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Daily MCX Newsletter 13th Jan 2017

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Money Maker Research Pvt. Ltd. MARKET WRAP

PRECIOUS METALS: Gold may trade in a range bound tracking cues from international exchange. Mixed economic data from major economies, Fed’s debate over future pace of rate hikes and uncertainty about US economic policies under Trump has kept risk sentiment weak. While these factors still persist, gold has rallied too sharply and some correction is possible.

ENERGY: Crude Oil prices are high on yesterday due to news that key crude exporters, including Saudi Arabia and Russia, were cutting production to reduce a global crude glut, and on forecasts of record demand in China.

BASE METALS: Base metals prices are high on yesterday after it is seeking support from recent weakness in US Dollar along with hopes of robust demand especially top consumer China.

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Money Maker Research Pvt. Ltd. PIVOTS LEVEL: GOLD(FEB) RESISTANCE2: 28700 RESISTANCE1:28500 SUPPORT1:28100 SUPPORT2:27900 SILVER (MARCH) RESISTANCE2:41600 RESISTANCE1:41200 SUPPORT1:40400 SUPPORT2:40000 CRUDE OIL (JAN) RESISTANCE2:3730 RESISTANCE1:3680 SUPPORT1:3570 SUPPORT2:3520 COPPER (FEB) RESISTANCE2:410 RESISTANCE1:405 SUPPORT1:395 SUPPORT2:391

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Money Maker Research Pvt. Ltd. CHART OF THE DAY CRUDE OIL

CALL BUY: CRUDE OIL JAN ABOVE 3640 TARGETS 3690/ 3740 STOP LOSS 3580

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Mcx daily report 13 jan 2017  

MCX Daily Report for 13th Jan 2017 by Money Maker Research

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