F

379 views

Published on

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
379
On SlideShare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

F

  1. 1. Commodity Evening Session<br />
  2. 2. What were the major economic data releases which came in during European trading session and what can be expected during US Session.?<br />· <br />UK Halifax House Prices (MoM)(Nov) came in at –0.1% as against the consensus value of 1.8%.<br />· UK Trade Balance (Oct) came in at –8.529B as against the consensus value of –8.05B.<br />· UK BoE rate is expected to be left unchanged at 0.5%.<br />· US Initial Claims is expected to drop to 425K as against the previous value of 436K. (13:30 GMT).<br />· US Wholesale Inventories expected to drop to 0.9% as against the previous value of 1.5%. (15:00 GMT)<br />
  3. 3. What are the key technical levels to watch out for COMEX trading session. Let us start with Gold?<br />Gold prices witnessed good selling interest building up after it breached the key support level of $1389 during yesterdays COMEX trading session. <br />$1389 will act as a major resistance level during today’s COMEX trading session. <br />$1370 will be the key support level to watch out for. This level gains importance from the fact that it is both a trend line support level and a 40 DMA support level.<br /> RSI is currently hovering around the 52.019 levels breaching the 20 DMA ahead of the COMEX trading session.<br />
  4. 4. Silver<br />Silver prices witnessed selling interest coming in as it breached below the $28.57 during yesterdays COMEX trading session.<br /> Silver prices are poised to test the key trend line support levels of $27.735 during COMEX trading session. <br />A successful break down with volumes could see the prices testing the next resistance level of $26.35 which is also incidentally the 40 DMA level for the prices. <br />RSI reading is currently hovering around the 57.92 levels breaching the 20 DMA ahead of the COMEX trading session.<br />
  5. 5. Crude oil<br />Crude oil have been seeing a range bound happening after it reached the resistance level of $90-91 levels on 7th December. <br />$89.82 will be the key resistance level to watch out for today’s COMEX trading session. A successful breakout with volumes could see the prices testing the next key resistance level of $91.50. <br />$87.35 will act as a good intraday support level. Its is also the trend line support level for the prices. <br />RSI reading is currently hovering around the 59.43 levels ahead of the NYMEX trading session.<br />
  6. 6. Natural gas<br />Natural gas prices have successfully broken above the key resistance level of $4.60 ahead of the NYMEX trading session.<br /> Prices have good intraday support coming in at the $4.39 levels and any fall back to this level could see the fresh longs being created as it is also a key trend line support level for the prices. <br />Good positive open interest build up could see the prices testing the key resistance of $4.673 during the NYMEX trading session. <br />RSI reading is currently hovering around the 63.629 levels ahead of the NYMEX trading session.<br />
  7. 7. Copper<br />Copper prices are hovering around the key resistance level of $413.95 ahead of the COMEX trading session.<br /> A successful break out above this level with convincing volumes could see the prices testing the next key resistance level of $418. <br /> $399 will continue to act as a psychological support level for the prices. One might see some consolidation happening between the key resistance and support levels for a couple of trading sessions. <br />$385 will continue to act as a medium term support level for the prices which is also incidentally 40 DMA support. <br /> RSI reading is currently hovering around the 66.985 levels ahead of the NYMEX trading session.<br />

×