2017 +
Daily MCX Newsletter 20th Jan 2017
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Money Maker Research Pvt. Ltd. MARKET WRAP
PRECIOUS METALS: MCX Market uncertainty is still high as US President elect Donald Trump is set to take office today. Trump has promised growth intensive economic policies but uncertainty persists as to how much can be achieved. Weighing on gold price is optimism about US and Chinese economy amid upbeat economic data.
ENERGY: World oil markets are slowly tightening as demand rises while investors wait to see if production cuts agreed by OPEC and other producers will be implemented as promised.
BASE METALS: LME Copper trades higher near$5750/ton after a 0.5% decline yesterday. Supporting price is weakness in US dollar and upbeat US and Chinese economic data. China's GDP data was better than expectations while industrial production was steady.
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Money Maker Research Pvt. Ltd. PIVOTS LEVEL: GOLD(FEB) RESISTANCE2: 29100 RESISTANCE1:28850 SUPPORT1:28450 SUPPORT2:28300 SILVER (MARCH) RESISTANCE2:42500 RESISTANCE1:42000 SUPPORT1:41000 SUPPORT2:40600 CRUDE OIL (FEB) RESISTANCE2:3700 RESISTANCE1:3640 SUPPORT1:3530 SUPPORT2:3480 COPPER (FEB) RESISTANCE2:402 RESISTANCE1:398 SUPPORT1:389 SUPPORT2:385
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Money Maker Research Pvt. Ltd. CHART OF THE DAY GOLD
CALL BUY : GOLD JAN ABOVE 28700 TARGETS 28900/29100 STOP LOSS 28500
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