DGCX Crude Outlook 28th Jan, 09

U.S. crude futures settled 9 percent lower yesterday, declining on reports of plunging U.S. consumer confidence and home prices that kept concerns about slumping oil demand in focus. Expectation of build up in weekly inventory also influenced the oil prices

According to the data, The Standard & Poor's/Case-Shiller index of home prices in 20 cities was down 18.2% in November from a year ago, roughly as expected.

The Conference Board's index of consumer confidence fell from 38.6 to 37.7 in January, weaker than expected. Richmond Federal Reserve's regional index of manufacturing improved from -55 to -49 in January, still a sign of contraction.

Weak movements in natural gas futures also adversely affected the crude oil movements.

Weekly Crude Oil (DWTI January.)

Expecting bullish movements above $44.25; Resistances are $47, $50 and $55. Supports are at $41.70, $39.30, $ 35.50

DWTI (JAN) traded in the range $47.08 - $41.75and closed at $41.58

TECHNICAL OUTLOOK (Intra-day)

DGCX Crude (January) - Bullish above $41.73bearish below $41.20


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DGCX Gold Outlook 28th Jan, 09

U.S. gold futures ended lower yesterday after a three-session winning streak, as investors locked in profits after the price of bullion recently rallied based on safe-haven buying amid economic worries and strong investment demand. Weak oil prices also adversely affected the precious metals movements. Oil price dropped more than $4 to below $42 per barrel, triggered profit taking in gold futures.

At the same time dollar fell against the euro yesterdays after data showed prices of U.S. single-family homes dropped by a record 18.2 percent in November from a year earlier.

According to the data, The Standard & Poor's/Case-Shiller index of home prices in 20 cities was down 18.2% in November from a year ago, roughly as expected.

But on Monday gold rose above $900 an ounce to the highest level in more than three months as interest in bullion as a haven from risk and a weaker dollar against the euro supported buying. Fresh investment demand in light of weak world economy also supported the precious metals movements.

International spot gold traded in the range $ 906.90- $ 891.50 a Troy Ounce and last quoted at $897.30

Weekly Outlook (DG. OCT.)

Gold prices if sustain above 905 is bullish. Resistances are $918, $833, $952 and 988. Supports are at $892, $875, $861.

Last day DGCX Gold FEB. Traded in the range $909.30-$894.80and closed at $ 899.80

TECHNICAL OUTLOOK (Intra-day)

GOLD (FEB) - Bullish above $ 903 bearish below $ 897

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safe trade calls

GOLD

US Fed Interest Rate decision schedule today expected at 12.45 night. SINCE PRICE BREAK 13325 WE ANALYSE UPTREND & SEE PRICE NOW. THIS WAS OUR VIEW "close above 13800 towards 14200-300 Range atleast" & SEE HIGH MADE TILL NOW=14214.Continue to view as long Support of 13740 & 13475 uptrend seen continue. for the day buy abv 14150 S/L 14120 and T/p 14185-225/sustain abv towards 14350 and anytime close above 14400 Xpect new uprally for coming weeks OR buy ard 13750-760 S/L 13740 and T/p 13810-860 (any time close above 14200 -400 bullish while close below 13475/ 13000/12725/12330/11950/11525-420 bearish for medium term)

SILVER

THIS WAS OUR VIEW "close above 18850 test 19500-600 Range atleast & SEE HIGH REGISTER TILL NOW= 19595. Continue to view as long Support of 18800 & 18525 uptrend seen continue. we book profit on buy abv 19400, for the day buy only abv 19550-600 S/L 19450 and T/p 19750-800/ towards 20000 OR buy ard 18970-980 S/L 18950 and T/p 19075-19175 (any time close below 18525/18000/17375/ 16925/16100/15775 bearish rally while close above 19600/20975/21725 bullish for medium term)


CRUDE

Crude oil Inventory Schedule to release today. Now as long support of 1990 & 1950 some bounce back expected buy uptrend only close above 2320. for the day buy only abv 2155 S/L 2135 and T/p 2180-2230 OR buy ard 1995-2000 S/L 1990 and T/p 2030-40/2080, only sustain below 1990 & 1950 down trend and close below 1930 potential towards 1780 - 1580 in coming days (now crude need to close above 2320/2650-75/ 2950 for bullish rally while close below 1925 bearish for medium term)


COPPER

Now as Long support of 158.5/154 & 151 some bounce back expected. for the day buy abv 163.5 S/L 162.2 and T/p 165-167 OR sell below 158.5 S/L 160 and T/p 156-154.5 (upside strong rally only on close above 174-175/183.5/ 191.5/197.5/204.5/219/238/271 while close below 150.5/144/138.5 bearish for medium term)


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