Weekly Commodity Report (12 th -Nov-2018)

Transcription

1 (12 th -Nov-2018) 1

2 12 th -Nov-2018 MCX GOLD Daily Chart GOLD Commentary Fundamental News: Gold's key support of $1,200 could also be under attack, with investors seeing little upside for the yellow metal amid the string of U.S. rate hikes forecast. Technical Outlook: Gold has witnessed a negative range bound trade. So, Buy above with TGT & SL or else Short near with TGT & SL Industrial Production y/y, US CPI m/m, US Core CPI m/m, US Core Retail Sales m/m, US Retail Sales m/m, US Empire State Manufacturing Index, US Philly Fed Manufacturing Index, US Foreign Securities Purchases, US Manufacturing Sales m/m. R R R S S S MCX SILVER Daily Chart SILVER Commentary Fundamental News: The U.S. dollar index, which measures the greenback s strength against a basket of six major currencies, shot up up 0.22%, gaining nearly 1% in all over the two past sessions and heading for a fourth-straight week of gains. Technical Outlook: Silver has witnessed a negative range bound trade. Go long near with TGT of & and maintain SL of or else Sell near with TGT & and keep SL of level. Industrial Production y/y, US CPI m/m, US Core CPI m/m, US Core Retail Sales m/m, US Retail Sales m/m, US Empire State Manufacturing Index, US Philly Fed Manufacturing Index, US Foreign Securities Purchases, US Manufacturing Sales m/m. R R R S S S

3 MCX CRUDE OIL Daily Chart CRUDE OIL Commentary Fundamental News: Iraq and Saudi Arabia agreed on Saturday to work together to stabilize oil markets, Iraq's Oil Ministry spokesman Asim Jihad said, without giving further details. Technical Outlook: Crude Oil may expect a mild recovery rally until close below 4280 level. Go long above 4522 With TGT of 4596 & 4687 and keep Sl of 4448 or else short below 4374 with TGT of 4300 & 4209 and keep stop loss of R R R Industrial Production y/y, US CPI m/m, US Core CPI m/m, US Retail Sales m/m, US Empire State Manufacturing Index, US Philly Fed Manufacturing Index, US Crude Oil Inventories, US Foreign Securities Purchases, US Manufacturing Sales m/m. S S S MCX NATURAL GAS Daily Chart NATURAL GAS Commentary Fundamental News: Prices were unaffected by a larger than expected build in natural gas inventories reported by the EIA on Thursday. The weather has been the driver and is expected to be colder than normal over the next 6-10 days which should increase heating demand driving up the price of natural gas. Natural gas stocks are less than last year and well below the five-year average range for this time of year. Technical Outlook: R R R Natural Gas has witnessed a breakout rally. Go long near with TGT of & and Keep SL of level or else Go Short below with TGT of & and keep stop loss of Data to Watch: US Natural Gas Storage. S S S

4 MCX COPPER Daily Chart COPPER Commentary Fundamental News: LME base metals prices rattled by dollar surge; copper. Technical Outlook: Copper has witnessed a negative range bound trade. So, go long above with TGT of & and maintain Stop loss of or else go short below with TGT & and keep sl of level. R R R S S S MCX ALUMINIUM Daily Chart y/y, GBP PPI Input m/m, GBP RPI y/y, EUR Flash GDP q/q, US CPI m/m, US Core CPI m/m, GBP Retail Sales m/m, US Core Retail Sales m/m, US Retail Sales m/m, US Empire State Manufacturing Index, US Philly Fed Manufacturing Index, US Foreign Securities Purchases, US Manufacturing Sales m/m, GBP Inflation Report Hearings. ALUMINIUM Commentary Fundamental News: Base metals on the London Metal Exchange were mostly lower at the close of trading on Friday November 9, with broad price weakness coming amid a fresh surge in the dollar index while investors heed caution over hawkish US-Sino trade relations. Technical Outlook: Aluminium has witnessed a range bound trade. So, go short near 143 with TGT of & keep SL of & Go long above with TGT of 145 & and keep Sl of R1 145 R R S S S y/y, GBP PPI Input m/m, GBP RPI y/y, EUR Flash GDP q/q, US CPI m/m, US Core CPI m/m, GBP Retail Sales m/m, US Core Retail Sales m/m, US Retail Sales m/m, US Empire State Manufacturing Index, US Philly Fed Manufacturing Index, US Foreign Securities Purchases, US Manufacturing Sales m/m, GBP Inflation Report Hearings. 4

5 12 21 th st -Nov May-2018 MCX LEAD Daily Chart LEAD Commentary Technical Outlook: Lead has remains in a negative range bound trade. So, go short near with TGT of & and keep SL of y/y, GBP PPI Input m/m, GBP RPI y/y, EUR Flash GDP q/q, US CPI m/m, US Core CPI m/m, GBP Retail Sales m/m, US Core Retail Sales m/m, US Retail Sales m/m, US Empire State Manufacturing Index, US Philly Fed Manufacturing Index. R R R S S S MCX ZINC Daily Chart ZINC Commentary Technical Outlook: Zinc has witnessed a high volatility trade. So, long above with TGT of & and SL of 185. MCX NICKEL Daily Chart y/y, GBP PPI Input m/m, GBP RPI y/y, EUR Flash GDP q/q, US CPI m/m, US Core CPI m/m, GBP Retail Sales m/m, US Core Retail Sales m/m, US Retail Sales m/m, US Empire State Manufacturing Index, US Philly Fed Manufacturing Index. R R R S S S NICKEL Commentary Technical Outlook: Nickel has witnessed a negative rally. So, go short near with TGT of & SL of 841 level. y/y, GBP PPI Input m/m, GBP RPI y/y, EUR Flash GDP q/q. R1 858 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 Source : Forex Factory Weekly Commodity Report ECONOMIC CALENDER 8

9 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. 9