MCX Metals Market Report: 4th December 2019

By: Admin
160165

Insignia Consultants

New Delhi

Wednesday, 04 December 2019

TIME 9:40 AM IST                         

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MCX METALS MARKET REPORT

Inverse correlation between was there between precious metals and industrial metals yesterday on further escalation of US-China trade war. Gold and silver will remain firm as long as trade war theme is the business news headlines. Sharp corrections should be used to go long. Today US November private ADP jobs number at 6:45pm is the key. There are other US economic data release as well BUT jobs is the key. Golf and silver need to break key resistances while industrial metals need to trade over key long term support today.

Intraday volatility will rise today. MCX Crude oil has managed to trade over key short term support which is a slightly positive sign.  Natural gas if it trades over current price will zoom.

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Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees  have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. All analyses used herein are subjective opinions of the author and should not be considered as specific investment advice. Investors/Traders must consider all relevant risk factors including their own personal financial situation before trading. Websitewww.insigniaconsultants.in. Prepared by Chintan Karnani

Disclosure: Members, employees, directors, clients and all other people associated with “Insignia consultants” do trade in MCX metals and energies. They may or may not have positions on the trading strategies mentioned in this report. They may also have open positions in MCX metals and energies futures in trading strategies other than those mentioned in this report.

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