Technical Comment On Gold Crude Oil and Copper

Technical Comment On Crude Oil

Sell off in crude oil continued as the prices slipped again on Thursday. Crude Oil settled at INR 3012 for every barrel, up 1.02%. A high of INR 3040 for each barrel levels was noted during the day. During the day INR 2978 for every barrel was enlisted as low. Correction from here one can take costs towards INR 2800 for every barrel levels. On the higher side INR 3050 and 3075 are still upper top to keep an eye out for. Daily Commodity Tips

Technical Comment On Gold

Refined gold costs hardly upticked by 0.16% amid the session finishing Thursday. Levels of INR 29925 for each 10 grams were seen during the end. The costs are expected upon to stay uneven in today’s session. If losses occur from here on costs can move towards INR 29800 for every 10 grams. The high of Gold was at INR 30195 for every 10 grams and a low of INR 29771 for every 10 grams was tried during the day. The costs conclusion above INR 30000 for each 10 grams is basic.

MCX SUPPORT & RESISTANCE LEVEL

GOLD DEC FUTURE

R2–30571,

R1 -30411,

S1-29712,

S2-29517,

SILVER DEC FUTURE

R2 –44518,

R1-44125,

S1-43160,

S2-42791,

CRUDE OIL NOV FUTURE

R2 –3150,

R1-3100,

S1-2950,

S2-2901,

COPPER NOV FUTURE

R2 –371,

R1-366,

S1-357,

S2-350. Get Free MCX Tips

Technical Comment On Copper

Upheld by positive thinking copper costs run once again on Thursday. The red metal tried most elevated amounts in 2016 with costs rising above INR 370 for every kg levels. Examiners looked in a rush to purchase copper after election results in USA and good faith from China. Unknown region guarantees for the increases in copper with potential to rise towards INR 380 and INR 382 for every kg levels. On the lower side backings will rise at INR 370 for each kg yet that can demonstrate weak in days of heavy sell off as the rally has been pretty smart. Copper picked up by 4.3% in a single session and shut at INR 376 for every kg. The high of copper was at INR 379.60 for every kg while the low was at INR 367.20 for each kg.

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