Showing posts with label Labels: commodity updates today. Show all posts
Showing posts with label Labels: commodity updates today. Show all posts

MCX Market Data ~ Commodity Updates Today 23 March 2012

Friday, March 23, 2012
NEWS HIGHLIGHT
  • Gold sluggish after china factory activity falls.
  • Crude oil declines on stockpile release speculation,chinese slowdown.
  • Lme copper falls as china factory activity shrinks.
  • Indian spices trade bearish.

TODAY’S ECONOMIC EVENTS

Date
Time
Currency
Economic Data
Forecast
Previous
FRI
23RD MAR
7.30PM
USD
New Home Sales
326K
321K
11.25PM
USD
Fed Chairman Bernanke Speaks



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MCX Trading Tips ~ Intraday market updates today 21 March 2012

Wednesday, March 21, 2012
Precious metals are trading higher on MCX today. We expect prices to trade range bound. All base metals are trading on a positive note today. We expect prices to trade lower for the day on account of worries over a slower growth in Chinese demand for commodities. Crude oil is trading marginally higher on MCX today. We expect prices to trade higher for the day.
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Weekly MCX & NCDEX Commodity Market Updates

Monday, March 19, 2012
MCX Silver
MCX Silver broke out from the inverted head and shoulders pattern and the down trend line resistance line, however failed to sustain above these resistance levels.

MCX Crude oil
MCX Crude is a triangular pattern of which wave c appears to be completed, hence it is still expected to move sideways in the triangle.

MCX Copper
Copper has been moving up in an upward sloping parallel channel, so it can touch the upper end of the channel i.e. 446; however the risk-reward doesn`t favor the bulls as of now. So, one can sell near 446 for the target 418 which is its 20 DMA.

NCDEX Chana April
It has provided a breakout from the triangular pattern and has reached near its conservative target of 3846. Now, it has also provided a breakout from the range formed just above the triangle. Hence, the overall trend continues to be up and so we maintain our bias up.
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