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