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MCX Bullion Trading News

Discussion in 'Stock Market News & Analysis' started by Capitalstars King, Sep 25, 2015.

  1. Capitalstars King

    Capitalstars King New Member

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    MCX CRUDE OIL OCT., Thursday as seen in the daily chart opened at 2991 levels and day high of 3016 levels. During this period price corrected & made day low of 2921 levels finally closed at 2984 levels. Now, there are chances of further downward movement technically & fundamentally.

    HSBC cautioned not to over-focus on weak China data, arguing that fully developed economies were also slowing. Yet a global oversupply that analysts estimate at 2.5 million barrels per day remains largely in place due to high production.



    DAILY RECOMMENDATION:

    SEL MCX CRUDE OIL AUG., BELOW 3030

    LEVELS FOR TARGET OF T1 2930, T2 2900

    WITH SL OF 3135 LEVELS.


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