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  1. 1. Commodity Evening Session<br />
  2. 2. Market cues<br />UK BRC Retail Sales Monitor y/y came at 0.7% as against the forecasted value of 0.8%.<br />UK Industrial Production (MoM) (Oct) came at as against the forecasted value of 0.3% .<br />UK Manufacturing Production (MoM) (Oct) came at as against the forecasted value of 0.3% .<br />Germany Factory orders (MoM) (Oct) came at as against the forecasted value of -4%. <br />US ABC/Washington Post Consumer Confidence (Dec 5) forecasted value of - against the previous value of -45.(22:00 GMT).<br />
  3. 3. Gold<br />Gold witnessed good open interest build up happening with rising prices which indicates towards fresh longs being created at the key support levels. We have seen a bullish continuation pattern emerging in the technical charts during last weeks trading and so the uptrend is expected to continue. <br /> COMEX prices succeeded in closing above the crucial resistance level of $1425 . This will be acting as a crucial support level during intraday trading. Any fall back to this level may reignite further buying interest in the commodity $1400 will act as a key psychological support level for the prices.<br /> $1368 which is incidentally also the 40 day MA for the commodity will act as a good support level for medium term.<br />
  4. 4. Silver<br />Silver witnessed good open interest build up happening with rise in prices which indicates fresh buying interest coming in from the key technical support levels. Technical charts indicates a bullish break out happening above the <br />$30 levels during yesterdays COMEX trading session . Markets may test the key resistance level of $30.50 in the coming days if the markets continue to witness positive open interest build up.<br />$30 will act as very good support level for short term trading. $29.50 will be the medium term support level to watch out for.<br />
  5. 5. Crude oil<br />Crude oil witnessed good buying interest coming in during the Asian trading session as it broke above the key resistance level of $89.76 . <br />Resistance levels for the commodity lies at the $90.50 level which might be the last hurdle for bulls on the journey to the $93 levels. A successful breakout above this level could see the prices testing the medium term resistance levels of $93. <br />$84.33 will act as the medium term trend line support for the commodity.<br />
  6. 6. Natural gas<br />Natural gas prices are trading above the key support levels of $4.50 which is also incidentally the key resistance for the prices during last weeks trading session. A break out with volumes above this level could see the prices testing the next resistance level of $4.75.<br /> Support for the prices lies at the $4.30 levels. A successful break down below this level could see the prices retesting the$4.19 levels. <br />RSI reading are hovering around the 62 levels ahead of the NYMEX market openings.<br />
  7. 7. Copper<br />Copper witnessed continued buying interest coming in during the Asian trading session as it broke above the key resistance level of $402, which was tested during yesterdays trading session.<br /> $410 will act the immediate resistance level to watch out for. A successful break out could see prices test $415 levels. <br />$400 will act as crucial support level for today’s trading which is also a medium term support level.<br />RSI reading is currently hovering around the 67 levels breaking above the 20 day MA.<br />

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