Friday, 31 July 2020
TIME 1:06 PM IST
MCX METALS MARKET REPORT – wear mask
Gold, Copper, silver and zinc have been the best performers in MCX metals in the first seven months of the year. Momentum, trend and technical are all bullish for them for August. MCX metals have appreciated in July even as rupee gained against the US dollar. Bullish factors for gold, silver, copper and zinc have been discussed in our daily report off and on. In June and July months traders have ignored global economic data releases. In August, USA and other nation’s economic data releases will affect global metal prices and energy prices. Trade very carefully.
MCX Zinc August: Current price: Rs.184.10 Zinc can rise to 189.90 and 194.60 (by next week) as long as it trades over 179.70. Zinc needs to trade below 189.90 for a few days to be in short term bearish zone.
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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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THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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