TODAY MARKET OUTLOOK FOR COMMODITY

Gold: Gold prices are trading below its immediate support around 25300 levels. Prices can weaken towards 25190/25144 levels from here on. A daily close below 25150 will see prices re-test its recent swing lows at 24926 levels. Counter needs to breakout above 25320 levels to rebound towards 25450 areas again.

Silver: The outlook for silver will remain weak until prices trade below 33800 levels. Sustenance below 33380 will push prices lower towards 33150 levels. A sharp bounce cannot be ruled out in case prices test this support. Momentum above 33800 will help the counter rebound towards 34050/34200 zones.

Crude Oil: Dec. Crude oil prices managed to bounce from its swing lows at 2327 levels yesterday. Sustenance above 2475 will help the counter bounce further towards 2515/2540 zones. A re-test of 2327 levels will be seen only if the counter starts to trade below 2397 levels. Until then prices will trade between 2397 to 2540 zones.

Natural Gas : The view for Dec. Natural gas prices will remain negative until prices stay below 129 levels. Sustenance below 125.50 will push the counter lower towards

123.50/121.40 zones. Sustenance above 129 will trigger a pullback rally towards 131.50/132.50 levels. Copper: Copper prices are trading below its support between 314—314.50 zones currently. The intraday view for the counter will remain negative until prices stay below 315. A decisive break below 312 will see prices slip further towards 310/308.50 levels. Sustenance above 315 will help the counter rebound towards 318 levels.

Zinc: Zinc will continue to drift lower until prices stay below 103 levels. Prices can slip towards immediate support at 101/100.78 areas. Prices need to sustain above 103 to rebound towards 103.65/104.25 zones. The broader view for the counter will continue to be negative until prices stay below 107 on a closing basis.

Aluminum :  Aluminum will slide lower towards 99/98.75 areas until prices stay below 100 levels. Areas between 100.55—101 are strong supply zones for the counter. A break below 98.75 will see prices slip towards 98 levels.