7th January 2015 Daily Commodity Market Outlook “Every once in a while, the market does something so stupid it takes your breath away.” Good Morning!! All the traders, investors and chartist of #BullBear Device family. In the battle between Bull and Bear of this market, we wish the entire #BullBear Device App holder to another winning and profitable trading day. This Morning in International market #Gold and #Silver trading in negative zone while #energy segment also trading with negative bias and #basemetals segment trading in flat to positive zone. Now here is our Morning daily outlook of hot three commodities of the day and the outlook of #USDINR. #GOLD Gold prices eased mildly in Asia on Wednesday as investors continued to eye Greece in the euro zone and await upcoming Federal Reserve minutes for hints on the timing of an interest rate hike widely expected this year. In today’s session Gold future currently is trading around $ 1215.10 per ounce with 0.35% of loss in prices. In MCX Gold future expected to open in negative zone today. Technically on daily charts now Gold February future having a very good support level at Rs 27200 and resistance seen at Rs 27530. Intra-day traders advice to Buy Gold Feb future around Rs 27250 with stop loss of Rs 27150 and wait for the target price of Rs 27450. #CRUDE Crude oil prices reversed course slightly in Asia on Wednesday after upbeat U.S. industry supply data. In International market Crude future currently is trading at $47.86 with 0.15% of loss in prices. Technically NYMEX Crude prices having a good resistance at $50 while support seen at $45. In MCX Crude future expected to open in flat to negative zone. Technically on daily charts Crude Jan future now having a good resistance level at Rs 3110 while support at Rs 3000. Intra-day trader advice to Sell Crude Jan future around Rs 3110 with stop loss of Rs 3140 and wait for the target price of Rs 3030. #COPPER Copper held near a four-year low while aluminum languished near the weakest in seven months on fears oil’s slump signals a slowdown in economic growth and weaker commodities demand. In today’s early morning session it’s currently trading around 2.765 with 0.05% of gain in prices. In MCX, Copper future expected to open today in flat zone. Technically on Daily Charts Copper February future now having a very good support level at Rs 389 while resistance at Rs 394. Intra-day traders advice to Sell Copper Feb future below Rs 389 with strict stop loss of Rs 392 and wait for the target price of Rs 385. #USDINR In today’s early morning session Spot Indian rupee traded positive against US dollar. Currently is trading at 63.52 with 0.08% of gain. Technically on daily charts USDINR pair having a good resistance level at 63.80 and support seen at 63.30 levels. Intra-day trader advices to Buy USDINR above 63.50 with stop loss of 63.30 and wait for the target price of 63.80.
Posted on: Wed, 07 Jan 2015 05:03:23 +0000
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