WEEKLY LATEST UPDATES Gold prices moved higher on Friday, as the U.S. dollar was weakened by new developments in a special investigation into Donald Trump's presidential campaign and amid ongoing uncertainty over the fate of a major U.S. tax overhaul. The U.S. House of Representatives on Thursday approved a broad package of tax cuts, which will now be debated by the Senate. Investors were still cautious however, as the Republican majority is smaller in the Senate and no decisive action is expected until after next week's Thanksgiving holiday. The greenback also remained under pressure following reports that U.S. President Donald Trump's election campaign had been subpoenaed for documents in an ongoing investigation relating to possible Russian interference in the 2016 presidential election.
Crude oil ended the week on a rebound as Saudi Arabia moved to dissipate doubts that Russia is ready to extend output curbs. Futures rose 2.6 percent in New York on Friday after Saudi Ara ia’s E ergy Mi ister Khalid Al-Falih said OPEC should announce an extension of the uts he it
eets o No . 30. But that as ’t e ough to o pletely erase losses fro
the
past few days, when uncertainty over a deal and surging U.S. production set the tone. Prices were 0.3 percent lower for the week, snapping the longest streak of weekly gains in a year. Ahead of the OPEC
eeti g,
e’re goi g to see a little it of olatility," Ge e M Gillia , a
market research manager at Tradition Energy in Stamford, Connecticut, said by phone. "Going forward, the market needs to keep seeing that the fundamental picture is continuing to tighten. disruptions.
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WEEKLY MARKET WRAPUP COMMODITY
OPEN
GOLD
29491
SILVER
39507
CRUDEOIL
3609
ZINC LEAD ALUMINIUM COPPER NICKEL
HIGH
CLOSE
29368
29714
39455
40171
3642
3579
3666
212.60
214.30
204.50
208.70
164.50
165.85
156.20
158.65
137.20
138.55
134.65
136.20
447.35
453.40
439.40
444.40
800.10
820.10
737.60
750.70
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29741
LOW
40208
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TECHNICAL CHARTS & RESEARCHER VIEW MCX GOLD DEC 2017
RESISTANCE (2)
RESISTANCE (1)
PIVOT POINT
SUPPORT (1)
SUPPORT (2)
29980
29847
29607
29474
29234
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TRADING STRATEGY: MCX Gold during this week prices as expected moved upward. Gold DEC contract now looking further bullish on weekly chart. For the next week we expect gold prices to find Resistance in range of 29860 levels. Above 29860 levels, the strong resistance is at 29310 levels. Support is in the range of 29457 levels. Below 29457 the strong Support is at 29210 levels.
RECOMMENDATION: BUY GOLD ABOVE 29680 TGT 29880 SL 29480
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MCX CRUDEOIL DEC 2017
WEEKLY PIVOT LEVEL RESISTANCE (2)
RESISTANCE (1)
PIVOT POINT
SUPPORT (1)
SUPPORT (2)
3825
3745
3662
3582
3499
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TRADING STRATEGY: MCX CRUDEOIL during this week prices as expected moved upward. Crude Oil Dec contract now looking further bullish on weekly chart. For the next week we expect Crude oil prices to find Resistance in range of 3745 levels. Above 3745 levels, the strong Resistance is at 3820 levels. Support is in the range of 3625 levels. Below 3625 the strong Support is at 3500 levels. RECOMMENDATION: CRUDE OIL BUY ABOVE 3680 TGT 3740 SL 3620
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MCX ZINC NOV 2017
WEEKLY PIVOT LEVEL RESISTANCE (2)
RESISTANCE (1)
PIVOT POINT
SUPPORT (1)
SUPPORT (2)
218.97
213.83
209.17
204.03
199.37
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TRADING STRATEGY: MCX ZINC traded with Negative bias in the previous session. ZINC NOV contract now looking further bearish on weekly chart. For the next week we expect zinc prices to find Support in range of 204.30 levels. Below 204.30 levels, the strong Support is at 200.20 levels. Resistance is in the range 213.30 levels. Above 213.30 the strong Resistance is at 218.70 levels.
RECOMMENDATION: SELL ZINC BELOW 206.70 TGT 203.70 SL 209.20
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DISCLAIMER The information contained here was gathered from sources deemed reliable however; no claim is made as to accuracy or content. This does not contain specific recommendations to buy or sell at particular prices or time, nor should any examples presented be deemed as such. There is a risk of loss in commodity trading and you should carefully consider your financial position before making a trade. This is not, nor is it intended, to be a complete study of chart patterns or technical analysis and should not be deemed as such. Money Classic Investment Advisors does not guarantee that such information is accurate or complete and it should not be relied upon as such. Any opinions expressed reflect judgments at this date and are subject to change without notice. For use at the sole discretion of the investor without any liability on Money Classic Investment Advisors. • MONEY CLASSIC INVESTMENT ADVISORS • WEBSITE- WWW.MONEYCLASSIC RESEARCH.COM • EMAIL- INFO@MONEYCLASSICRESEARCH.COM • CONTACT NO. - (M) 9039777700, (0)0731-4094475
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