Moneymaker Research Commodity Tips

2016 +

Daily MCX Newsletter 26th APRIL 2016

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Money Maker Research Pvt. Ltd. MARKET WRAP PRECIOUS METALS: MCX Gold futures tested lows near Rs 29050 per 10 grams yesterday as a drop from five week high continued. However, good buying emerged at this level and the counter ended in green, adding more than Rs 200 on the day. A sideways trend seems to be at work after the contract tested lows near Rs 28900 mark on Friday - approaching its 50 day EMA. Today, further gains are likely if the counter breaks above yesterday's highs of Rs 29300 while a break under Rs 29200 can cause some moderation.

ENERGY: MCX Crude oil futures dropped heavily in intraday moves yesterday on profit selling pressure. The counter recorded strong gains in last week after a break above EMA 50 on day charts. However, repeated failure to hold around Rs 2965/2970 per barrel mark eventually took a toll on the contract and heavy losses emerged in the commodity as Rs 2900 levels were broken. The counter ended around Rs 2880 per barrel mark and is expected to face selling pressure on rallies today.

BASE METALS: MCX Copper futures slipped from a one month high yesterday after recording handsome gains earlier. The counter soared above Rs 338 per kg on Friday as a break above 100 day Exponential Moving Average (EMA) managed to hold. However, the Monday blues saw an outright correction after prices eased from one month highs and the counter ended around Rs 332 per kg levels. Further selling is expected in the counter with a break under Rs 330 triggering heavy intraday short selling.

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Money Maker Research Pvt. Ltd. PIVOTS LEVEL: GOLD(JUNE) RESISTANCE2:29700 RESISTANCE1: 29500 SUPPORT1:28900 SUPPORT2: 28600 SILVER (MAY) RESISTANCE2:40900 RESISTANCE1: 40500 SUPPORT1:39600 SUPPORT2: 39100 CRUDE OIL (MAY) RESISTANCE2:3010 RESISTANCE1: 2950 SUPPORT1:2800 SUPPORT2: 2720 COPPER (APRIL) RESISTANCE2:338 RESISTANCE1: 335 SUPPORT1:326 SUPPORT2: 322

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Money Maker Research Pvt. Ltd. CHART OF THE DAY LEAD:

CALL: SELL LEAD APRIL AROUND 116.50 TARGETS 115.00 STOP LOSS 117.70. www.moneymakerfinancial.com An ISO 9001-2008 Company

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