Weekly Commodity Report (22 nd -Oct-2018)

Transcription

1 (22 nd -Oct-2018) 1

2 22 nd -Oct-2018 MCX GOLD Daily Chart GOLD Commentary Fundamental News: Gold prices settled a touch lower on Friday on profit-taking from recent gains, but a weaker dollar and geopolitical worries still helped bullion coast to a third weekly gain. Technical Outlook: Gold has witnessed a range bound trade. So, Buy above with TGT & SL or else Short at with TGT & SL R R R Data to Watch: US FOMC Member Bostic Speaks, CANADA BOC Monetary Policy Report, CANADA Overnight Rate, US FOMC Member Mester Speaks, US Core Durable Goods Orders m/m, US Durable Goods Orders m/m, US Unemployment Claims, US FOMC Member Clarida Speaks, US FOMC Member Mester Speaks, US Advance GDP q/q, US Advance GDP Price Index q/q, EUR ECB President Draghi Speaks, US Revised UoM Consumer Sentiment. S S S MCX SILVER Daily Chart SILVER Commentary Fundamental News: Going into next week, Saudi Arabia's deepening political crisis with the West over the alleged murder of a missing journalist and Italy's budget woes should support bullion's safe-haven appeal, Silver was up 0.3% at $ Technical Outlook: Silver has witnessed a range bound trade. Go long above with TGT of & and maintain SL of or else Sell at with TGT & and keep SL of level. R R R Data to Watch: US FOMC Member Bostic Speaks, CANADA BOC Monetary Policy Report, CANADA Overnight Rate, US FOMC Member Mester Speaks, US Core Durable Goods Orders m/m, US Durable Goods Orders m/m, US Unemployment Claims, US FOMC Member Clarida Speaks, US FOMC Member Mester Speaks, US Advance GDP q/q, US Advance GDP Price Index q/q, EUR ECB President Draghi Speaks, US Revised UoM Consumer Sentiment. S S S

3 MCX CRUDE OIL Daily Chart CRUDE OIL Commentary Fundamental News: Crude oil markets fell again during the week, breaking through some technical barriers but we also have support just below. I think the next weekly candle is going to be crucial for the market, so therefore it s likely to be an interesting few days ahead of us. Technical Outlook: Crude Oil has close below 5030 means further support lies at 4947 range. Go long above 5220 With TGT of 5275 & 5344 and keep Sl of 5164 or else short below 5054 with TGT of 4985 & 4874 and keep stop loss of R R R S S S MCX NATURAL GAS Daily Chart Data to Watch: US FOMC Member Bostic Speaks, CANADA BOC Monetary Policy Report, CANADA Overnight Rate, US Crude Oil Inventories, US FOMC Member Mester Speaks, US Durable Goods Orders m/m, US Unemployment Claims, US FOMC Member Clarida Speaks, US FOMC Member Mester Speaks, US Advance GDP q/q, US Advance GDP Price Index q/q, EUR ECB President Draghi Speaks, US Revised UoM Consumer Sentiment. NATURAL GAS Commentary Fundamental News: The natural gas markets have gone back and forth in while trading during the week, as we are essentially neutral at this point. At this juncture, it looks as if we are getting a bit ahead of ourselves, and the previous shooting star of course has me looking at a potential pullback. Technical Outlook: Natural Gas has witnessed a mixed trend. Go Short at with TGT of & and keep stop loss of Or else Go long above with TGT of & and Keep SL of level. Data to Watch: US Natural Gas Storage. R R R S S S

4 MCX COPPER Daily Chart COPPER Commentary Fundamental News: The Comex copper price rebounded in the US morning on Friday October 19 despite weak growth in China, with potential further stimulus from the Chinese central bank expected. Technical Outlook: Copper has witnessed a profit booking rally. So, go long above with TGT of & and maintain Sl of or else go short below with TGT & and keep sl of level. R R R S S S MCX ALUMINIUM Daily Chart Data to Watch: EUR French Flash Manufacturing PMI, EUR EUR Flash Services PMI, EUR Main Refinancing Rate, EUR ECB Press Conference, US Core Durable Goods Orders m/m, US Durable Goods Orders m/m, US Unemployment Claims, US Advance GDP q/q, US Advance GDP Price Index q/q, EUR ECB President Draghi Speaks, US Revised UoM Consumer Sentiment. ALUMINIUM Commentary Fundamental News: Base metal prices have made a mixed. Technical Outlook: Aluminium has witnessed a negative bias. So, go short at with TGT of & keep SL of & Go long at with TGT of & and keep Sl of R R R Data to Watch: US FOMC Member Bostic Speaks, GBP BOE Gov Carney Speaks, EUR French Flash Manufacturing PMI, EUR EUR Flash Services PMI, EUR Main Refinancing Rate, EUR ECB Press Conference, US Core Durable Goods Orders m/m, US Durable Goods Orders m/m, US Unemployment Claims, US Advance GDP q/q, US Advance GDP Price Index q/q, EUR ECB President Draghi Speaks, US Revised UoM Consumer Sentiment. S S S

