8/3/2019 Commodity Outlook 02 Nov 2011
2/3
DAILY COMMODITY OUTLOOK 02nd
Nov, 11
2
COMMODITIES TO WATCH
NCDEX Jeera Nov CMP`14309.00
Technical Out look & Trading Strat egy:-
The key observation to be made on the daily price chart of Jeera
is that the price action of this commodity since
07th
Oct, 2011 to till date has take the shape of a bearish head
& shoulders pattern with the neckline supportplaces at
the`14250 levels. Traders would note that this is an extremely
bearish price pattern and a breakdown
below the neckline support can lead to severe decline in the
price of an index/stock/commodity. Some of the other
technical factors that support the bearish price action are that
prices werent able to sustain above the moving
average clusters on pullbacks and the momentum indicators
continue to trade in sell mode.
We recommend traders to take short positions on a sustained
break below `14240 levels with a stop loss placed
above `14491 levels for downside targets of`13925 /`13760
levels.
INVENTORY DATA
LME Warehouse Stocks (Inventory) and Volume01 Nov 2011
MetalsInventory Volume
MT +/- MT +/-
Aluminum 4,548,025 0 7,695,225 3,240,650
Al Alloy 137,240 0 28,520 -16,500
NASAAC 154,340 -40 59,900 -3,640
Copper 424,750 -4,625 4,391,275 460,950
Lead 387,425 -375 1,115,500 191,725
Nickel 86,676 168 140,682 -11,352
Tin 16,120 -325 31,315 10,720Zinc 777,275 -3,600 2,149,700
268,900
KEY SUPPORT RESISTANCE LEVELS
Commodity Support 1 Support 2 CLOSE-PRICE Resistance 1
Resistance - 2
NCDEX Chana(Nov) 3370 3332 3407 3440 3472
NCDEX Pepper(Nov) 34070 33870 34270 34525 34780
NCDEX Soya Oil(Nov) 614 611 616.40 620 623
NCDEX Jeera(Nov) 14226 14144 14309 14420 14532
NCDEX Guarseed(Nov) 4404 4362 4446 4491 4536
8/3/2019 Commodity Outlook 02 Nov 2011
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DAILY COMMODITY OUTLOOK 02nd
Nov, 11
3
MCX Copper 379 373 384.95 391 398
MCX Nickel 919 906 931.80 954 976
MCX Lead 98 97 98.80 100 102
MCX Silver 53813 52312 55313 56877 58440
MCX Gold 27223 26921 27525 27691 27857
MCX Crude 4427 4362 4493 4552 4612
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