Commodity Trading Report
According to a report released by Forward Markets Commission (FMC) in the middle of the September 16 to 30, nearly 7.33 lakh crore traded on commodity exchanges, which is nearly 28 per cent down of over the corresponding period of the previous year's. During fiscal year 2013 with a turnover on exchanges is 87.63 lakh crore. It is also close to the 5.5 per cent decline. Gold and silver trading turnover is impacted by declining exchanges. During fiscal year 2013 gold - silver futures turnover of around Rs 40.62 lakh crore, which is 30 per cent lower than last year. However, nearly 27 per cent of Agri Commodity futures trading is a rose.
Crude Updates
Seems strong trading in crude oil. However crude has faced a down trend in its couple of last trading session, but today it has shown its strength. MCX crude oil is 0.68 per cent up from its previous close. However, NYMEX crude oil prices above 92 dollars. MCX Crude Updates suggesting a bullish trend in crude oil. It has a strong resistance at 4980 and a crucial support at 4790 on downside.
Copper Updates
MCX base metals aluminum is broken Over 1 per cent. Nickel is also about 0.5 per cent. However, copper and lead are showing light speed. Current copper trend are suggesting a consolidate trend. However MCX Copper updates are suggesting a strong resistance of 440 level to check today but initially a crucial support is also there at 431 level. Copper Updates are to buy it on lower levels.
