Thursday, 31 March 2016

Mcx Crude Oil and Natural Gas Price Forecast

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Hedge funds and other money managers have amassed a near-record number of bullish bets on increasing oil prices, helping push the main international benchmark well above $40 per barrel. By the close of business on March 22, money managers held a net long position equivalent to almost 579 million barrels in the three largest crude oil futures and options contracts. MCX Crude Oil Apr is trading at `2575. It is trading up by `13.

Crude Oil. It suggests that prices are forming wedge pattern, which has already given breakout on the upside. Further is has confirmed reversal in the trend by positive divergence on RSI.

Natural gas. It suggest that prices are trading in downtrend channel. However, some pullback can be seen till 125 levels. On the downside, immediate support is located at 120 levels.

Live Mcx Market News On Gold and Silver

Gold It suggests that prices are making lower highs and lows. Hence, it is expected to make another lower high till 28950 levels. On the flip side, immediate support is located at 29550 levels.

Silver It suggests that prices are taking resistance near 36890 levels. If it crosses then we could see rise upto 37485 levels. On the downside, it has immediate support at 36480 levels.

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Base Metals Prices From Commodity Market

Copper. Momentum indicator RSI suggests positive divergence on RSI. Hence, in today's session reversal can be seen if it crosses 325.50 levels.

Lead suggests that prices are making lower highs and lows. However, oversold RSI suggests reversal in the trend. On the downside, it has immediate support at 113.80 levels.

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Wednesday, 30 March 2016

Live Mcx Market News On Gold and Silver

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Gold dipped slightly on Tuesday, but held above a one-month low on a softer dollar and weak U.S. economic data that dented expectations of an immediate hike in U.S. interest rates. Traders were waiting to hear from Federal Reserve Chair Janet Yellen later in the session on U.S. interest rate outlook amid recent hawkish comments from other Fed officials. MCX Gold Apr is currently trading at `28407. It is trading down by `51 points for the day. MCX Silver May is currently trading at `36512. It is trading down by `51 points.

Silver. It suggests that prices are trading in mixed to firm note. However, it is expected to take support near 36450 levels where cluster of supports coincides. Further it has support at 36050 levels. On the upside, it has immediate resistance at 36950 levels.

Mcx Crude Oil and Natural Gas Price Forecast

Crude Oil. It suggests that prices are trading in sideways zone. On the downside, it hs immediate support at 2590 levels. On the upside, it has immediate resistance at 2690 levels.

Natural gas. It suggest that prices are trading in corrective mode. On the upside, it has immediate resistance at 132.60 levels. It is expected to correct till 126.60 levels.

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Base Metals Prices From Commodity Market

Copper suggest that prices are making lower highs and lows. It is expected to remain in bearish range. ON the upside, immediate resistance at 333.90 levels.

Lead suggests that prices are making lower highs and lows. It is expected to retest previous low of 116.80 levels. On the upside, immediate resistance is located at 120.50 levels.

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Wednesday, 23 March 2016

Live Mcx Market News On Gold and Silver

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Gold. It suggests that prices are prices are making lower highs and lows. It has immediate support at 28820 levels. If this holds then some bounce back can be expected till 29200 levels.

Silver. It suggests that prices are trading in mixed to firm note. It is expected to rise towards 38590 levels. On the downside, immediate support is located at 37485 levels.

Mcx Crude Oil and Natural Gas Price Forecast

Crude Oil. It suggests that prices are likely to turn on the downside. There is clear indication of negative divergence on RSI. On the upside, immediate resistance is located at 2790 levels.

Natural gas. It suggest that prices have breached trend line support levels and now it is indicating clear bearish trend in the short term. On the upside, immediate resistance is located at 124.80 levels.

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Base Metals Prices From Commodity Market

Copper. It suggest that prices are hovering near trend line levels. If it breaks immediate support of 336 then it will fall down till 331.40 levels. On the upside, immediate resistance is located at 340.25 levels.

Nickel suggests that prices are expected to touch previous low of 570.30 levels. On the upside it has immediate resistance at 585.90 levels. Momentum indicator RSI is suggesting bearish crossover.

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Tuesday, 22 March 2016

Mcx Crude Oil and Natural Gas Price Forecast

Live News for Commodity Market visit at www.marketmagnify.com

MCX Crude oil. It suggests that prices are making higher highs and lows. Any pullback till 2619 would be good buying opportunity for traders to go long for target of 2900 levels. On the downside, immediate support is located at 2430 levels.