5 22 21 nd st -May Oct-2018 MCX LEAD Daily Chart LEAD Commentary Technical Outlook: Next week to debate fate of Europe s lead battery manufacturing industry. So, go short at with TGT of & and keep SL of Data to Watch: US FOMC Member Bostic Speaks, GBP BOE Gov Carney Speaks, EUR French Flash Manufacturing PMI, EUR EUR Flash Services PMI, EUR Main Refinancing Rate, EUR ECB Press Conference, US Core Durable Goods Orders m/m, US Durable Goods Orders m/m, US Unemployment Claims. R R R S S S MCX ZINC Daily Chart ZINC Commentary Technical Outlook: Zinc recording a rise at 23% week on week. So, short at with TGT of & and SL of MCX NICKEL Daily Chart Data to Watch: US FOMC Member Bostic Speaks, GBP BOE Gov Carney Speaks, EUR French Flash Manufacturing PMI, EUR EUR Flash Services PMI, EUR Main Refinancing Rate, EUR ECB Press Conference, US Core Durable Goods Orders m/m, US Durable Goods Orders m/m, US Unemployment Claims. R R R S S S NICKEL Commentary Technical Outlook: Nickel has remains in positive bias until close below 895 level. So, go long at with TGT of & SL of level. Data to Watch: US FOMC Member Bostic Speaks, GBP BOE Gov Carney Speaks, EUR French Flash Manufacturing PMI, EUR R R R S S S

6 Weekly MCX COMMODITY CHANGE Indices Close Change % GOLD SILVER CRUDE OIL NATURAL GAS COPPER ALUMINIUM LEAD ZINC NICKEL ECONOMIC CALENDER Country Economic Event Forecast Previous Date &Time JAPAN Current Account 0.23T -0.78T 9th June (5.20 AM) JAPAN Final GDP q/q 1.4% 1.5% 9th June (5.20 AM) CANADA Housing Starts 185K 195K 9th June (5.45 PM) AUD RBA Gov Stevens Speaks - - 9th June (9.00 PM) GBP BRC Retail Sales Monitor y/y - 4.2% 10th June (4.31 AM) JAPAN Tertiary Industry Activity m/m -3.3% 2.4% 10th June (5.20 AM) AUD Home Loans m/m 0.3% -0.9% 10th June (7.00 AM) CHINA CPI y/y 2.4% 1.8% 10th June (7.00 AM) CHINA PPI y/y -1.5% -2.0% 10th June (7.00 AM) EUR French Industrial Production m/m 0.3% -0.7% 10th June (12.15 PM) CHINA New Loans 750B 775B 10th 14th June GBP Manufacturing Production m/m 0.4% 0.5% 10th June (2.00 PM) Source : Forex Factory 6

7 Source : Forex Factory Weekly Commodity Report ECONOMIC CALENDER 7

8 RESEARCHED & PREPARED BY B.KESAVAMOORTHY SENIOR RESEARCH MANAGER ID: CONTACT NO: Disclaimer LAL S This report is for the personal information of the authorized recipient and is not for public distribution The information provided in the document is from information /data. available in public domain and other sources, which we believe, are reliable. We have made our best efforts to try and ensure accuracy of data however, Sky Commodities and/or any of its affiliates and/or employees shall not liable for resultant loss or damage that may arise from use of this document Sky Commodities and/or any of its affiliates and/or employees may or may not hold positions in any of the securities mentioned in the document. Investors should not solely rely on the information contained in this document and must make investment decisions based on their own investment objectives, risk appetite, investment horizon, financial strength or other parameter. The recipients of this material should take their own professional advice or consult your SEBI registered Investment Adviser for your specific Investment related advice/requirements and/or before acting on this information. The report also includes analysis and views expressed by our research team. The report is purely for information purposes and does not construe to be investment recommendation/advice or an offer or solicitation of an offer to buy/sell any securities. The opinions expressed are our current opinions as of the date appearing in the material and may be subject to change from time to time without notice. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to local law, regulation or which would subject Sky Commodities and affiliates to any registration or licensing requirement within such jurisdiction. The securities described herein may or may not be eligible for sale in all jurisdictions or to certain category of investors. Persons in whose possession this document may come are required to inform themselves of and to observe such restriction. 8