CAPITALSTARS RESEARCH VIEW ON COMMODITY MARKET- 02 FEB TO 07 FEB 2015

02^ND FEBRUARY TO 07^TH FEBRUARY 2015

A VERY GOOD EVENING TO ALL INVESTORS & CLIENTS...

I AM HERE TO GIVE THE FORECAST OF COMMODITY MARKET IN THE COMING WEEK i.e. 02^ND JAN TO 07^TH JAN 2015.....

PRECIOUS METALS:-

IN THE WEEK WE HAVE SEEN GOOD VOLATILITY IN THE PRECIOUS METALS. BOTH GOLD & SILVER HAS SHOWN VOLATILE MOVEMENT UNDER THE IMPACT OF INTERNATIONAL MARKETS EVENTS. IN THE COMING WEEK, PRECIOUS METALS ARE EXPECTED TO REMAIN VOLATILE.

GOLD APRIL CONTRACT IS WELL SUPPORTED BY THE FUNDAMENTAL REASONS. U.S.DATA CAME MIXED THIS WEEK & U.S. FEDERAL RESERVE SAID THAT INTEREST RATES WILL REMAIN UNCHANGED TILL JUNE 2015. GOLD FEB CONTRACT CAN MOVE UPWARD TO THE LEVELS OF 28200-28250 & THEN 28550 TO 28700 LEVELS BREAKING RESISTANCES OF 28300 & 28600 LEVELS.

SUPPORTS ARE AT 27250-27200 & 26850 LEVELS.

COMEX MARKET SUPPORTS ARE AT 1258 OUNCE & 1232 OUNCE & RESISTANCE ARE AT 1305 OUNCE & 1323 OUNCE.

SILVER MARCH CONTRACT SHOWN BEARISH MOVEMENT AFTER FED ANNOUNCEMENT OF KEEPING INTEREST RATE UNCHANGED TILL JUNE 2015. & MADE FRESH LOW OF 37166 LEVELS. IT IS EXPECTED TO REMAIN BEARISH & CAN FALL FURTHER TO 37200 & 36800 LEVELS BREAKING SUPPORTS OF 37350 & 36850 LEVELS.

RESISTANCES ARE AT 38850-38950 & 39500 LEVELS.

COMEX MARKET SUPPORTS ARE AT 16.53 CENT & 15.82CENT & RESISTANCE ARE AT 18.15 CENT & 19.06 CENT.

BASE METAL SEGMENT:-

IN THIS WEEK WE HAVE SEEN VOLATILE MOVEMENT IN THE BASE METALS SEGMENT, PARTICULARLY COPPER FEB CONTRACT FALL AROUND 0.44%. COPPER FEB CONTRACT HAS MADE LOW OF 332.80 LEVELS.
IN THE COMING WEEK, WE COULD SEE SOME RECOVERY IN COPPER PRICE & IT CAN MOVE UP TO 347 TO 350 LEVELS ON UPSIDE. COPPER FEB CONTRACT HAVE GOOD SUPPORT AT 336 & 332 LEVELS. RESISTANCES ARE AT 349-351 & 356-358 LEVELS.

COMEX MARKET SUPPORTS ARE AT 2.42 MT & 2.35 MT & RESISTANCE ARE AT 2.56 MT & 2.62 MT.

ENERGY SEGMENT:-

CRUDE OIL FEB CONTRACT TRADED ON LOWEST LEVEL IN ALMOST 6 YRS WITH U.S. DoE INVENTORY NO. CONTINUING TO DISAPPOINT. CRUDE STOCKPILES EXPANDED TO MOST IN MORE THAN 3 DECADES. AMONGST THE CUES FROM OTHER SIDE OF THE WORLD, SAUDI ARABIA THE WORLD’S LARGEST PRODUCER IS SEEN CONTINUING ITS OUTPUT HIGH. OPEC ALSO COLNTINUE TO RESIST CALLLS FOR CUTTING OUTPUT.

IN COMING WEEK, WE COULD SEE RANGE BOUND MOVEMENT IN THE OIL PRICE. OVERALL, CRUDE OIL IS EXPECTED TO REMAIN BEARISH TILL IT IS TRADING BELOW 3100 LEVELS & SELL ON RISE IS SUGGESTED ON UPWARD MOVEMENT. CRUDE OIL FEB CONTRACT HAVING RESIATANCES AT 2900 & 2970 SUPPORTS ARE AT 2760 & 2670 LEVELS.

IN NYMEX MARKET, CRUDE OIL HAVING SUPPORTS AT 44.73 BARREL & 41.78 BARREL. RESISTANCES ARE AT 49.48 & 51.28 BARREL.

MARKET HAS WITNESSED CRUCIAL DOWNWARD MOVEMENTS IN NATURAL GAS THIS WEEK. IN THE COMING WEEK TOO, NATURAL GAS FEB CONTRACT IS EXPECTED TO REMIN IN BEARISH PHASE & CAN COME DOWN TO 160-158 & 153 LEVELS ON BREACHING SUPPORTS OF 162 & 156 LEVELS TECHNICALLY. FUNDAMENTALLY, MORE THAN 48 STATES OF U.S. IS EXPERENCING MILD TO WARMER TEMPERATURE & PLENTYFULL SUPPLIES IN DECEMBER & IT WILL EXPECTED TO BE CONTINUE IN COMING WEEK TOO.   
IN NYMEX MARKET, NATURAL GAS HAVING SUPPORTS AT 2.48 & 2.34 MMBTU. RESISTANCES ARE AT 2.88 & 3.14 MMBTU.