MCX Natural gas. It suggests that prices are making lower highs in the short term. It is expected to turn on the downside till 120.80 levels. On the upper side, immediate resistance is located at top to top trendline level of 130.10 levels. Momentum indicator is likely to trade in bearish range only.


Live Mcx Market News On Gold and Silver

MCX Gold Oct. It suggests that prices are showing weakness in the near term. It has potential to break immediate support of 28870 levels and correct till 28425-28030 evels. On the upside, immediate resistance is located at 29420 and 29600 levels.

MCX Silver. In the last wee, prices failed to cross immediate resistance of 37100 levels and turned on the downside. Recent development suggests further correction till 36835 levels. If it is taken out then it could fall till 35910 levels. On the upside, 37100 is likely to act as strong resistance level.

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Base Metals Prices From Commodity Market

Copper. It suggests that prices are making higher highs and lows. However, it is remain capped under resistance of 343.40 levels. It has potential to correct till 330.75 levels. Further fall could extend its losses upto 322 levels. Hence, prices are likely to trade on negative note.

MCX Lead. It suggests that prices are making higher highs and lows. However, double top at 127.65 and break of trendline level suggests bearish trend in the prices. Hence, prices are likely to break 119.30 and touch 115.20 in upcoming period. On the upside, immediate resistance is located at 122.70 and further at 125.40 levels.

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Monday, 21 March 2016

Live Mcx Market News On Gold and Silver

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Gold. It suggests that prices are prices are making lower highs and lows. However, in today's session it is expected to touch upper resistance of 29575 levels. On the flip side, immediate support is located at 29200 levels.

Silver. It suggests that prices are trading in mixed to firm note. It is expected to rise towards 38800 levels. On the downside, immediate support is located at 38100 levels. 

Mcx Crude Oil and Natural Gas Price Forecast

Crude Oil. It suggests that prices are making higher highs and lows. It is expected to rise towards 2750 levels. On the lower side, immediate support is located at 2584 levels.

Natural gas. It suggest that prices are making higher highs and lows. It is expected to gain further till 131 levels. On the lower side, immediate support is at 126.50 levels.

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Base Metals Prices From Commodity Market

Copper. It suggest that prices are likely to cross immediate resistance of 343.40 levels. It may further gain till 351.40 levels. On lower side, immediate support is located at 339 levels.

Nickel suggests that prices have given breakout from top to top trendline. It is expected to rise towards 618.50 levels. On the lower side, it has immediate support at 588 levels. Momentum indicator RSI is suggesting upwards trend.

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Friday, 18 March 2016

Live Mcx News on Gold and Silver by MarketMagnify

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Gold. It suggests that prices are prices are making lower highs and lows. However, in today's session it is expected to touch upper resistance of 29575 levels. On the flip side, immediate support is located at 29200 levels.

Silver. It suggests that prices are trading in sideways zone. Technically, it is expected to hold lower support of 36870 levels. It is expected to bounce back towards 38150 levels.

Latest Commodity News on Crude Oil & Energy

Crude Oil. It suggests that after taking support near 2430 levels prices have bounced back above 2600 levels. It is expected to extend its gain till 2660 levels. On lower front, immediate support is located at 2560 levels.

Natural gas. It suggest that prices are making higher highs and lows. It is likely to move further upside till 131 levels. On the downside, immediate support is located at 122.90 levels.

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Base Metals Prices News and Research

Copper. It suggest that prices have given breakout on the upside. It has potential to move further upside till 343.50 levels. On the lower side, immediate support is located at 333.80 levels.

Nickel suggests that prices are trading in sideways zone. It is expected to test resistance of 588 levels. On lower side, immediate support is located at 572 levels. Momentum indicator RSI suggests strength in the indicator.

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Thursday, 17 March 2016

Latest Commodity News on Crude Oil & Energy

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Crude Oil. It suggests that prices are likely to remain capped under resistance of 2510 levels. It is expected to fall down till 2430 levels.


Natural gas. It suggest that prices are making higher highs and lows. It is likely to move further upside till 129.10 levels. On the downside, immediate support is located at 122.90 levels.

