Bullions:
Gold looked likely to extend losses to a fifth straight session on Friday as
the dollar rebounded ahead of US non-farm payrolls data. Traders also want to
cash profit on table in as key us economic data will be there. Meanwhile US
dollar index rose to 1 week high which drags the price of precious metal down.
US ECONOMIC DATA: US ADP National Employment Change @ 17:45
IST
Outlook: " BUY
GOLD ABOVE 30100 TGT 30270-30550 SL 29800"
"SELL
GOLD BELOW 29850 TGT 29710-29400 SL 30100"
|
COMMODITY
|
S2
|
S1
|
R1
|
R2
|
TREND
|
RANGE
|
|
Gold
|
29659
|
29778
|
30098
|
30299
|
SIDEWAYS
|
29800 - 30400
|
|
Silver
|
40694
|
40961
|
41717
|
42206
|
SIDEWAYS
|
40600 -41600
|
Base Metals: Copper
fell as funds took profits after manufacturing data from China undermined
confidence. A stronger U.S. currency makes dollar-denominated commodities more
expensive for non-U.S. firms; a relationship used by funds to generate buy and
sell signals from numerical models. Industrial production, investment, property
market and loans data for March has bolstered hopes of stronger demand in
China, which accounts for nearly half of global copper consumption.
|
COMMODITY
|
S2
|
S1
|
R1
|
R2
|
TREND
|
RANGE
|
|
Aluminum
|
105.57
|
106.23
|
108.13
|
109.37
|
BULLISH
|
105-109
|
|
Copper
|
314.07
|
316.48
|
323.33
|
327.77
|
BEARISH
|
315-324
|
|
Lead
|
113.77
|
114.53
|
116.73
|
118.17
|
BEARISH
|
114-118
|
|
Nickel
|
574
|
586
|
620
|
639
|
BEARISH
|
590-615
|
|
Zinc
|
121.97
|
122.93
|
125.13
|
126.37
|
BEARISH
|
122-125
|
Energy:
Crude oil rallied on concerns over
temporary supply shortage. While expectations of temporary supply disruptions,
Iran said that it was ready to join with OPEC on adopting a quota policy once
it regained the market share it had before the sanctions were imposed also
boost prices.
|
COMMODITY
|
S2
|
S1
|
R1
|
R2
|
TREND
|
RANGE
|
|
Crude
oil
|
2970
|
3000
|
3030
|
3070
|
SIDEWAYS
|
2950-3070
|
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