MCX Trading Tips, Profitabel Call’s and News

a1

aa1

Market Outlook

Gold prices are flattish today but continue to have a weaker bias as US economic data continues to keep growth optimism alive. We expect precious metals prices to trade range bound for the day. Base metals are mixed on the LME but lead and zinc continue to see a weaker trend and the correction could extend further today. Copper might also suffer from limited volume in the market. we expect lead and zinc prices to trade lower while range bound in others. Crude oil prices ended higher yesterday amid choppy trading and prices may remain stuck in a range today as well.

a2

Fundamental News

Gold edged higher on Friday in thin pre-Christmas trade as the dollar retreated from this week’s 14-year high, tempting some buyers to take advantage of a near 10-month low in prices after six straight weeks of decline.

U.S. oil moved sharply lower on Friday, as a strong U.S. dollar continued to weigh, as well as a rise in Libyan production.

a3 a4

Gold showed sideways movement and found the important support level of 26900. Now if it will sustain below the important support level of 26850 then 26600 will act as next support level. On the other hand 27300 will act as a major resistance level.

a5

Silver showed bearish movement and found the important support level of 38650. Now if it will sustain below the important support level of 38600 then 38000 will act as next support level. Ona the other hand 39500 will act as a major resistance level.

a6

Crude showed sideways to bullish movement and found the important resistance level of 3610. Now if it will close above the important resistance level of 3630 then 3700 will act as next resistance level. On the other hand 3550 will act as a major support level.

a7

Copper showed bearish movement and found the important support level of 372.75. 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 Comment

Your email address will not be published.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