Live Mcx News on Gold and Silver by MarketMagnify

Gold. It suggests that prices are likely to bounce back till 29375 after taking suport near lower trend line located at 28870 levels. Hence, prices are expected to show reversal in the trend.

Silver. It suggests that prices are trading in sideways zone. Technically, it is expected to hold lower support of 36620 levels. It is expected to bounce back towards 37420 levels.

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Base Metals Prices News and Research

Copper. It suggest that prices are likely to give breakout on the upside. It has potential to move further upside till 343.50 levels. On lower side, immediate support is located at 330.70 levels.

Nickel suggests that prices are trading in sideways zone. It is expected to bounce back till 597 in today's session. On lower side, immediate support is located at 575.50 levels.

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Wednesday, 16 March 2016

Base Metals Prices News and Research

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Copper. It suggest that prices are making lower highs and lows. It is expected to fall till 330.70 levels. On the upside, immediate resistance is located at 335.60 levels.

Nickel suggests that prices are trading in choppy zone. Downside support of 578.50 is still holding in the short term. Hence, prices are expected to bounce towards 601.80 levels.

Lead suggests that downside bias. On the upside, it has immediate resistance is located at 124 levels. Bearish momentum indicator RSI suggests further fall till 121.50 levels.


Live Mcx News on Gold and Silver by MarketMagnify

Gold. It suggests that prices are likely to bounce back till 29300 after taking suport near lower trend line. Further it has support at 28700 levels. Hence, prices are expected to show reversal in the trend.

Silver. It suggests that prices are trading in sideways zone. Technically, it is expected to hold lower support of 36620 levels. It is expected to bounce back towards 37420 levels.

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Latest Commodity News on Crude Oil & Energ

Crude Oil. It suggests that prices are making lower highs and lows. In today's session, if it breaks 2465 then sharp fall can be seen till 2393 levels. On the upper side, immediate resistance is located at 2510 levels.

Natural gas. It suggest that prices are making higher highs and lows. It is likely to move further upside till 126.70 levels. On the downside, immediate support is located at 119.50 levels.

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Tuesday, 15 March 2016

Live Mcx News on Gold and Silver by MarketMagnify

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MCX Gold Oct. It depicts that prices are taking resistance at horizontal trendline located at 30160 levels. After gaining more than 13 percent in last 2 months prices are trading in sideways zone. On the downside, immediate support is located at 29065-28425 and further at 28030 levels. However, cross of crucial resistance 30160 will take it towards 30670 levels.

MCX Silver just like international Silver, MCX prices are also forming cup and handle pattern. In this week, it is expected touch immediate resistance of 38180 and further 38850 levels. On the flip side, immediate support is located at 36650 and 37150 levels. Hence, bias is expected to trade on bullish mode.


Latest Commodity News on Crude Oil & Energ

MCX Crude oil. It suggests that prices are taking resistance near 2665 levels. Last Friday’s Doji candle suggests reversal in the uptrend. Hence, it is expected to give correction till 2465 and 2400 levels. However, if it continues its bullishness then it will gain till 2890 levels.

MCX Natural gas. It suggests that prices are making lower highs in the short term. It is expected to gain further upside till top to top trendline resistance 134 levels. Further momentum could extend its gain upto 141.25 levels. On the downside, immediate support is located at 114.20 levels.

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Base Metals Prices News and Research

MCX Copper On primay trend prices are making higher highs and lows. After taking support near 330.75, prices have gained on the upside. It is expected to cross previous high of 343.40 and further till 352 levels. On the flip side, immediate support is located at 330.75 and 322 levels.

Nickel. It suggests that prices forming broadening pattern. It is expected to take support near 572.10 and potential to bounce back towards 638.50 levels. It has further support at 543.30 levels. Hence, prices are expected to trade on bullish note.

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Monday, 14 March 2016

Live Mcx News on Gold and Silver by MarketMagnify

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Gold on MCX settled down -1.44% at 29500 as the dollar rebounded, after prices showed good gains on Thursday after the European Central Bank's announcement of new easing measures. ECB President Mario Draghi rolled out measures on Thursday including increased asset buying and a deeper cut to deposit rates, but signalled there would be no further rate cuts.

Silver dropped amid heavy profit taking, as investors brace for potential divergence among major central banks, after the European Central Bank used nearly all of the tools at its disposal at a closely-watched meeting to stimulate flagging growth throughout the euro zone.

