Energy::: Things were getting smooth as both dragon economies were advancing for climax of 'phase one' of trade deal and OPEC with its aliies were set for production cuts till June 2020 in order to curb the prices of black gold. However, the recent issue of Hong Kong bill have increased the tensions and market participants are on tenterhooks between the close of 'phase one' and initiation of fresh tariffs on China from December 15.
On domestic upfront, MCX Gold is trading at 4,175 levels, similar to its previous close. The black gold is trading in a 'Rising Channel' that signals for a consolidated move with a positive bias. RSI is trading at 57.78 levels and expected to extend after breaching 60 levels.