RECOVERY OF CRUDE IN THE INTERNATIONAL MARKET, GOLD FELL | COMMODITY MARKET LEVEL (SUPP. & RESIST.) UPDATES 16 DEC 2016.

COMMODITY MARKET OUTLOOK

Gold prices fell as Fed said it may need to hike rates three times in 2017 as it made a widely expected nudge up in its policy rate.

Silver dropped as the dollar surged to its highest in 14 years after the U.S. Federal Reserve raised interest rates. Crude oil dropped on the back of a broadly stronger U.S. dollar after the Federal Reserve raised interest rates for the first time in a year.

Copper remains supported despite a stronger dollar and signs of mounting supply in London Metal Exchange warehouses. Zinc rebounded to settle at 189.95 boosted by new infrastructure spending in China, as well as an emerging supply gap and a run-down of stock.

Nickel prices dropped tracking LME nickel slid 0.9 percent to $11,320 triggered by a rising dollar.

Natural gas dropped as worries about approaching warmer weather outweighed storage data that showed an unexpectedly large draw from inventories.

energy services | base metal tips

Commodity Market update:-

GOLD

PP-27107

R1- 27313                                   S1-26813

R2- 27607                                   S2-26607

SILVER

PP-39917

R1- 40714                                     S1-38497

R2- 42134                                     S2-37700

CRUDE OIL

PP-3458

R1- 3525                                       S1-3419

R2- 3564                                       S2-3352

NATURAL GAS

PP-236.0

R1- 241.4                                        S1-238.7

R2- 248.7                                        S2-223.3

COPPER

PP-391.1

R1- 395.1                                         S1-387.6

R2- 398.6                                         S2-383.6