Latest Commodity News on Crude Oil & Energ

Crude Oil on MCX settled up 1.65% at 2595 as an upbeat report by the International Energy Agency boosted hopes for a production cut. Oil prices might have bottomed as production declines in the United States and other non-OPEC producers accelerate and an increase in Iranian supply has been less than dramatic, the International Energy Agency said.

Oil prices hit their lowest since 2003, below $30 per barrel, in January on a supply glut stemming from booming U.S. output in recent years and a decision by OPEC to ramp up supply to fight for market share against higher-cost producers.

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Base Metals Prices News and Research

Copper on MCX settled up 0.48% at 334.5 as funds reversed bets on lower prices ahead of economic data from top consumer China, but a stronger dollar capped gains. Many traders and funds, which last week and earlier in the week sold copper, are buying it back ahead of industrial output and investment data over the weekend from China, which accounts for nearly half of global demand estimated at 22 million tonnes.

Nickel on MCX settled down -0.74% at 588.7 as pressure seen on prospects for slower demand from China. Earlier in the week there are reports that Nickel ore producers in the Philippines have agreed to slash output and shipments this year by as much as 20 percent, responding to a slide in the price of the metal to its lowest in over a decade on weak Chinese demand.

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Friday, 11 March 2016

Commodity Gold and Silver News by MarketMagnify

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Gold. It suggests that prices are showing positive divergence on RSI. Hence, prices are expected to erase last 2 day's losses. On the downside, immediate support is located at 29200 levels.

Silver. It suggests that prices are taking support near 61.8 percent Fibonacci retracement levels. Momentum indicator RSI is expected to recover back on the upside. It has potential to retest 37370 levels. On the downside, immediate support is located at 36510 levels.

Mcx Market News On Energy

Crude Oil. It suggests that prices are trading in sideways zone. On the upside, immediate resistance is located at 2595 levels. Prices are expected to touch lower Bollinger band level located at 2593 levels.

Natural gas. It suggest that prices are likely to trade on higher note. It is expected to move further higher till 124 levels. On the downside, immediate support is located at 117.20 levels.

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Base Metals News for Today

Copper. It suggest that prices are trading in sideways zone. On the downside, immediate support is located at 331.80 levels. In today's session it is expected to trade on higher note with potential target of 338 levels.

Nickel suggests that prices are expected to move upside till 609.50 in today's session. On the flip side, immediate support is located at 578.50 levels.

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Thursday, 10 March 2016

Mcx Market News On Energy

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Crude Oil (Rs/Bbl):
Crude oil witnessed a sell-off from its resistance at 2600 levels yesterday. Weakness below 2466 will see prices correct further towards 2429/2400 levels. Momentum above 2500 will see prices rebound towards 25308/2550 zones. Areas between 260 —2650 are strong resistance zones for Oil.

Natural Gas (Rs./Mmbtu):
Natural Gas prices needs to sustain above 118.20 to bounce towards major resistance zones between 121—122 zones. Failure to trade above this levels will see prices slip lower towards 114 again. A daily close below 113 will see prices re-test 109 areas.

Commodity Gold and Silver News by MarketMagnify

Gold:
Gold prices couldn’t sustain at its swing highs at 30161 levels yesterday. Weakness below 29540 will see prices correct towards 29400 areas. Intraday pullback rallies will face resistance at 29930/30095 zones. A daily close below 29400 will trigger a correction towards 29080 levels.

Silver:
Silver can bounce higher until prices hold on above 37050 levels. Prices can test 37500 levels in that case. Areas between 36950— 36770 are strong support zones for the counter on the downside. Daily close above 37500 will see prices bounce towards 37950/38100 zones again.

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Base Metals News for Today

Copper:
Copper prices witnessed a sharp correction from its intraday highs at 342.10 levels yesterday. The counter though managed to hold on to its support around 331 areas. The counter can test its immediate resistance around 337.50 areas. Further upside is likely only if prices breakout above this level. A daily close below 331 will trigger a correction towards 326/325 zones.

Zinc:
Zinc prices have managed to bounce from its lows at 118.35 levels. The counter can test its resistance around 122.80-123 zones. The counter is likely to face resistance as prices approach higher levels. A daily close below 118 will trigger a correction towards 113 levels. Until then we expect prices to trade in a range between 124.50 118 zones.

