Nov. 8 at 11:02 AM
MCX Pre - Market Update - Swing Traders
ENERGY -
$NATURALGAS - Closed previous day with a +12% gain. Winter onset in Europe and USA to increase demand for natural gas but supply seems to be limited for the foreseeable future. Bullish sentiment.
$CRUDEOIL Consolidating. Recession possibilities next year will limit upside in price, whereas, OPEC+ output cuts to limit downside. Some action can be seen after US Mid-Term elections
BULLION
$B Consolidating
$SILVER sideways movement
METALS
$ALUMINIUM Consolidating at support levels after a downtrend
$COPPER Breakout from consolidation, needs to hold 665 levels
$LEAD sideways movement
$ZINC fakeout from symmetrical triangle pattern. Look for strong price action before taking a position
AGRI-COMMODITIES
$COTTON Bullish retracement of primary downtrend. Can look for counter-trend setups.
