WHAT SHOULD BE THE STRATEGY IN THE COMMODITY MARKET TODAY MCX MARKET REPORT 01 DEC 2016.

COMMODITY MARKET OUTLOOK

Precious metals are trading lower on COMEX today. We expect prices to trade lower for the day as the dollar held firm around 9-1/2 month highs against the yen, boosted by inflation expectations, while growing odds of a U.S. interest rate hike also added pressure.

Industrial metals are trading mix on International bourses today. We expect prices to trade range bound for the day, as a rally in oil prices filtered through to other commodities.

Crude oil is trading higher on NYMEX today. We expect prices to trade higher for the day, after producer club OPEC and Russia cut a deal to reduce output to drain a global supply glut, but analysts warned prices could recede as other producers stand ready to fill the gap.

OPEC crude production cut is announced. According to the decision from January next year to 12 million barrels per day of production will be deducted. Currently 3.36 million barrels a day, OPEC's crude production. Crude oil has accelerated since the decision, yesterday and today about 10 per cent in the price of crude have been bouncing. Brent prices have gone beyond $ 52. While Nymex crude oil is trading close to $ 50.

COMMODITY MARKET TIPS

Commodity Market update:-

GOLD

PP-28308

R1- 28406                                    S1-28077

R2- 28590                                    S2-27966

SILVER

PP-40270

R1- 40491                                    S1-39831

R2- 40849                                    S2-39594

CRUDE OIL

PP-3303

R1- 3443                                       S1-3251

R2- 3508                                       S2-3140

NATURAL GAS

PP-228.7

R1- 231.3                                      S1-227.1

R2- 232.9                                      S2-224.9

COPPER

PP-397.6

R1- 404.3                                        S1-393.7

R2- 408.3                                        S2-388.1

COMMODITY MARKET TODAY, IS WHERE THE STAKES | MCX MARKET UPDATES 30 NOV 2016.

COMMODITY MARKET OUTLOOK

Bullion snapped its two days winning streak on Tuesday as dollar recovered after the strong set of economic releases from US. Spot gold settled at $1180/ounce after slipping from $1195/ounce. The US economy advanced an annualized 3.2 percent on quarter in the three months to September of 2016, up from 1.4 percent growth in the previous period and better than a 2.9 percent expansion in the advance estimate. Separately, the CB consumer sentiment for the month of November rose to 107.10 from expected 101.3.

International Silver prices ended flat on Tuesday, while on MCX prices ended with modest gains of Rs 166, to end the session at Rs 40838/kg. The Dollar index rose to 101.10 higher by 0.18 % on Tuesday.

COMMODITY MARKET

Commodity Market update:-

GOLD

PP-28762

R1- 28825                                    S1-28664

R2- 28882                                    S2-28577

SILVER

PP-40838

R1- 41069                                    S1-40454

R2- 41283                                    S2-40112

CRUDE OIL

PP-3148

R1- 3204                                       S1-3052

R2- 3284                                       S2-2998

NATURAL GAS

PP-228.9

R1- 232.9                                      S1-224.7

R2- 237.7                                      S2-221.3

COPPER

PP-393.2

R1- 397.2                                        S1-388.3

R2- 402.5                                        S2-385.0

COMMODITY MARKET TODAY ,IS WHERE THE STAKES : MCX MARKET LEVEL (SUPP & RESIST.) UPDATES 29 NOV 2016.

COMMODITY MARKET OUTLOOK

The crucial meeting at the OPEC meeting in Vienna and the first decline in crude oil has increased. Brent has come down to $ 48 and is trading down about 1 percent. OPEC member countries, which have not yet, clear how they will reduce production. The largest in the non-OPEC countries, have distanced themselves from this whole scheme. The crude oil prices are under pressure. However, even that is being considered today and tomorrow in the heavy crude is likely to see volatility.

