Thursday, 16 January 2014
BASE METAL WRAP: Copper futures declined on Thursday, as market players looked ahead to key U.S. economic data later in the day for further indications on the future course of monetary policy.
ENERGY WRAP: West Texas Intermediate crude headed for the first weekly gain since December amid speculation that U.S. unemployment and manufacturing data signaled the world’s biggest oil consumer will sustain its economic growth.
PRECIOUS METAL WRAP: Gold was set to halt three weeks of gains as speculation that the Federal Reserve will continue reducing monetary stimulus in the U.S. countered signs of increased physical demand.
GLOBAL EVENTS TO WATCH: Retail Sales m/m, Building Permits, Housing Starts, Capacity Utilization Rate, Industrial Production m/m, Prelim UoM Consumer Sentiment, Prelim UoM Inflation Expectations, JOLTS Job Openings.
ENERGY WRAP: West Texas Intermediate crude headed for the first weekly gain since December amid speculation that U.S. unemployment and manufacturing data signaled the world’s biggest oil consumer will sustain its economic growth.
PRECIOUS METAL WRAP: Gold was set to halt three weeks of gains as speculation that the Federal Reserve will continue reducing monetary stimulus in the U.S. countered signs of increased physical demand.
GLOBAL EVENTS TO WATCH: Retail Sales m/m, Building Permits, Housing Starts, Capacity Utilization Rate, Industrial Production m/m, Prelim UoM Consumer Sentiment, Prelim UoM Inflation Expectations, JOLTS Job Openings.
..........Bullion Commodity Market Update..........
CS COPPER (FEB.) OVERVIEW:
TREND CONSOLIDATE
SUP1:451
SUP2:443
RESIST1:462
RESIST2:468
TRADING STRATEGY: SELL ON RISE
CS CRUDE (JAN.) OVERVIEW:
TREND CONSOLIDATE
SUP1:5710
SUP2:5640
RESIST1:5880
RESIST2:5935
TRADING STRATEGY: BUY ON DIPS
CS GOLD (FEB.) OVERVIEW:
TREND CONSOLIDATE
SUP1:28800
SUP2:28670
RESIST1:29315
RESIST2:29640
TRADING STRATEGY: SELL ON RISE
CS SILVER (MARCH) OVERVIEW:
TREND CONSOLIDATE
SUP1:43560
SUP2:42430
RESIST1:45740
RESIST2:46700
TRADING STRATEGY: SELL ON RISE
............Agri Commodity Market Update..............
CS CHANA (FEB.) OVERVIEW:
TREND CONSOLIDATE
SUP1:3015
SUP2:2950
RESIST1:3164
RESIST2:3194
TRADING STRATEGY: BUY ON DIPS
CS JEERA (MARCH) OVERVIEW:
TREND CONSOLIDATE
SUP1:12360
SUP2:12270
RESIST1:12950
RESIST2:13540
TRADING STRATEGY: SELL ON RISE
CS TURMERIC (APRIL) OVERVIEW:
TREND CONSOLIDATE
SUP1:6510
SUP2:6370
RESIST1:6940
RESIST2:7250
TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (FEB.) OVERVIEW:
TREND CONSOLIDATE
SUP1:3600
SUP2:3530
RESIST1:3752
RESIST2:3792
TRADING STRATEGY: SELL ON RISE
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