MCX Metals Market Report: 23rd January 2020

By: Admin
5827

Insignia Consultants

New Delhi

Thursday, 23 January 2020

TIME 8:53 AM IST                         

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MCX METALS MARKET REPORT

Global focus is on the impact of Chinese corona virus. Crude oil has had a technical breakdown. Gold and silver are in a neutral zone. Copper and industrial metals if they fall today will sink. Surprises (if any) in European central bank meeting can impact metal prices.

Budget is there on 1st February (Saturday). There will be position squaring and rebuilding in all MCX metals before the Union budget. One needs to trade carefully and invest carefully for the short term till 1st February.

Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 71.2050: Rupee can rise to 71.3050 and 71.4750 as long as it trades over 71.0800. Overall trend is up as long as rupee trades over 70.9800.

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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

ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED

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