COMMODITY MARKET SUPPORT AND RESISTANCE LEVEL UPDATE REPORT 31 JANUARY 2017.

COMMODITY MARKET OUTLOOK

Gold prices edged up on a weaker dollar and as uncertainty over U.S. policy under President Donald Trump stoked safe-haven demand.

 Base Metal Silver dropped after prices seen supported earlier as political uncertainty created by U.S. President’s move to ban people from seven Muslim-majority countries.

Crude oil dropped as news of another weekly increase in U.S. drilling activity spread concern over rising output.

Copper prices dropped as optimism over U.S. President Donald Trump's capacity to drive economic growth faded.

 Zinc gained as prices remained supported underpinned by supply concerns and a softer dollar.

Nickel gained as some buying return as investors judged the recent selloff over the reversal of the Indonesian export Spices ban overdone.

Natural gas dropped to test 220 level following a warmer than normal forecast by the NOAA.

COMMODITY MARKET LEVELS:-

GOLD

P. POINT- 28473

S1 - 28386                                                                  R1-28610

S2 -28249                                                                   R2-28697

SILVER

P. POINT-41432

S1 - 41239                                                                 R1-41564

S2 - 41107                                                                 R2-41757

COPPER

P. POINT-399.2

S1- 403.8                                                                    R1-393.5

S2- 408.5                                                                    R2-388.9

NATURAL GAS

P. POINT-222.7

S1 -225.6                                                                    R1-217.4

S2 -230.9                                                                    R2-214.5

CRUDE OIL

P. POINT-3596

S1 -3627                                                                     R1-3551

S2 -3672                                                                     R2-3520

What strategy should be made in Commodity market today? Today Commodity Market update Report 10 January 2017.

COMMODITY MARKET OUTLOOK

Gold gained as markets reassessed the outlook for the U.S. economy after Donald Trump is inaugurated as president later this month.

Silver gained as dollar dropped and as the precious metal continued to recover from its selloff into the end of last year.

Crude oil dropped as indications of increased drilling activity in U.S. offset signs OPEC members are adhering to planned output cuts.

Copper prices ended with small losses as market activity was subdued as many Western traders were still away on holiday.

Zinc rose as the dollar fell and on expectations of a continued shortage in supply for the metal used to galvanise steel.

Nickel prices gained as support seen after the update that Nickel ore inventories at seven major Chinese ports kept Spices dropping.

Natural gas prices continuous to sank hitting 1 month low due to warmer-than-normal weather for this time of the year.

Commodity Market update:-

GOLD

PP-27991

R1- 28141                                   S1-27902

R2- 28230                                   S2-27752

SILVER

PP-40563

R1- 40904                                   S1-40346

R2- 41121                                   S2-40005

CRUDE OIL

PP-3604

R1- 3644                                       S1-3534

R2- 3714                                       S2-3494

NATURAL GAS

PP-216.3

R1- 220.3                                        S1-208.5

R2- 228.5                                        S2-204.3

COPPER

PP-382.6

R1- 385.1                                         S1-380.5

R2- 387.2                                         S2-378.0

CRUDE OIL SILPS GOLD PRICES ABOVE 1175 DOLLARS | COMMODITY MARKET NEWS UPDATE 09 JANUARY 2017.

COMMODITY MARKET NEWS

Gold dropped as the dollar strengthened lifted by U.S. non-farm payrolls data that showed a slowing in hiring last month but an increase in wages.
 Base Metal Silver dropped as strength in the U.S. dollar and equities in the wake of the monthly domestic jobs report dulled investment demand for the precious metal.
Crude oil gained as output cuts by OPEC members met with lingering concern that other producers could try to shirk their share of planned decreases.
Copper prices ended with gains as investors squared positions after a strong U.S. payrolls report.
Zinc prices recovered from lows despite of stronger dollar in the wake of strong manufacturing data from China.
Nickel steadied as investors squared positions after a strong U.S. payrolls report, even as they kept an eye on a Spices stronger dollar.
Natural gas gains recovering some of its losses on short covering after prices dropped in the week as mild weather replaced predictions of severe cold.

