Expect Brent Crude to Be in $63-67 Per Barrel Range | Today Commodity Market Outlook 30 March 2018.

Commodity Market News



Natural gas is currently trading sideways above the resistance levels of 176. On the hourly chart, RSI is above 60 levels, which is positive for the prices.

If the prices sustains above 177 levels then it can easily touch 180 levels on intraday basis.

Copper is currently trading near 432 levels. Next intermediate resistance level can be seen near 433. Momentum indicator MACD is approaching 0 line which is positive for prices.

Buying is recommended only if we see a hourly close above 433 levels for the target of 437 and stop loss should be maintained below 430 levels.

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Gold Shine Crude Slips | Today Commodity Market News and Levels Outlook Report 28 March 2018.



Bullion - Opens on mixed Note Gold -30720-30750 Silver -38670-38700 

Energy - Opens on mixed Note Crude Oil - 4205-4210 Natural Gas -176.50-177 

Base Metals - Opens on mixed Note Copper -430.50-431 Nickel -840-841 Lead -155-155.50 Zinc - 213.40-213.50 Aluminium -131-130.80


MCX Gold price backed away from fiveweek high on Tuesday. Overall, Price has been trading on bullish mode and moving between two consecutive trend line. On the other hand, Gold has tested 21 days DEMA on daily chart; which could be a immediate support level for the prices.

On a weekly chart, MCX Silver has formed “Symmetrical Triangle’’ formation; where price has been moving near the upper line of the formation and indicate breakout momentum in near term.

On the daily chart, MCX Copper has been falling down form last couple of the days; where it has given horizontal line breakdown and sustained below it. In addition, price has breached lower Bollinger band formation and traded near the levels.

MCX Aluminium has inclined below the rising trend line and sustained over there; which suggest bearishness in the counter.

Crude oil price traded higher on Tuesday; where it has moved above previous week high and sustained near the resistance levels.

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Oil Prices Find support in Trade Talks And Mideast Tensions | Today Commodity Market News Outlook 27 March 2018.



Bullion - Opens on mixed Note Gold -30870-30875 Silver -39000-38980 

Energy - Opens on positive Note Crude Oil - 4260-4265 Natural Gas -174.20-174.50 

Base Metals - Opens on positive Note Copper -433-434 Nickel -845-850 Lead -155-155.50 Zinc - 213.40-213.50 Aluminium -132-132.30



Global stocks came off six-week lows on optimism that the United States and China are set to begin trade talks, easing fears about a trade war between the world's two largest economies.
The possibility of a full-blown trade war had weighed on the energy complex on fears that it could harm oil demand.
On a weekly chart, MCX Gold price has been moving within a channel formation; where it has traded near the upper line of the channel, which may act as resistance zone for the prices in upcoming days.

On the daily chart, COMEX Silver has bounced from lower Bollinger band formation; which act as support for the prices.

MCX Copper has shown continue down fall for entire week; where it has crashed around -3.51% in a week. Overall, price has given rising wedge formation breakdown; which informed bearish trend for near term.

On the daily chart MCX Zinc has been falling down from last couple, where it has sustained below 61.8% retracement levels, which act as resistance zone for the prices.

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Expect to See Modest Increase in Brent Price in 2018 | Today Commodity Market News Update 26 March 2018.




Bullion - Opens on negative Note Gold -30840-30850 Silver -38800-38860 

Energy - Opens on mixed Note Crude Oil - 4260-4265 Natural Gas -167.30-167.50 

Base Metals - Opens on negative Note Copper -429-430 Nickel -836-840 Lead -152.50-152.40 Zinc - 207.60-208.40 Aluminium -132-132.30



Precious metals are trading higher on COMEX today. We expect prices to trade higher for the day as the threat of a trade war between the United States and China drove investors to seek refuge in safe assets.


Industrial metals are trading mix on International bourses today. We expect prices to trade range bound for the day as concerns over U.S.-China trade relations continued to batter global stocks and threaten to blunt metals demand.


Crude oil is trading lower on NYMEX today. We expect prices to trade range bound for the day as concerns of a looming trade dispute between the United States and China weighed on global markets.

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Oil Buoyed by Saudi talk of Extending Output Cuts Into 2019 | Today Commodity Market News 24 March 2018.

COMMODITY MARKET TIPS

Oil prices rose on Friday after the Saudi energy minister said OPEC would need to keep coordinating supply cuts with non-member countries including Russia into 2019.

Oil's rise defied a slump in global stock markets, which fell in response to worries about a trade stand-off between the United States and China. Gold, seen as a safe haven, hit a two-week high.

Brent crude futures were at $69.10 per barrel at 1136 GMT, up 19 cents but off a session high of $70. For the week, Brent was up about 4.4 percent, its strongest showing since October.


