MARKET OUTLOOK OF CRUDEOIL FOR 29 JULY 2016

CRUDEOIL: MCX Crude Oil prices have been taken support of lower band of Falling channel formation on hourly chart. In Addition, NYMEX Crude oil prices observed positive divergence in hourly chart. Moreover, Momentum indicator RSI is trading in oversold zone 30 on hourly chart. For now we expect prices to move higher towards 2840 levels in coming trading sessions.

	R2	R1	S1		S2	TREND
CRUDEOIL	2869	2825	2758		2735	SIDEWAYS

Oil prices settled down nearly 2 percent on Thursday, hitting April lows and with U.S. crude headed for its biggest monthly loss in a year, on growing worries that the world was pumping more crude than needed. Surplus barrels of gasoline already have made the glut

MARKET OUTLOOK OF BULLION FOR 28 JULY 2016

Gold:  Weakness below 30780 will push Aug. Gold prices lower towards 30700/30669 levels. A break below 30669 will extend the correction towards major support around 30500 levels. A reversal in trend is likely to take place only on a breakout above 31200. Until then, intraday rallies will face resistance between 31050/31200 zones.

	R2	R1	S1		S2	TREND
GOLD	31300	31250	31150		31050	SIDEWAYS

Silver:  Weakness from current levels will push Silver prices lower towards support between 45850—45600 zones. The correction will extend further only on a decisive breakdown below 45600. Immediate resistance for the counter is seen around 46650 levels. A range breakout will take place once prices show momentum above 47000 levels.

	R2	R1	S1		S2	TREND
SILVER	48150	48090	47690		47550	SIDEWAYS

GOLD LEVELS FOR 27 JULY 2016

Technical View:  Gold rose on Tuesday as the dollar fell, but remained hemmed into a range at the start of a two-day U.S. Federal Reserve policy meeting which is being closely watched for clues on the outlook for U.S. interest rates. The Fed is expected to keep interest rates unchanged this week, deferring any possible increase until September or December, as policymakers hold out for more evidence of a pickup in inflation. U.S. data released on Tuesday was strong, with consumer confidence steady in July and new single-family home sales at the highest in nearly 8-1/2 years in June.

	S2	S1	R1		R2	TREND
SILVER	30700	30800	30950		31020	SIDEWAYS

Outlook: We expect gold prices to trade negative on the back of the chance of U.S. monetary policy being tightened before the end of the year.  

GOLD LEVELS FOR 26 JULY 2016

Technical View:  

MCX Gold prices have been trading above its horizontal trend line support on hourly basis. On the other hand, prices have been trading above its 21 HEMA which indicates positive confirmation to the prices. Furthermore, COMEX Gold prices have witnessed Bullish Piercing candle stick pattern on daily basis. Moreover, Momentum Indicator RSI is trading above 50 levels on hourly time frame. For now we expect prices should move higher towards 31300 levels in the coming trading sessions.

	S2	S1	R1		R2	TREND
SILVER	31300	31000	30900		30700	SIDEWAYS

With a correction of more than 2 weeks, gold prices are close to hitting the technical support zone, however the key to any recovery will be the monetary policies meets of the US Fed and

GOLD LEVELS FOR 25 JULY 2016

GOLD : TODAY, Gold fell further by Rs 70 to Rs 30,680 per ten grams at the bullion market today, tracking a weak trend overseas amid slackened demand from jewellers at domestic spot market. In the national capital, gold of 99.9 and 99.5 per cent purity declined by Rs 70 each to Rs 30,680 and Rs 30,530 per ten grams, respectively. The precious metal had shed Rs 20 in Saturday's trade.

	S2	S1	R1		R2	TREND
SILVER	30650	30750	30930		31050	SIDEWAYS

TECHNICAL VIEW:  Gold prices fell on Friday, reflecting tension between a global backdrop of easier interest rates and the chance of U.S. monetary policy being tightened before the end of the year. Bullion has benefited significantly - hitting its highest in two years this month - as central banks from Europe to Japan keep policy looser for longer,

SILVER LEVELS FOR 25 JULY 2016

	S2	S1	R1		R2	TREND
SILVER	46000	46300	46700		47000	SIDEWAY

Technical View:  MCX Silver prices have retest its trend line resistance on hourly basis. On the other hand, MCX Silver prices have been trading below its 50 HEMA which indicates negative confirmation to the prices. Counter is trading below its super trend indicator on hourly time frame. Moreover, momentum indicator RSI is trading below 40 levels on hourly chart. For now we expect prices to move lower towards 45650 levels in few trading sessions.

Silver : Silver rose for the first time in six sessions, rising 1.9 percent to $19.75 an ounce.

Outlook : We expect Silver prices to trade sideways on the back of short covering after drop in prices

SILVER LEVELS FOR 22 JULY 2016

	S2	S1	R1		R2	TREND
SILVER	45350	45500	46100		46250	SIDEWAYS

Silver: Silver prices have recovered from its intraday lows at 45598 levels. Momentum above 46080 levels will push prices higher towards 46429 levels. On the contrary, weakness below 45800 again will push prices lower towards 45600 levels again. A daily close below 45600 will open downside targets of 45230/44601 levels for Silver. 

Oil mixed ahead of U.S. crude inventory data

	S2	S1	R1		R2	TREND
CRUDEOIL	3040	3060	3092		3100	SIDEWAYS

Oil futures were mixed in choppy trade Wednesday ahead of the release of official U.S. crude inventory data.American Petroleum Institute figures Tuesday showed a draw of 2.3 million barrels of crude in the latest week.Official Energy Information Administration (EIA) stockpile figures are due out later Wednesday.These are forecast to show a draw of 2.1 million barrels of crude in the week.Oil future gains were limited by the strength of the dollar in the wake of some upbeat U.S. economic data
.

BULLIONS & ENERGY LEVELS FOR 18 July 2016

Bullions: Gold edged lower after registering its first weekly decline after stronger CPI data and following a failed attempt to seize power in Turkey which was seen having limited impact on the global markets.

GOLD	30700	30840	31100		3150	BEARISH
SILVER	46750	47020	47600		47950	BEARISH

Energy: - Oil futures ended Friday’s session higher, as better-than-expected economic data from the U.S. and China bolstered the outlook for future energy demand. Crude prices received a further boost in post-settlement trade after news broke of an apparent military coup in Turkey.

	S2	S1	R1		R2	TREND
CRUDEOIL	3000	3040	3130		3160	SIDEWAYS