, tracking firm overseas prices. Gold spot rate in India was quoted at Rs. 26,580/10 Grams for 24 carat purity, down by 40

Silver rose to the highest in more than three months, extending gains above its 200 day moving average. It has gained nearly 10% since Thursday's close.

Silver Trust (SLV) Total MT in Trust: 9,903.21: No change from yesterday’s data. Silver production totalled 763.9 MT, up from 661.4 MT in January-August last year, it added.

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Wednesday, 7 October 2015

Today's Special Report on MCX Crude Oil by MarketMagnify

MCX Oct Crude oil; after a steep selloff from 4270 to 2650 levels, Oil prices have started inching higher from the lower levels in a V shape corrective mode. In this process its has developed a trend continuation chart pattern called as a “descending triangle” on daily charts and the neck-line breakout of the same took place at 3090 levels, that will act as a key support for the near future. Now for short term, bias remains positive and further rally is possible towards 3480 levels, which is an equality target of the chart pattern and on a convincing close above the same will extend the gains towards 61.8% Fibonacci level of 3647 levels.


On the other hand, strong positive close in last two daily trading sessions coupled with huge volume participation and a strong bull candle on weekly charts has increased the potentiality of an uptrend in coming sessions. However, any sharp fall below 2930 levels will negate the pattern and drag the prices further down.

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Monday, 5 October 2015

Best Trading Tips for Gold and Silver by MarketMagnify

Gold prices posted the biggest rally in 9 months on Friday after the weaker than expected jobs data.

The number also wiped out the expectations of an early rate hike which boosted the Gold’s sentiments the most. Elsewhere, Gold speculator and large futures traders boosted their gold bullish positions higher last week for a second consecutive week and to the highest level since June, according data released by the Commodity Futures Trading Commission (CFTC) on Friday.

Silver prices posted a 5 % rally on Friday after the dismal employment data dampened the rate hike expectations.

Silver prices rallied too in tandem with the rally seen in overall precious metals complex. World Bank has recently downgraded the China’s GDP forecast to 6.9 % from an earlier figure of 7.1 %, which is further likely to support the precious metals on the upside. The prices at MCX are expected to open with a gap up given the fact that the markets were closed on Friday.

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Thursday, 1 October 2015

Natural Gas and Crude Oil Technical Report By MarketMagnify

Crude Oil
Crude oil prices continue to consolidate in a narrow range. Sustenance above 3035 will see prices rebound towards 3084/3100 levels. Fresh selling can be seen if prices approach higher levels. Failure to sustain above 3030 will see prices drift lower towards 2950 levels again.

Natural Gas
Oct. Natural Gas prices closed down with a cut of 3.25% yesterday. Further weakness from current levels will see prices move lower and test 165 levels. A daily close below 165 will see prices correct further towards next support at 160 levels. Pullback rallies will face resistance between 169—170.50 levels.

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Mcx Commodity Market Trading Tips and Advice

Gold dropped dragged lower by a rising US dollar amid growing expectations that interest rates in the US will go up by the end of this year.

Silver prices dropped as optimistic U.S. employment data bolstered hawkish arguments for an interest rate hike by the U.S. central bank.

Crude oil prices dropped after data showed that oil supplies in the U.S. rose more than expected last week, underlining concerns over weak demand.

Copper prices ended with gains as bearish investors closed out positions at the quarter-end and ahead of Chinese holidays.

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