MCX Metals Market Report: 16th January 2020

By: Admin
6975

Insignia Consultants

New Delhi

Thursday, 16 January 2020

TIME 8:52 AM IST                         

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MCX METALS MARKET REPORT

I have been bullish on copper and nickel this month. There can be some correction in copper and nickel as the US-China trade deal is signed. Overall trend is bullish for copper and nickel. Natural gas is falling on very weak fundamentals and lack of investment interest. Focus of global financial markets will be on Trump and his impeachment related news and Brexit. Yesterday night MCX gold February future zoomed from 39540 to 39700 (after 7:05pm) in a few minutes without any reason. Be prepared for such price moves in all metals and energies till Monday.

Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 70.7200: Crash or sell off will be there below 70.6200 to 70.4850 and 70.3000. Usd/inr needs to trade over 70.9000 to rise further. Medium term support is at 70.3000.

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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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NOTES TO THE ABOVE REPORT

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