HIGH LIGHTS:-
- LME Copper Sets for Losses.
- Oil prices dip after strong rally, but sentiment remains confident.
- Gold gains in Asia in cautious trade ahead of U.S. presidential debates.
PRECIOUS METALS:-
Gold drifted higher on Thursday in Asia in cautious trade as investors looked ahead to the final of three U.S. presidential debates that may throw up some insights on economic policy plans by contenders Donald Trump and Hillary Clinton. Gold for December delivery on the Comex division of the New York Mercantile Exchange rose 0.06% to $1,270.65 a troy ounce.Elsewhere in metal trading, silver futures for December delivery gained 0.25% to $17.707 a troy ounce. Overnight, gold prices held onto solid gains on Wednesday as a batch of mixed data on the U.S. housing market kept up pressure on the dollar. PRECIOUS LEVEL |
CS GOLD (DEC) OVERVIEW:
TREND : SIDEWAYSRESIST 2: 30200
RESIST 1: 30050
SUP 1: 29700
SUP 2: 29600
CS SILVER (DECEMBER) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 43300
RESIST 1: 43000
SUP1: 41200
SUP2: 40900
RESIST 2: 43300
RESIST 1: 43000
SUP1: 41200
SUP2: 40900
BASE METALS:-
LME copper is expected to fluctuate between USD 4,650-4,680/mt on Thursday during Asian trading hours and SHFE 1612 copper will move at RMB 37,100-37,350/mt.In China’s domestic market, spot copper should trade at premiums of RMB 120-180/mt on Thursday.
Interest rate decision by European Central Bank (ECB) and the third presidential debate in the US will be the focus of markets today. Base metals fell initially and then rose overnight, and will continue to diverge today.
Eurozone annualized September CPI doubled that in August, meaning quantitative easing policy is showing result. The market thus expects Germany’s September PPI to improve.
Interest rate decision by European Central Bank (ECB) and the third presidential debate in the US will be the focus of markets today. Base metals fell initially and then rose overnight, and will continue to diverge today.
Eurozone annualized September CPI doubled that in August, meaning quantitative easing policy is showing result. The market thus expects Germany’s September PPI to improve.
BASE METAL LEVELS
CS COPPER (NOVEMBER) OVERVIEW:
TREND :BEARISH
RESIST 2:318
RESIST 1:316
SUP1:312
SUP2:309
RESIST 2:318
RESIST 1:316
SUP1:312
SUP2:309
CS NICKEL (OCT) OVERVIEW:
TREND :SIDEWAYSRESIST 2:698
RESIST 1:693
SUP1:680
SUP2:670
CS ZINC (OCT) OVERVIEW:
TREND :BULLISH
RESIST 2:156.00
RESIST 1:154.50
SUP1:152.30
SUP2:151.00
RESIST 2:156.00
RESIST 1:154.50
SUP1:152.30
SUP2:151.00
CS LEAD (OCT) OVERVIEW:
TREND : BULLISH
RESIST 2:135.70
RESIST 1:134.20
SUP1:132.20
SUP2:131.00
RESIST 2:135.70
RESIST 1:134.20
SUP1:132.20
SUP2:131.00
CS ALUMINIUM (OCT) OVERVIEW:
TREND : BEARISHRESIST 2:110.40
RESIST 1:109.80
SUP1:108.00
SUP2:107.00
ENERGIES:-
Oil prices dipped on Thursday on profit taking after markets rallied the previous day due to a draw in U.S. stocks and an expectation of an OPEC-led cut in production.Oil prices continued to rise overnight on optimism over OPEC supply restraint and weaker-than-expected inventories," ANZ bank said on Thursday.The overall mood in oil markets remained confident, with most analysts expecting further increases.
Reuter’s technical commodity analyst Wang Tao said U.S. oil is expected to break a resistance zone of $51.67 to $52.11 per barrel, and then rise towards $52.78. Meanwhile, Brent oil may stabilize around a support at $52.49 per barrel and then retest a resistance at $53.45.
ENERGY LEVELS
CS CRUDE OIL (OCTOBER) OVERVIEW:
CS CRUDE OIL (OCTOBER) OVERVIEW:
TREND :BULLISH
RESIST 2:3540
RESIST 1:3500
SUP1:3420
SUP2:3390
RESIST 2:3540
RESIST 1:3500
SUP1:3420
SUP2:3390
CS NATURAL GAS (OCTOBER) OVERVIEW:
TREND :BEARISH
RESIST 2:219.00
RESIST 1:216.00
SUP1:210.00
SUP2:207.50
RESIST 2:219.00
RESIST 1:216.00
SUP1:210.00
SUP2:207.50
CLICK HERE FOR DETAILS - http://blog.capitalstars.com/
Click here for comments 0 comments: