MARKET OUTLOOK OF COMMODITY 15 JAN 2016

CRUDE OIL ROCKS....!!!!!!!!!!!!!!!

YESTERDAY CRUDE HIT FINAL TGT 2135 !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Gold: Gold prices couldn’t sustain at its highs at 26015 levels yesterday. Any major downside in the counter is likely only if prices breakdown below 25439 levels. Until then areas between 25600 up to 25450 will provide good support for the counter. Momentum above 26015 will push prices higher towards 26123 levels.

Silver: Silver closed down with a cut of 1.56% yesterday. Weakness below 33550 will see prices slip towards major support zones between 33325—33030 zones. The counter can witness a pullback rally towards 34000 areas. Failure to sustain at higher levels can be sold into by day tradersCrude Oil (Rs/Bbl): Jan.

Crude Oil prices couldn’t sustain at its resistance at 2145 levels yesterday. The counter has hit fresh swing low of 2007 levels. We expect prices to test next support at 1974 levels. Momentum above 2050 will trigger a sharp intraday bounce towards 2110/2130 areas. A daily close below 1974 will open downside targets of 1840/1751 levels.

Natural Gas (Rs./Mmbtu): Natural gas prices closed below its support at 146 levels yesterday. If pullback rallies fail to break above 149 then prices will slip lower towards 140.50/136.30 levels over the coming sessions. The outlook for the counter will stay negative until prices stay below 154.10 levels.