Market Report MCX
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This channel is to discuss technical analysis on various commodities that are traded on MCX
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In March 2024, the US economy saw a significant increase in job creation, adding 303,000 jobs, the highest in ten months. This figure surpassed both the previous month’s revised count of 270,000 and the forecasted 200,000. Additionally, revisions to January’s data raised the combined job count for January and February by 22,000. The job growth exceeded the monthly 70,000 to 100,000 jobs needed to match the growing working-age population. Notable sectors with job gains included health care, with 72,000 jobs, particularly in ambulatory services and hospitals; government, especially local government, with 71,000 jobs; and construction with 39,000 jobs. Leisure and hospitality also saw an increase of 49,000 jobs, reaching pre-pandemic employment levels. Other major industries like mining, manufacturing, and financial services showed little to no change in employment numbers.
BTCUSDT - Bitcoin
Keep Tracking the trendline, it can be a good breakout for next few sessions
USDINR can take a big dip which can weaken the Gold prices at MCX and fundamentally will strengthen the prices of Silver
Happy Trading
BTCUSDT Bitcoin
BTC is trying to recover from lower levels after such a volatile session and the way it is holding levels above 66000 again, there are high chances that it will break the all time high of 69000 in spot market very soon, may be at most by tomorrow. Market is highly volatile and trade only with SL, specially if you're on the selling side
Happy Trading
Copper MCX
Copper Price Movement:
Copper recently broke the 730 mark.
Today, it surged and reached a level of 733.
The current trading price is 731.90.
Trading Strategy:
Buying Zone: Consider entering a long position around 730.
Recommended Stop Loss (SL): Set it at 728.35.
Happy Trading
Crude Oil - MCX
Current Crude Oil Price: 6,622
Expectation: Consolidation in crude oil.
Buying Zone: Around 6600 levels.
Recommended Stop Loss (SL): 6,550.
Revised Stop Loss: 6,575.
Anticipated trend: Consolidation followed by a slight uptrend.
For those interested in a long position, consider entering with a stop loss at 6,575.
Happy Trading
