Intraday Outlook 18.10.2012
Bullion: Bullion futures contracts extended overnight gains on domestic exchanges today tracking prices on the COMEX as easing concerns over Eurozone pushed the euro to a one month high against the dollar, in turn supporting gold. However, firm rupee in the first half of the session capped the rise in domestic bullion prices. The Indian unit declined later, but ended tad up.
Energy: Crude oil futures tumbled into negative territory Wednesday evening after the weekly oil inventory report showed a bigger-thanexpected build in oil stocks. The weekly U.S. oil inventory report was expected to show a build of 1.3 million barrels. But the report instead showed a build of 2.86 million barrels.
Metals: Base metals on the MCX moved higher tracking London Metal Exchange, where market remained cautious ahead of the release of China's third quarter gross domestic product data on Thursday. China's GDP is important for the metals market as the country is the world's largest consumer of the commodity.
LME INVENTORY
Inventory Data 18.10.2012
| Metal | Change from previous day | TREND |
| Aluminium | -9800 | UP |
| Copper | 700 | DOWN |
| Lead | -1975 | UP |
| Nickel | -804 | UP |
| Tin | 35 | DOWN |
| Zinc | 56975 | DOWN |
18.10.2012 LEVELS
|
SCRIPT
|
S4
|
S3
|
S2
|
S1
|
PP
|
R1
|
R2
|
R3
|
R4
|
|
Silver
|
59265
|
59555
|
59845
|
60135
|
60425
|
60715
|
61005
|
61295
|
61585
|
|
Gold
|
30871
|
30932
|
30993
|
31054
|
31115
|
31176
|
31237
|
31298
|
31359
|
|
Copper
|
424.4
|
427.6
|
430.82
|
434.04
|
437.3
|
440.49
|
443.72
|
446.94
|
450.17
|
|
Crude Oil
|
4741
|
4775
|
4808
|
4841.5
|
4875
|
4908.5
|
4942
|
4975.5
|
5009
|
|
Natural Gas
|
173
|
175.5
|
178
|
180.5
|
183
|
185.5
|
188
|
190.5
|
193
|
|
Nickel
|
863.5
|
873
|
882.43
|
891.88
|
901.3
|
910.78
|
920.23
|
929.68
|
939.13
|
|
Lead
|
107.3
|
108.8
|
110.33
|
111.83
|
113.3
|
114.83
|
116.33
|
117.83
|
119.33
|
|
Zinc
|
96.18
|
97.16
|
98.13
|
99.11
|
100.1
|
101.06
|
102.03
|
103.01
|
103.98
|
|
Aluminium
|
99.7
|
100.8
|
101.8
|
102.85
|
103.9
|
104.95
|
106
|
107.05
|
108.1
|
17.10.2012 LME Inventory Data
| Metal | Change from previous day |
| Aluminium | -7550 |
| Copper | 13725 |
| Lead | -3175 |
| Nickel | -588 |
| Tin | 290 |
| Zinc | -1525 |
Intraday Out Look 17.10.2012
Bullion: Gold futures ticked higher Tuesday, tracking a
retreat in the U.S. dollar on hopes that Spain was moving nearer to a bailout
request. The dollar was lower against some other major currencies Tuesday after
a Spanish official outlined some potential terms for a bailout request. Concerns
about whether Spain would ask for an international backstop for its rattled
financial system had kept pressure on currencies seen as risky in recent weeks,
sending investors into the U.S. dollar.
Energy: Crude-oil futures prices were little changed
Tuesday, awaiting direction from upcoming U.S. weekly oil-inventory data.
Market is looking for direction from widely watched U.S. weekly oil-inventory
data.
Metals: Copper futures edged higher, recovering from a
one-month low, as traders were encouraged by a weaker dollar and stronger U.S. industrial
production data. U.S. industrial output rose 0.4% in September, while capacity
utilization inched ahead to 78.3% from 78.0%
the previous month. The data beat forecasts of a 0.2% rise in output and
capacity utilization of 78.2%. Traders took the data as a positive sign of
future demand for the metal.
LME INVENTORY REPORT 16.10.2012
Last updated at 13:30 HRS.
| Metal | Change from previous day |
| Aluminium | 850 |
| Copper | -1550 |
| Lead | -1275 |
| Nickel | 2202 |
| Tin | -175 |
| Zinc | 24550 |
Special Report
Gold
Trend & Strategy
Copper Trend & Strategy
TREND
|
Consolidate
|
RESISTANCE 2
|
31540
|
RESISTANCE 1
|
31360
|
SUPPORT 1
|
30600
|
SUPPORT 2
|
30280
|
STRATEGY
|
Buy on lower Levels
|
Silver
Trend & Strategy
TREND
|
Consolidate
|
RESISTANCE 2
|
62500
|
RESISTANCE 1
|
61425
|
SUPPORT 1
|
58600
|
SUPPORT 2
|
57200
|
STRATEGY
|
Buy on
lower Levels
|
Copper Trend & Strategy
TREND
|
Consolidate
|
RESISTANCE 2
|
447
|
RESISTANCE 1
|
440
|
SUPPORT 1
|
428
|
SUPPORT 2
|
423
|
STRATEGY
|
Buy on lower level
|
Crude
Oil Trend & Strategy
TREND
|
Consolidate
|
RESISTANCE
2
|
4930
|
RESISTANCE
1
|
4882
|
SUPPORT
1
|
4750
|
SUPPORT
2
|
4708
|
STRATEGY
|
Sell on
higher Levels
|
Nickel
Trend & Strategy
TREND
|
Bearish
|
RESISTANCE
2
|
968
|
RESISTANCE
1
|
942
|
SUPPORT
1
|
870
|
SUPPORT
2
|
842
|
STRATEGY
|
Sell
on higher Levels
|
Zinc
Trend & Strategy
TREND
|
Bearish
|
RESISTANCE 2
|
106.75
|
RESISTANCE 1
|
103.45
|
SUPPORT 1
|
98.1
|
SUPPORT 2
|
95.50
|
STRATEGY
|
Sell on
higher level
|
Subscribe to:
Posts (Atom)