WHAT SHOULD BE THE STRATEGY IN THE COMMODITY MARKET TODAY | COMMODITY MARKET UPDATE 19 DEC 2016.

COMMODITY MARKET OUTLOOK

Gold gained as dollar and U.S. stocks dipped at the end of a volatile week highlighted by the Fed’s signal that there could be more rate hikes.

Base Metal Silver gained on short covering after prices dropped in previous session due to the higher dollar after the U.S. Federal Reserve meet.

Crude oil gained as support seen after Goldman Sachs boosted its price forecast for 2017.

Copper prices fell as rising stocks in London Metal Exchange warehouses and signs of softer demand from major consumer China.

Zinc prices dropped on profit booking triggered by a rising dollar that cast doubt over demand strength and expectations of tighter supply.

Nickel prices dropped as pressure seen on prices after update the global nickel market moved to a surplus.

Natural gas prices continued their downward slide amid a warmer temperature outlook in the coming weeks.

Commodity Market update:-

GOLD

PP-27134

R1- 27296                                   S1-27002

R2- 27428                                   S2-26840

SILVER

PP-39602

R1- 40016                                    S1-39281

R2- 40337                                    S2-38867

CRUDE OIL

PP-3488

R1- 3549                                       S1-3448

R2- 3589                                       S2-3387

NATURAL GAS

PP-230.0

R1- 233.0                                        S1-227.0

R2- 236.0                                        S2-224.0

COPPER

PP-387.1

R1- 390.2                                         S1-382.1

R2- 395.2                                         S2-379.0