safe trade calls

GOLD

PRICE TURN EXACT FROM OUR GIVEN RESISTANCE=11775 AS DAYS HIGH=11778. Continue to view, as long Resistance 11775 & 11900, down trend likely to continue. book profit on sell below 11575, for the day sell only below 11470 S/L 11505 and T/p 11410/ towards 11300 in coming days OR sell ard 11765-70 S/L 11780 and T/p 11710-650 (any time close above 11900/ 12375/12850/13600/14325 bullish while close below 11470/11290-250 bearish for medium term)


SILVER

Continue to view as long Resist of 17250/17375/17550 & 17750 down trend likely to continue. for the day sell below 16800 S/L 16875 and T/p 16730-675/ 16575/sustain below towards 16250 & 16100 and close below 16100 test 15400 atleast in coming days OR sell ard 17520-530 S/L 17550 and T/p 17375 -250 (any time close below 16100-15975 bearish rally while close above 17750/19000/20550/21400/22150/ 25250/26350/27475/28000 bullish for medium term)


CRUDE

Continue to view, as long Resistance 3320/3375/3420 & 3450, down trend likely to continue. for the day sell below 3130 S/L 3150 and T/p 3095-3100/3070/ 3045/sustain close below 3045 test 2900-2890 atleast in coming days OR sell ard 3250-55 S/L 3260 and T/p 3225-3200 (now crude need to close above 3450/3765/4120/4400/4800/5000/5290 for bullish rally while close below 3040 bearish for medium term)


COPPER


ontinue to view, as long Resistance of 206 & 215, down trend likely to continue. for the day sell only below 195 S/L 197.25 and T/p towards 190-188.50/ sustain close below towards 170 atleast in coming days OR sell ard 202.50-203 S/L 203.50 and T/p 200.75-199 (upside strong rally only on close above 215/ 234.5/248/270/305/316/327/339/ 351.25/360.5/387/398 while close below 195/188.5 bearish for medium term)


MCXARUN
9994500540

outlook

Gold remained nervous as investors ditched the dollar and moved to commodities and stocks, relieved that election would end the uncertainty of the long U.S. presidential campaign. Gold futures supported as the dollar endured its biggest one-day drop against a basket of currencies in 13 years. A recovery of oil prices due to an output cut by Saudi Arabia, a more optimistic equity outlook and easier credit cited. Bullion also supported by signs that a global recession seemed averted for the moment. U.S. stocks were 3% higher in afternoon trade. Active buying during the Europe sessions and lower Libor rates helped boost gold buying.

Crude tumbled more than $5 after a government inventory report showed gasoline supplies rose unexpectedly last week, even as crude supplies were flat and distillate supplies rose. Crude oil prices have been under pressure due to sliding demand and concern a slow economy will further curb petroleum use. Crude inventories were flat after five consecutive reports of builds, while gasoline stockpiles surged unexpectedly, according to government data. For the week crude-oil inventories remained at 311.9 million barrels, which is 1.5% above year-ago levels, according to the Energy Department's Energy Information Administration in its weekly report. Analysts had expected a boost of 500,000 barrels, according to a survey by Platts, the energy information arm of McGraw-Hill Cos. Gasoline inventories surged by 1.1 million barrels, or 0.6%, to 196.1 million barrels, which is 1.3% below year-ago levels. However analysts expected stockpiles of the motor fuel to fall by 1.1 million barrels. Demand for gasoline over the four weeks was 2.3% lower than a year earlier, averaging 9 million barrels a day. At the same time, U.S. refineries ran at 85.3% of total capacity on average, unchanged from the prior week. However analysts expected capacity to rise 0.2% to 85.5%.

Copper shed nearly 6% to lead other industrial metals lower as inventories rose and the strong dollar weighed after the U.S. election. The dollar rose against a basket of major currencies after posting its biggest one-day slide in 13 years as Democrat Barack Obama won the U.S. presidential election. Prices of the metal, used in power and construction, have fallen more than 50% since a record high of $8,940 in July. Poor demand for copper is mirrored by the continuous jumps in inventories. Stocks of the metal in LME registered warehouses jumped 5,825 tonnes, bringing the total to 247,475 tonnes. The stocks have risen more than 35,000 tonnes in the last two weeks alone. The collapse in copper prices since July has forced more than 40 percent of China's refined copper capacity to slow production, and may cost the market as much as 120,000 tonnes in lost metal in 2008. This is equivalent to 3% of China's total copper production or one month of refined imports

Courtesy: Religare Commodities


MCXARUN
9994500540