Commodity Market update:-

GOLD

PP-27898

R1- 27971                                   S1-27813

R2- 28056                                   S2-27740

SILVER

PP-40194

R1- 40685                                   S1-39850

R2- 41029                                   S2-39359

CRUDE OIL

PP-3672

R1- 3709                                       S1-3644

R2- 3737                                       S2-3607

NATURAL GAS

PP-223.7

R1- 228.3                                        S1-219.6

R2- 232.4                                        S2-215.0

COPPER

PP-382.0

R1- 385.6                                         S1-380.0

R2- 387.6                                         S2-376.4

GOLD ENDS LOWER AFTER JOBS COMMODITY MARKET REPORT 07 JANUARY 2017.

Commodity Market News

wake of the monthly domestic jobs report dulled investment demand for the precious metal.

Prices, however, gained for the week, buoyed by uncertainty surrounding the pace of interest-rate increases by the Federal Reserve.

February gold GCG7, -0.71% fell $7.90, or 0.7%, to settle at $1,173.40 an ounce, after notching its highest settlement in five weeks on Thursday. Expectations about the pace of rate increases—a negative for gold that doesn’t offer a yield—has cooled somewhat. For the week, the yellow metal tallied a 1.8% gain, according to Fact Set data.

Meanwhile, March silver SIH7, -0.73% was off 11.8 cents, or 0.7%, at $16.519 an ounce, paring its weekly rise to roughly 3.3%. March copper HGH7, +0.26% added less than a cent to $2.546 a pound—up about 1.6% for the week.

The Labor Department reported that 156,000 jobs were added in December to cap off the sixth straight year in which the economy created more than 2 million new jobs. Economists polled by Market Watch had predicted a 180,000 increase in new nonfarm jobs. The unemployment rate rose to 4.7% from 4.6%.

SURGE IN CRUDE, GOLD 4 WEEK AT THE HIGHEST LEVEL | TODAY COMMODITY MARKET LEVEL & NEWS UPDATE 05 JANUARY 2017.

COMMODITY MARKET OUTLOOK

MCX Gold prices have been trading in rising channel formation and prices have been facing resistance 27830 levels. In addition, COMEX Gold prices have been facing resistance of its horizontal trend line at $1168 levels on hourly chart. Moreover, Momentum Indicator RSI have shown negative divergence on 4 hourly chart, which gives the sign of bearishness in the prices. For now we expect prices should move lower towards 27350 levels in the coming trading sessions.

MCX Silver price has faced resistance of its falling trend line at 40400 levels on hourly chart. On the other hand, MCX Silver price has completed bearish AB=CD harmonic pattern at 40570 levels on hourly chart. In addition, momentum indicator MACD has given negative crossover on hourly chart, which indicates lack of strength in the prices. For now we expect prices to move lower towards 39250 levels in few trading sessions

MCX Copper price has been trading in falling channel pattern and prices have been hovering around its resistance of its upper band of channel pattern at 386 levels on daily chart. In addition MCX Copper prices are trading below its 21 HEMA. Furthermore, momentum indicator MACD has remained below signal line on daily time frame, which suggest further down side momentum can be seen. For now we expect prices to move lower towards 374 levels in coming trading sessions.

MCX Crude Oil prices have given breakdown of its rising trend line at 3610 levels on 4 hourly charts. MCX Crude Oil is trading below its 50 HEMA on hourly chart. On the other hand, NYMEX WTI Crude oil price has shown breakdown of its rising trend line at $54 levels. Moreover, Momentum indicator MACD has shown negative crossover and moving below its signal line on 4 hourly chart which suggest negative movement in the prices. For now we expect prices to move lower towards 3470 levels in coming trading sessions.

Commodity Market update:-

GOLD

PP-27711

R1- 28150                                   S1-27607

R2- 28350                                   S2-27554

SILVER

PP-40085

R1- 40359                                   S1-39826

R2- 40618                                   S2-39552

CRUDE OIL

PP-3590

R1- 3623                                       S1-3563

R2- 3650                                       S2-3530

NATURAL GAS

PP-225.0

R1- 227.5                                        S1-220.6

R2- 231.9                                        S2-218.1

COPPER

PP-382.1

R1- 387.4                                         S1-378.8

R2- 390.7                                         S2-373.5

IN INTERNATIONAL MARKETS, THE DOLLAR WAS BATTERED BY STRONG CRUDE | COMMODITY MARKET UPDATE 04 JANUARY 2017.

COMMODITY MARKET OUTLOOK

 MCX Gold price has given breakout of its rectangle pattern at 27420 levels and price has retested its breakout trend line at 27420 levels. In addition, prices have been trading above its 50 HEMA. Moreover, Momentum Indicator RSI have been moving above 60 levels, which gives the sign of bullishness in the prices. For now we expect prices should move higher towards 28100 levels in the coming trading sessions.

