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Thursday, 20 October 2016

MCX Commodity Market Trading Tips and Strategy

MCX Gold Dec 2016 TRADING IDEA
Gold trading range for the day is 29646-30122. Gold rose as the dollar weakened amid uncertainty around the timing of a U.S. interest rate increase. Gold prices in India swung to a premium for the first time in nine months as jewellers and dealers ramped up purchases ahead of major festivals. Commodity TipsBUY GOLD DEC @ 29800 SL 29600 TGT 30020-30150.
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MCX Silver Dec 2016 TRADING IDEA
Silver trading range for the day is 41813-42667. Silver prices remained supported as a batch of mixed data on the U.S. housing market kept up pressure on the dollar. The Commerce Department said U.S. housing starts unexpectedly slumped 9.0% to hit 1.047 million units last month. Holdings at ishares silver trust gained by 0.24% i.e. 26.57 tonnes to 11294.92 tonnes from 11268.35 tonnes. BUY SILVER DEC @ 42000 SL 41700 TGT 42350-42600.

MCX Crudeoil Nov 2016 TRADING IDEA

Crudeoil trading range for the day is 3343-3555. Crude oil gained after the U.S. EIA reported an unexpectedly large U.S. oil inventory drawdown last week. Crude oil inventories fell by 5.2 million barrels last week, the EIA said. Commodity tips, Free MCX TipsBUY CRUDE OIL NOV @ 3430 SL 3380 TGT 3470-3520.

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