MCX News Letter for 5th January 2017

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Daily MCX Newsletter
05th Jan 2017
2016
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2. Money Maker Research Pvt. Ltd.
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PRECIOUS METALS:
Precious metal prices are high due to weak dollar strength. The Fed minutes highlighted concerns about the
impact of a strong currency which led to a selloff in the dollar and supported gold.
ENERGY:
Crude oil prices are likely to extend gains as API data showed a big drop in US inventories last week. Prices fell
earlier this week after reports suggested that Iraq’s autonomous Kurdish region was exporting more than its
allocated share of oil.
BASE METALS:
Copper prices are rebounded on Thursday morning as the dollar retreated from 14-year highs following the
overnight release of minutes from the US Federal Open Market Committee (FOMC)’s policy meeting in
December.
MARKET WRAP

3. Money Maker Research Pvt. Ltd.
www.moneymakerfinancial.com
An ISO 9001-2008 Company
PIVOTS LEVEL:
GOLD(FEB)
RESISTANCE2:28200
RESISTANCE1:28000
SUPPORT1:27600
SUPPORT2:27450
SILVER (MARCH)
RESISTANCE2:41300
RESISTANCE1:40800
SUPPORT1:40000
SUPPORT2:39700
CRUDE OIL (JAN)
RESISTANCE2:3720
RESISTANCE1:3670
SUPPORT1:3550
SUPPORT2:3480
COPPER (FEB)
RESISTANCE2:396
RESISTANCE1:391
SUPPORT1:380
SUPPORT2:376

4. Money Maker Research Pvt. Ltd.
www.moneymakerfinancial.com
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CRUDE OIL
CALL BUY: CRUDE OIL JAN ABOVE 3620 TARGETS 3670/ 3720 STOP LOSS 3550
CHART OF THE DAY

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www.moneymakerfinancial.com
An ISO 9001-2008 Company
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