1. 21st Nov’14 Aaj Ka Trend
Bullions MCX Gold Dec Daily Chart
Technical View: Prices moved in the range while prices have formed small candle on daily timeframe. We continue to mention that as long as previous resistance of 61.8% retracement level (26750) of the previous down move is capped on higher side outlook remains neutral to bearish. COMEX Gold has crucial resistance at 1217$ levels below which prices would remain under pressure. MCX Silver Dec Daily Chart
Technical View: Prices gave a gap down opening and moved lower achieving out targets. On daily timeframe prices have formed doji which indicates indecision in trend. We now suggest as long as 36600 on higher side and 35450 remains crucial range for prices which allow sell near higher levels and buy near lower levels.
2. 21st Nov’14 Aaj Ka Trend
Fundamental News:
• Gold futures maintain losses after U.S. CPI, jobless claims data.
• Gold prices remained lower on Thursday, after data showed that the number of Americans filing new claims for unemployment benefits fell less than expected last week and that consumer prices were unchanged in October.
• On the Comex division of the New York Mercantile Exchange, gold futures for December delivery lost $1.60, or 0.13%, to trade at $1,192.30 a troy ounce during U.S. morning hours.
Pivot Levels for the Day:
S1
S2
S3
Pivot
R1
R2
R3
Gold
26347
26231
25980
26482
26598
26733
26984
Silver
35584
35349
34831
35867
36102
36385
36903
Recommendation:
Gold
Neutral to negative
Silver
Neutral
3. 21st Nov’14 Aaj Ka Trend
Base Metals MCX Copper Nov Hourly Chart
Technical Views: Prices gave a gap down opening and drifted lower however prices have taken support near the lower band of the consolidation and moved higher in the second half of the trading session. We now expect prices could head towards higher side in order to test higher band of the consolidation. 410 remains support for the test of 418 while break below 410 can drift prices towards 408/406 levels.
MCX Aluminum Nov Hourly Chart
MCX Lead Nov Hourly Chart
MCX Nickel Nov Daily Chart
MCX Zinc Nov Hourly Chart
4. 21st Nov’14 Aaj Ka Trend
Fundamental News:
• Copper futures lower after China factory activity stalls.
• Copper futures edged lower on Thursday, in the wake of disappointing economic signals from China, where data showed manufacturing activity hit a six-month low in November.
• On the Comex division of the New York Mercantile Exchange, copper for December delivery declined 1.5 cents, or 0.48% to trade at $3.031 a pound during European morning hours.
Pivot Levels for the Day:
S1
S2
S3
Pivot
R1
R2
R3
Copper
409.9
407.3
401.3
413.2
415.9
419.2
425.1
Aluminum
125.5
124.5
122.9
126.1
127.1
127.7
129.3
Lead
125.3
124.6
123.4
125.8
126.5
127.0
128.2
Nickel
996.1
985.7
964.9
1006.5
1016.9
1027.3
1048.1
Zinc
138.5
138.1
137.0
139.2
139.6
140.3
141.4
Recommendation:
Copper
Buy
Aluminum
Buy
Lead
Buy above 126.40
Nickel
Buy on dips
Zinc
Buy above 139.50
5. 21st Nov’14 Aaj Ka Trend
Energy MCX Crude Dec Hourly Chart:
Technical Views: Prices gave a gap up opening and inched lower but in the second half of the trading session prices moved higher. We expect 4715 remains crucial resistance level above which prices can test 4760/4800 levels while lower side remains protected at 4622 levels. MCX Natural Gas Nov Hourly Chart:
Technical Views: As expected prices have failed to breach the resistance of 278 and drifted lower and have broken the uptrend line while the momentum indicator, RSI has gone below 40 levels which suggest weakness in prices. We expect as long as 270 levels are capped on higher side prices can test 260 levels.
6. 21st Nov’14 Aaj Ka Trend
Fundamental News: .
• WTI oil futures hit session highs after Philly Fed data.
• West Texas Intermediate oil prices rose to the highest levels of the session on Thursday, after data showed that manufacturing activity in the Philadelphia-region expanded at the fastest rate since December 1993 in November.
• On the New York Mercantile Exchange, crude oil for delivery in January tacked on 67 cents, or 0.9%, to trade at $75.17 a barrel.
• Natural gas futures Slips after storage data.
• Natural gas futures rose to the highest levels of the session on Thursday, after data showed that U.S. natural gas supplies fell more than forecast last week but failed to sustain the gains
Pivot Levels for the Day:
S1
S2
S3
Pivot
R1
R2
R3
Crude
4637
4595
4519
4671
4713
4747
4823
Natural Gas
192.1
220.7
205.9
235.5
206.9
250.3
265.1
Recommendation:
Crude
Buy
Natural Gas
Sell
8. 21st Nov’14 Aaj Ka Trend
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