Daily Commodities Insight

Transcription

1 Daily Commodities Insight

2 Market-moving economic news Confidence among Japanese manufacturers jumped in January to an 11- year high, the Reuters Tankan poll showed on Monday, highlighting corporate optimism driven by nearly two years of uninterrupted economic expansion and a buoyant stock market. The monthly poll, which tracks the Bank of Japan's (BOJ) closely-watched tankan quarterly survey, followed a key gauge of capital spending out last week showing Japan Inc's readiness to spend some of their huge cash pile, potentially spurring a virtuous cycle of investment, consumption and growth. Economic Calendar TIME ZONE DATA FORECAST PREVIOUS today EUR Eurogroup Meetings 14:30 USD Chicago Fed National Activity (Dec) :30 USD 3-Month Bill Auction 1430,00% 17:30 USD 6-Month Bill Auction 1600,00% Change LME Official Prices $/ton 3 Month $ (2 Ring Time) 19/01/ /01/2018 % Change Copper ,35% Zinc ,15% Nickel ,60% Aluminium ,49% Al. Alloy ,54% Lead ,58% Tin ,49% 2

3 Copper 3 month $/t - Time Frame 4h As expected the prices were rejected by the resistance at 7160 area, now it's in a trading range between this level and $7040. Aluminium 3 month $/t - Time Frame 4h $ $ $ $ After approaching the highs at $2,300, the prices dropped. We expected interlocutors movements between $2,300 and $2,200.. $ $ $ $

4 Zinc 3 month $/t - Time Frame 4h The $3400 area held, starting a minimal reaction. Pay attention to the maximums at $3,440 zone. Nickel 3 month $/t - Time Frame 4h $ $ $ $ Nickel prices still remain in a sideways range between $13,200 and $ $ $ $ $

5 Lead 3 month $/t - Time Frame 4h False break up of $2610 area, with prices come back to $2,600. Pay attention to new further attempts to violate this level. Tin 3 month $/t - Time Frame 4h $ $ $ $ The tin is close to the 20600$ resistance, observe possible reaction. $ $ $ $

6 Gold 3 month $/oz - Time Frame 4h The channel base (now resistance) at 1336$ held and 1324$ is the next support to be controlled. Silver 3 month $/oz - Time Frame 4h $ $ $ $ Below the rising T-line and SMA a new test of 16,85$ could be in the cards. Next support at 16,90$. $ 16,80 $ 16,90 $ 17,15 $ 17,30 6

7 Palladium 3 month $/oz - Time Frame 4h Potential reaction for the palladium that is close to the 1090$ support. $ $ $ $ Platinum 3 month $/oz - Time Frame 4h The platinum can exceed the last mixmum at 1020$. $ 980 $ $ $

8 Legend Slow moving average Fast moving average 1 Fast moving average 2 Momentum RSI Interpretation and use of the report The trend shows the main direction of prices. The short-term trend is referred to a period of time from 3 4 to 15 days. The medium-term trend is referred to a period of time from two-three to eight weeks. In a rising trend the resistance is a price level opposing a further rise. As a result its steadiness may revert the trend, while its violation favours the rise. The rising scenario is confirmed by the overcoming of the resistance levels. In a falling trend the support is a price level opposing the further fall. Because of it its steadiness may revert the trend, while its violation favours the fall. The falling scenario is confirmed by the violation of the support levels. The moving average is a very important trend direction. When prices are over the average, usually the market is in an upturned phase while, when it s under the average it s in a down turned phase. The break of a moving average is significant either for the break or for the confirmation of the trend in progress. When the price line breaks the moving average from down upside we have a rising signal. Vice versa, when we have a break from up downwards we have a falling signal. The momentum indicator shows the trend strength in progress. It supplies indications about the possibility that the trend goes on along the started direction or it changes it. Furthermore it shows excess situations called of overbought or oversold. If the moment is positive we are on an up turned trend, while if the trend is negative we are on a falling trend. It it s neutral it means that the market has taken no precise direction yet. Disclaimer This document gives pure indicative suggestions and, according to the primary and secondary regulations in force in Italy, it represents neither an invitation to the public saving or a request for investments, a promotional message or recommendation to invest in any of the financial instruments in case they are mentioned in this report. No case Cell-data can be considered as responsible for the incidental spreading to the public of the present documentation (or of its contents) or for the investment choices done accordingly. 8