2016 MCX DAILY REPORT
9TH JUN 2016
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PINNACLE FINANCIAL SERVICES DAILY EQUITY REPORT 10/03/2015 ECONOMIC DATA
TIME
CURRENCY
PARTICULAR
FORECAST PREVIOUS
6:00PM
USD
Unemployment Claims
269K
267K
8:00PM
USD
Natural Gas Storage
80B
82B
METALS & ENERGY UPDATE Precious metals soared more than 1 percent to a three-week high on Wednesday, bolstered by a weaker dollar on declining expectations that the U.S. Federal Reserve will raise interest rates any time soon.
Copper price was hammered down on Tuesday as a rise in warehouse stocks convinced traders that end-demand in China has not materially improved despite Beijing's economic stimulus while Aluminium, Nickel and Zinc climbed to the highest level in a month on Wednesday, bolstered by buying from industrial consumers.
Crude surged to fresh 11-month highs on Wednesday, as a bullish U.S. inventory report eased some concerns related to the massive supply glut that persists throughout energy markets worldwide while Niger Delta Avengers militant group on Wednesday rejected an offer of talks with the government also supported the price.
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PINNACLE FINANCIAL SERVICES DAILY EQUITY REPORT MCX TECHNICAL LEVELS 10/03/2015 GOLD (AUGUST) TREND RESISTANCE 2 RESISTANCE 1 SUPPORT 1 SUPPORT 2 STRATEGY
BULLISH 30250 29950 29400 29200 BUY ON LOWER LEVELS
COPPER (JUNE) TREND RESISTANCE 2 RESISTANCE 1 SUPPORT 1 SUPPORT 2 STRATEGY
TREND RESISTANCE 2 RESISTANCE 1 SUPPORT 1 SUPPORT 2 STRATEGY
BULLISH 41400 40900 39900 39500 BUY ON LOWER LEVELS
CRUDE (JUNE)
CONSOLIDATE 311 308 300 296 SELL ON HIGHER LEVELS
NATURAL GAS (JUNE) TREND RESISTANCE 2
CONSOLIDATE 170
RESISTANCE 1 SUPPORT 1 SUPPORT 2 STRATEGY
167 162 160 BUY ON LOWER LEVELS
ZINC (JUNE) TREND RESISTANCE 2 RESISTANCE 1 SUPPORT 1 SUPPORT 2 STRATEGY
SILVER (JULY)
TREND RESISTANCE 2 RESISTANCE 1 SUPPORT 1 SUPPORT 2 STRATEGY
BULLISH 3550 3470 3360 3310 BUY ON LOWER LEVELS
LEAD (JUNE) TREND RESISTANCE 2 RESISTANCE 1 SUPPORT 1 SUPPORT 2 STRATEGY
CONSOLIDATE 119.10 117.90 114.90 113.80 BUY ON LOWER LEVELS
NICKEL (JUNE) BULLISH 141.60 140.10 136.30 135.10 BUY ON LOWER LEVELS
TREND RESISTANCE 2 RESISTANCE 1 SUPPORT 1 SUPPORT 2 STRATEGY
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BULLISH 628 615 588 577 BUY ON LOWER LEVELS
PINNACLE FINANCIAL SERVICES DAILY EQUITY REPORT 10/03/2015 CHART OF THE DAY
SILVER
BUY SILVER JUL ABOVE 40750 TARGETS 41250/41750 STOPLOSS 40400. Technically Silver is bullish on charts. While ADX, CCI, Money flow index and MACD also indicates some buying opportunity in it. So, traders should go for buy on lower level strategy.
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