MCX Commodity Market Outlook

INTERNATIONAL MARKET UPDATE

GOLD $ 1260.50.

SILVER $ 17.627,

COPPER $313.30,

CRUDE OIL $ 50.23,

INR 66.771.

MCX Gold Dec 2016 TRADING IDEA

Commodity Tips : Gold trading range for the day is 29546-29814. Gold prices ended with small gains lifted by steady flows into exchange-traded funds and a dip in the dollar after touching seven-month highs. Positive economic data from the U.S. usually puts pressure on bullion prices as investors raise bets on an interest rate hike. Demand for gold from top consumer China will remain strong at around 900-1,000 tonnes next year. SELL GOLD DEC @ 29850 SL 30000 TGT 29700-29550.MCX

MCX Crudeoil Oct 2016 TRADING IDEA

Crudeoil trading range for the day is 3263-3409. Crude oil prices dropped dragged lower by the increase in active oil rigs in the U.S. and a stronger greenback. Iran's deputy oil minister said that OPEC's primary agreement to limit oil output at 32.5 mbpd was a small step but in right direction. A report by oil services provider Baker Hughes showed U.S. drillers added four rigs in the week to Oct. 14. SELL CRUDE OIL OCT @ 3370 SL 3410 TGT 3330-3260.MCX

Free MCX Tips - SUPPORT & RESISTANCE LEVEL

GOLD DEC FUTURE

R2–30411,

R1 -29914,

S1-29477,

S2-29212,

SILVER DEC FUTURE

R2 –42814,

R1- 42446,

S1-41519,

S2-41080,

CRUDE OIL OCT FUTURE

R2 –3410,

R1-3360,

S1-3260,

S2-3200,

COPPER OCT FUTURE

R2 –324,

R1-320,

S1-308,

S2-301.