December 9, 2016

                                         Best MCX Tips, Commodity Trading Tips, crude oil tips, gold tips, gold trading tips, Indian Share Market Tips, MCX tips services, silver tips,                        

HIGH LIGHTS:-

NYMEX, Brent higher in Asia after China trade surplus widens.

Gold holds weaker after China trade data, copper gains as surplus widens.

LME Copper to Remain under Downward Pressure.

PRECIOUS METALS:-

Gold prices held lower in Asia on Monday, but copper gained as investors digested trade data from China that showed a wider than expected surplus. But downbeat imports.

In China, the trade balance for July is expected at a surplus of $47.6 billion, with exports down 3.0% and imports down 7.0%, both year-on-year.China is the world’s top copper importer and second largest gold buyer behind India

China said trade balance for July came in at a surplus of $52.31 billion, better than $47.6 billion expected, with exports down 4.4%, below the 3.0% fall seen and imports showing a 12.5% decline, far worse than the down 7.0% seen, both year-on-year.

PRECIOUS LEVEL

CS GOLD (OCT) OVERVIEW:

TREND : BEARISH

RESIST 2: 31700

RESIST 1: 31600

SUP 1: 30600

SUP 2: 30370

CS SILVER (SEPTEMBER) OVERVIEW:

TREND : BEARISH

RESIST 2: 48100

RESIST 1: 47700

SUP1: 45720

SUP2: 45000

BASE METALS:-

LME copper will suffer pressure from firmer dollar and range USD 4,775-4,815/mt during Asian trading hours Monday.Fierce struggles will be expected between shorts and longs on base metal market on Monday with focus on economic figures from China.

Two manufacturing PMIs from China showed mixed trend in July, triggering caution in market. Chinese yuan started appreciating in late July, which however, limitedly boosted export. The production and new order sub-indexes diverged in July and the export date due for release this week will prove which PMI is more in line with economic situation.

BASE METAL LEVELS

CS COPPER (AUGUST) OVERVIEW:

TREND : BEARISH

RESIST 2:327

RESIST 1:325

SUP1:318

SUP2:316

CS NICKEL (AUG) OVERVIEW:

TREND : BULLISH

RESIST 2:727

RESIST 1:720

SUP1:708

SUP2:700

CS ZINC (AUG) OVERVIEW:

TREND : SIDEWAYS

RESIST 2:153.30

RESIST 1:152.00

SUP1:150.50

SUP2:149.50

CS LEAD (AUG) OVERVIEW: 

TREND : BEARISH

RESIST 2:122.00

RESIST 1:121.00

SUP1:119.00

SUP2:118.00

CS ALUMINIUM (AUG) OVERVIEW: 

TREND : SIDEWAYS

RESIST 2:112.00

RESIST 1:111.00

SUP1:110.00

SUP2:108.50

ENERGIES:-

Crude oil prices held gains in Asia as China’s trade balance surplus widened, though imports showed a sharp overall decline for the world’s second largest importer.On the New York Mercantile Exchange, crude oil for delivery in September rose 0.29% to $41.92 a barrel. China said trade balance for July came in at a surplus of $52.31 billion, better than $47.6 billion expected, with exports down 4.4%, below the 3.0% fall seen and imports showing a 12.5% decline, far worse than the down 7.0% seen, both year-on-year.

Earlier in Japan, the adjusted current account came in at ¥1.65 trillion, well below the surplus of ¥3.20 trillion for July expected. Bank lending rose 2.1%, beating the expected 2.0% gain. In China, FX reserves came in at CNY3.2 trillion, meeting expectations.

ENERGY LEVELS

CS CRUDE OIL (AUGUST) OVERVIEW:   

TREND :BULLISH

RESIST 2:2880

RESIST 1:2850

SUP1:2750

SUP2:2720

CS NATURAL GAS (AUGUST) OVERVIEW: 

TREND :BEARISH

RESIST 2:189.00

RESIST 1:186.00

SUP1:181.00

SUP2:178.00

suhanisahani

Comments are closed.

NOTE : You are advised to take your position with your sense and judgment.The views and investment tips expressed by users on MCXStar.com are their own, and not that of the website or its management. MCXStar.com advises users to check with certified experts before taking any investment decisions. If any other company also giving same script and recommandation then we are not responsible for that. We have not any position in our given scripts. Visiting our web one should by agree to our terms and condition and disclaimer also. All credit goes to original authors of post on this website. Website owner is not responsible for any loss due to your own decision or judgement. Thanks for Visiting our Website.