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Tuesday 20 September 2016

Daily Commodity Trading Market Report

Commodity Market Outlook
Gold prices are expected to trade lower today although markets keenly await the outcome of the monetary policy meeting of the US Federal Reserve scheduled on 20-21st September. Uncertainty will keep investors on toes hence; volatility is expected in the coming sessions.  

Comments from Venezuela about stabilising oil markets and clashes in Libya are push factors for oil prices to rise higher on intraday basis.

Copper prices will likely be under pressure today as investors will avoid commodities ahead of crucial FOMC statement due Wednesday.

News & Analysis
Investors keenly await FOMC statement due Wednesday

Tehran lends its support to stabilize the global oil market

LME Copper stocks rose 0.2 percent on Friday.

MCX Market Tips by Tradeindia Research which is best advisory company of indore here we presents support and resistance level of mcx commodity.


MCX SUPPORT & RESISTANCE LEVEL

GOLD JUNE FUTURE
R2–31212,
R1 -31010,
S1-30650,
S2-30450,

SILVER JULY FUTURE
R2 –46110,
R1- 45782,
S1-45101,
S2-44790,

CRUDE OIL JUNE FUTURE
R2 –3000,
R1-3054.
S1-2800,
S2-2760,

COPPER JUNE FUTURE
R2 –334,
R1-328,
S1-320,
S2-313.

INTERNATIONAL MARKET UPDATE
GOLD $ 1318.95
SILVER $ 19.307,
COPPER $322.90,
CRUDE OIL $ 43.64,
INR 67.043.

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