TODAY COMMODITY MARKET TREND AND LEVELS OUTLOOK 09 MAY 2017

COMMODITY MARKET OUTLOOK

GOLD

Gold recovered on bargain-hunting after having dipped to a seven-week low earlier as safe-haven demand ebbed away.

SILVER

Silver recovered from the day's low to as markets reacted to Emmanuel Macron’s swift victory in the second round of France’s presidential election.

CRUDE OIL

Crude oil gave up its gains as the market weighed news from OPEC and other producers about prolonging output cuts against data showing the recovery in U.S. drilling.

COPPER

Copper slid after data showed a sharp drop in imports in April into China, feeding pessimism over demand following hefty inflows into LME inventories last week.

Natural gas

Natural gas dropped as traders monitored shifting weather forecasts to assess the outlook for spring demand.

COMMODITY MARKET LEVELS:-

GOLD

P. POINT- 28133

S1 -28029                                                                   R1-28195

S2 -27967                                                                   R2-28299

SILVER

P. POINT-38075

S1 - 37863                                                                 R1-38224

S2 - 37714                                                                 R2-38436

COPPER

P. POINT-356

S1- 354                                                                        R1-359

S2- 351                                                                        R2-361

NATURAL GAS

P. POINT-205

S1 -201                                                                        R1-208

S2 -197                                                                        R2-212

CRUDE OIL

P. POINT-2981

S1 -2947                                                                    R1-3014

S2 -2914                                                                    R2-3048