Morning Newsletter (28 th Sep- 2018)

Transcription

1 (28 th Sep- 2018) 1

2 Precious Metals 28 th -Sep-2018 MCX GOLD Daily Chart GOLD Commentary Gold prices dipped below the psychologically important $1,200 level on Thursday, finding little support after the Federal Reserve raised interest rates and indicated that it remains on track to continue monetary tightening into next year. Buy GOLD above TGT / SL Sell GOLD below TGT / SL DATA Watch: CANADA GDP m/m, CANADA RMPI m/m, US Core PCE Price Index m/m, US Personal Spending m/m, US Chicago PMI, US Revised UoM Consumer Sentiment. MCX SILVER Daily Chart SILVER Commentary The prospect of further interest rate increases and higher U.S. bond yields dampen appeal for the bullion, which offers no yield. They also tend to boost the dollar, making dollar-denominated gold more expensive for holders of other currencies. Buy SILVER above TGT / SL Sell SILVER below TGT / SL DATA Watch: CANADA GDP m/m, CANADA RMPI m/m, US Core PCE Price Index m/m, US Personal Spending m/m, US Chicago PMI, US Revised UoM Consumer Sentiment. 2

3 Energy sth -July Sep-2018 MCX CRUDE OIL Daily Chart CRUDE OIL Commentary Oil prices were hovering near the $82 a barrel level on Thursday, close to the four year highs reached earlier in the week amid fears of a supply shortage as the U.S. prepares to re-impose sanctions on Iran from Nov. 4. Buy CRUDE OIL above 4561 TGT 5273 & 5290 SL 5239 Sell CRUDE OIL below 5217 TGT 5205 & 5188 SL 5239 DATA Watch: CANADA GDP m/m, CANADA RMPI m/m, US Personal Spending m/m, US Chicago PMI, US Revised UoM Consumer Sentiment. MCX NATURAL GAS Daily Chart NATURAL GAS Commentary Natural Gas may expect a profit booking on higher levels. Buy NG above TGT & SL Sell NG below TGT & SL DATA Watch: Nil. 3

4 Base Metals sth -July Sep-2018 MCX COPPER Daily Chart COPPER Commentary Comex copper prices sank for the fourth consecutive session on Thursday September 27 morning in the US, with the Federal Reserve's latest rate hike lifting the dollar and sinking base metals. Buy COPPER above 451 TGT / SL Sell COPPER below TGT / SL m/m, GBP MPC Member Ramsden Speaks, US Chicago PMI, US Revised UoM Consumer Sentiment. MCX ALUMINIUM Daily Chart ALUMINIUM Commentary The prices of base metals on the London Metal Exchange were mostly lower at the close of trading on Thursday September 27, with prices under pressure from a stronger dollar. Buy ALUMINIUM above TGT & SL Sell ALUMINIUM below TGT & SL m/m, GBP MPC Member Ramsden Speaks, US Chicago PMI, US Revised UoM Consumer Sentiment. 4

5 Base Metals sth -July Sep-2018 MCX LEAD Daily Chart LEAD Commentary Lead has witnessed a high volatility trade. Buy LEAD above TGT & SL Sell LEAD below TGT & SL MCX ZINC Daily Chart m/m, GBP MPC Member Ramsden Speaks, US Chicago PMI, US Revised UoM Consumer Sentiment. ZINC Commentary Zinc has witnessed a high volatility trade. Buy ZINC above TGT & SL Sell ZINC below 183 TGT 182 & SL MCX NICKEL Daily Chart m/m, US Chicago PMI, US Revised UoM Consumer Sentiment. NICKEL Commentary Nickel has witnessed a high volatility trade. Buy NICKEL above TGT & SL Sell NICKEL below TGT & SL GBP Final GDP q/q, EUR CPI Flash Estimate y/y, US Chicago PMI. 5

6 Pivot Table Morning & Economic Newsletter Calendar SUPPORTS & RESISTANCES 31 st -July th -Sep-2018 Commodity S3 S2 S1 Pivot Point R1 R2 R3 GOLD GOLDM SILVER SILVERM ALUMINIUM COPPER LEAD ZINC NICKEL CRUDE OIL NATURAL GAS ECONOMIC CALENDER Country Economic Event Forecast Previous Time GBP Current Account -19.4B -17.7B 2.00 PM GBP Final GDP q/q 0.4% 0.4% 2.00 PM CANADA GDP m/m 0.1% 0.0% 6.00 PM US Core PCE Price Index m/m 0.1% 0.2% 6.00 PM US Personal Spending m/m 0.3% 0.4% 6.00 PM US Chicago PMI PM US Revised UoM Consumer Sentiment PM 6

7 Morning Disclaimer Newsletter 31 st -July th -Sep-2018 RESEARCHED & PREPARED BY B.KESAVAMOORTHY SENIOR MANAGER (RESEARCH ) CONTACT NO: ID: KESAVAMOORTHY.B@SKYCOMMODITIESMAILS.COM 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. 7