 MCX Silver price has been trading in its falling wedge pattern and prices have been taking support of its lower band of pattern at 38500 levels. On the other hand, prices COMEX Silver prices have been taking support of its horizontal trend line at $15.85 levels on hourly chart. In addition, momentum indicator MACD has given positive crossover on hourly chart, which indicates strength in the prices. For now we expect prices to move higher towards 41400 levels in few trading sessions.

MCX Copper price has been trading in falling channel pattern and prices have been hovering around its resistance of its upper band of channel pattern at 382 levels on 4 hourly chart. In addition MCX Copper prices are trading below its 100 HEMA. Furthermore, momentum indicator CCI has faced resistance of its falling trend line at +157 levels on 4 hourly time frames, which suggest further down side momentum can be seen. For now we expect prices to move lower towards 367 levels in coming trading sessions.

MCX Crude Oil prices have given breakdown of its rising trend line at 3665 levels on hourly chart. MCX Crude Oil is trading below its 21 HEMA on hourly chart. On the other hand, NYMEX WTI Crude oil price has shown breakdown of its rising trend line at $54.10 levels. Moreover, Momentum indicator MACD is trading moving below its signal line levels on hourly chart which suggest the negative movement in the prices. For now we expect prices to move lower towards 3500 levels in coming trading sessions.

Commodity Market update:-

GOLD

PP-26643

R1- 28150                                   S1-25537

R2- 28350                                   S2-23343

SILVER

PP-40079

R1- 40907                                   S1-39591

R2- 41395                                   S2-38763

CRUDE OIL

PP-3672

R1- 3728                                       S1-3563

R2- 3837                                       S2-3507

NATURAL GAS

PP-235.7

R1- 242.8                                        S1-221.8

R2- 256.6                                        S2-214.9

COPPER

PP-379.1

R1- 382.1                                         S1-374.0

R2- 387.2                                         S2-371.0

IN INTERNATIONAL MARKETS,CRUDE CLIMBED DULL GOLD | TODAY COMMODITY MARKET REPORT UPDATE 3 JAN 2017.

COMMODITY MARKET OUTLOOK

Gold prices ended with gains in thin holiday mood trade despite pressure from a strong dollar.

Base Metal Silver prices ended with gains on the first trading session of the year tracking gold prices and crude oil prices.

Crude oil gained buoyed by hopes that a deal between OPEC and non-OPEC members to cut production will be effective in draining the global supply glut.

Copper gains with sentiments slowly improving as increased in demand from China will leave the market tighter than previously expected.

Zinc prices gained as investors are positive on China and U.S. demand.

Nickel gained while upside remains capped as worries of weakening demand receded with expectations that consumption will be strong

Natural gas dropped as prices witnessed fresh selling after prices rose last month as demand for natural gas was nearly four times higher.

Commodity Market update:-

GOLD

PP-27524

R1- 27647                                   S1-27448

R2- 27723                                   S2-27325

SILVER

PP-39173

R1- 39339                                    S1-38971

R2- 39541                                    S2-38805

CRUDE OIL

PP-3682

R1- 3701                                       S1-3666

R2- 3717                                       S2-3647

NATURAL GAS

PP-252.0

R1- 253.4                                        S1-249.8

R2- 255.6                                        S2-248.4

COPPER

PP-378.1

R1- 380.2                                         S1-376.2

R2- 382.1                                         S2-374.1

GOLD, SILVER TRADE FLAT WITH MARGINAL GAINS | TODAY COMMODITY MARKET NEWS REPORT 02 JANUARY 2017.

COMMODITY MARKET NEWS
Gold and silver were trading flat with marginal gains in early trade on the first day of Calendar 2017 due to lack of global cues amid subdued buying by jewellers, investors and industries.

The yellow metal was trading 0.20 per cent, or Rs 56, higher at Rs 27,501 per 10 gm at around 10.30 am (IST), while the white metal was trading 0.26 per cent, or Rs 103, higher at Rs 39,152 per 1 kg on the Multi Commodity Exchange (MCX).

SMC Investment and Advisors in a research note said, “Gold can move in the Rs 27,300-27,500 per 10 gm range while silver can move in the Rs 38,700-39,400 range in the near term.”

Gold prices eased on Friday as gains from a weak dollar was offset by profit taking at the end of a year in which bullion gained about more than 8 per cent, snapping three years of declines.