We provide Best Trading Tips, Commodity Trading Tips, Commodity Tips for Gold, Silver and Commodity calls Get daily markets point of views and Trade Calls Sign Up Today For Free Trial. Hurry Up !!.

MCX COMMODITY MARKET NEWS & LEVELS - 06 DEC 2016


HIGH LIGHTS:-

  • Gold prices dip in Asia after early bargain hunting, Fed views eyed. 
  • NYMEX crude falls in Asia as U.S. industry supply data ahead. 
  • SHFE Copper to Strengthen.
    PRECIOUS METALS:- 

    Gold eased on Tuesday in Asia after an early round of bargain hunting as investors look beyond the widely expected Fed rate hike this month for any new language on the pace of increases going forward. On the Comex division of the New York Mercantile Exchange gold fell 0.07% to $1,175.65 a troy ounce. Elsewhere in metals trading, silver for March delivery on the Comex rose 0.08% to $16.913 a troy ounce. 
    Gold initially gained after Italian voters rejected a referendum on constitutional changes backed by the government, prompting Prime Minister Matteo Renzi to step down and sending the euro to 20month lows. 


    PRECIOUS LEVEL

    CS GOLD (FEB) OVERVIEW:
    TREND :  BEARISH 
    RESIST 2: 28400 
    RESIST 1: 28200 
    SUP 1: 27800 
    SUP 2: 27600 

    CS SILVER (MARCH) OVERVIEW:
    TREND : SIDEWAYS 
    RESIST 2: 41800 
    RESIST 1: 41550 
    SUP1: 40800 
    SUP2: 40300

    BASE METALS:-
    LME copper is predicted to range between USD 5,880-5,980/mt during Asian trading hours on Tuesday and SHFE 1702 copper will move at RMB 47,900-48,800/mt. 
    Final reading of Eurozone’s GDP in Q3 will be released on Tuesday. Eyes should be on US’s economic data on Tuesday, including October’s balance of trade, October’s durable goods, factory order and December’s IBD consumer confidence index. Most US’s economic data released on Monday’s night were positive, but US dollar index remains weak, supporting base metals. Base metals are expected to strengthen on Tuesday. Eurozone’s economy is stable, although Europe is in troubled times. Eurozone’s GDP growth in Q3 will not rally to 1.7% seen in Q1, hurt by slowing down Germany economy growth in Q3. 

    BASE METAL LEVELS
    CS COPPER (FEB) OVERVIEW:
    TREND : BULLISH 
    RESIST 2:415 
    RESIST 1:410 
    SUP1:400 
    SUP2:397 
    CS NICKEL (DEC) OVERVIEW:
    TREND :  BULLISH 
    RESIST 2: 815 
    RESIST 1: 800 
    SUP1: 780 
    SUP2: 770
    CS ZINC (DEC)OVERVIEW:
    TREND :  SIDEWAYS 
    RESIST 2:191.00 
    RESIST 1:189.00 
    SUP1:184.00 
    SUP2:181.00  
    CS LEAD (DEC) OVERVIEW: 
    TREND :   SIDEWAYS 
    RESIST 2: 160.00 
    RESIST 1: 159.00 
    SUP1: 154.00 
    SUP2: 153.00 

    CS ALUMINIUM (DEC) OVERVIEW: 
    TREND :   SIDEWAYS 
    RESIST 2: 120.00 
    RESIST 1: 119.00 
    SUP1: 116.00 
    SUP2: 115.00

    ENERGIES:- 
    Crude oil prices fell in Asia on Tuesday with U.S. industry inventory estimates ahead expected to set the tone. 
    The American Petroleum Institute will release its estimates of crude oil and refined product stocks last week later on Tuesday. On Wednesday, more closely-watched official figures from the U.S. Department of Energy are due. 
    Overnight, oil prices reached a new, one-year high by mid-day on Monday, as last week’s rally from the Organization of Petroleum Exporting Countries (OPEC) agreement to cut production continued. 

    ENERGY LEVELS
    CS CRUDE OIL (DEC) OVERVIEW:                           
    TREND : SIDEWAYS 
    RESIST 2:3560 
    RESIST 1:3530 
    SUP1:3430 
    SUP2:3385 
    CS NATURAL GAS (DEC) OVERVIEW: 
    TREND : BULLISH 
    RESIST 2:250.00 
    RESIST 1:248.00 
    SUP1:240.00 
    SUP2:236.00 


                 CLICK HERE FOR DETAILS - http://blog.capitalstars.com/

    Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

    CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
    RELATED POSTS

    Click here for comments 0 comments: