2. Market cues
• Germany GDP Q3 y/y came at 3.9% as against previous
value of 3.1%.
• Euro zone GDP Q3 y/y came at 1.9% as against previous
value of 1.9% .
• Euro zone Industrial Production y/y came at 5.2% as against
previous value of 7.1%.
• US Michigan Sentiment Preliminary (Nov) consensus value @
69 against the previous value of 67.7
• Day 2 of G20 Meetings .
3. Gold
• Gold witnessed profit booking during the Asian
trading session after it broke the key support
level of $1400 levels.
• For today’s trading, $1382levels will be acting
as a good support level for the prices. A break
down with volumes below this level could see
the prices testing the $1370 levels.
• Resistance for the prices lies at the $1410
levels. A breakout with volumes could see the
prices testing the $1423 levels.
4. Silver
• Silver prices witnessed some profit booking
coming in from the key resistance level of
$27.7.
• Silver prices have good support at the $26.86
levels. A break down below this level could see
the prices testing the $26.37 levels on the
downside.
• Prices have good resistance at the $27.80
levels. A successful break out from this level
with convincing volumes could see the prices
testing the next resistance level of $28.20.
5. Crude oil
• Crude oil prices witnessed some profit booking
coming as it broken below the crucial
resistance level of $88.
• Crude oil has immediate support at $85.6.
levels. A successful break down from this level
could see the prices testing the $84.6 levels.
• $88 will act as a strong resistance level for the
prices. A break out with volumes from this level
could see the prices testing the $89.2 levels.
6. Natural gas
• Natural gas witnessed some sell off as the
supplies rose to record increasing the
stockpiles.
• Key support for the prices lies at $3.86 levels.
A breakdown from this level could drag the
prices down to the key support level of $3.72.
• Immediate resistance lies at $4 levels which
was tested during last weeks trading session. A
successful breakout from this level with
volumes could see the prices testing the $4.21
levels.
7. Copper
• Copper witnessed profit booking coming in
during the Asian trading session on Speculation
that China Will Increase Rates.
• A breakdown below the key support level of
$390 could see the prices testing $382 on the
downside.
• $404 will act as a crucial resistance in the
coming days. A successful break out from this
key resistance level could see the prices testing
the $410 on the upside.
