Market Update

Market Watch

Tuesday 27 August 2013

Free Mcx Market or Tips

  • Gold dropped from a two-month high
  • Silver futures for December delivery climbed 1.2 percent
  • Crude fell for the first time in three days
  • Copper fell the most this month
  • U.S. durable-goods orders signals slower demand growth

Gold dropped from a two-month high as a stronger dollar reduced demand for the precious metal as an alternative investment. Silver futures for December delivery climbed 1.2 percent to $24.055 an ounce on the Comex, after reaching $24.465, the highest since April 30. Last week, the metal advanced 1.8 percent, the fifth straight gain and the longest rally since September. crude fell for the first time in three days as orders for U.S. durable goods dropped more than forecast in July and Libya restarted exports from a previously closed port. Copper fell the most this month on concern that a bigger-than-expected drop in U.S. durable-goods orders signals slower demand growth in the country, the world’s second-biggest user of the metal.

Technical Trends:

ZINC(JULY) Trend: Bullish  | Strategy: Buy on dips
R1- 126.8, R2- 128.5 | S1-123.3 , S2- 120.5
NICKEL(JULY)
Trend: Bullish  | Strategy: Buy on dips
R1- 955, R2- 987 | S1-908 , S2- 873
ALUMINUM (JULY)
Trend: Bullish  | Strategy: Buy on dips
Trend R1- 120.5, R2- 122.5 | S1-117.5 , S2- 115.3
CRUDE (JULY)
Trend: Consolidate  | Strategy: Buy on dips
R1- 6955, R2- 7055 | S1-6780 , S2- 6690
NATURAL GAS (JULY)
Trend: Consolidate  | Strategy: Buy on dips
R1- 237, R2- 247  S1-223, S2- 215
LEAD (JULY)
Trend: Bullish | Strategy: Buy on dips
R1- 144.3, R2- 147.7 | S1-140.2 , S2- 136.5
GOLD (Aug)
Trend: Bullish | Strategy: Buy on dips
R1- 32170, R2- 32600 | S1-31350 , S2- 30980
SILVER (SEP)
Trend: Bullish  | Strategy: Buy on dips
R1- 54850 R2- 56500 | S1-52850 , S2- 51180
COPPER (AUG)
Trend: Bullish  | Strategy: Buy on dips
R1- 479, R2- 487 | S1-463 , S2- 455

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