Commodity News Letter For Monday

Gold:-

Gold prices rose to a one-week high as the U.S. dollar pulled back from its strongest level in more than a month, supporting demand for the yellow metal. Concern over U.S. President Donald Trump's policies and elections in the Netherlands, France and Germany this year have fuelled gold’s rise. The Gold is in perfect uptrend .Currently Gold is in strong uptrend and the trend is supported with good volume the open interest is not increasing with trend. Cautious point is buying at higher levels seems decreasing. The Gold is now trading in overbought level. The oscillator is showing SELL signal for short term Gold is in hold short position. Support for the Gold is 28850 immediate resistances for gold are 29500.

Silver:-

The Silver is in perfect uptrend currently Silver is in strong uptrend and the trend is supported with good volume the open interest is not increasing with trend. Cautious point is buying at higher levels seems decreasing. The Silver is now trading in overbought level. The oscillator is showing buy signal for short term the current position is buying. Support for the Silver is 41600.Immediate resistance for Silver is 43500.

Crude:-

Crude oil rose after OPEC sources said the group could extend its oil supply-reduction pact with non-members and might even apply deeper cuts. OPEC and other exporters including Russia agreed last year to cut output by 1.8 million barrels per day (bpd) to reduce a price-sapping glut. The Crude oil is in perfect uptrend .Currently Crude oil is moving sideways The oscillator is showing BUY signal .In last 1 month volatility is very less Buy the Crude oil above 3710 or buy with strict stop at 3525. The oscillator is showing BUY signal for short term Crude oil is in sell position. Support for the Crude oil is 3525. Immediate resistance for Crude oil is 3710.

Copper:

Last week, LME Copper prices rose 0.3 percent to close at $6106/t as US president surprised the global markets by affirming to the One China policy, a major bone of contention between the two superpowers. Also, supply concerns at Freeport mine in Indonesia continue even after the government granted it new export permit since the company wants the same fiscal and legal protection in its current contract was supportive.

Zinc :

The Zinc is in perfect uptrend .Currently Zinc is in strong uptrend and the trend is supported with good volume the open interest is not increasing with trend. The oscillator is showing buy signal for short term Zinc is in hold long position. Support for the Zinc is 187 immediate resistances for Zinc are 198.

Lead:-

The Lead is in long medium term bull phase .Currently Lead is in strong downtrend with good momentum and the trend is supported with good volume the open interest is not increasing with trend. Noting point is selling at lower levels seems decreasing. The oscillator is showing sell signal for short term Lead is in hold long position. Support for the Lead is 150.Resistance for the Lead is 160.

Nickel:-

The Nickel is in perfect uptrend .Currently Nickel is in strong uptrend and the trend is supported with good volume the open interest is not increasing with trend. Cautious point is buying at higher levels seems decreasing. The oscillator is showing buy signal for short term the current position is buying and closed above 1 month high with volume signals up breakout. Support for the Nickel is 712.Immediate resistance for Nickel is 748.

Aluminum:-

The Aluminum is in perfect uptrend .Currently Aluminum is showing some up move after small correction and trend is strong momentum is also showing strength and supported with good volume The open interest is not increasing with trend . The oscillator is showing buy signal for short term Aluminum is in hold long position. Support for the Aluminum is 124 immediate resistances for Aluminum are 128.

Commodity  Trends:

	R1	S1
GOLD	29500	28850
SILVER	43500	41600
CRUDE	3710	3525
COPPER	411	390
LEAD	160	150
NICKEL	748	712
ALUMINIUM	128	124
ZINC	198	187