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MCX Daily report

Daily Mcx report that show the performance of Revenue Maker .

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MCX Daily report

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  1. DAILY COMMODITY REPORT 12/3/2019 WWW.REVENUEMAKER.IN

  2. DAILY UPDATE MARKET UPDATE BULLIONS -Bullion counter may witness some bounce back at lower levels as the dollar edged lower against major currencies following the U.S. retail sales data and a rally in the pound. U.S. retail sales rose 0.2 in January, surprising economists who had expected an unchanged result. Gold can take support near 31700 and can recover towards 32100. Silver can take support near 38000 and can recover towards 38700. Prime Minister Theresa May won legally binding Brexit assurances from the European Union on Monday in a last ditch attempt to sway rebellious British lawmakers who have threatened to vote down the deal again. Federal Reserve chairman Jerome Powell said the U.S. central bank does “not feel any hurry” to change the level of interest rates again as it watches how a slowing global economy affects local conditions in the U.S. WWW.REVENUEMAKER.IN

  3. MARKET UPDATE ENERGY: Crude oil may open on positive note as oil prices rose on Tuesday, lifted by output cuts led by producer group OPEC as well as healthy demand, and although analysts said economic headwinds posed downside risks to crude markets. Venezuela’s opposition-run congress on Monday declared a “state of alarm” over a five-day power blackout that has crippled the country’s oil exports and left millions of citizens scrambling to find food and water. The United States will drive global oil supply growth over the next five years, adding another 4 million barrels per day (bpd) to the country’s already booming output, the International Energy Agency said on Monday. U.S. crude oil output will rise nearly 2.8 million bpd, growing to 13.7 million bpd in 2024 from an average of just under 11 million bpd in 2018, the IEA said, making the United States by far the biggest oil producer in the world. Natural gas may remain sideways as it can take support near 192 while taking facing resistance near 196 in MCX. U.S. natural gas futures fell to a two-week low on Monday on forecasts for the weather to turn warmer over the next two weeks than previously expected. Meteorologists now project temperatures will remain near normal through late March. Last week, they were forecasting seasonal weather this week and cooler than normal temperatures next week. MARKET UPDATE METALS: Base metals prices may trade with positive bias. London base metal prices rose across the board in early Asian trade on Tuesday, supported by a weaker dollar and tracking stock markets higher after the European Commission agreed to changes in a Brexit deal. Copper may take support near 445 and can recover towards 458 in MCX. China's automobile sales fell 13.8 percent year-onyear in February, marking the eighth consecutive month of decline in the world's largest auto market. Zinc can take support near 192 while facing resistance near 195. The global zinc market deficit narrowed to 28,000 tonnes in January from a revised deficit of 62,400 tonnes in December, data from the International Lead and Zinc Study Group (ILZSG) showed. Lead can move in range of 143-146. Nickel can also test 920 while taking support near 900. Aluminum prices may trade in range of 142-144. Queues to take aluminium out of LME-approved warehouses owned by ISTIM UK in Port Klang, Malaysia rose to 229 days in February from 118 days in January and zero days in December. WWW.REVENUEMAKER.IN

  4. DAILY SUPPORT/RESISTANCE GOLD (FEBRUARY) RESISTANCE 2: 31943 RESISTANCE 1: 31919 SUPPORT1: 31873 SUPPORT2: 31851 SILVER(FEBRUARY) RESISTANCE 2: 38490 RESISTANCE 1:38466 SUPPORT1: 38425 SUPPORT2: 38408 CRUDE OIL (FEBRUARY) RESISTANCE 2: 3975 RESISTANCE 1: 3971 SUPPORT1: 3962 SUPPORT2: 3957 COPPER (FEBRUARY) RESISTANCE 2:450.65 RESISTANCE 1:450.40 SUPPORT1:449.80 SUPPORT2:449.45 WWW.REVENUEMAKER.IN

  5. GOLD (DAILY) TECHNICAL OUTLOOK:Gold futures fell on Monday, pulling back after bullion failed to settle above the psychologically significant $1,300 mark despite a rally late last week. On the daily chart, price has rising Channel breakdown and sustained below it. Moreover, price has also shifted below 21 days DEMA. Furthermore, price has moved below“ parabolic SAR” which reinforce more bearishness in the counter. On the other hand, a momentum indicator RSI (14) and MACD has shown negative crossover. Hence, we expect bullish move in the prices for the day. Strategy for Traders: Gold trend is bearish. Support & Resistance- 31873/31919 WWW.REVENUEMAKER.IN

  6. SILVER (DAILY) TECHNICAL OUTLOOK: MCX Silver price has down by 0.60% on Monday session. On the daily chart, price has rising Channel breakdown and sustained below it. Moreover, price has also shifted below 21 days DEMA. Furthermore, price has moved below“ parabolic SAR” which reinforce more bearishness in the counter. On the other hand, a momentum indicator MACD has also moved down and shown negative crossover. Moreover, Volume has been decreasing continuously which suggests a reversal in the price. Hence, we expect bearish move in the prices for the day. Strategy for Traders:. Silver trend is Bearish. Support & Resistance - 38425/38466 WWW.REVENUEMAKER.IN

  7. COPPER (DAILY) TECHNICAL OUTLOOK: MCX Copper price has closed flat on Monday. On the daily chart, price has sustained above Inverse H&S pattern breakout and near to lower Bollinger band formation, which indicates further strength in the counter. On a weekly timeframe, price has been hovering between 61.8% to 50% retracement level, which support the uptrend for near term. So based on the above technical aspects we recommend bullish movement for the day. Strategy for Traders: bullish trend shows chart. Support & Resistance -449.80/450.40 WWW.REVENUEMAKER.IN

  8. CRUDE (DAILY) TECHNICAL OUTLOOK:Oil prices gained on Monday in Asia following reports that Saudi Arabia oil minister Khalid al-Falih said there will be no OPEC+ output policy change until June. On the daily chart, price has given falling channel breakout, which suggests bullish rally will continue further for near term. Moreover, price has moved above 21 days SMA, which signifies bullish sentiments in the counter, which led to upside in the price. In addition, a momentum indicator RSI (14) and MACD has shown positive crossover. Hence, we expect bullish move for the day. Strategy for Traders:. -Bullish Trend. Support & Resistance -3962/3971. WWW.REVENUEMAKER.IN

  9. DISCLAIMER The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the rights to choose the product/s that suits them the most. Investment in Stocks has its own risks. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it & takes no responsibility whatsoever, for any financial profit or losses which may arise from the recommendations given above. The stock price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice. Revenue Maker does not purport to be an invitation or an offer to buy or sell any financial instrument. Analyst or any person related to Revenue Maker might be holding positions in the stocks recommended. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation for which either the site or its owners or anyone can be held responsible for. Any surfing and reading of the information is the acceptance of this disclaimer. All Rights Reserved. Our Clients (Paid or Unpaid), any third party or anyone else have no rights to forward or share our calls, SMS, reports or any other Information provided by us to/with anyone which is received directly or indirectly by them. If found so then Serious Legal Actions can be taken. Any surfing and reading of the information is the acceptance of this disclaimer. All Rights Reserved by Revenue Maker. WWW.REVENUEMAKER.IN

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