Evening levels

Dear Team,



Please find below Evening Commodity Levels



Evening Commodity Levels



MCX Gold Oct Trend Down Support S1 26610 S2 26500 Resistance R1 26840 R2 26950

Spot Gold Trend Down Support S1 1133 S2 1128 Resistance R1 1144 R2 1149

NCDEX GoldHedge Sept Trend Down Support S1 24110 S2 24030 Resistance R1 24290 R2 24380

MCX Silver Dec Trend Down Support S1 34750 S2 34500 Resistance R1 35300 R2 35600

Spot Silver Trend Down Support S1 14.35 S2 14.18 Resistance R1 14.71 R2 14.89

NCDEX SilverHedg Nov Trend Down Support S1 31100 S2 30900 Resistance R1 30550 R2 30800



LME Copper Trend Down Support S1 5030.00 S2 5000.00 Resistance R1 5105.00 R2 5145.00

MCX Copper Nov Trend Down Support S1 340.00 S2 338.00 Resistance R1 345.00 R2 348.00

MCX Zinc Sept Trend Down Support S1 119.50 S2 118.70 Resistance R1 121.20 R2 122.10

MCX Lead Sept Trend Down Support S1 114.30 S2 113.50 Resistance R1 116.00 R2 116.80

MCX Aluminium Sept Trend Down Support S1 105.40 S2 104.60 Resistance R1 106.80 R2 107.50

MCX Nickel Sept Trend Down Support S1 646.00 S2 638.00 Resistance R1 662.00 R2 670.00



MCX Crude Trend Down Support S1 2910 S2 2880 Resistance R1 2975 R2 3010

Nymex Crude Oct Trend Down Support S1 43.70 S2 43.20 Resistance R1 44.75 R2 45.30

MCX Natural Gas Sept Trend Down Support S1 174 S2 172 Resistance R1 179 R2 182



US Economic Data



Commodity Alert: Today's US Economic Data



5:45pm ADP Non-Farm Employment Change Forecast 204K Previous 185K

6:00pm Revised Nonfarm Productivity q/q Forecast 2.9% Previous 1.3%

6:00pm Revised Unit Labor Costs q/q Forecast -0.5% Previous 0.5%

7:30pm Factory Orders m/m Forecast 0.8% Previous 1.8%



Commodity Alert:  EIA Inventories Forecast Crude Oil +0.03 mbbl, Gasoline -1.32 mbbl, Distillate +0.92 mbbl Actual to release at 8.00 PM



Fundamental Outlook



Gold prices will trade lower today on profit booking at higher levels coupled with anticipation of hints of interest rate hike in the US.



Oil prices are expected to trade lower today as weak Chinese data raises concerns on the demand side while possibility of OPEC meeting also looks dim in turn exerting downside pressure on oil prices.



We expect LME Copper prices to trade lower as investors will be cautious ahead of crucial ADP Non-Farm Employment Change data for cues on the US economy. However, growing expectations for a dovish stance in the wake of the market turmoil in the upcoming ECB press conference will restrict sharp fall.