Wednesday, June 29, 2011

MCX Commodity Market Technical Report Today

Crude oil prices rose on Tuesday on optimism that Greece can pass an unpopular austerity program, and also on lift from a weak dollar. The weak dollar added lift to dollar denominated oil. Copper rose on Tuesday as an agreement by French banks to roll over Greek debt supported appetite for riskier assets but caution remained ahead of Greece's vote  on austerity measures later in the week. Gold rose back above $1,500 an ounce in European Tuesday.

GOLD EDGES ABOVE $1,500/OZ AS EURO, OIL RECOVER.
CRUDE OIL GAINS GROUND ON HOPES FOR GREECE RESOLUTION.
COPPER GAINS, EYES ON GREECE.
DOMESTIC SPICES COMPLEX RETREAT ON HIGH ARRIVALS.


Trading Strategies for Yesterday
Precious metals were trading higher on COMEX yesterday.
Base metals were trading higher on International bourses
yesterday.
Crude oil was trading higher on NYMEX
yesterday.

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