Market Review & Outlook: Precious Metals

DAILY COMMODITY OUTLOOK
02nd Dec 2011
Market Review & Outlook

Precious Metals
It was a day of consolidation for most of the commodities after the strong upmove witnessed during the previous session. Gold price traded in a range between `29400--`29160 (Feb contract) levels. A break above `29525 levels will lead to a fresh upmove in gold prices. On the other hand, silver is facing supply pressure between `57900`58300 levels.
Base Metals & Energy

The base metals too, remained in a narrow range throughout the days trade. Nickel remained the weakest amongst the base metals pack as it closed the session with a cut of 3%. Crude oil prices corrected close to 2% during yesterdays session. Crude prices seem to be losing steam on the upside and we could see some correction in the same over the upcoming few sessions of trade. Natural gas went through a volatile session of trade as it recovered from the intraday lows of `183.50 levels and rallied to a high of `190.80 levels. The `185`182.50 price zones are strong support for the price of natural gas.
02nd Dec 2011
Strategy/Recommendations
MCX Crude oil Dec ` 5115.00
Traders can go short on a break below `5095 levels with a stoploss placed above `5145 levels for downside targets of ` 5040 / `5010 levels.
MCX Lead Dec ` 107.80

We recommend traders to long on a break above `108.90 levels with a stoploss placed below `107.45 levels for targets of `110.50 / `111.25 levels.
02nd Dec 2011
Morning Technical Levels for Metals and Energy Commodity Exchange Contract Trend S2 S1 LTP R1 R2
Gold Spot Gold Silver Spot Silver LME Copper Copper Zinc Lead Aluminium Nickel Crude oil Crude Natural Gas
MCX MCX
DEC DEC
MCX MCX MCX MCX MCX MCX NYMEX MCX
FEB Dec DEC DEC DEC Dec Dec
Bullions UP 28,669 UP 1728 Sideways 54,092 Sideways 32.01 Base Metals Sideways 3.4737 Sideways 397.5 UP 103.7 UP 106.2 Sideways 106.2 Down 846.4 Energy Sideways 5,028 Sideways 97.78 UP 180.3
28,779 28,888 29,069 29,249 1738 1749.05 1759 1769 54,523 54,953 55,667 56,380 32.44 32.87 33.39 33.91 3.5093 401.17 104.37 107.00 108.00 861.07 5,071 98.92 184.33 3.5450 3.5893 3.6337 404.85 410.6 416.4 105 105.9 106.8 107.8 108.8 109.7 109.8 111.3 112.7 875.7 902.9 930 5,115 5,190 5,266 100.05 101.16 102.26 188.4 191.6 194.9
02nd Dec 2011
Agricultural Commodities
Strategy/Recommendations
MCX Menthaoil Dec `1323.60
Traders can go short between `1318--`1325 levels with a stoploss placed above `1335.40 levels for downside targets of `1300 / `1288 levels.
NCDEX RM Seed Dec `3091.00

Traders can look to sell on rise between `3110--`3122 levels with a stoploss placed above `3147 levels for downside targets of `3076 / `3055 levels.
02nd Dec 2011
Morning Technical Levels for Agri - Commodities

Commodity Exchange Contract Trend S2 S1 LTP R1 R2
Jeera Pepper Turmeric Chilli Coriander Soybean Mustard Seed Ref Soya Oil CPO Castor Seed Guar Seed Guar Gum Chana Sugar Sugar Kapas Cotton Oilseed Cake Gur Potato Menthaoil Wheat Maize
NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX MCX NCDEX NCDEX
Dec Dec Dec Dec Dec
Dec Dec Dec Dec Dec
Dec Dec Dec Dec Dec
Apr Jan
Dec
Spice Complex DOWN 13081 UP 34972 DOWN 4353 DOWN 6694 3825 Oilseed Complex Sideways 2201 DOWN 3042 DOWN 621 Sideways 171 Sideways 4027 Others UP 5090 UP 16195 DOWN 3025 UP 2967 UP 1002 Sideways 703 Sideways 1133 DOWN DOWN DOWN Sideways Sideways 997 565 1300 1165 1097
13236 13391.00 35218 35465.00 4405 4458.00 6812 6930.00 3890 3956.00 2214 3066 625 342 4041 2227.50 3091.00 628.75 513.60 4054.50
13521 35683 4529 7014 4001 2249 3136 636 342 4069 5331 16770 3163 3028 2005 713 1153 1002 575 1344 1177 1105
13651 35902 4601 7098 4047 2270 3182 642 171 4084 5440 17035 3197 3047 1002 716 1159 1004 578 1365 1183 1109
5156 5221.00 16350 16505.00 3077 3130.00 2988 3010.00 2005 3007.00 707 710.10 1140 1147.00 998 568 1312 1168 1099 999.50 571.40 1323.60 1172.00 1102.00
Apr Dec
Dec Dec
02nd Dec 2011
Disclaimer
The views expressed are based purely on Technical studies. The calls made herein are for information purpose only. The information and views presented here are prepared by Matrix Solutions and his associates. The information contained herein is based on their analysis of the Charts and up on sources that are considered reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended on this Website may not be suitable for all investors. Past performance may not be indicative of future performance. Some of the securities/commodities presented herein should be considered speculative with a high degree of volatility and risk. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. 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DAILY COMMODITY OUTLOOK

02nd Dec 2011