U.S. zinc exports rose 96.4% in May from the previous month, and was up 154.6% from the previous year, the Commerce Department reported. Zinc yesterday we have seen that market has moved -0.88%. Market has opened at 86.05 & made a low of 84.8 versus the day high of 86.6. The total volume for the day was at 23392 lots and the open interest was at 6920.Now support for the zinc is seen at 84.5 and below could see a test of 83.7. Resistance is now likely to be seen at 86.3, a move above could see prices testing 87.3.
Copper closed with slight losses after a choppy session that saw prices move higher and lower amid a lack of trader conviction. A weaker-than-expected U.S. retail sales report and a choppy equity market limited copper futures' upside potential, while a soft dollar provided underlying support. Copper has touched a low of Rs 310.55 a kg after opening at Rs 311.8, and last traded at Rs311.25.For today market is looking for the support at 309.4, a break below could see a test of 307.5 and where as resistance is now likely to be seen at 314.3, a move above could see prices testing 317.4.
Crude oil prices ended higher after the government data showed a bigger than expected draw down in crude inventories. The Energy Information Administration reported a decline of 5.1 million barrels in US crude inventories in the week ended July 9. U.S. oil refining capacity fell for the first time since 2003 as the weak economy reduced demand for gasoline, diesel fuel and other petroleum products, the Energy Information Administration said. Now support for the crude is seen at 3588 and below could see a test of 3553. Resistance is now likely to be seen at 3649, a move above could see prices testing 3675.
Silver edged higher on some positive industrial sentiment that outweighed the lack of safe-haven demand on a quiet day for U.S. equities. Silver opened the day at 29031 on dollar resilience, before it slipped to a low of 28962. The metal later mounted a response, receiving a confidence boost from avaricious funds that entered the metal on improving gold and base metals, sending it to a high of 28229. The commodity was depleted closing at 29135.Now support for the silver is seen at 28965 and below could see a test of 28795. Resistance is now likely to be seen at 29302, a move above could see prices testing 29469.
Gold fell as equities and currency markets were stable, leaving little demand for gold as a rainy-day asset. Gold opened at 18430, as the dollar recuperated after being subdued the previous day. After substandard retail sales dampened investor sentiment, the metal retorted to a high of 18505 as the greenback lost its luster. The risk-taking was short-lived however, as the dollar recovered, sending gold a low of 18335, before it mustered a close of 18383.Now support for the gold MCX is seen at 18310 and below could see a test of 18238. Resistance is now likely to be seen at 18480, a move above could see prices testing 18578.
New Delhi, July 15 : Remember the Hollywood movies where you drool as much over the clothes and styling as over the plot? Now comes an Indian movie that promises to give glimpses of high street fashion in India and set a benchmark for Bollywood.Social Venture Capitalist is a regulated UK-based broker that provides traders with access to diverse financial markets (Forex, stocks, cryptocurrencies, and commodities) through its proprietary so
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