COMMODITY MARKET TODAY ,IS WHERE THE STAKES : MCX MARKET LEVEL (SUPP & RESIST.) UPDATES 29 NOV 2016.

COMMODITY MARKET OUTLOOK

The crucial meeting at the OPEC meeting in Vienna and the first decline in crude oil has increased. Brent has come down to $ 48 and is trading down about 1 percent. OPEC member countries, which have not yet, clear how they will reduce production. The largest in the non-OPEC countries, have distanced themselves from this whole scheme. The crude oil prices are under pressure. However, even that is being considered today and tomorrow in the heavy crude is likely to see volatility.

In terms of the domestic market, MCX crude oil fell by 0.92 per cent is trading around Rs 3223. While natural gas trading above Rs 230 with a gain of 0.13 per cent is. MCX gold has come down to Rs 28715 with a slight decline. While silver around Rs 40660 with mild weakness is visible

COMMODITY LEVEL UPDATES

Commodity Market update:-

GOLD

PP-28744

R1- 28830                                    S1-28648

R2- 28915                                    S2-28569

SILVER

PP-40825

R1- 41015                                    S1-40452

R2- 41320                                    S2-40249

CRUDE OIL

PP-3223

R1- 3394                                       S1-3187

R2- 3332                                       S2-3129

NATURAL GAS

PP-228.2

R1- 231.9                                      S1-226.7

R2- 233.6                                      S2-223.8

COPPER

PP-404.7

R1- 407.9                                      S1-396.6

R2- 414.3                                      S2-392.9