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Morning Bells for Mcx Traders

mcx

Market Outlook:

Gold prices edged lower, as market sentiment improved amid the view that U.S. presidential candidate Hillary Clinton did better than her rival Donald Trump. Base metals were mixed with Nickel rebounding after the Philippines ordered the suspension of 20 more nickel mines for environmental violations. Lead rose as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for lead, from battery-makers. Crude fell as optimism faded for an output-limiting deal during an oil producer meeting in Algeria.

comdex

Fundamental News:

Gold fell on Tuesday as the dollar and stocks gained ground on the view that U.S. presidential candidate Hillary Clinton got the better of rival Donald Trump in their first debate.

Crude oil futures edged lower on MCX as speculators exited positions in the energy commodity ahead of an informal meeting of top oil producers to discuss measures to stabilize oil prices including a possible production freeze, to help ease a global supply glut.

gold

Gold showed bearish movement and near to its support level of 30970. Now if it will close above the important resistance level of 31100 then 31350 will act as next resistance level. On lower side 30900 will act as vital support level.

silver

Silver showed bearish movement in today’s session. Now if it will maintain above its resistance level of 46000 then 46600 will act as next resistance level. On the other hand 45000 will act as important support level.

crude

Crude oil showed bearish movement. Now if it will maintain above 3030 then 3100 will be next resistance level. On the other hand 2950 will act as important support level.

copper

Copper showed sideways to bearish movement and found the important support of 321. Now if it will break the resistance level of 325 then 328 will act as next resistance level. On the other hand 321 will act as a major support level.

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