MCX Metals Market Report: 11th February 2020

By: Admin
76553

Insignia Consultants

New Delhi

Tuesday, 11 February 2020

TIME 9:18 AM IST                         

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MCX METALS MARKET REPORT

Gold and silver have opened lower. Crude oil and industrial metals have opened higher. Natural gas still looks bearish. U. Volatility will rise from today. Trade very carefully. US economic data releases will have to beat street expectation this week for gold price to move into a short term bearish phase.

MCX Zinc Mini February 2020: (previous day close/CMP Rs.168.60)

  1. Zinc can rise to 171.90 today and 175 (by Friday) as long as it trades over 165.20.
  2. Crash till Friday will be there only below 165.20 to 163.10 and 158.90.

Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 71.2375: Crash or sell off will be there only if rupee trades below 71.1550 with 71.3950 as key resistance. Direction of stock markets will be the key to rupee direction.

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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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