Commodity Evening Session

What are the major economic data releases which

came in during the Asian and European trading
session?
• German Flash Manufacturing PMI (Jan) declined to 60.2
against the previous value of 60.7.
• German Flash Services PMI (Jan) increased to 60 against
the previous value of 59.2.
• Euro Zone Flash Manufacturing PMI (Jan) declined to 56.9
from the previous value of 57.1.
• Euro Zone Flash Services PMI (Jan) increased to 55.2
against the previous value of 54.2.
• Euro Zone Industrial New Orders m/m declined to 2.1%
from the previous value of 1.4%.
What are the key support and resistance levels to look
out for COMEX trading session. Let us begin with Gold?

• Gold witnessed some buying interest coming during the

yesterday’s trading session after witnessing fall for two
successive days.
• Prices are hovering around the key resistance level of
$1350 ahead of the US trading session.
• $1338 will be the key support level to watch out for.
$1327 will be acting as a key support level to watch out
for if $1338 is broken with good volumes .
• RSI is currently hovering above the over sold territories
of 35.17 levels ahead of the COMEX trading session.
 Silver
• Silver witnessed buying interest coming from the key support
levels of $27.5 during the Asian and European trading session.
• $28 will be the key resistance level to watch out for intraday
trading during COMEX session.
• A successful breakout above this level could see the prices
testing the next key resistance level of $28.6 on the upside.
• A successful breakdown below the key support level of $27.5
will see the prices testing the support level of $26.83.
• RSI is currently reading at 32.99 levels hovering above the over
sold territories levels ahead of the COMEX trading session.
 Crude oil
• Crude oil saw selling interest coming in as the prices broke
the key support level of $89 levels.
• $89 will be the key resistance level to watch out for intraday
trading during NYMEX session.
• A successful breakout above this level could see the prices
testing the next key resistance level of $90.10 on the upside.
• A successful breakdown below the key support level of
$88(50 DSMA) could see the prices correcting to $87.69
levels.
• RSI is currently hovering around 33.53 levels ahead of the
NYMEX trading session.
 Natural gas
• Natural gas witnessed continuation of Friday’s buying
interest during the today’s Asian and European trading
session.
• A correction happening from the level of $4.68 could see
the prices testing the $4.54 levels on the downside.
• $4.85 will act a s good resistance level for intraday
trading. A successful breakout above this level could see
the prices retesting the $5.00 levels on the upside.
• RSI is currently hovering around the over sold territories
of 65.23 levels in the daily charts ahead of the NYMEX
trading session.
 Copper

• Copper witnessed some buying interest as the prices

managed to hold the key support level of $425.
• $425 will be acting as an intermediate support level for
intraday trading during COMEX session.
• $434 will be the upside resistance level to watch out for
in case of a successful breakout above the $444 levels.
$420 will act as a good positional support level for the
prices.
• RSI is currently approaching towards the oversold
territories of 49.33 levels in the daily charts ahead of the
COMEX trading session.