Market Update

Market Watch

Thursday, 16 May 2013

Live Mcx Market Trading View By Money CapitalHeight



  • Gold drops below $1400 as dollar advanced further north.
  • Natural Gas extends gains on lower production concerns.
  • Silver futures decline to a three-week low in New York.
  • Crude Oil falls to $94.10 a barrel over economic weakness.


Gold futures dwindled below $1400 to near one-month low on Comex as the dollar’s rally eroded demand for the metal as an alternative investment. Reports of George Soros and Blackrock Inc. reducing holding in bullion-backed exchange-traded products added to negative sentiments. WTI Crude fluctuated on speculation that central banks will add stimulus due to signs of economic weakness in the U.S. and Europe that threaten fuel demand. Copper declines for third consecutive day on weak demand from China, U.S. & Germany


TECHNICAL VIEW

GOLD (APR) 

Trend       • Consolidate

Strategy      • Sell on high

Resistance  • R2 - 27230 ;  R1 - 26700
support       • S1 – 26915 ; S2 – 26390



SILVER (MAY)
Trend          • Bearish

Strategy      • Sell on high   

Resistance  • R2 - 44830; R1 - 43970            
support       • S1 - 43350; S2 – 42200



LEAD (APR)

Trend          • Consolidate

Strategy      • Sell on high   

Resistance  • R2 - 111.6; R1 - 109.5           
support       • S1 - 106.2  ;S2 –104.0



ZINC (APR)

Trend          • Consolidate

Strategy      • Sell on high   

Resistance  • R2 - 102.7; R1 - 100.9          
support       • S1 - 97.9;   S2 - 95.6



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