In terms of the domestic market, MCX crude oil fell by 0.92 per cent is trading around Rs 3223. While natural gas trading above Rs 230 with a gain of 0.13 per cent is. MCX gold has come down to Rs 28715 with a slight decline. While silver around Rs 40660 with mild weakness is visible

COMMODITY LEVEL UPDATES

Commodity Market update:-

GOLD

PP-28744

R1- 28830                                    S1-28648

R2- 28915                                    S2-28569

SILVER

PP-40825

R1- 41015                                    S1-40452

R2- 41320                                    S2-40249

CRUDE OIL

PP-3223

R1- 3394                                       S1-3187

R2- 3332                                       S2-3129

NATURAL GAS

PP-228.2

R1- 231.9                                      S1-226.7

R2- 233.6                                      S2-223.8

COPPER

PP-404.7

R1- 407.9                                      S1-396.6

R2- 414.3                                      S2-392.9

WHAT SHOULD BE THE STRATEGY IN THE COMMODITY MARKET TODAY (SUPPORT & RESISTANCE) UPDATE 28 NOV 2016.

COMMODITY MARKET OUTLOOK

GOLD

On hourly chart, MCX Gold prices are trading below its Horizontal Trend line. Moreover, MCX Gold prices are trading below its 21 HEMA which suggest short term trend remains down. Moreover, Momentum Indicator RSI is trading below 50 levels on hourly time frame which indicates negative momentum to the prices. For now we expect prices should move lower towards 28200 levels in the coming trading sessions.

SILVER

On hourly chart, MCX Silver prices are trading in falling wedge pattern & are expected to break on the higher side. Furthermore, on COMEX Silver Prices has completed Bullish White Swan Harmonic pattern at $16.30 levels. In Addition, MCX Silver prices are trading above its 21 HEMA on hourly time frame which indicates positive momentum to the prices. For now we expect prices to move higher towards 41100 levels in few trading sessions.

COPPER

On hourly chart, MCX Copper price are trading above its trend line support. Moreover, COMEX Copper is trading in higher high higher low pattern on hourly chart. In addition MCX Copper prices are trading above its 50 HEMA. Furthermore, momentum indicator RSI is trading above 60 levels on daily time frame. For now we expect prices to move higher towards 411 levels in coming trading sessions.

 CRUDE OIL

MCX Crude Oil prices has witnessed breakdown of its Rising Channel at 3244 levels in hourly time frame. MCX Crude Oil is trading below its 50 HEMA on hourly chart. In addition, NYMEX Crude Oil has formed Rounding Top pattern in hourly time frame. Moreover, Momentum indicator RSI is trading below 45 levels on hourly chart which suggest the negative movement in the prices. For now we expect prices to move lower 3115 towards levels in coming trading sessions.

Commodity Market update:-

GOLD

PP-28604

R1- 28835                                    S1-28700

R2- 28923                                    S2-28285

SILVER

PP-40252

R1- 40645                                    S1-39920

R2- 40977                                    S2-39527

CRUDE OIL

PP-3272

R1- 3305                                      S1-3269

R2- 3308                                      S2-3236

NATURAL GAS

PP-208.2

R1- 209.7                                    S1-207.4

R2- 210.5                                    S2-205.9

COPPER

PP-401.0

R1- 403.7                                    S1-399.7

R2- 404.9                                    S2-397.0

COMMODITY MARKET STRATEGY REPORT UPDATE.

As the US Federal Reserve meeting in the nearest coming is increasing pressure on gold and silver prices. Domestic gold price has come down to Rs 28500. The global market, gold is under $ 1180. The price of silver is below Rs 40,000, Rs decline and recovery in global markets has put pressure on domestic prices double.

 The sell-off in base metals dominates. Nearly all metals including copper on MCX are trading down 0.5-1 percent. MCX Copper dropped 0.4 per cent to Rs 401 has arrived, while the weakness of aluminium with 1 per cent is trading at Rs 119.8. Nickel is trading at Rs 790, down 0.2 per cent. 0.4 per cent at Rs 152.75 with lead has come. Zinc is flat move.

COMMODITY MARKET STRATEGY

COMMODITY FREE TRAIL TIPS | TODAY MCX MARKET UPDATE 25 NOV 2016.

COMMODITY MARKET OUTLOOK

Gold fell as the dollar strengthened on growing expectations of Fed rate hike in December following positive U.S. economic data.

Base Metal Silver prices eased as the dollar traded within reach of an almost 14-year high hit on positive U.S. economic data.

