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Friday, 11 March 2016

DAILY COMMODITY MARKET NEWS & LEVELS- 11 Mar 2016


Best Commodity Tips

BULLION:
Gold prices dipped in Asia on Friday as investors looked ahead to a weekend suite of data from China and attempted to untangle the mixed remarks from the ECB chief on the scope for further easing. At the weekend, China will report data on industrial production and retail sales. On the Comex division of the New York Mercantile Exchange, gold for April delivery traded down 0.13% to $1,271.10 a troy ounce.

BASE METAL:
LME copper is predicted to move in a tight range of USD 4,870-4,930/mt during Asian trading hours Friday. Base metals prices should stay weak on Friday with diverging trend intensifying. Eyes will be on movement in Chinese stock market, Germany’s final annualized CPI for February and US annualized import price index for February. US February annualized import price index has extended gains since September 2015, confirming to performance of the country’s annualized CPI.

ENERGY:
Oil prices jumped on Friday supported by fresh investment and a strong yuan, which makes fuel cheaper for Chinese importers, but analysts warned that any price rally was pre-mature as a global glut remained in place. Friday's stronger prices came following losses the previous day after a meeting between major producers to coordinate a freeze in output looked unlikely to even take place since Iran would not commit to attending.

BULLION COMMODITY MARKER LEVEL- 

CS GOLD (APRIL) OVERVIEW:
TREND :SIDEWAYS
RESIST 2: 30100
RESIST 1: 29980
SUP 1: 29520
SUP 2: 29320
STRATEGY:BUY ON DIPS

CS SILVER (MAY) OVERVIEW:
TREND :BEARISH
RESIST 2: 38300
RESIST 1: 38000
SUP1: 37130
SUP2: 36720
STRATEGY :SELL ON RISE

CS CRUDE OIL (MARCH) OVERVIEW:
TREND :BULLISH
RESIST 2:2690
RESIST 1:2650
SUP1:2560
SUP2:2510
STRATEGY:BUY ON DIPS

CS NATURAL GAS (MARCH) OVERVIEW:
TREND :BULLISH
RESIST 2:126
RESIST 1:124
SUP1:117
SUP2:115
STRATEGY:BUY ON DIPS
CS COPPER (APRIL) OVERVIEW:
TREND :BEARISH
RESIST 2:339
RESIST 1:336
SUP1:332
SUP2:330
STRATEGY:SELL ON RISE

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