TODAY COMMODITY MARKET SUPPORT AND RESISTANCE LEVEL UPDATE 17 NOV 2016.

COMMODITY MARKET OUTLOOK

Gold steadied with investors showing concern over the impact of the potential economic policies of U.S. president-elect Donald Trump.

Base Metal Silver prices dropped amid mounting expectations that the Federal Reserve will hike interest rates next month.

Crude oil prices gained after Russian energy minister said Russia ready to support OPEC decision on output freeze.

Copper slid as the dollar strengthened, easing after last week hitting its highest in over a year.

Zinc dropped pressured by a strong dollar, losses in steel-related products and the unwinding by speculators of very long positions.

Nickel bucked the weak trend tracking firmness in LME prices settling at $11,300 despite of weakness in other base metals counter

Natural gas edged higher as market players looked ahead to fresh weekly information on U.S. gas inventories to gauge the strength of demand.

Commodity Market update:-

GOLD

PP-29380

R1- 29445                                    S1-29319

R2- 29506                                    S2-29254

SILVER

PP-41313

R1- 41562                                    S1-40989

R2- 41886                                    S2-40740

CRUDE OIL

PP-3116

R1- 3162                                      S1-3077

R2- 3201                                      S2-3031

NATURAL GAS

PP-186.5

R1- 190.6                                    S1-183.6

R2- 193.5                                    S2-179.5

COPPER

PP-371.2

R1- 375.6                                    S1-365.6

R2- 381.2                                    S2-361.2