TODAY COMMODITY MARKET LEVEL ( SUPPORT&RESISTANCE) REPORT 16 NOV 2016.

COMMODITY MARKET OUTLOOK

Gold sentiments dropped as markets are now anticipating a hike in U.S. interest rates in December.

Base Metal Silver prices recovered on short covering amid uncertainty over the economic policies of U.S. President-elect Donald Trump.

Crude oil jumped on expectations that OPEC will agree later this month to cut production to reduce a supply glut.

Copper dropped as traders cashed in gains after last week's dramatic price spikes supported by Trump's U.S. presidential election victory.

Zinc dropped tracking copper prices on profit booking after gaining earlier on expectations of a pick-up in Chinese demand for steel alloys.

Nickel ended with nominal losses after a rally fuelled by Donald Trump's victory in the U.S. presidential election.

Natural gas prices dropped as dismal seasonal demand outweighed optimism from normalizing weather forecasts.

                                                                    Commodity market tips

Commodity Market update:-

GOLD

PP-29367

R1- 29511                                    S1-29176

R2- 29702                                    S2-29032

SILVER

PP-41255

R1- 41743                                    S1-40920

R2- 42078                                    S2-40432

CRUDE OIL

PP-3038

R1- 3131                                     S1-2991

R2- 3178                                     S2-2898

NATURAL GAS

PP-188.1

R1- 190.5                                    S1-184.3

R2- 194.3                                    S2-181.9

COPPER

PP-372.3

R1- 381.4                                    S1-365.6

R2- 388.1                                    S2-356.5