MARKET OUTLOOK OF COMMODITY 04 JAN 2015

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Gold: Momentum from current levels will push Gold prices higher towards 25415 areas. A daily close above 25415 will open upside targets of 25535/25640 levels for Gold. Intraday view for the counter will turn negative only if prices start to trade below 25090 levels. Sustenance below this level will push prices lower towards 24930/24880 levels again.

Silver: Silver is trading up with a gain of close to 1% currently. Prices should test its immediate resistance around 33800—33850 levels. Failure to sustain between these areas will trigger a correction towards 33450/33350 zones. A daily close above 33850 will open upside targets of 34088/34300 levels for the counter.

Nickel: Nickel has immediate support around 570 levels. Failure to decisively break below this level will see prices take support between 575—570 zones and bounce higher towards 582/588 levels again. A daily close below 570 will see prices slip towards 562.20/558.8 levels.
Aluminum: Aluminum will correct further if prices sustain below 99.60 levels. Prices can test its support areas between 98—97.60 zones. Intraday view for the counter will be negative until prices trade below 100.30 levels. A break above this level will help the counter rebound towards 101.20/101.50 levels