17 December 2015

MARKET OUTLOOK OF COMMODITY TODAY

YESTERDAY SELL GOLD FEB CONTRACT ALMOST HIT FINAL TGT 25110 MADE HIGH OF 25141!!!!!!!!!!!!!!!!!
“SELL GOLD FEB CONTRACT 2LOTS BELOW 25200 TG 25100,25000”
Gold: Gold prices will move lower only on a decisive break down below 25150 levels. Until then counter will take support around 25200 and rebound towards 25450/25500 levels. A decisive break down below 25150 will push prices lower towards 25000/24950 levels. A daily close above 25500 will see prices rally towards 25747/25850 levels.
Silver: Silver rallied towards 34460 levels once prices broke out above resistance at 33750. Dips will find support between 33800—33700 zones. Sustenance below 33700 will push prices lower towards 33500/33350 levels. A re-test of 34500 levels will be seen once prices start to show momentum above 34200. A daily close above 34500 will open upside targets of 35000/35370 levels.
Zinc: A decisive break below 97.90 will push Zinc prices towards next support between 96.50—96 zones. A decisive breakout above 99 will push prices higher towards 100.10/100.60 levels again. A daily close above 101 will be positive for the counter. Counter will rally towards 103.05/103.60 levels in that case.
 Lead: Lead prices can correct up to 107.60—107.15 zones. Intraday pullback rallies towards 111/111.50 levels is likely but selling can drag prices lower. We don’t expect to break below 107 levels. A sharp bounce is likely if prices enter 107.50—107.15 areas.
Thu, Dec 17 UPCOMING DATA:
COUNTRY ECONOMIC DATA CONSENSUS PREVIOUS IMPACT
2:30pm EUR German Ifo Business Climate 109.2 109 High
3:00pm UK Retail Sales m/m 0.60% -0.60% High
7:00pm US Philly Fed Manufacturing Index 2.1 1.9 High
7:00pm US Unemployment Claims 271K 282K High
7:00pm US Current Account -123B -110B Medium

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