U.S. West Texas Intermediate (WTI) crude futures were at $64.57 a barrel, up 27 cents but below a session high of $65.42. On the week, WTI was up about 3.6 percent.

Zinc prices edged lower in today’s session and are under selling pressure. On hourly chart RSI is below 40 levels, indicating weakness in prices. Currently, it is trading near the important support level of 207.70. Close below the prescribed level can push prices lower towards 205 levels.

If  prices sustian above 209.70 levels then it can rally up till 211 levels.

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Oil Retreats After Hitting Six-Week Highs Near $70 a Barrel | Today Commodity Market Outlook 23 March 2018.


Bullion - Opens on positive Note Gold -30650-30700 Silver -38800-38860 

Energy - Opens on mixed Note Crude Oil - 4245-4230 Natural Gas -170.60-170-80 

Base Metals - Opens on mixed Note Copper -435.50-437 Nickel -853.50-854 Lead -153.50-153.40 Zinc - 209.60-209.40 Aluminium -133.70-133.80



Gold has started a week on positive note and rising form last four days; which intimate recovery in the counter. On the daily chart, MCX Gold price has recovered after taking a support of lower Bollinger band; which was the reversal point for the prices.

Silver has bounced from lower Bollinger band formation; which act as support for the prices. Moreover, price has also moved above 61.8% retracement level; which is a another support confirm the bullish move in the counter.

Copper prices on Thursday edged lower from the three-week lows. On a weekly chart, Copper has given rising wedge formation breakdown; which informed bearish trend for near term.

On a weekly chart MCX Zinc has been falling down from last couple, where it has given rising trend line breakdown and sustained below it. Moreover, Price has slipped below 50 DEMA on weekly chart; which suggest downward trend for medium term.

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TODAY COMMODITY MARKET NEWS & LEVELS OUTLOOK 22 March 2018.



Bullion - Opens on positive Note Gold -30530-30550 Silver -38800-38860 

Energy - Opens on mixed Note Crude Oil - 4245-4250 Natural Gas -172.80-173 

Base Metals - Opens on positive Note Copper -444.50-445 Nickel -879-880 Lead -156.50-156.40 Zinc - 212.60-212.30 Aluminium -135.70-135.80



Precious metals are trading higher on COMEX today. We expect prices to trade higher for the day as investors took profits after the yellow metal hit a two-week high in the previous session on a weaker dollar after the U.S. Federal Reserve disappointed investors expecting more hawkish comments on interest rate rises.


Industrial metals are trading higher on International bourses today. We expect prices to trade range bound to higher for the day, after the U.S. Federal Reserve signaled a slower pace of rate rises this year, which weighed on the dollar.


Crude oil is trading flat on NYMEX today. We expect prices to trade range bound for the day, lifted by a surprise draw on U.S. crude inventories as well as ongoing dollar weakness which makes oil cheaper in global markets and potentially spurs demand.


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Today Commodity Market News & Levels Outlook Report 15 March 2018.


Bullion - Opens on positive Note Gold -30450-30440 Silver -38800-38850 

Energy - Opens on positive Note Crude Oil - 3960-3965 Natural Gas -177.80-178 

Base Metals - Opens on positive Note Copper -454-455 Nickel -890-891 Lead -156-156.50 Zinc - 209.50-209.70 Aluminium -135.80-135.70


Precious Metals 
Gold prices edged higher in early morning session and traded near one week high as concerns over trade tensions weighed on share markets. The geo political uncertainty has provided support to gold prices. Data from U.S. showed retail sales falling for third straight month in Feb as households cut back on purchases of motor vehicles and other big-ticket items. 


Base Metals 
Base metals consolidated after trading choppy in previous sessions with aluminium hovering near its lowest since late Dec on expectations of rising supply as China's winter pollution controls expire. China's aluminium production fell 1.8% in Jan-Feb from year earlier as the country's pollution crackdown and supply-side reform kicked in even as new smelters are due to come on-stream this year.


Energy 
Crude prices stabilized on lower levels despite EIA inventory data showed a built up of 5million barrels, the biggest jump since late January. A bigger-thanexpected U.S. crude stock build was offset by large distillate and gasoline inventory draws. Prices were pressured after The Organization of the Petroleum Exporting Countries (OPEC) said in its monthly report that supply from non-members is likely to grow by 1.66 million barrels per day (bpd) in 2018

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Gold Prices Steady on Weaker Dollar | Today Commodity Market News 14 March 2018.



Bullion - Opens on positive Note Gold -30450-30500 Silver -38930-38980 

Energy - Opens on positive Note Crude Oil - 3940-3950 Natural Gas -181.40-181.80 

Base Metals - Opens on positive Note Copper -454-455 Nickel -901-902 Lead -156-156.50 Zinc - 214-214.20 Aluminium -135.80-136.


