MARKET OUTLOOK OF COMMODITY 09 FEB 2016

“SELL GOLD BELOW 28300 TGT 28100/28000”

GOLD ROCKSSSSSSSSS HIT FINAL TGT 28100 MADE HIGH OF 28516 !!!!!!!!!!!!!!!!!!!

Gold: The price of gold jumped 2 percent to a 7-1/2-month high on Monday, briefly nudging above the psychological level of $1,200 an ounce, as sliding stock markets and worries over global economic growth prompted investors to seek safety. Some recent weak economic data, particularly from the United States and China, has led financial markets to expect there will be fewer U.S. rate hikes this year than the four they had been pricing in a few weeks ago, perhaps only one. Lower rates cut the opportunity cost of holding gold, which earns no yield but costs to store and insure. Hedge funds and money managers boosted their bullish bet in COMEX gold to a three-month high in the week to Feb. 2, data showed on Friday. Gold prices are now trading between strong resistance between 27400 up to 27850 zones. Failure to sustain between these levels will trigger a sharp correction in the counter.

MARKET OUTLOOK OF COMMODITY 08 FEB 2016

“BUY GOLD ABOVE 27850 TGT 27950/28100”

Gold:  Gold rose to a three-month high in volatile trade on Friday, as a mixed U.S. jobs report prompted investors to reassess the outlook for U.S. interest rates this year, putting bullion on track for its strongest weekly performance in more than a year. U.S. employment gains slowed more than expected in January as the boost to hiring from unseasonably mild weather faded, but rising wages and an unemployment rate at an eight-year low suggested the labor market recovery remains firm. As a non-interest bearing asset, dollar-denominated gold becomes less attractive if U.S. interest rates rise.

MARKET OUTLOOK OF CRUDEOIL 05 FEB 2016

GOLD ROCKSSSSSSSSS HIT FINAL TGT 27500 !!!!!!!!!!!!!!!!!!!

Crude Oil fell 2 percent in volatile trading on Thursday, as support from a weakening dollar was overshadowed by scepticism that cash-strapped OPEC member Venezuela's effort to lobby crude producers for joint output cuts would succeed. The dollar extended its drop for a second day, making greenback denominated commodities cheaper for holders of other currencies, with the dollar index hitting a roughly 15-week low on continued doubts that the Federal Reserve would be able to hike interest rates this year. Speculation about possible talks between the Organization of the Petroleum Exporting Countries and other oil producers to cut output increased volatility in the oil markets. Global benchmark Brent traded above $35 a barrel earlier in the session, adding to the previous session's 7 percent jump, after an Iranian official was quoted as saying Tehran supported a meeting, raising hopes that they could take action to support prices despite widespread skepticism in the market.

MARKET OUTLOOK OF GOLD 04 FEB 2016

“BUY GOLD 27260 TG 27350,27500 SL 26100”

Gold: Gold hit three-month highs on Wednesday, buoyed by a slower U.S. services sector and sinking dollar, prompting investors to seek shelter in assets perceived as safer as future Fed rate hikes appeared less likely. U.S. services sector activity slowed to a near two-year low in January, suggesting that economic growth weakened further at the start of the first quarter. The U.S. Federal Reserve's William Dudley told MNSI that financial conditions have tightened considerably since the Fed raised interest rates in December, and if that persists policymakers would have to take that into consideration when they meet in March. This prompted the market to scale back rate hike expectations.

MARKET OUTLOOK OF SILVER 03 FEB 2016

YESTERDAY CRUDEOIL  ROCKSSSS HIT FINAL  TGT 2020

Silver: Silver prices need to sustain above 35100 levels for the counter to retest 35400 areas again. The broader prices set-up for the counter will stay positive until prices trade above 34000 levels. Immediate support is seen around 34500 below which prices will trade weak.The above is hourly chart of Silver. It suggests that prices are hovering near trend line support levels. If it breaks 34700 then it will fall further till 34225 levels. On the upside, immediate resistance is located at 35110 levels. Precious metals steadied after touching three-month highs on Tuesday, underpinned by global growth concerns and as another sharp drop in the oil price pushed investors toward safe-haven assets.

MARKET OUTLOOK OF COMMODITY 01 FEB 2016

YESTERDAY SILVER HIT FIRST TGT 34750!!!!!!!!!!

“SELL CRUDEOIL BELOW 2110 TGT 2070,2020 SL 2170”

Review:  

Crude oil prices yesterday slumped heavily seeing over production figures from the OPEC region along with slowing down of the world’s second biggest economy  As per closing basis, WTI International for March monthcontract suffered losses around 6%, registering at $31.62/bbl, whereas Brent crude oil for April month contract moved down by 5%, registering at $34.24/ bbl  MCX crude oil prices for February month contract suffered losses around Rs. 133, registering at Rs. 2153/ bbl .Crude oil prices showed massive gains last week probably due to the distillate consumption in the United States and on rumor of some production cuts by the OPEC members on technical discussion with the Russians. OPEC showed multi- decade high figures in January month after which the market became bearish and major contribution rise was from Iran, Indonesia and other smaller OPEC nations.

MARKET OUTLOOK OF COMMODITY 01 FEB 2016

“SELL SILVER BELOW 34840 TG 34750,34650 SL 35080”

Silver was up 0.4 percent at $14.28 an ounce.

Outlook : We expect silver prices to trade negative on the back of profit booking after sharp up-move in prices. Silver prices are also trading firm after China’s manufacturing data. The semi-official manufacturing PMI for January reached 49.4, missing the 49.6 level seen and remaining in contraction and the Caixin Manufacturing PMI index came in at 48.4, a bit above the expected 48.0. As well, Japan reports its manufacturing PMI, with a 52.4 level seen. The non-manufacturing PMI in China hit 53.5, down from 54.4 the previous month. For the day we expect a range bound session in silver.

Technical Outlook: Silver Mar

S2 S1 34200 34500

Close 34750

R1 R2  34900 35200