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Wednesday, 9 March 2016

Commodity Gold and Silver News by MarketMagnify

MCX Gold Oct daily chart. Domestic prices are still trading below its previous high of 30095 levels. It is expected to cross that level to gain further till 31500 levels. Momentum indicator RS is hovering near bullish territory, suggests strong upmove. On the flip side, it has immediate support is located at 29413 levels.


MCX Silver daily chart. just like international Silver, MCX prices are also forming cup and handle pattern. In this week, it is expected touch immediate resistance of 39000 and further 39500 levels. On the flip side, immediate support is located at 37150 levels. Hence, bias is expected to trade on bullish mode.

Mcx Market News On Energy

MCX Crude oil. It suggests that prices are making higher highs and lows. After cross immediate resistance of 2400, prices gained sharply above 2500 in yesterday’s session. It is expected to extend its upside rally upto 2665 levels. On the flip side, immediate support is located at 2400 levels.

MCX Natural gas. It suggests that prices have given breakout from top to top trendline. It is expected to gain upside till 121 and 125 levels. On the flip side, immediate supports are located at 114.50 and further at 111 levels. Momentum indicator RS is supporting bullish view.

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Base Metals News for Today

MCX Copper . After crossing crucial resistance of 321.50, prices gained sharply above 335 levels. In this week, it is expected to rise towards 351.70 levels. On another side, immediate support is located at 329.80 and further at 320.80 levels.

Nickel. It suggests that prices have crossed resistance of 600 levels and marked a high above 638.50 levels. Furthermore, prices are expected to continue its bullish trend till 660 levels. On the flip side, immediate support is located at 582 levels.

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Tuesday, 8 March 2016

Commodity Gold and Silver News by MarketMagnify

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SPDR Gold Trust GLD, the world's largest gold-backed exchangetraded fund, said its holdings stood at 793.12 down 0.21 tonnes, from previous business day.

Holdings of the largest silverbacked exchange-traded-fund (ETF), New York's iShares Silver Trust SLV, stood at 10035.30 up 71.13 tonnes, from previous business day.


Mcx Market News On Energy

China's crude oil imports in February rose 20.2 percent on a daily basis compared to same month last year, reaching a new record, official customs data showed on Tuesday.

Oil exports from northern Iraq nearly halved in February due to the ongoing outage of a pipeline to Turkey, wiping $350 million off the cash-strapped Kurdistan region's revenues as it battles Islamic State.

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Base Metals News for Today

China's imports of copper fell 4.5 percent from month ago to 420,000 tonnes in February, data from the General Administration of Customs showed.

China exported 280,000 tonnes of unwrought aluminium and aluminium products, including primary, alloy and semi-finished aluminium products, in February, down from January's 380,000 tonnes.

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Friday, 4 March 2016

Today's Mcx Commodity News on Precious Metals

Latest Updates of Commodity Market Only at

Gold. It suggests that prices are recovering on the upside after making low of 29079. However, it has some hurdle at 29400 levels, which if crosses then prices may rise towards 29680 levels.

Silver. It suggests that prices are likely to give breakout from top to top trendline. It has immediate support at 36050 levels. It has potential to rise towards 36990 levels.

Daily Commodity Market Energy News

Crude Oil. It suggests that prices are finding hurdle at 2400 levels. Momentum indicator RSI is not crossing stated 70 levels. It is expected to fall down till 2280 levels.

Natural gas. It suggest that prices are making lower highs and lows. However, Momentum indicator RSI is diverging with the prices.

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Base Metals News on Commodity and Mcx Market

Copper. It suggest that prices are making higher highs and lows. It has potential to rise towards 335 levels. On the flip side, immediate support is located at 325.50 levels.

Nickel suggests that prices are making higher highs and lows. It is expected to rise towards 603.90 levels. Momentum indicator RSI has again crossed signal line. Hence, prices are expected to trade on bullish mode.

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Thursday, 3 March 2016

Today's Mcx Commodity News on Precious Metals

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Gold on MCX settled up 0.39% at 29339 as the U.S. dollar turned lower, shrugging off a turn higher in global shares and better-than-expected U.S. economic data. The metal left February with the sharpest monthly gain in four years (almost 10%) as concerns over global economic growth spurred demand for safe-haven assets and boosted fund buying.