Crude oil dropped amid uncertainty ahead of a planned OPEC-led crude production cut and thin liquidity during the U.S. Thanksgiving holiday.

Copper prices gained on expectations of a pick-up in global manufacturing and infrastructure spending.

Zinc rallied as investors poured funds into metals in expectation of inflation in China and the United States.

Nickel dropped on profit booking after prices remained supported after Wednesday’s better-than-estimated U.S. data on durable goods.

Natural gas dropped on profit booking in light trading day after prices gained Wednesday as storage data showed an unexpected decline in inventories.

MCX TIPS | BASE METAL | ENERGY PACK

Commodity Market update:-

GOLD

PP-28722

R1- 28814                                    S1-28654

R2- 28882                                    S2-28562

SILVER

PP-40271

R1- 40467                                    S1-40117

R2- 40621                                    S2-39921

CRUDE OIL

PP-3302

R1- 3321                                      S1-3283

R2- 3340                                      S2-3264

NATURAL GAS

PP-208.3

R1- 210.1                                    S1-206.9

R2- 211.5                                    S2-205.1

COPPER

PP-402.7

R1- 408.4                                    S1-396.9

R2- 414.2                                    S2-391.2

COMMODITY MARKET TIPS | TODAY MCX MARKET REPORT 24 NOV 2016.

COMMODITY MARKET OUTLOOK

GOLD

As per yesterdays view MCX Gold traded on a lower side and almost achieved our short term target at 28716. On daily chart, MCX Gold prices are trading below its Horizontal Trend line. Moreover, MCX Gold prices are trading below its 50 HEMA which suggest short term trend remains down. Moreover, Momentum Indicator RSI is trading below 30 levels on hourly time frame which indicates negative momentum to the prices. For now we expect prices should move lower towards 28400 levels in the coming trading sessions.

SILVER

On hourly chart, MCX Silver prices are near its Horizontal trend line support on hourly time frame. Furthermore, on COMEX Silver Prices has completed Bullish White Swan Harmonic pattern at $16.30 levels. In Addition, Momentum Indicator RSI is also trading in oversold zone on hourly time frame which indicates positive momentum to the prices. For now we expect prices to move higher towards 41300 levels in few trading sessions.

COPPER

As per yesterdays view MCX Copper traded on a higher side and achieved our short term target of 390. On hourly chart, MCX Copper price have observed breakout of its Consolidation range at 391 levels on hourly time frame. Moreover, COMEX Copper has observed breakout of its Symmetrical pattern at $2.60 levels on hourly chart. In addition MCX Copper prices are trading above its 50 HEMA. For now we expect prices to move higher towards 402 levels in coming trading sessions.

CRUDE OIL

As per our yesterdays view MCX Crude Oil traded on a higher side. MCX Crude oil price have retested its trend line at 3239 levels & is trading above its Horizontal trend line on hourly chart. MCX Crude Oil is trading above its 21 HEMA on hourly chart. Moreover, Momentum indicator RSI is trading above 60 levels on hourly chart which suggest the positive movement in the prices. For now we expect prices to move higher 3400 towards levels in coming trading sessions.

Commodity market tips

Commodity Market update:-

GOLD

PP-29027

R1- 29337                                    S1-28700

R2- 29536                                    S2-28518

SILVER

PP-40547

R1- 41125                                    S1-40212

R2- 41460                                    S2-39634

CRUDE OIL

PP-3291

R1- 3307                                      S1-3242

R2- 3356                                      S2-3226

NATURAL GAS

PP-204.0

R1- 207.5                                    S1-200.7

R2- 210.8                                    S2-197.2

COPPER

PP-386.0

R1- 390.5                                    S1-379.1

R2- 397.4                                    S2-374.6

Fundamental News: 

·         Gold prices gave up gains on Tuesday as the dollar regained ground against a basket of the other major currencies, pushing the precious metal back towards recent lows.  

·         Gold prices edged higher on Wednesday as the dollar hovered below almost 14-year highs against a currency basket as investors awaited the release of minutes from the Federal Reserve’s policy meeting earlier this month.

