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MCX MARKET STRATEGY FOR TODAY

We are Provide Research Calls On All Segments Of Share Market Like  MCX Market Trends, base metal, equity market, future & options, as well as forex market.

GOLD NEWS

gold

Gold prices gained in Asia on Wednesday as a hard deadline was set for Greece to present a credible reform package to enable it to receive loans and open its banking system. Greece has a five-day deadline to submit a detailed package of reforms to international creditors in return for a bailout or risk the “bankruptcy” of both the country and its financial system, European Council President Donald Tusk and Commission President Jean-Claude Juncker warned Tuesday. In a high-stakes atmosphere that followed a meeting of euro zone leaders in Brussels after Greece’s Sunday austerity referendum, Tusk and Juncker did not mince words.

BASE METAL

copper

Base metal market is now predominated by strong bearish sentiment, China again comes under the global spotlight, but not in a good way this time. The tumble in China’s stock market has triggered worries over economic growth in world’s second largest economy. The panic was also spread to the commodity market. 13 lead-related enterprises were closed down recently due to environmental protection inspection in Luxi County. LME copper once plunged to $5,261 per tonne Tuesday, its lowest in six years. The September-delivery copper lost another 1,360 yuan Tuesday night. Most Chinese futures analysts remained bearish towards the red metal, SMM interview.

ENERGY NEWSenergy

Oil futures steadied early on Wednesday on an expected drop in U.S. inventory, but worries over the Greek debt crisis and China’s stock market turmoil dragged on prices. A Reuters poll flagged a 700,000-barrel decline in U.S. oil inventory, while industry group American Petroleum Institute  estimated a drop of nearly 960,000 barrels. Government data will be published on Wednesday. Euro zone members have given Greece until the end of the week to come up with a proposal for sweeping reforms in return for loans that will keep the country from crashing out of Europe’s currency bloc and into economic run.

BULLION & ENERGY

CS GOLD (AUGUST) OVERVIEW:gold

TREND MIXED TO BEARISH
RESIST 2: 26465
RESIST 1: 26340
SUP 1: 25940
SUP 2: 25880
STRATEGY: SELL ON RISE

CS SILVER (JULY) OVERVIEW:

silver-1TREND MIXED TO BEARISH
RESIST 2:36320
RESIST 1:36130
SUP1:34520
SUP2:34010
STRATEGY : SELL ON RISE

CS CRUDE OIL (JUNE) OVERVIEW:

crude oil

TREND MIXED TO BEARISH
RESIST 2:3440
RESIST 1:3390
SUP1:3260
SUP2:3225
STRATEGY: SELL ON RISE

CS NATURAL GAS (JUNE) OVERVIEW:

Natural-Gas

TREND MIXED TO BEARISH
RESIST 2:179
RESIST 1:177
SUP1: 171
SUP2:168
STRATEGY: SELL ON RISE

BASE METAL

base metals

CS COPPER (JUNE ) OVERVIEW:

TREND MIXED TO BEARISH
RESIST 2:361
RESIST 1:359
SUP1:345
SUP2:342
STRATEGY: SELL ON RISE

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