MCX Commodity market News – 22 OCT 2015

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www.capitalstars.com | CapitalStars Research 22/10/2015 DAILY MCX NEWSLETTER www.capitalstars.com | CapitalStars Research

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MCX CRUDE OIL Nov., Wednesday as seen in the daily chart opened at 3013 levels and day high of 3023 levels. During this period price corrected & made day low of 2954 levels finally closed at 2975 levels. Now, there are chances of further downward movement technically & fundamentally.Get More Details & Get 2 days free trail visit http://www.capitalstars.com/free-trial & Call at 0731-6790000, 6669900 .

Transcript of MCX Commodity market News – 22 OCT 2015

Page 1: MCX Commodity market News – 22 OCT 2015

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22/10/2015

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DAILY MCX NEWSLETTER

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Page 2: MCX Commodity market News – 22 OCT 2015

BULLION:

Gold was trading near its lowest in over a week on Thursday, hurt by a stronger

dollar and an overnight sell-off following the metal's failure to breach a key

technical level. Bullion briefly burst through its 200-day moving average around

$1,175 per ounce on Wednesday for a sixth straight day, before easing back

more than $10 to a session low. Its failure to hold above long-term resistance

undermined sentiment and increased selling pressure, traders said.

BASE METAL: LME copper opened at USD 5,193/mt overnight

and dropped to USD 5,136/mt, to end at USD

5,192.5/mt, down 8.5%. Major reports were

absent yesterday evening but base metals were

depressed by Chinese stock declines, firmer dollar

and a slip in crude oil prices. However, exit of

shorts helped to support copper prices. LME

copper should fluctuate between USD 5,160-

5,220/mt during Asian trading hours. SHFE 1512

copper will move between RMB 38,900-

39,400/mt on October 22. Spot copper will trade

between discounts of RMB 40/mt and premiums

of RMB 40/mt over SHFE 1511 copper.

ENERGY:

Oil prices edged up in Asian trade on Thursday, gaining support from a weaker dollar to hold above a three-week low hit in the

previous session after a bigger-than-expected build in U.S. crude stocks added to concerns of a global oil glut. Oil prices came under

renewed pressure from worries about a global glut this week after U.S. crude inventories rose more than twice what analysts had

expected. Oil experts from the Organization of the Petroleum Exporting Countries and non-member countries made no agreement

this week to take steps to boost prices, officials said after talks in Vienna on Wednesday.

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Page 3: MCX Commodity market News – 22 OCT 2015

CS GOLD (DECEMBER) OVERVIEW:

TREND : BEARISH RESIST 2: 27370 RESIST 1: 27200

SUP 1: 26970 SUP 2: 26590

STRATEGY: SELL ON RISE

CS SILVER (DECEMBER) OVERVIEW:

TREND : BEARISH RESIST 2: 37600 RESIST 1: 37180

SUP1: 36400 SUP2: 35840

STRATEGY : SELL ON RISE

CS CRUDE OIL (NOVEMBER) OVERVIEW:

TREND : BEARISH

RESIST 2:3070 RESIST 1:3030

SUP1:2940 SUP2:2900

STRATEGY: SELL ON RISE

CS NATURAL GAS (OCTOBER) OVERVIEW:

TREND :BEARISH RESIST 2:164 RESIST 1:162

SUP1: 153 SUP2:148

STRATEGY: SELL ON RISE

BULLION & ENERGY

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CS COPPER (NOVEMBER) OVERVIEW:

TREND :BEARISH

RESIST 2:346 RESIST 1:344

SUP1:338 SUP2:336

STRATEGY: SELL ON RISE

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BASE METAL

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Page 5: MCX Commodity market News – 22 OCT 2015

MCX CRUDE OIL Nov., Wednesday as seen in the daily chart opened at 3013 levels and day

high of 3023 levels. During this period price corrected & made day low of 2954 levels finally

closed at 2975 levels. Now, there are chances of further downward movement technically &

fundamentally.

Oil prices came under renewed pressure from worries about a global glut this week after U.S. crude inventories rose more

than twice what analysts had expected.

DAILY RECOMMENDATION: SELL MCX CRUDE OIL NOV., BELOW 2980 LEVELS FOR

TARGET OF T1 2880/T2 2830 WITH SL OF 3100 LEVELS.

COMMODITY PICK OF THE DAY: CRUDE OIL

Page 6: MCX Commodity market News – 22 OCT 2015

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