·         Gold prices fell to the lowest levels since February on Wednesday after the dollar surged to fresh 14-year highs as upbeat U.S. economic reports underlined expectations for higher interest rates.  

·         Oil prices rose on Wednesday, after the U.S. Energy Information Administration reported a larger-than-expected U.S. oil inventory drawdown last week.  

·         OPEC will debate an oil output cut of 4.0-4.5 percent for all of its members except Libya and Nigeria next week but the deal's success hinges on an agreement from Iraq and Iran, which are far from certain to give full backing.  

·         U.S. oil prices moved higher on Wednesday, hovering close to a three-week peak as traders were still hoping OPEC will be able to hammer out a production freeze deal before the end of the month.

MCX COMMODITY TIPS INDIA | TODAY COMMODITY MARKET UPDATES 23 NOV 2016

COMMODITY MARKET OUTLOOK

GOLD

MCX Gold prices has witnessed breakdown of its Rising Channel pattern at 29086 levels on hourly time frame. On daily chart, MCX Gold prices are trading below its Horizontal Trend line. Moreover, MCX Gold prices are trading below its 50 HEMA which suggest short term trend remains down. Moreover, Momentum Indicator RSI is trading below 50 levels on hourly time frame which indicates negative momentum to the prices. For now we expect prices should move lower towards 28700 levels in the coming trading sessions.

SILVER

On hourly chart, MCX Silver prices are trading in a consolidation pattern which is expected to break on the higher side. Moreover, MCX Silver prices are trading above its 05 HEMA which suggest short term trend remains up. Furthermore, on COMEX Silver Prices has completed Bullish White Swan Harmonic pattern at $16.44 levels. In Addition, Momentum Indicator RSI is also observed bullish Range swift on hourly time frame which indicates positive momentum to the prices. For now we expect prices to move higher towards 41550 levels in few trading sessions.

COPPER

As per yesterdays view MCX Copper traded on a higher side and achieved our short term target of 386. On hourly chart, MCX Copper price are trading above its Consolidation Range on hourly time frame. Moreover, COMEX Copper has observed breakout of its Symmetrical pattern at $2.50 levels on hourly chart. In addition MCX Copper prices are trading above its 21 HEMA. For now we expect prices to move higher towards 390 levels in coming trading sessions.

CRUDE OIL

As per our yesterdays view MCX Crude Oil traded on a higher side and achieved our short term target of 3340. MCX Crude oil price have witnessed breakout of its consolidation pattern at 3224 levels on hourly chart. MCX Crude Oil is trading above its 21 HEMA on hourly chart. Moreover, Momentum indicator RSI is trading above 60 levels on hourly chart which suggest the positive movement in the prices. For now we expect prices to move higher 3360 towards levels in coming trading sessions.

Commodity Market update:-

GOLD

PP-29163

R1- 29196                                    S1-29105

R2- 29257                                    S2-29059

SILVER

PP-40774

R1- 40782                                    S1-40508

R2- 41048                                    S2-40350

CRUDE OIL

PP-3316

R1- 3358                                      S1-3274

R2- 3400                                      S2-3216

NATURAL GAS

PP-201.7

R1- 204.1                                    S1-198.2

R2- 207.6                                    S2-195.8

COPPER

PP-381.8

R1- 383.6                                    S1-376.7

R2- 387.7                                    S2-374.3

Fundamental News: 

·         Gold prices rose for a second day on Tuesday as the weaker dollar helped lift the precious metal off recent lows.  

·         Prices of the yellow metal are down more than 4% so far this month amid optimism that increased U.S. fiscal spending under a Trump administration will spur economic growth and inflation, which would ultimately lead to an era of higher interest rates.

·         OPEC should allow Iraq to continue raising output with no restrictions, Foreign Minister Ibrahim al-Jafari told reporters in Budapest on Tuesday, commenting on a plan by the organization to limit supply in order to support prices.  

·         OPEC experts discussing how to implement a plan to cut oil output are likely to reach agreement later on Tuesday, a Nigerian delegate said, a possible sign of progress in finalizing the group's first supply-limiting deal since 2008.

·         Iraq Tuesday insisted on an exemption from planned OPEC output cuts as it fights Islamic State.

