Daily MCX Newsletter: 1 1 1 11 1 1 1 - OCT OCT OCT Oct. - . - 2013 2013 2013 2013
Daily MCX Newsletter: 1 1 1 11 1 1 1 - OCT OCT OCT Oct. - . - 2013 2013 2013 2013
Daily MCX Newsletter: 1 1 1 11 1 1 1 - OCT OCT OCT Oct. - . - 2013 2013 2013 2013
11-OCT. -2013
THE EQUICOM PROFIT UPDATE: PLEASE CLOSE YOUR POSITION IN COPPER, OUR SL TRIGGERED www.TheEquicom.com 09200009266
www.TheEquicom.com +919200009266
BULLION
The second biggest gold imported China's gold imports to keep providing a floor for the gold market, said HSBC in a research note. According to the data from the Hong Kong Census and Statistics Department this week shows Chinese imports from Hong Kong increased to 131 metric tons in August from 54 in the same month a year ago and also up from 129 this July. Bullions premium on the Shanghai Gold Exchange, an indicator of Chinas gold appetite, moved higher to $10/oz from the upper single digits seen prior to being closed for holiday, HSBC continued. We expect gold imports in China to remain at historically high levels and continue to provide a floor of support for bullion, HSBC concluded
BASE METAL
India lead futures edged up on Tuesday on short covering amid depreciation of Indian Rupee (INR) against US Dollar (USD). The commodity is expected to trade with a positive bias during intra-day trade. Chinese service sector recorded a decline in September. HSBC China Services Purchasing Managers' Index fell to 52.4 from 52.8 recorded in August, according to the data released on Tuesday.
ENERGY
US crude oil futures rose from a four day low amid concerns over partial shutdown of the US government and higher than expected crude oil stock-piles. WTI crude oil for November delivery on NYMEX was seen trading with the gain of 80 cents at $103.83 per barrel as of 16.28 IST on Tuesday. Technically, the trend in crude oil futures for October delivery on India's Multi Commodity Exchange (MCX) looks sideways to bullish for the day and traders are advised to take buy position. Intra-day support for the commodity is seen at 6350 while resistance is seen at 6470. If prices break the level of 6470, then further upside is expected till 6530.
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BULLION
GOLD (5 DEC.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : -BEARISH : - 29060, 29400 : - 28500, 28200 : - SELL ON HIGHS
SILVER (5 DEC.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - BEARISH : - 48650, 49000 : - 47500, 47000 : - SELL ON HIGHS
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ENERGY
CRUDEOIL (21 OCT.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - BEARISH : - 6350, 6400 : - 6240, 6190 : - SELL ON HIGHS
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 233.70, 238.00 : - 228.70, 225.00 : - SELL ON HIGHS
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BASE METAL
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - BEARISH : -448.00, 454.00 : - 435.00, 435.00 : - SELL ON HIGHS
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 127.30, 128.20 : - 125.70, 125.00 : - SELL ON HIGHS
www.TheEquicom.com +919200009266
www.TheEquicom.com +919200009266
www.TheEquicom.com +919200009266
www.TheEquicom.com +919200009266
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