27842 -
Market Outlook COMDEX
Gold prices edged higher on Wednesday, extending gains into a
third-straight session, as investors awaited comments from Federal
Reserve Chair Janet Yellen for fresh cues on policy direction. Oil
rose above $48 a barrel on Wednesday in response to a fall in U.S.
fuel inventories and a cut in the U.S. government's forecast for
crude output next year which raised hopes that a supply glut is
easing. Base metals prices are on the rise again today, the spell of
weakness seen last week seems to have passed. Zinc is leading
the advance with prices pushing up to levels not seen since March, Market Updates
copper prices have gapped higher and the rest look well placed to MCX Date Date % Chg
rebound. 11-07-17 12-07-
17
Fundamental News GOLD 27834 27842 +0.03%
The sell-off in the precious metals prices also seems to have run SILVER 36771 36974 +0.55%
COPPER 382.60 383.40 +0.21%
their course, with underlying tails on recent days candlesticks
CRUDE 2912 2954 +1.44%
suggesting dip buying interest.
ALUMINIUM 122.15 121.25 -0.74%
LEAD 148.50 148.65 +0.10%
World demand for OPEC's crude will decline next year as U.S. NICKEL 593 592.30 -0.12%
shale producers and other rivals pump more, OPEC said on ZINC 182.40 181.65 -0.41%
Wednesday, suggesting the oil market will see a surplus in 2018 NATURALGAS 196.80 192.10 -2.39%
despite an OPEC-led output cut. COMEX Date Date % Chg
11-07-17 12-07-17
GOLD 1214.70 1219.24 +0.37%
Important Data SILVER 15.745 15.910 +1.05%
Time Currenc Event Forecast Previous CRUDE 45.04 45.76 +1.60%
COPPER 2.672 2.683 +0.41%
y
$ INDEX 95.49 95.48 -0.01%
USDINR 64.7175 64.6750 -0.07%
6:00pm CAD NHPI m/m 0.3% 0.8%
6:00pm USD PPI m/m 0.0% 0.0% OUR PREVIOUS CALLS UPDATE
Intraday super star
Unemployment Date Commodity Entry Exit P/L
6:00pm USD 245K 248K
Claims 12/0 CRUDE 2930 2990 +6000
7
6:00pm USD Core PPI m/m 0.2% 0.3% Multibagger
Date Commodity Entry Exit P/L
Fed Chair Yellen 12/0 COPPER 383 385.75 +2750
7:30pm USD 7
Testifies
Trifid special
Date Commodity Entry Exit P/L
8:00pm USD Natural Gas Storage 59B 72B
12/0 ZINC 183 185 +1000
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Gold and Silver
PIVOT
LME INVENTORY
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Due to Summer
COMMODITIES Bank Holiday NO LME
6/07/2017 DATA TODAY
7/07/2017 10/07/2017 11/07/2017 12/07/2017
GUARSEED
Guarseed showed bearish movement and found the
important support level of 3325. If prices sustains
below 3300 level in next trading session then this
momentum can take prices to 3250 level. If it breaks
the resistance level of 3400 then 3450 will act as
next resistance level.
PIVOTS S1 S2 R1 R2
JEERA
Jeera showed bullish movement today and found
the support level of 19200. If prices sustain below
18800 levels in next trading session then this
momentum can take prices to 18500 levels. If it
breaks the resistance level of 19200 then 19500 will
act as next resistance level.
PIVOTS S1 S2 R1 R2
SOYABEAN
Soyabean showed bearish movement and found the
important support level of 3000. If prices sustain
below 3000 level in next trading session then this
bearish momentum can take prices to 2950 level. If
it breaks the resistance level of 3050 then 3080 will
act as next resistance level.
PIVOTS S1 S2 R1 R2
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