Precious Metals 
Gold prices logged their largest one-day gain in a week as dollar softened after news that U.S. Secretary of State Rex Tillerson's sudden dismissal. As for economic data, the U.S. consumer-price index rose a mild 0.2% in February after a worrisome 0.5% increase in the first month of the year which pointed towards path of gradual hikes in U.S. interest rates which kept pressure on dollar. U.S. consumer prices cooled in Feb amid decline in gasoline prices and moderation in cost of rental accommodation

Base Metals 
Base metals traded choppy in range, with some pullback seen in metals after previous days sell off. Aluminium slipped to its lowest in almost three months, before end of winter output curbs in top producer China, as investors worried that supplies are too plentiful to keep prices near six-year highs.

Energy 
Crude prices cracked after see-sawing last week, as report that U.S. crude inventories are not rising as much as expected during spring season that is starting, implying healthy demand supported prices. U.S. crude inventories rose by 1.2 million barrels to 428 million barrels compared with expectations for increase of 2 million barrels.


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Oil Prices Fall on Relentless Rise in US Crude Output | Today Commodity Market News 13 March 2018.

Commodity Market Tips

previous metal

Gold prices slipped in the early session due to gains in the dollar but rose after disappointing average hourly earnings data. That lowered the Y-o-Y increase in average hourly earnings to 2.6% from 2.8% in Jan. Data showed the US economy added 313,000 jobs last month boosted by largest rise in the construction jobs since 2007. Government reported that wage pressures remained muted even as U.S. employers added far more jobs than expected in Feb with one U.S. central banker advocated pause on rate hikes, another waxed sarcastic about the Fed's view of maximum employment and a third hinted he could support even faster rate hikes.

Base Metals
Base metals cracked yesterday, which much import on minor metals. Aluminium slipped to its lowest in almost three months, three days before the end of winter output curbs in top producer China, as investors worried that supplies are too plentiful to keep prices near six-year highs, bringing it down nearly 9% from a high in early January. 

Energy 
Crude prices retraced some gain from the previous session due to relentless rise in U.S. crude output which weighed on markets. EIA reported that U.S. crude production from major shale formations is expected to rise by 131,000 bpd in April from the previous month to a record high 6.95 million bpd. U.S. production is expected to rise above 11 million bpd by late 2018, taking the top spot from Russia. Meanwhile, U.S. natural gas production was projected to increase to a record 66.1 bcfd in April.

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TODAY COMMODITY MARKET NEWS AND LEVLELS REPORT OUTLOOK 07 March 2018.

COMMODITY MARKET NEWS


Precious metals are trading mix on COMEX today. We expect prices to trade range bound to higher for the day as U.S. equities and the dollar weakened after President Donald Trump said he would push ahead with punitive tariffs on steel and aluminium imports, rekindling fears of a potential trade war.

Industrial metals are trading lower on International bourses today. We expect prices to trade range bound for the day, on heightened fears of a trade war that could derail global growth after U.S. President Donald Trump said he would push ahead with his plan to impose heavy tariffs on steel and aluminum imports.

Crude oil is trading lower on NYMEX today. We expect prices to trade range bound for the day, pulled down by weaker share markets after a key advocate for free trade in the U.S. government resigned, triggering concerns that Washington would go ahead with import tariffs and risk a trade war.

Russian oil companies could sign contracts with Iran by March 21 that would allow them to work on Iranian oilfields, Russia's Energy Minister Alexander Novak said on Tuesday.

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TODAY COMMODITY MARKET NEWS & LEVELS OUTLOOK REPORT 05 MARCH 2018.


Bullion - Opens on positive Note Gold -30460-30470 Silver -38920-38940 

Energy - Opens on mixed Note Crude Oil - 4000-4005 Natural Gas -176.20-176.40 

Base Metals - Opens on negative Note Copper -452-453 Nickel -872-874 Lead -159.90-160 Zinc - 219.60-219.80 Aluminium -139.60.139.80




Precious metals prices rose on Friday as the threat of a global trade war pushed equities and the U.S. dollar lower and spurred demand for assets such as bullion that are broadly seen as safe-haven investments.

Precious metals are trading higher on COMEX today. We expect prices to trade range bound for the day as the dollar remained pressured amid fears of a global trade war following U.S. President Donald Trump's decision to impose tariffs on imports of aluminium and steel.

Industrial metals are trading mix on International bourses today. We expect prices to trade range bound for the day as attention shifted to upbeat comments at China's annual opening to parliament on economic growth and reform.

Crude oil is trading higher on NYMEX today. We expect prices to trade higher for the day, ahead of a meeting between OPEC and U.S. shale firms in Houston, raising expectations that oil producers would discuss further how to clear a global oil glut.

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