Wednesday, 30 January 2013

MCX Market View on 30/01/2013.


MCX Gold



International Gold traded 4 dollars higher from Yesterday MCX closing price.  Gold traded higher due to sluggish dollar as investors expect the U.S. Federal Reserve to keep its loose monetary policy at a meeting today.If Federal Reserve keep its loose monetary policy,it would not affect much on gold prices,If they made any tightening (curbing bonds buying) monetary policy makes gold may expect to fall more.

Yesterday MCX April contract Gold Closing price 30771.MCX Gold facing strong resistance at 30895.

MCX Gold Resistance  30895,31039,31123
MCX Gold Support       30705,30651,30470


  Yesterday MCX Gold Bhav Copy for Data Reference
Commodity
Contract
Open
High
Low
Close
GOLD
5-Feb-13
30349
30381
30215
30234
GOLD
5-Apr-13
30901
30923
30760
30771
GOLDM
5-Feb-13
30369
30400
30230
30247
GOLDM
5-Mar-13
30674
30699
30546
30552


MCX Silver


Yesterday MCX Silver Closing price 57906

Silver also traded nearly 20 cents higher from Yesterday MCX closing price.

MCX Silver Resistance   58170,58430,58660
MCX Silver Support        57690,57555,57285


Yesterday MCX Silver Bhav Copy for Data Reference

Commodity
Contract
Open
High
Low
Close
SILVER
5-Mar-13
57795
58030
57711
57906
SILVER
4-May-13
59352
59430
59100
59286
SILVERM
28-Feb-13
57849
58074
57727
57928
SILVERM
30-Apr-13
59488
59488
59126
59319
SILVERMIC
28-Feb-13
57830
58049
57730
57934
SILVERMIC
30-Apr-13
59315
59443
59125
59319

MCX Crude Oil

Crude Oil traded 20 cents higher from Yesterday MCX Closing level.The American Petroleum Institute (API) yesterday reported that U.S. crude stocks rose 4.2 million barrels last week.According to the API Crude stocks at Cushing fell 15,000 barrels,while gasoline stocks rose 2.4 million barrels and distillate stocks fell 1.8 million barrels, 

As per the Surveys,Crude Oil stock may rise last week.API inventory is always indicator EIA Inventory levels.But Economic recovery news are support Crude Prices.


Yesterday MCX Crude oil Closing price 5228


MCX Crude oil Resistances    5254,5276,5287
MCX Crude oil Supports         5212,5191,5179

Yesterday MCX Crude oil Bhav Copy for Data Reference

Commodity
Contract
Open
High
Low
Close
CRUDEOIL
19-Feb-13
5216
5248
5192
5228
CRUDEOIL
19-Mar-13
5260
5290
5235
5272

MCX Copper

Copper trading two dollar higher than yesterday MCX closing price.Copper climbed to the highest price in more than two weeks after U.S. housing data boosted optimism that demand was recovering in the second largest consumer.Other base metals also raised.LME copper inventories jumped 9 percent to 371,750 tons yesterday, the highest level in more than 13 months, as per data from the exchange.

Yesterday MCX Copper Closing price 437.95

MCX copper gave close above strong support at 438.  Today MCX Copper market may take support from the level 438.

Yesterday MCX Copper Bhav Copy for Data Reference

Commodity
Contract
Open
High
Low
Close
COPPER
28-Feb-13
438.3
438.7
435.15
437.95
COPPERM
28-Feb-13
438.7
438.7
435.2
437.95


                                                                                                                                                                                                                                 
MCX Copper Resistances     440.40,441.50,443.90
MCX Copper Supports          436.00,434.70,432.30

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