COMMODITY MARKET SUPPORT AND RESISTANCE LEVEL UPDATE REPORT 31 JANUARY 2017.

COMMODITY MARKET OUTLOOK

Gold prices edged up on a weaker dollar and as uncertainty over U.S. policy under President Donald Trump stoked safe-haven demand.

 Base Metal Silver dropped after prices seen supported earlier as political uncertainty created by U.S. President’s move to ban people from seven Muslim-majority countries.

Crude oil dropped as news of another weekly increase in U.S. drilling activity spread concern over rising output.

Copper prices dropped as optimism over U.S. President Donald Trump's capacity to drive economic growth faded.

 Zinc gained as prices remained supported underpinned by supply concerns and a softer dollar.

Nickel gained as some buying return as investors judged the recent selloff over the reversal of the Indonesian export Spices ban overdone.

Natural gas dropped to test 220 level following a warmer than normal forecast by the NOAA.

COMMODITY MARKET LEVELS:-

GOLD

P. POINT- 28473

S1 - 28386                                                                  R1-28610

S2 -28249                                                                   R2-28697

SILVER

P. POINT-41432

S1 - 41239                                                                 R1-41564

S2 - 41107                                                                 R2-41757

COPPER

P. POINT-399.2

S1- 403.8                                                                    R1-393.5

S2- 408.5                                                                    R2-388.9

NATURAL GAS

P. POINT-222.7

S1 -225.6                                                                    R1-217.4

S2 -230.9                                                                    R2-214.5

CRUDE OIL

P. POINT-3596

S1 -3627                                                                     R1-3551

S2 -3672                                                                     R2-3520