MCX Bullion Trend : Nickel, Copper Updates Today

mcx gold tips for today,silver trend,free commodity tips,live mcx trend

Mcx bullion market open at flat note on early note of the commodity segment start. 

Gold silver updates(precious metals) :- We expect precious metals to trade with positive bias owing to upbeat global market sentiments along with weakness in the DX in today’s session. Further, expectation of cut in the interest rates by the ECB and US Federal Reserve will support upside in the prices. With U.S. markets remaining closed less movement would be seen. However, in the domestic markets Gold prices might trade on a bearish note due to appreciation in the Indian Rupee ahead of expectations of positive reforms by the Government of India. 

Crude oil trend :- crude oil prices to trade on positive note today taking cues from decline in US crude oil inventories, supply concerns from Iran coupled with weakness in the DX. However, appreciation in the Indian Rupee can prevent further upside in crude oil prices on the MCX. Also less movement would be observed in today’s session as US Markets are closed for Independence Day. 

Copper View for today :- Copper is expected to trade on weak note during the morning session as the investor's elusive view on the implementation of the measures announced by the EU leaders during the last week in summit might add to the weak economic growth in the China's service sector in June and hamper the metal. Comex was shut on Wednesday for the Independence Day holiday. Copper is likely to find support at Rs. 425 per kg and Rs.423 per kg and resistance at Rs. 429 per kg and Rs. 433 per kg. 

Mcx Nickel trend today :- Nickel was still traded in range bound and buoyed by 0.6% or Rs. 5.4 at Rs. 940 per kg on Tuesday, 3 July at MCX amidst some bargain hunting. Nickel tested an intraday high at Rs. 947.9 per kg and low at Rs. 933.6 per kg and was finding strong support at Rs.934 per kg and Rs. 928 per kg and resistance at Rs. 945 per kg and Rs. 954 per kg. The open interest dipped by 14% to 9285 lots and found to be traded below 9-day EMA with its RSI at 49.81. 

Want commodity market tips and updates just FILL THE FORM and have accurate MCX NCDEX Tips On Intraday and Delivery Basis in your mobile.