Life @ TradeIndia Research

Wednesday 5 October 2016

MCX Tips | Commodity Market News

MCX SUPPORT & RESISTANCE LEVEL
GOLD JUNE FUTURE
R2–30922,
R1 -30680,
S1-29757,
S2-29358,

SILVER JULY FUTURE
R2 –44122,
R1- 45146,
S1-42149,
S2-41790,

CRUDE OIL JUNE FUTURE
R2 –3350,
R1-3301,
S1-3200,
S2-3150,

COPPER JUNE FUTURE
R2 –331,
R1-327,
S1-318,
S2-313.

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Precious metals are trading flat on COMEX today. We expect prices to trade range bound for the day, as the dollar eased back and equities fell.

Industrial metals are trading lower on International bourses today. We expect prices to trade higher for the day, underpinned by a softer dollar and expectations that China's metal demand will slowly and steadily improve into the fourth quarter.

Crude oil is trading higher on NYMEX today. We expect prices to trade range bound for the day, after a report that U.S. fuel inventories may have fallen for a fifth straight week, but contracts remained near the $50 marker where many traders currently see fair value for crude.

INTERNATIONAL MARKET UPDATE
  • GOLD $ 1276.35.
  • SILVER $ 18.000,
  • COPPER $322.20,
  • CRUDE OIL $ 49.17,
  • INR 66.555.

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