Base Metal Edged Lower | Today Commodity Market Outlook 04 April 2018.
Bullion - Opens on positive Note Gold -30760-30770 Silver -38450-38460
Energy - Opens on mixed Note Crude Oil - 4119-4115 Natural Gas -177-176.50
Base Metals - Opens on mixed Note Copper -441-440.50 Nickel -876-877 Lead -156.25-156.50 Zinc - 213-213.50 Aluminium -129.50-129.60
Gold prices traded lower on Tuesday, after giving a small recovery in previous day due to weaker dollar and trade dispute between U.S. and China.
MCX Silver opened on negative note and continued down for the day; where price has sustained below 21 DEMA on hourly chart.
MCX Copper traded in range bound momentum on Tuesday. Moreover, on daily chart, price has recovered & tested trend line breakdown point after a long correction.
MCX Zinc traded sideways on Tuesday and settled near the previous close. On the daily chart, price has sustained near the upper Bollinger band formation; which could be a immediate resistance level for the prices.
MCX Crude Oil fell down continuously on second day of the week as risk appetite withered in the face of retaliatory tariffs from China, and WTI.
MCX Natural Gas price has been moving between two consecutive trend line; where prices has traded near the lower line and falling down from last two weeks after showing a small recovery.
Share story
0 comments: