Updates on Bullion, Base Metals, and Energy Levels 14th Jan 2020
14/1/2020

Updates on Bullion, Base Metals, and Energy Levels 14th Jan 2020

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Gold traded lower on Tuesday as risk appetite was whetted by stronger-than-expected China economic data and the imminent signing of a preliminary U.S.-China trade deal. On the other hand, Crude oil traded sideways as investors focused on the signing of a preliminary trade deal between the United States and China, the world's top oil consumers, and on expectations of a drawdown in U.S. stockpiles.

Today, traders should concentrate on the CPI m/m and Core CPI m/m from the house of US which will impact on metal and Bullions segment. If the forecast figure match with the actual data then the possible impact are as follows:




Time & DataPrevious
Expected
Forecast
USD 7:00 PM: CPI m/m
 (0.3%)
 (0.2%)
The forecast figure is neutral for Bullions and Base metal.
USD 7:00 PM: Core CPI m/m
(0.2%)
(0.2%)
Forecast figure is neutral for Bullions and Base metal




Technical Levels



Gold (Feb)
Image result for Gold

Support at 39250 and Resistance at 39600.

Break and sustain below 39250 will take it to 38900—38800 or else it could its resistance again.

Fresh buying will do on a close above 39600.

Trade with the levels only.



Natural Gas (Jan)

Image result for Natural Gas

Support at 153 and resistance at 159.

Break and sustain above 159 will take it 163—165 or else it could test its support again.

Fresh selling will do on a close below 153.

Trade with the levels only. 



Nickel (Jan)
Image result for Nickel

Support at 1008 and Resistance at 1025.

Break and sustain below 1008 will take it 995—990 or else it could test its resistance again.

Fresh buying will do on a close above 1025.

Trade with the levels only. 



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Tags:Gold & Silver, Basemetal, Crude & Natural Gas, Full MCX

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