Daily Archives: October 17, 2014

17Oct

Comex Commodity Trading Signals and Market News – 17 October 2014

INTERNATIONAL COMMODITY NEWS :

Crude oil prices rebounded smartly in early Asia on Friday as investors pulled back from recent bearish sentiment on supply. On the New York Mercantile Exchange, West Texas intermediate which expired at settlement Thursday, settled up 0.8% at $84.47 a barrel on ICE Futures Europe Thursday. December futures rose 2% to $85.82 a barrel The U.S. Energy Information Administration reported early that U.S. crude stockpiles rose by 8.92 million barrels last week, exceeding market forecasts for a gain of 2.78 million barrels.

Gold prices held nearly flat in early Asia on Friday with few immediate data cues in the region on the day ahead On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,238.80 a troy ounce, down 0.01%, after hitting an overnight session low of $1,236.10 and off a high of $1,245.50. gold futures traded steady to lower,

Natural gas futures moved lower on Thursday on news of rising U.S. stockpiles, while forecasts for mild fall weather also pressured the commodity lower, though bottom fishing brought prices up from earlier lows. On the New York Mercantile Exchange, natural gas futures for delivery in November were down 0.12% at $3.796 per million British thermal units during U.S. trading. The commodity hit a session low of $3.750, and a high of $3.83, Natural gas futures were likely to find support at $3.725 per million British thermal units, the low from July 28, and resistance at $3.955, Tuesday’s high.

Crude futures slid on Thursday after data revealed U.S. inventories rose more than markets were expecting last week, while soft Chinese inflation figures softened the commodity as well by stoking concerns that global supply far outstrips demand In the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in November traded down 0.42% at $81.44 a barrel during U.S. trading. New York-traded oil futures hit a session low of $79.86 a barrel and a high of $81.79 a barrel.

Gold futures traded steady to lower on Thursday, buoyed earlier after soft Chinese inflation data sparked global growth concerns that fueled safe-haven demand for the precious metal, though upbeat U.S. data kept the commodity in negative territory On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,241.60 a troy ounce, down 0.26%, up from a session low of $1,236.10 and off a high of $1,245.50 .Futures were likely to find support at $1,220.00 a troy ounce, Wednesday’s low, and resistance at $1,25.30, Wednesday’s high. Official data released on Wednesday showed that Chinese inflation for September slowed to 1.6% on-year from 2.0% in August, below expectations for a reading of 1.7%.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1242 TGT 1246,1251 SL 1237
  • SELL GOLD BELOW 1232 TGT 1228,1223 SL 1237

Fore more information about Comex Commodity Market Trading or Signals, Please visit- EPIC RESEARCH PRIVATE LIMITED.

17Oct
forex-trading3

IForex Market Trading Signals and News – 17 October 2014

TRADING TIPS :

  • Forex-Dollar recovers from previous day’s losses, U.S. data on tap .
  • Forex-GBP/USD almost unchanged, near 11-month lows .
  • Forex-EUR/USD pushes lower as market sentiment wanes.

GBP/USD
GBP/USD hit 1.5951 during European morning trade, the session low; the pair subsequently consolidated at 1.6002, easing 0.11%.The pound was almost unchanged against the U.S. dollar on Thursday, still hovering close to an 11- month low as the greenback recovered from the previous day’s sharp losses due to weak U.S. economic reports.Cable was likely to find support at 1.5873, Wednesday’s low and an 11-month low and resistance at 1.6103, the high of October 14.Official data showed that U.S. retail sales fell 0.3% last month, more than the expected 0.1% slip, while core retail sales, which exclude automobiles, dropped 0.2% in September, confounding expectations for a 0.3% gain.

EUR/USD
EUR/USD hit 1.2706 during European early afternoon trade, the session low; the pair subsequently consolidated at 1.2737, retreating 0.76% The pair was likely to find support at 1.2623, Wednesday’s low and resistance at 1.2886, Wednesday’s high and a three-week high.that euro zone consumer price inflation remained at 0.3% in September, in line with expectations.Core CPI, which excludes food, energy, alcohol, and tobacco, ticked up to 0.8% last month from an initial estimate of 0.7%.The euro pushed lower against the U.S. dollar on Thursday, after euro zone inflation data came out in line with expectations as mounting concerns over global economic growth continued to dominate market sentiment.

RECOMMENDATION :

1. Buy GBP/USD Above 1.6022-TG:1.6042/1.6072 SL 1.5992
2. Sell GBP/USD Below 1.5954-TG:1.5934/1.5904 SL 1.5984

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