2017

Daily MCX Newsletter

02nd FEB 2017

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MARKET WRAP

PRECIOUS METALS:
Precious metals prices are low on Wednesday as the dollar pared gains after the U.S. Federal Reserve
held interest rates unchanged and ADP jobs report which will increase expectations of a robust nonfarm
payrolls report tomorrow.

ENERGY:

Crude Oil prices to trade sideways today, as the production cut from OPEC and Russia will help
stabilize oil prices. However, rising US output will keep a tab on gains.

BASE METALS:

Industrial metal copper fell on Wednesday as the dollar recovered and profit-taking set in after the
metal rose to a two-month high on concerns over a looming strike at the world's biggest copper mine in
Chile.

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PIVOTS LEVEL:

GOLD(APR)
RESISTANCE2: 29300
RESISTANCE1:29100
SUPPORT1:28600
SUPPORT2:28400

SILVER (MARCH)
RESISTANCE2:43200
RESISTANCE1:42700
SUPPORT1:41800
SUPPORT2:41400

CRUDE OIL (FEB)

RESISTANCE2:3740
RESISTANCE1:3680
SUPPORT1:3570
SUPPORT2:3520

COPPER (FEB)
RESISTANCE2:412
RESISTANCE1:408
SUPPORT1:400
SUPPORT2:396

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CHART OF THE DAY

GOLD

CALL BUY : GOLD APR ABOVE 28950 TARGETS 29200/29400 STOP LOSS 28750

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