COMMODITY WEEKLY REPORT

Transcription

1 COMMODITY REPORT 5 FEB-9 Feb 2018 Monday - Friday Trade House 426 Alok Nagar, Kanadia Main Road Near Bangali Square Indore (M.P.) India Mobile : info@tradenivesh.in

2 COMMODITIES PREVIOUS WEEKS MCX CLOSING PRICE CLOSING PRICE VALUE CHANGED % CHANGED GOLD (APR) % SILVER (MARC) % CRUDE OIL (FEB.) % NATURAL GAS (Feb.) % COPPER ( Feb.) % NICKEL (Feb.) % LEAD (Feb.) % ZINC (Feb.) % ALUMINIUM (Feb.) % 2

3 GOLD (APR.) R R R Pivot S S S GOLD (APR.) LEVEL TGT-1 TGT-2 STOP LOSS BUY IN RANGE SELL BELOW OPEN HIGH LOW CLOSE CHANGE -45 % CHANGE -0.15% FUNDAMENTAL VIEW:- Gold prices eased in Asia last week despite a stronger reading on the consumer-demand side in China as sentiment on the dollar is weighed with a steeper yield curve. Gold futures for April delivery fell 0.28% to $1, on the Comex division of the New York Mercantile Exchange. The US dollar index fell 0.04% to TECHNICAL VIEW:- MCX Gold last week showed sideways to bullish movement and closed around its resistance level of For upcoming session if price maintains above then it may give more upside movement up to next resistance level of On lower side it has support of its lower trend line i.e. nearby levels and if it breaks this level and sustains on lower side then it may take some correction from upper to lower side towards next support level of

4 SILVER MARCH R R R Pivot S S SILVER(MAR..) LEVEL TGT-1 TGT-2 STOP LOSS BUY IN RANGE SELL BELOW OPEN HIGH LOW CLOSE CHANGE S % CHANGE -3.33% FUNDAMENTAL VIEW:- Precious metals trading, silver dropped 3.5% to $16.55 a troy ounce and recorded a 4.77% weekly decline. precious metals trading, silver dropped 3.5% to $16.55 a troy ounce and recorded a 4.77% weekly decline.compiled a list of these and other significant events likely to affect the markets. TECHNICAL VIEW:- MCX Silver last week was volatile but at the end of week it took reverse movement from its upper trend line and give good bearish movement and able to closed around support level of For upcoming week it may give more down side movement if it breaks support level of and price sustains below this level then it drag down toward next important support level i.e On upward side it has major resistance level of and if price maintains above this level then it may give bullish movement and test next resistance level of

5 CRUDE (FEB.) R R R Pivot 4180 S S CRUDE (FEB) LEVEL TGT-1 TGT-2 STOP LOSS BUY ABOVE SELL BELOW OPEN 4210 HIGH 4271 LOW 4063 CLOSE 4197 CHANGE 9 S % CHANGE 0.21% FUNDAMENTAL VIEW:- Crude oil pries fell in Asia last week with risk off sentiment weighing on a dip in regional equities and futures pointing to a weaker US open.west Texas Intermediate (WTI) crude futures for March delivery fell 0.81% to $64.92 a barrel. ICE April Brent crude futures, the benchmark for oil prices outside the U.S., dipped 0.87% to $67.98 a barrel.last week, oil prices finished lower on Friday to tally a loss for the week, as traders weighed a steady increase in U.S. output against OPEC's ongoing efforts to drain the market of excess supplies. TECHNICAL VIEW:- MCX Crude oil last week was volatile. For upcoming session it may give some lower side movement if it breaks its support of lower trend line i.e levels and if price sustains below this level then it can test next major support level of 4000 and it continues with bearish trend. On upward side it has important resistance level of 4200 and if price maintains above this level then it will give some recovery from lower to upward side up to next resistance level of

6 COPPER (FEB.) R3 457 R2 468 R1 461 Pivot 452 S1 445 S2 437 COPPER (FEB) LEVEL TGT-1 TGT-2 STOP LOSS BUY IN RANGE SELL BELOW OPEN HIGH LOW CLOSE CHANGE 0.9 S3 422 % CHANGE 0.20% FUNDAMENTAL VIEW:- Copper for March delivery was down 0.84% at $3.182 in late trade.in the week ahead, investors will be looking to political wrangling in Washington over the country s finances ahead of the Feb. 8 spending deadline and the debt ceiling issue. TECHNICAL VIEW:- MCX Copper last week was volatile and able to close around its upper trend line which is near by 450 levels. For upcoming week it may give up side movement and test major resistance level of 460 and after that 466 will act as a next important resistance level. On downward side it has crucial support level of 445 and if price sustains below this level then it can give some more bearish movement towards next support level of its lower trend line i.e.437 levels. 6

7 NATURAL GAS (FEB.) R3 243 R2 217 R1 201 Pivot 191 S1 175 S2 166 S3 140 N.GAS(FEB..) LEVEL TGT-1 TGT-2 STOP LOSS BUY IN RANGE SELL BELOW OPEN HIGH 208 LOW CLOSE CHANGE % CHANGE -7.55% FUNDAMENTAL VIEW:- Natural gas futures declined last week and falling to the lowest levels of the session after data showed that domestic supplies in storage fell less than forecast last week.front-month U.S. natural gas futures sank 14.2 cents, or around 4.7%, to $2.853 per million British thermal units (btu) by 10:32AM ET (1532GMT), the weakest level since Jan. 9. Futures were at around $2.888 prior to the release of the supply data. TECHNICAL VIEW :- Natural gas is trading on buy zone. Now It s trading range is

8 STATUS OF OUR LAST RECOMMENDATIONS RECOMMENDATIONS PROFIT/LOSS STATUS BUY GOLD IN RANGE TGT SL BELOW ST TGT SELL GOLD BELOW TGT SL ABOVE NOT EXECUTED BUY SILVER IN RANGE TGT SL BELOW SL TRIGGERED SELL SILVER BELOW TGT SL ABOVE COST EXIT BUY CRUDEOIL ABOVE TGT SL BELOW ST TGT 4248 SELL CRUDEOIL BELOW 4060 TGT SL ABOVE NOT EXECUTED BUY COPER IN RANGE TGT SL BELOW ST TGT SELL COPPER BELOW 440 TGT SL ABOVE NOT EXECUTED BUY NATURALGAS ABOVE 204 TGT SL BELOW SL TRIGGERED SELL NATURALGAS BELOW 186 TGT ABOVE CLOSE AT COST NET PROFIT

9 ECONOMIC CALENDER Time Cur. Event Forecast Previous Tuesday, January 30, :30 USD CB Consumer Confidence (Jan) Wednesday, January 31, :30 USD U.S. President Trump Speaks 18:45 USD ADP Nonfarm Employment Change (Jan) 191K 250K 20:30 USD Pending Home Sales (MoM) (Dec) 0.50% 0.20% 21:00 USD Crude Oil Inventories M M Thursday, February 1, :30 USD FOMC Statement 00:30 USD Fed Interest Rate Decision 1.50% 1.50% 20:30 USD ISM Manufacturing PMI (Jan) :00 USD Natural Gas Storage -288B Friday, February 2, :00 USD Nonfarm Payrolls (Jan) 184K 148K 19:00 USD Unemployment Rate (Jan) 4.10% 4.10% 9

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