Fortune Commodities News Letter Monday, December 31, 2012

Fortune Commodities News Letter International Market Update

Monday, December 31, 2012

Intraday Outlook

Bullion (Spot) Commodity

Ltp

Net Chng

Gold

1659.87

4.27

Silver

30.14

0.1

Platinum

1519.5

5

Palladium

700.4

7.4

Base metals (3M -LME) Copper

7954.25

60.75

Aluminum

2069

9

Nickel

17286

128

Zinc

2069

10.25

2327.5

4.75

Lead

Bullion: Gold futures were trading lower tracking the fall in international markets, and as the rupee strengthened against the dollar. On COMEX, gold futures were trading in a narrow band with a negative bias as investors eyed developments in the negotiations among US lawmakers to avoid a fiscal cliff. The dollar's rise against the euro also weighed on the precious metal.

Energy: Crude oil futures on MCX were at a three-month high, mirroring the benchmark contract on New York Mercantile Exchange, where a drop in the US inventories and hopes of a breakthrough in US fiscal cliff talks supported prices. On NYMEX, crude oil futures remained above the $90-a-barrel level.

Metals: Base metal futures on the MCX were trading in the red tracking the trend on the London Metal Exchange where prices fell in thin volumes and as the market remained focused on the US fiscal cliff negotiations.

Energy (NYMEX) Crude Oil

90.72

-0.08

Natural Gas

3.465

-0.004

Heating Oil

3.05

0.0052

Gasoline

2.7995

-0.0004

International Ratios Gold Silver

55.1

-0.04

Gold Crude

18.3

0.06

Technical Snapshot Commodity

Ltp

S2

S1

PV

R1

R2

Volume

OI

Trend

Gold Feb

30663

30524

30593

30691

30760

30858

23245

21165

Sell

Silver March

57516

56991

57254

57702

57965

58413

41922

23511

Sell

Copper Feb

438.80

435.93

437.37

439.63

441.07

443.33

51765

32901

Buy

Nickel Jan

948.80

938.47

943.63

949.47

954.63

960.47

10206

4715

Sell

Lead Jan

127.00

126.23

126.62

127.03

127.42

127.83

10884

18505

Sell

Zinc Jan

112.40

110.93

111.67

112.98

113.72

115.03

5714

6246

Stay away

Alumn Jan

112.70

111.73

112.22

113.03

113.52

114.33

3,483

3299

Sell

Crude Oil Jan

4995

4944

4969

5001

5026

5058

150628

24170

Buy

Nat Gas Jan

191.40

182.60

187.00

189.90

194.30

197.20

108647

26317

Buy

Forecast

Previous

Economic Calendar Date 31-Dec

IST

Data There is no US Economic Data scheduled today

For queries in technical research

Contact: 022-40273666 visit – www.fortune.co.in

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Bullion & Energy MCX Gold February Technical Outlook

MCX Silver March– Technical Outlook

MCX Gold February Contract is looking negative for the day. Market may find support near 31580 & 30480; intraday resistance can be seen near 30730 & 30840. Day traders are advised to sell intraday on rise. (Sell around 30730 with SL 30840, for the target of 30580 & 30480.)

MCX Silver March Contract is looking negative for the day. Market may find support near 57200 & 56700; intraday resistance can be seen near 57700 & 58200. Day traders are advised to sell intraday on rise. (Sell around 57700 with SL 58200, for the target of 57200 & 56700.)

MCX Natural Gas January – Technical Outlook

MCX Crude Oil January – Technical Outlook

MCX Natural Gas January contract is looking slightly positive for the day. Market may find support near 188 & 185 intraday resistance can be seen near 193 & 196 Day traders are advised to buy intraday on dips. (Buy around 188 with SL 185 for the target of 193 & 196.)

MCX Crude oil January contract is looking positive for the day. Market may find support near 4970 & 4920; intraday resistance can be seen near 5030 & 5090. Day traders are advised to buy intraday on dips. (Buy around 4970 with SL 4920, for the target of 5030 & 5090.)



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Base Metals MCX Copper February – Technical Outlook

MCX Lead January –Technical Outlook

MCX Copper February contract is looking positive for the day. Market may find support near 437 & 434; intraday resistance can be seen near 441 & 44. Day traders are advised to buy intraday on dips. (Buy around 437 with SL 432, for the target of 441 & 444.)

MCX Lead January contract is looking negative for the day. Market may find support near 126.50, 125.40, intraday resistance can be seen near 127.90 & 128.80 Day traders are advised to sell intraday on rise. (Sell around 127.90 with SL 128.80 for the target of 126.50 & 125.40)

MCX Nickel January –Technical Outlook

MCX Alumn January- Technical Outlook

MCX Nickel January contract is looking slightly negative for the day. Market may find support near 942, 934, intraday resistance can be seen near 956 & 965. Day traders are advised to sell intraday on rise. (Sell around 956 with SL 965 for the target of 942 & 934.)

MCX Aluminium January contract is looking negative for the day. Market may find support near 111.90, 111, intraday resistance can be seen near 113.10 & 114. Day traders are advised to sell intraday on rise. (Sell around 113.10 with SL 114 for the target of 111.90 & 111.)



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