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 - 12 MAY 2017

Best MCX Tips, Commodity Trading Tips, Copper Tips, crude oil tips, gold trading tips, Mcx Commodity Tips, MCX tips services,

Gold steadies as dollar edges lower.  
Gold prices traded higher on Thursday, buoyed by a weaker dollar, despite the release of bullish economic data. Gold futures traded above eight-week lows amid political turmoil in Washington, after President Trump unexpectedly fired FBI chief James Comex but gains were capped by better than expected producer inflation and labor market data. The bullish initial jobless claims report fuelled expectations that the Federal Reserve would hike its benchmark rate in June amid a tightening labor market.  
Gold is sensitive to moves higher in bond yields, which lift the opportunity cost of holding non-yielding assets such as bullion.  

LME Copper to Move in a Tight Range.  
LME copper will move at USD 5,500-5,550/mt during Asian trading hours on Friday and SHFE 1707 copper will move at RMB 44,900-45,300/mt. In China’s domestic market, spot copper should trade at premiums of RMB 20-60/mt on Friday.  

SHFE Lead to Set with Gains.  
LME lead moved above the 5-day moving average and found support at USD 2,175/mt, but was still weighed by other moving averages. The contract will trade at USD 2,1752,200/mt on Friday. SHFE 1706 lead advanced above the 5, 10 and 20-day moving averages on Thursday’s nigh trading and will fluctuate between RMB 16,150-16,400/mt on Friday. In China’s domestic market, spot lead should drop RMB 25/mt and trade at RMB 16,050-16,150/mt on Friday.  

Crude settles higher after Iraq and Algeria lift hopes for further cuts.  
Crude futures settled higher on Thursday, as investor sentiment remained positive amid a large drawdown in U.S. crude stockpiles while hopes for an extension of the OPEC-led deal received a boost. In November last year, OPEC and other producers, including Russia, agreed to cut output by about 1.8 million barrels per day (bpd). The deal to cut production began in January this year, for a period of six-months until June. OPEC is expected to decide at talks on May 25 whether to extend the current deal to cut production for an additional six-months to the end of the year.  
In its monthly report on Thursday, OPEC announced that group production fell in April, and projected non-OPEC production this year to grow by 950,000 barrels per day (bpd).   

Precious Levels
CS GOLD (JUNE) OVERVIEW: 
TREND : SIDEWAYS 
RESIST 2: 28200 
RESIST 1: 28100
SUP 1: 27900 
SUP 2: 27800 

CS SILVER (JULY) OVERVIEW: 
 TREND : SIDEWAYS 
RESIST 2: 38800 
RESIST 1: 38500 
SUP1: 37850 
SUP2: 37600 

Base Metal Levels
CS COPPER (JUNE) OVERVIEW: 
TREND : SIDEWAYS 
RESIST 2:364 
RESIST 1:362 
SUP1:355 
SUP2:353 

CS NICKEL (MAY) OVERVIEW: 
TREND : BULLISH 
RESIST 2:611 
RESIST 1:605 
SUP1:590 
SUP2:578 

CS ZINC (MAY) OVERVIEW: 
TREND : BEARISH 
RESIST 2:171.50 
RESIST 1:169 
SUP1:164.00 
SUP2:162.50 

CS LEAD (MAY) OVERVIEW: 
TREND : BEARISH 
RESIST 2: 143 
RESIST 1: 142 
SUP1: 138 
SUP2: 136 

CS ALUMINIUM (MAY) OVERVIEW: 
TREND : SIDEWAYS 
RESIST 2: 122.50 
RESIST 1: 121.50 
SUP1: 119 
SUP2: 118 

Energy Levels
CS CRUDE OIL (MAY) OVERVIEW: 
TREND : BULLISH 
RESIST 2:3180 
RESIST 1:3130 
SUP1:3030 
SUP2:3000 

CS NATURAL GAS (MAY) OVERVIEW: 
TREND : BULLISH 
RESIST 2:228.00 
RESIST 1:224.00 
SUP1:212.00 
SUP2:208.00 

 CAPITALSTARS


             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 3 comments:

avatar

Commodities are basic goods that are exchangeable with other commodities of the same type. Traded commodities range from agricultural, livestock and energy to precious metals and industrial metals.

avatar

Rudra Investment SEBI Registered Advisory is one of the best Indian Stock tips companies listed in SEBI. Market Expert gives the best information of Stock and commodity Market. Rudra Investment aim to make people invest their money into Indian stock market with the minimum risk and earn maximum money.