·         Oil prices rose on Tuesday to their highest this month as a growing consensus emerged in the market that OPEC would overcome internal disputes and scepticism to strike a deal that materially reduces crude output.

MCX FREE TRAIL TIPS | TODAY COMMODITY MARKET UPDATES 22 NOV 2016.

COMMODITY MARKET OUTLOOK

GOLD

MCX Gold prices has witnessed breakdown of its consolidation range at 29000 levels on hourly time frame. On daily chart, MCX Gold prices are trading below its Horizontal Trend line. Moreover, MCX Gold prices are trading below its 50 HEMA which suggest short term trend remains down. Moreover, Momentum Indicator RSI is hovering near 50 levels on hourly time frame which indicates negative momentum to the prices. For now we expect prices should move lower towards 28700 levels in the coming trading sessions.

SILVER

On hourly chart, MCX Silver prices has observed breakdown of its Consolidation pattern at 40400 levels on hourly time frame. Moreover, MCX Silver prices are trading below its 21 DEMA which suggest short term trend remains down. Furthermore, counter is trading below its trend line resistance. In Addition, Momentum Indicator RSI is trading below 50 levels on hourly time frame which indicates negative momentum to the prices. For now we expect prices to move lower towards 39800 levels in few trading sessions.

COPPER

As per view on Friday MCX Copper traded on a higher side and achieved our short term target of 379. On hourly chart, MCX Copper price are trading above its Horizontal trend line on hourly time frame. Moreover, COMEX Copper has observed breakout of its Symmetrical pattern at $2.50 levels on hourly chart. In addition MCX Copper prices are trading above its 21 HEMA. For now we expect prices to move higher towards 386 levels in coming trading sessions.

CRUDE OIL

MCX Crude oil price have witnessed breakout of its consolidation pattern at 3224 levels on hourly chart. MCX Crude Oil is trading above its 21 HEMA on hourly chart. In addition, Counter has observed breakout of its Range bound movement in NYMEX at $47.38 levels on hourly chart. Moreover, Momentum indicator RSI is trading above 60 levels on hourly chart which suggest the positive movement in the prices. For now we expect prices to move higher 3340 towards levels in coming trading sessions.

Commodity Market update:-

GOLD

PP-29003

R1- 29059                                    S1-29905

R2- 29182                                    S2-28824

SILVER

PP-40546

R1- 40626                                    S1-40309

R2- 40863                                    S2-40229

CRUDE OIL

PP-3190

R1- 3218                                      S1-3115

R2- 3293                                      S2-3087

NATURAL GAS

PP-196.6

R1- 198.7                                    S1-191.5

R2- 203.8                                    S2-189.4

COPPER

PP-374.8

R1- 377.2                                    S1-368.7

R2- 383.3                                    S2-366.3

Fundamental News:  

·         Gold prices fell to the lowest level since May on Friday as the dollar rallied to almost 14-year highs amid a rally driven by the U.S. presidential election and expectations that the Federal Reserve will raise interest rates next month.  

·         Gold prices were pressured lower as the dollar continued to surge following the outcome of the U.S.

·         Presidential election, tracking rising U.S. Treasury yields amid expectations that President-elect Donald Trump’s plans to ramp up fiscal spending and cut taxes will spur economic growth and inflation.

·         Gold prices ticked higher in European hours on Monday, but held near the lowest level since May on expectations for a Federal Reserve rate hike and fiscal stimulus by President-elect Donald Trump.  

·         Oil prices rose to a three-week high during European hours on Monday, adding to last week's strong gains on growing expectations that global oil producers will find a way to cap output at a meeting scheduled for the end of this month.  

·         Rowan Companies Plc (N:RDC) said it and Saudi Armco, Saudi Arabia's state oil company, have agreed to form an equally owned joint venture to operate offshore drilling rigs in the country.  

·         Oil prices rose on Monday to their highest in three weeks, catching a lift from a weaker U.S. dollar and from cautious money managers, as OPEC appeared to be moving closer to agreeing an output cut when it meets next week.  

·         Oil prices were up by almost 2% on Monday on renewed hopes OPEC will agree to cut output.