MCX Crude oil Updates:-Crude oil is expected to trade with a negative bias today, taking cues from the news that Iran has agreed to resume its nuclear talks which will ease supply worries. Additionally, unfavorable economic data from
China and expected strength in the US dollar index will also exerted downside pressure on oil price.
MCX Crude Trading level :- support at - 5262/5230
Resistance at -5312/5343
NCDEX Commodity Tips and Updates:-
Ncdex Jeera Updates:-We expect prices to trade sideways to lower for the day.
Jeera Trading Level:-Support at-11498-11729-11901
Resistance at -12303-12534-12706
NCDEX Pepper Updates:- A crucial support is visible at 37300 regions; breaking off the same with volume would continue the downside momentum towards 36800 followed by 36300 levels for the day. Conversely, on the other side inability to do so may see short covering rally towards 38500 levels for the day.
Trading Levels for Pepper:-Support->37300-36970-36800-36300
Resistance->37945-38420-38600.
NCDEX Chana Updates:-Inability to clear above the 22 day EMA resistance at 3750 could be a bearish signal and expect a fall towards 3650 then 3600
levels.
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