Commodity Online Daily Technical Analysis

Base metals edge lower on firm US dollar

Mixed sentiments in the global markets due to concerns with respect to global economic growth coupled with a stronger dollar exerted downside pressure on the base metal prices on the LME on Thursday.

Crude oil declines on rising US inventories

Nymex crude oil prices declined by 1.3 percent yesterday which is at a six-week low, on the back of rise in US crude oil inventories which indicated demand concerns from the country. Additionally, a stronger dollar also acted as negative factor fo

Precious metals trade higher on US employment data

Spot gold prices rose around 1 percent in yesterday’s trading session as upbeat unemployment claims data from the US helped send spot gold to a two-month high.

MCX cardamom edges higher on rising spot demand

Cardamom February prices extended the uptrend on follow through buying on Thursday.

NCDEX chilli weakens on poor export demand

Chilli February resumed down trend on poor domestic and export demand.

NCDEX jeera edges lower on arrival pressure

Jeera February futures prices resumed down trend amid profit booking on previous gains on Wednesday.

NCDEX turmeric weakens on profit booking

Turmeric April took sharp corrections on profit booking on previous gains on Thursday.

NCDEX pepper gains on short covering

Pepper February futures prices took smart recovery on previous huge losses during Thursday’s session. Futures started the day on higher positive note on short covering.

India soy complex declines on poor domestic demand

Soybean prices declined in the second session owing to the weak buying activities across major spot markets. Spot prices dropped marginally by `10-15/quintal across major markets as lower crushing margin in during current week kept the buyers inac

NCDEX turmeric jumps on rising export demand

Turmeric production for the year 2011-12 is projected at historical high of 82 lakh bags (1 bag= 70 kgs) compared to 69 lakh bags in 2010- 11. Erode is expected to produce 45 lakh bags of turmeric a rise of 29% as compared to previous year.

NCDEX jeera falls on higher output concerns

Jeera prices continued to remain bearish and traded near two percent circuit and settled 0.69% lower on Thursday.

NCDEX pepper rises on short covering

Pepper Futures witnessed short coverings and settled 0.29% higher on Thursday. Spot prices traced the Futures and settled 0.30% higher yesterday. Fragile demand from the overseas and domestic buyers amidst lower arrivals is keeping the prices stea