Silver on MCX settled up 1.15% at 36504 amid a slightly higher dollar, as solid U.S. private sector employment data provided optimism on the near-term outlook of the U.S. economy ahead of Friday's critical jobs report. The ADP Research Institute said nonfarm private employment rose by 214,000, last month, topping expectations for gains of 190,000. It came after ADP downwardly revised employment data in January by 12,000 to 193,000. While ADP's forecasts do not always mimic the results from the Labor Department's monthly report, their predictions have been fairly accurate over the last two months.

Daily Commodity Market Energy News

Crude oil settled flat recovering from lows as buyers shrugged off record high U.S. crude stockpiles to focus on an OPEC plan to freeze production, keeping alive the notion that market has bottomed from a near two-year selloff. The U.S. EIA said in its weekly report that crude oil inventories soared by a whopping 10.4 million barrels in the week ended February 26. Total U.S.

Copper on MCX settled up 1.25% at 328.3 bolstered by optimism that global growth will pick up and as speculators chased the rally. China's central bank announced a cut in the amount of cash that banks must hold as reserves, freeing up an estimated $USUS100 billion ($USA139.30 billion) for fresh lending.

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Base Metals News on Commodity and Mcx Market

Zinc on MCX settled up 1.11% at 122.45 on expectations of tighter supplies due to output cuts and mine closures. Zinc, which is mainly used to galvanise steel, is the best performing LME metal this year, rising 12 percent on forecasts that shortages will develop due to the closure of major mines.

Nickel settled down as prices witnessed selling due to rise in LME inventories and prices again failed to sustain above 600 level despite of expectations of further Chinese stimulus measures after manufacturing data disappointed.

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Wednesday, 2 March 2016

Base Metals News on Commodity and Mcx Market

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World No. 1 Copper producer Chile produced 453,638 tonnes of copper in January, down almost 14 percent from a year earlier, as the year-long rout in prices forced miners to scale back output, the government said on Monday.

Some big Aluminium producers are seeking a premium of $125- $130 per tonne from Japanese buyers for April-June primary metal shipments, up 14 percent to 18 percent from the previous quarter, four sources involved in pricing talks said on Monday.

Today's Mcx Commodity News on Precious Metals

Precious metals rose 1 percent on Monday, boosted by lower equities and weak U.S. data, leaving the metal well placed to log its best monthly performance in four years as turmoil in wider markets increased its safe-haven appeal.

SPDR Gold Trust GLD, the world's largest gold-backed exchangetraded fund, said its holdings stood at 777.27 up 14.87 tonnes, from previous business day.

Holdings of the largest Silver backed exchange-traded-fund (ETF), New York's iShares Silver Trust SLV, stood at 9692.42 tonnes, remain unchanged from previous business day.

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Daily Commodity Market Energy News

OPEC oil output has fallen in February from the highest monthly level in recent history, a Reuters survey found on Monday, due to a halt in Iraq's northern exports and outages in other producers.

Asian imports of Iranian oil held steady in January from a year earlier, as most of Iran's biggest crude buyers restrained their purchases until right before sanctions were lifted last month as part of an agreement on Tehran's disputed nuclear program.

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Tuesday, 1 March 2016

Daily Commodity Market Energy News

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Oil. It suggests that prices are trading in sideways zone. Momentum indicator RS is heading towards southern side. In today's session, prices are expected to trade on negative note.

Natural gas. It suggest that prices are trading in downtrend channe. However, some pullback can be seen if it crosses immediate resistance of 119.10 levels. On the downside, immediate support is located at 117.10 levels.

Today's Mcx Commodity News on Precious Metals

Gold. It suggests that prices are making higher highs and lows. It is expected to rise again towards 29935 levels. On the flip side, immediate support is located at 29460 levels.

Silver. It suggests that prices hava taken support near trendchannel levels. Momentum indicator RSI is expected to reverse on the upside. Hence, price are expected to trade on upside with potential taget of 36815 levels.

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Base Metals News on Commodity and Mcx Market

Copper. It suggest that prices are making higher highs and lows. It is expected to retest prevoious high of 330 levels. On the downside, immediate support is located at 322 levels.

Nickel suggests that prices are expected to rebound on the upside. It should hold immediate support of 578 levels. On the upside, immediate resistance is located at 599.50 levels.

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