Oil Prices Near Levels Last Seen in 2014/2015 As Market Tightens | Today Commodity Market Outlook 04 Jan 2018.



Bullion - Opens on negative Note Gold -29080-29090 Silver -38950-39000 

Energy - Opens on positive Note Crude Oil -3930-3950 Natural Gas -192-193 

Base Metals - Opens on negative Note Copper -456.80-456.90 Nickel -786-787 Lead -162.70-163 Zinc - 211.70-211.80 Aluminium -140.50-140.70




Gold prices traded on high continues third week where it has shown one-side bullish rally without enabling selling pressure. On the other hand, COMEX Gold hit its two months high and sustained above psychological level of $1300; which create optimistic condition among the traders. Moreover, 21 days EMA supported the prices on daily chart. Furthermore, momentum indicator RSI (14) reading is at 50 levels with positive crossover. Based on the above technical aspects, we expect a bullish movement in MCX Gold price.


MCX Silver has given breakout of falling trend and settled above it. On the other hand, COMEX Silver has also sustained above the falling trendline after one side bullish movement on the daily chart; where it has crossed psychological level of $17.

Copper price has retracted from high after forming a rounding top on daily chart; which suggest upward trend has ended and price may reverse from top.

Aluminium Price has found the resistance of rising trend line and reversed back from high; which indicate trend reversal for short term.

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