US Oil Extends Decline, Weighed Down By Dollar | Today Commodity Market News 30 JAN 2018.



Bullion - Opens on negative Note Gold -29980-29990 Silver -39100-39120

Energy - Opens on mixed Note Crude Oil -4147-4150 Natural Gas -203.203.50 

Base Metals - Opens on negative Note Copper -448-450 Nickel -869-870 Lead -165.20-165.30 Zinc - 227.70-227.80 Aluminium -141.10-141.15



MCX Gold opened on negative note, where price fell down for the day, which may consider as profit booking after a long bullish rally. 

MCX Silver has formed rising channel formation, where price has traded above the 50 days EMA. Which is a bullish set up as long as price hovers within the channel. 

MCX Copper price remained mostly sideward during the last session. On the weekly chart, MCX Copper price has formed rising wedge pattern.

MCX Nickel has given rising trend line breakout and traded near two and a half moths high with good consolidation; which indicate bullish rally will continue further.

Crude Oil price opened higher and came down in second half of the sessions. Overall, Prices have been trading in bullish trend; where it has formed rising channel formation on weekly chart.

Natural Gas price has opened on flat note traded sideways for the entire day. On the weekly chart, Natural Gas has been trading between two consecutive trend line; where price has settled near the upper line after the expiry of previous contract.

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