MCX Crude oil futures closed at Rs 3861 per barrel, testing a high at Rs 3891 per barrel.

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Daily MCX News letter
22th May 2015
DAILY MCX News letter

2. Money Maker Research Pvt. Ltd.
www.moneymakerfinancial.com
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PRECIOUS METALS:
MCX Gold prices tested a high of Rs 27318 per 10 grams and a low of Rs
27089 per 10 grams, Closed at Rs.27108. Gold steadied on Thursday as
the dollar fell following minutes from the Federal Reserve's policy
meeting showing the U.S. central bank was unlikely to raise interest
rates in June. Gold felt down side from its resistance level, for today’s
trading session follow the strategy sell on high, Keep eye on today’s
upcoming data.
ENERGY
MCX Crude oil futures closed at Rs 3861 per barrel, testing a high at Rs
3891 per barrel. Crude oil inventories in the US continued their drop,
the US Energy Information Administration said Wednesday. US
commercial crude inventories decreased by 2.7 million barrels last
week, maintaining a total US commercial crude inventory of 482.2
million barrels .Crude oil now in support level 3715.For today’s trading
session follows the strategy buy on dips.
BASE METALS
MCX Copper June contract traded in red yesterday. It breaks its
consolidation range down side and made low of Rs 401.25 per kg.
Copper ended the day at Rs 402.85 per kg. For today follow the strategy
sell on high.
MARKET WRAP

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PIVOT POINT
GOLD
SUPPORT1: 26840
SUPPORT2: 26600
RESISTANCE1: 27280
RESISTANCE2: 27510
SILVER
SUPPORT1: 38450
SUPPORT2: 37800
RESISTANCE1: 39800
RESISTANCE2: 40450
CRUDE OIL
SUPPORT1: 3795
SUPPORT2:3740
RESISTANCE1: 3905
RESISTANCE2: 3955
COPPER
SUPPORT1: 397
SUPPORT2: 394
RESISTANCE1: 406
RESISTANCE2: 410

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An ISO 9001-2008 Company
SELL GOLD JUN BELOW 27085 TARGETS 26985, 26885 STOPLOSS
27285.
PICK OF THE DAY

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