November 18, 2017

Commodity Outlook:

Gold:-

Gold prices wavered on Friday following the mixed U.S. payrolls report today, in turn forcing the dollar to waver and leading the precious metal to keep hovering near a three-month high. Gold’s rise yesterday to a three-month high triggered profit-taking operations today following the mixed U.S. jobs report, leading to undecided trading with both dollar and gold. From the level of 28850 there was a resistance which leads to the yellow metal week high of the level 29070. It made the resistance and we are expecting that if it sustains above 28850 resistances then it can breach to the next resistance level of 28900. We are positive for this Gold prices and it seems like 29500 levels would be tested soon.

commodity-tip

Silver:-

Silver prices kept falling on Friday for the second straight session after hitting three-month highs yesterday, triggering profit-taking operations, while wavering in the markets hurt prices further. Earlier U.S. data showed higher new jobs in January while the unemployment rate rose unexpectedly, as the dollar dithered, leading silver prices to waver as well. Despite today’s drop, prices are heading for the fifth weekly profit in a row as demand climbs on safe havens and alternative investments amid uncertainties in the markets due to U.S. president Donald Trump’s policies, which underpins the white metal.

Crude:-

Crude prices edged up ahead of the weekend after hitting a four-week high yesterday, as prices are bound in a tight range recently due to conflicting factors. Crude prices drew support from recent developments after America imposed new sanctions on Iran after experimenting with a Ballistic missile, with U.S. president Donald Trump stating that all options are available with the Iran situation.  The negative impact on crude prices on the other hand, which caused the current wavering, comes as U.S. shale production rises as U.S. inventories increase alongside oil rigs to several-month highs.

crude-oil-3

Copper:

The Copper is in long- medium- short-medium- term bull phase .Currently Copper is moving sideways The oscillator is on sell signal and Copper is coming down from overbought level .In last 1 month volatility is very less and fresh buy can be considered in the Copper if it close above 388 or buy with strict stop at 380. The oscillator is on sell signal and Copper is coming down from overbought level for short term Copper is in hold long position. Support for the Copper is 380.Resistance for the Copper is 408

Zinc :

The Zinc is in perfect uptrend .Currently Zinc is in strong uptrend and the trend is supported with good volume the open interest is not increasing with trend. Cautious point is buying at higher levels seems decreasing. The Zinc is now trading in overbought level. The oscillator is showing sell signal for short term Zinc is in hold long position. Support for the Zinc is 177. Immediate resistance for Zinc is 196

Lead:-

The Lead is in long- medium- short-medium- term bull phase .Currently Lead is moving sideways the Lead is now trading in overbought level. The oscillator is showing sell signal .In last 3 weeks Lead is trading in low volatility and fresh buy can be considered in the Lead if it close above156.45 or buy with strict stop at 149. The Lead is now trading in overbought level. The oscillator is showing SELL signal for short term Lead is in hold long position. Support for the Lead is151 .Resistance for the Lead is 161.

Nickel:-

Overall trend of the Nickel is bearish for medium-long term .Currently Nickel is in strong downtrend with good momentum but volume is unsatisfactory the open interest is not increasing with trend. Noting point is selling at lower levels seems decreasing. The oscillator is showing buy signal for short term Nickel is in sell position. Support for the Nickel is 683.Resistance for the Nickel is 702.

Aluminum:-

The Copper is in long- medium- short-medium- term bull phase .Currently Copper is moving sideways The oscillator is on sell signal and Copper is coming down from overbought level .In last 1 month volatility is very less and fresh buy can be considered in the Copper if it close above 388 or buy with strict stop at 380. The oscillator is on sell signal and Copper is coming down from overbought level for short term Copper is in hold long position. Support for the Copper is 380.Resistance for the Copper is 408

 Commodity  Trends:

  R1 S1
GOLD 29050 28100
SILVER 42180 40750
CRUDE 3710 3490
COPPER 408 380
LEAD 161 151
NICKEL 702 648
ALUMINIUM 128 122
ZINC 196 177

SEBI Register company-Star India Market Research-An investment advisor gives stock tips, equity tips, commodity tips, mcx tips, ncdex tips, agri commodity tips.

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