MARKET OUTLOOK OF COMMODITY 14 JAN 2016

YESTERDAY SILVER HIT FIRST TGT 33400 !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

“BUY CRUDE ABOVE 2060 TG 2099,2135 SL 2030”

Gold: Gold prices have managed to rebound from its support around 25500 levels. Momentum above 26000 will see prices re-test its recent swing highs at 26123 levels. The counter is likely to face resistance as prices approach 26100 areas. Weakness below 25790 will push prices lower towards 25550/25500 levels.

Silver: Silver moved higher once prices broke above its resistance at 33650 levels yesterday. Sustenance above 33900 on dips will see prices rally further towards 34400/34531 levels. A daily close above 34600 will open upside targets of 35140/35359 levels. Weakness below 33900 will push prices lower towards 33550/33400 levels again.

Lead: Failure to break below 108.30 on dips will see Lead prices rebound higher towards 111.50 levels. Sustenance below this support will push prices lower towards 107/106.80 levels again. The correction will resume only once prices break below 106.80 levels. Until then the counter will consolidate between 107—112 levels.

 Nickel: Nickel needs to sustain above 565 to rally towards 573.50/579 areas. Failure to sustain above this resistance will see prices lip towards 558/550 levels. Major support for the counter is seen at 542.40 levels.

Aluminum: Momentum above 99.45 will see Aluminum prices rally towards next resistance around 100.45 levels. A daily close around 100.45 levels will open upside targets of 101.50/102.15 levels in the counter. Intraday dips will find support around 98.75—98.5 zones. Major support is place at 97.6.