Commodity Mcx Gold steadies as market awaits U.S. GDP data

• Gold steadied on Friday following a week of dreary trading as the market anticipates a possible guide on U.S. interest fees from U.S. 2th from last quarter GDP information expected later in the day.
• Spot gold was minimal changed at $1,266.42 an ounce at 1136 GMT while U.S. Mcx gold futures dropped 0.2% to $1,267.10.
• A solid GDP reading for the global's greatest economy will strengthen the case for a rate increment present year, making non-yielding assets, for example, gold less alluring while boosting the dollar and U.S. treasuries.
• The dollar index, which measures the greenback against a wicker container of Currencies, was scarcely changed and trading almost 9-month highs at 98.793.
• Demand for bullion in India is relied upon to get amid the Dhanteras and Diwali celebrations, when gold is generally given as a blessing. In different precious metals, silver was flat at $17.60 an ounce and platinum increased 0.5% to $967.60.
• Silver was on follow for its greatest week after week pick up in 5 while platinum was heading towards its greatest week in 3 months.
• A Reuters survey on Friday demonstrated that platinum costs are set to growth one year from now to their most noteworthy since 2014 on a normal premise however would stay at a discount to gold.
• Palladium increased 1.3% to $618, having prior moved a 16-week low of $608.47.

Oil fall as opec analysis meet on planned output reduces

Mcx Oil was down Friday as traders weighed gain the chances of a planned output reduce by OPEC. U.S. crude was fall 23 cents, or 0.46 Percent, at $49.49 at 07:00 ET as Brent crude shed 0.26 Percent to $50.34.

OPEC Anlysis Friday gathered in Vienna for talks on the projected production reduce to 32.5-33 million barrels a day. OPEC is due to hold a formal meeting on November 30 in Vienna to seal a deal to address a global supply glut.

Iraq and Iran have showed they don't want to reduce output, while non-OPEC member Russia is leaning toward a production freeze.

Baker Hughes U.S. rig count figures for the latest week are due for publish later in the session.
The number of rigs presently operating in the U.S. stands at 443, the maximum range since early February.

The dollar was firm at upper ranges. A stronger dollar undermines demand for oil. Open Commodity Trading Account free trading tips.

Trading Symbol	Pivot Point	R1	R2	R3	S1	S2	S3
GOLD	29875	29920	30006	30051	29789	29744	29658
SILVER	42154	42282	42448	42576	41988	41860	41694
CRUDEOIL	3314	3340	3384	3410	3270	3244	3200
NATURALGAS	202.7	206	211.2	214.4	197.4	194.2	189
NICKEL	682.8	690.4	699.6	707.2	673.6	666	656.8
ALUMINI	112.3	113.2	114.32	115.18	111.18	110.32	109.18
LEAD	137.2	138.6	139.58	140.97	136.17	134.78	133.77
ZINC	156.6	157.45	158.6	159.45	155.45	154.6	153.45
COPPER	318.7	321.07	323.78	326.17	315.97	313.58	310.87

 

Crude Trading Tips: How to Trade on Inventory Report

MCX Crude Oil Trading on Inventory Day. Trading Crude oil Inventories for Sure profit based on Inventory Report. Learn, How to Trade Crude Oil on Inventory Data on Wednesday.

Inventory Report: EIA (U.S Energy Information Administration) gives Stock/Storage Report of Crude Oil each week, which is recognized as Inventory Report.

Inventory Report Time: 8:00PM

Inventory Report Day: Wednesday

But if there is any Holiday than Inventory may be published on next day.  From EIA website, you can find exact dates of Inventory. Ensure Here, “Crude Oil Inventory Dates.”

This approach can help to Earn Big Profits in MCX Crude Oil.

Inventory Reports:

Only Focus Actual and Previous Inventory Status.

Actual: present Inventory Report.

Previous: Previous Inventory Report.

Here are some Inventory Reports:

History	Actual	Forecast	Previous
Jan 21, 2016	4.0M	3.3M	0.2M
Jan 13, 2016	0.2M	1.9M	-5.1M
Jan 6, 2016	-5.1M	0.7M	2.6M
Dec 30, 2015	2.6M	-1.8M	-5.9M
Dec 23, 2015	-5.9M	1.4M	4.8M

How to Trade Crude Oil on Inventory Report?

Step: 1 Time of Trading: (8:15 PM)

As Inventory Report is published at 8:00, various unsafe traders’ trade at 7:58 or 7:59, means before 2-3 minute of inventory publish. You can Earn Very Big profit if trading close to 8:00 clock because extremely FAST movement would be there. But you can also LOSS huge Capital. So trading in Crude oil before 8:00 pm on Inventory day is very unsafe.

For Safe Trading, We recommend to Trade at 8:15 pm or amid 8:15 to 8:20

Step: 2 Stop Losses and Target:

Stop Loss: On Inventory day, stay Cost-2 cost or Max 5 point SL when Crude Move 15-25 point in revenue. 

Else wait for 25 Minutes, if still in Loss than EXIT. But always take “Buy/Sell Decision” based on lower declared factor. (Step: 3)

Target: keep on Trade Till 10:50 pm, if there is decent small difference amid “Actual” and “Previous” Inventory than book profit (BS) as per your own verdict.

Step3: BUY/SELL Decision:

You can take Buy/Sell verdict based on 2 effects, (1) Inventory Data, (2) Total Buyers/Sellers.

Buy Crude if “Actual Data” is lesser than “Previous Data”. Or

If Total purchasers are upper (Above 1500 point variation).

Sell Crude if “Actual Data” is upper than “Previous Data”. Or

If Total Sellers are upper (Above 1500 point variation).

Exa1: Crude oil Trading on Inventory Report, Date: April 01, 2015

History	Actual	Forecast	Previous
April 01, 2015	4.0M	4.2M	8.2M

As per Inventory report, ‘Actual Data is: 4.8M’, and ‘Previous was 8.2M’.

It means Actual data is lesser than last data, so if Production is low than rates would go UP because if supply is low and demand is high than prices would be improved.

If Actual is lower compare to Previous than purchase Crude. 

          

Crude-Oil-Inventory-1-April-2015

Crude-Inventory-Chart-1-April-2015

Exam2: Crude oil Trading on Inventory Report, Date: April 08, 2015

History	Actual	Forecast	Previous
April 08, 2015	10.9M	3.3M	4.8M

As per Inventory report, ‘Actual Data is: 10.9M’, and ‘Previous was 4.8M’.

Actual Data is upper than Previous. It means Storage/Production is upper than last. It means Production/Storage is upper than demand,

If Actual is higher compare to Previous than SELL Crude.

 

Crude-Oil-Inventory-8-April-2015

Crude-Oil-Inventory-Chart-8-April-2015

(Source: unlocktrading)