VICTORY COMMODITY RESEARCH

LME Inventory

Last updated at 02:30 PM

Metal	Change from previous day
Aluminium	-8000
Copper	-700
Lead	-3075
Nickel	-144
Tin	Unchanged
Zinc	-2825

Special Report 15.11.2012

Gold (December Future) Levels

TREND	Bullish
RESISTANCE 2	32268
RESISTANCE 1	32047
PIVOT	31840
SUPPORT 1	31632
SUPPORT 2	31444
STRATEGY	Buy on lower Levels

Silver (December Future) Levels

TREND	Bullish
RESISTANCE 2	62534
RESISTANCE 1	61760
PIVOT	60720
SUPPORT 1	59683
SUPPORT 2	58872
STRATEGY	Buy on lower Levels

Crude Oil Trend Levels (November Futures)

TREND	Consolidate
RESISTANCE 2	4798
RESISTANCE 1	4759
PIVOT	4707
SUPPORT 1	4655
SUPPORT 2	4619
STRATEGY	Sell on higher Level

Copper Trend and Levels November Futures

TREND	Consolidate
RESISTANCE 2	430
RESISTANCE 1	425
PIVOT	420
SUPPORT 1	415
SUPPORT 2	411
STRATEGY	Buy on lower Levels

MCX Nickel Trend and Levels (November Futures)

TREND	Consolidate
RESISTANCE 2	935
RESISTANCE 1	909
PIVOT	885
SUPPORT 1	860
SUPPORT 2	824
STRATEGY	Buy on lower Levels

Zinc Trend and Levels (November Futures)

TREND	Consolidate
RESISTANCE 2	109.80
RESISTANCE 1	107.60
PIVOT	104.95
SUPPORT 1	102.30
SUPPORT 2	99.20
STRATEGY	Buy on lower Levels

LME Inventory

Last updated at 02:30 PM

Metal	Change from previous day
Aluminium	9450
Copper	1425
Lead	19225
Nickel	-528
Tin	-25
Zinc	-2075

Intraday Outlook

Bullion: Gold futures held near steady on Wednesday, cutting earlier gains as traders digested swings in currencies after the re-election of U.S. President Barack Obama. Gold had held a larger rise in electronic trading overnight after the election results, tracking a decline in the U.S. dollar. A second Obama term is widely expected to bring a continuation of easy money policies in the world's largest economy. Those measures can increase investor demand for gold as an alternative to paper currencies.
Energy: Crude-oil futures fell on Wednesday after the re-election of President Barack Obama sent stock-market futures lower, as investors fear the coming political battle over U.S. budget cuts and tax increases will threaten the economic recovery. Oil prices, which were already down prior to the report's release, fell further after the statistics were released.
Metals: Base metal futures on the MCX were trading lower tracking similar movement in benchmark contracts on the London Metal Exchange, Fall in stocks of metals at LME-monitored warehouses also supported sentiment in the market.

LME Inventory Data 07.11.2012

Last updated at 02:30 PM

Metal	Change from previous day
Aluminium	-6250
Copper	-1825
Lead	-1075
Nickel	-48
Tin	Unchanged
Zinc	-1725

Bullion: Gold futures contracts pared early gains on the MCX tracking the strong rupee against the dollar. However, the rise in COMEX futures contracts lent support to local prices. Gold futures on COMEX were slightly higher, but market sentiment was cautious ahead of the US presidential election results later.

Energy: Domestic crude oil futures gained tracking benchmark contracts on the New York Mercantile Exchange, where prices edged higher on expectation of some improvement in crude oil demand after refineries resumed operation in the US East Coast. However, sharp gains were capped due to strength in the US dollar against the euro and as market remained cautious ahead of the US elections later.

Metals: Base metal futures on the MCX were trading higher tracking similar movement in benchmark contracts on the London Metal Exchange, where prices rose on bargain buying. Fall in stocks of metals at LME-monitored warehouses also supported sentiment in the market. In the domestic market, metals traded higher but appreciation of the rupee against the dollar limited a sharp upside.

Special Report