Commodity market out look for 21 feb. 2017

Commodity market out look for 21 feb. 2017

Nickel (FEB) Side
Way 74740 Trend change from bearish to bullish. Consider support range 700-710 and resistance 750-780

Zinc (FEB) Up 193 Trend is positive bias and any sharp decline to good opportunity for long side. We may consider support range 180-185 and major support 165, till not break up side target 265 mark likely.

Lead (FEB) Up 154.60 Over all trend is small bull favour with consider support 150-151 ramge , holding above tese level up side towards 165 again in near term. Total Open Interest stand 2893 contracts.

Natural Gas(Feb) TREND IS DOWN CONTINUE AFTER BREAKDOWN MAJOR SUPPORT LEVEL 225. NOW LOWER SIDE SOME SUPPORT 180. OVER SOLD COUNTER AND FRESH SHORT AVOID. MAJOR RESISTANCE OFTHIS WEEK IS 195-198.

Copper(Feb) Over all trend is bullish and decline to buy side. Consider major support 386 till not break and closed below do not think bearish set up. Higher level resistance 410-415, thereafter ready to fly. Total OI stand 12930 mark and long added almost 2200 contract. Trend Decider of this week 404.

Crude(March) Very hot and we are bullish from the level of 3450 mark. We may consider support in near 3550-3500 range any dip to buy side, up side likely test 4000 mark in coming days, till not break and closed below 3450 mark. Total Open Interest stood 8152 contracts.


Gold (April) Over all trend is positive and as long as trading above 29000, buy on dip strategy continue towards 29500-29700 mark. OI stand almost 6519 contract. Trend Decider of this week 29240.