MCX Crude oil may contract is now in bullish trend. For today’s trading session we are expecting price may go higher side follow the strategy buys on dips. Crude oil closed at Rs.3909 and made day high at 3965.

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Daily MCX News letter
14th May 2015
DAILY MCX News letter

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PRECIOUS METALS:
Gold prices surpassed levels of Rs 27000 per 10 grams and ended the
session at Rs 27528 per 10 grams. The prices tested a high of Rs 27568
per 10 grams and a low of Rs 27051 per 10 grams. For today’s trading
session follow the strategy buy on dips. Keep eye on today’s upcoming
data.
ENERGY
MCX Crude oil may contract is now in bullish trend. For today’s trading
session we are expecting price may go higher side follow the strategy
buys on dips. Crude oil closed at Rs.3909 and made day high at 3965.
WTI crude oil prices stayed supported, extending recent gains ahead of
the weekly EIA data. A key update from International Energy Agency
(IEA) noted that the USS hale oil supplies are slowing. Global crude oil
prices rallied in April and early May despite persistently high global
supply and continued stock builds.
BASE METALS
MCX Copper June contract is traded in a range from last week. The
range of copper is in between 410-420. Nearest resistance level at
423.50, Copper trend is bullish; made low of Rs 414.40 per kg. Copper
ended the day at Rs 417.05 per kg. For today follow the strategy buy on
dips.
MARKET WRAP

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PIVOT POINT
GOLD
SUPPORT1: 27340
SUPPORT2: 27100
RESISTANCE1: 27690
RESISTANCE2: 27920
SILVER
SUPPORT1: 38850
SUPPORT2: 38200
RESISTANCE1: 40100
RESISTANCE2: 40750
CRUDE OIL
SUPPORT1: 3840
SUPPORT2:3795
RESISTANCE1: 3955
RESISTANCE2: 4005
COPPER
SUPPORT1: 412
SUPPORT2: 409
RESISTANCE1: 420
RESISTANCE2: 424

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An ISO 9001-2008 Company
CALL: BUY GOLD JUN ABOVE 27520 TARGETS 27620, 27720 STOPLOSS
27320.
PICK OF THE DAY

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An ISO 9001-2008 Company
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