MCX Market Tips | Commodity Outlook

INTERNATIONAL MARKET UPDATE

• GOLD $ 1318.40
• SILVER $ 19.212,
• COPPER $323.80,
• CRUDE OIL $ 44.41,
• INR 66.995.

Outlook

Gold prices are expected to trade lower today on account of profit booking at higher levels and stronger dollar. Markets keenly await the outcome of the monetary policy meeting of the US Federal Reserve scheduled on 20-21st September.

High crude oil inventories in the US high supplies also remain a cause of concern for oil markets. We expect oil prices to trade lower today.

Copper prices will likely sideways as investors will avoid commodities ahead of crucial FOMC statement. Also, volatility will be low as Chinese markets are closed for mid autumn festival.

Free MCX Market Tips, 5-6 Intraday Calls, Commodity Market trend, Resistance & Support.

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.

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