21/08/2017
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Crude oil futures rally on report of rig count decline: Crude oil futures extended their gains on Friday with a rally after industry data showed the U.S. rig count fell the week, while on the demand side of the equation, the University of Michigan released a report on Friday showing a much bigger than expected improvement in US consumer sentiment in the month of August. The report said the preliminary reading on the consumer sentiment index for August jumped to 97.6 from the final July reading of 93.4. Meanwhile, oilfield services firm Baker Hughes, showed its weekly count of oil rigs operating in the United States last week fell by five rigs to a total of 763. The dip in U.S. oil rigs eased investor concerns that rising U.S. production could hamper Opec’s ability to stem the glut in supplies.
Comex copper futures end little changed on Friday: Comex copper futures ended little changed on Friday, while London copper prices fell further from multiyear peaks overnight due to profit-booking.
Gold futures edge lower on Monday: \Gold futures edged lower on Monday with the tone from central bank chiefs meeting in Wyoming this week on withdrawing extraordinary monetary stimulus key to the fortunes of the metal.
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21/08/2017
TECHNICAL ANALYST
GOLD
OUTLOOK: TREND: - UP RESISTANCE: - 29200, 29300. SUPPORT: - 29000, 28900. STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK
Gold futures for December delivery slipped 0.2 percent to $1,289.40 per ounce on the Comex division of the New York Mercantile Exchange. While, spot gold was nearly unchanged at $1,283.30 an ounce. MCX Gold futures closed at Rs 29214 per 10 grams, On the day after hitting highs above Rs 29443 levels in intraday moves.
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21/08/2017
SILVER
OUTLOOK: TREND: - UP RESISTANCE: - 39000, 39200. SUPPORT: - 38600, 38400. STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK The Prices of silver were down on Friday. And at end of the day the prices were settled at 39063 per 30 kilogram. On the higher side Rs 39677 per 30 kilogram as resistances were noted while lows were at Rs 38920 per 30 kilograms as support noted. The metals remain under a volatile zone.
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21/08/2017
COPPER
OUTLOOK: TREND: - UP RESISTANCE: - 418.50,421. SUPPORT: -412.50, 410. STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK Copper futures for September delivery ended little changed at $2.940 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange was down 0.1 percent at $6,485 a metric ton.. On MCX it was closed at Rs 415.35, and tested high of Rs 418.85 and tested low of Rs 413.55.
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CRUDE OIL OUTLOOK: TREND: - DOWN RESISTANCE: - 3130, 3160. SUPPORT: - 3070, 3040. STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK Benchmark crude oil futures for September delivery ended up by $1.42 or 3 percent to $48.51 on the New York Mercantile Exchange. In London, Brent crude for September delivery ended higher by 3.59 percent at $52.87 a barrel on the ICE. MCX Crude oil futures tested high around Rs 3111 per barrel before ending around Rs 3104 levels.
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21/08/2017
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