December 6, 2016

                                   

HIGH LIGHTS:-

Gold prices trend weaker in Asia as investors eye dollar levels.

Oil prices fall on U.S. crude inventory build, record Saudi output.

LME Copper to Move at Highs.

PRECIOUS METALS:-

Gold eased slightly in Asia on Thursday as investors booked gains and kept an eye on dollar weakness.On the Comex division of the New York Mercantile Exchange, Gold for December delivery eased 0.06% to $1,351.05 a troy ounce.Silver futures for September delivery rose 0.15% to $20.200 a troy ounce.

Overnight, gold ticked up on Wednesday, as the dollar fell sharply against a basket of rivals, helping provide a slight boost to the yellow metal in quiet, range-bound trade.

At the same time, the Labor Department’s Job Openings and Labor Turnover Survey showed there were 5.1 million hires in June, an increase of 1.7%, offset slightly by 2.9 million quits on the month.

PRECIOUS LEVEL

CS GOLD (OCT) OVERVIEW:

TREND :  BULLISH

RESIST 2: 31650

RESIST 1: 31550

SUP 1: 31170

SUP 2: 31000

CS SILVER (SEPTEMBER) OVERVIEW:

TREND :   BULLISH

RESIST 2: 48220

RESIST 1: 47650

SUP1: 46460

SUP2: 45840

BASE METALS:-

LME copper will move at highs of USD 4,780-4,840/mt during Asian trading hours Thursday.

Swing trend will continue on base metal market on Thursday with focus on China’s social financing for July and new RMB loans, and US last week’s initial jobless claims.

Housing sales in China slow further in July and falling demand for housing loans will lead to declines in new RMB loans in July. The PBOC mainly withdrew net capital from market in the month, which will also drag down total social financing.

US inflation shows sign of marked recovery, which can be reflected by the three straight month’s growth in the annualized core CPI. As such, the import price index for July will likely improve.

BASE METAL LEVELS

CS COPPER (AUGUST) OVERVIEW:

TREND : BEARISH

RESIST 2:327

RESIST 1:325

SUP1:320

SUP2:317

CS NICKEL (AUG) OVERVIEW:

TREND : SIDEWAYS

RESIST 2:733

RESIST 1:727

SUP1:714

SUP2:708

CS ZINC (AUG) OVERVIEW:

TREND : SIDEWAYS

RESIST 2:155.00

RESIST 1:154.20

SUP1:152.00

SUP2:151.00

CS LEAD (AUG) OVERVIEW: 

TREND : BULLISH

RESIST 2:124.20

RESIST 1:123.40

SUP1:121.00

SUP2:120.00

CS ALUMINIUM (AUG) OVERVIEW: 

TREND : SIDEWAYS

RESIST 2:111.10

RESIST 1:110.60

SUP1:109.00

SUP2:108.20

ENERGY LEVELS

ENERGIES:-

Oil prices fell early on Thursday as a build in U.S. crude inventories and record Saudi Arabian production weighed on markets.Oil fell sharply after data from the U.S. Energy Information Administration showed crude inventories rose 1.1 million barrels in the week ended Aug. 5. Analysts polled by Reuters had expected a 1.0 million-barrel crude draw instead.

Crude oil stocks rose 1.06 million barrels to 523.6 million barrels. The unexpected rise was driven by reduced operating rates at refineries, which fell 1.1 percent to 92.2 percent of capacity, ANZ bank said on Thursday.Bearish supply-side news also weighed on the market, with Saudi Arabia reporting a record 10.67 million barrels per day production in July, it added.

ENERGY LEVELS

CS CRUDE OIL (AUGUST) OVERVIEW:   

TREND :BEARISH

RESIST 2:2890

RESIST 1:2860

SUP1:2740

SUP2:2700

CS NATURAL GAS (AUGUST) OVERVIEW: 

TREND :BEARISH

RESIST 2:178.00

RESIST 1:176.00

SUP1:169.00

SUP2:166.00

 CAPITALSTARS

suhanisahani

Comments are closed.

NOTE : You are advised to take your position with your sense and judgment.The views and investment tips expressed by users on MCXStar.com are their own, and not that of the website or its management. MCXStar.com advises users to check with certified experts before taking any investment decisions. If any other company also giving same script and recommandation then we are not responsible for that. We have not any position in our given scripts. Visiting our web one should by agree to our terms and condition and disclaimer also. All credit goes to original authors of post on this website. Website owner is not responsible for any loss due to your own decision or judgement. Thanks for Visiting our Website.