COMMODITY WEEKLY REPORT

Transcription

1 COMMODITY REPORT 2017 Monday-Friday Trade House 426 Alok Nagar, Kanadia Main Road Near Bangali Square Indore (M.P.) India Mobile : Telephone :

2 COMMODITIES PREVIOUS WEEK MCX CLOSING PRICE CLOSING PRICE VALUE CHANGED % CHANGED GOLD (JUNE) % SILVER (MAY) % CRUDE OIL (MAY.) % NATURAL GAS (MAY) % COPPER (JUN) % NICKEL (MAY) % LEAD (MAY) % ZINC (MAY.) % ALUMINIUM (MAY.) % 2

3 GOLD (JUNE) R R R Pivot S S GOLD (JUN) LEVEL TGT-1 TGT-2 STOP LOSS BUY SELL OPEN HIGH LOW CLOSE CHANGE +639 S % CHANGE +2.28% FUNDAMENTAL VIEW:- Gold drifted weaker in Asia on Monday as Donald Trump's first visits abroad as president were in focus with a flurry of deals signed in Saudi Arabia in the first stop and with investors shrugging off the latest missile test by North Korea at the weekend. Gold for June delivery eased 0.05% to 1, a troy ounce. In the week ahead, investors will be looking at Wednesday s Federal Reserve meeting minutes for fresh indications on the possible timing of the next U.S. rate hike. Revised data on U.S. first quarter growth and private sector survey data out of the euro zone will also be in focus. TECHNICAL VIEW:-Gold closed around Gold price continues to provide positive trading to settle at the previously broken support of the bullish channel that appears on chart, and as long as the price is below this level, the bearish trend scenario will remain expected for the upcoming period, supported by stochastic lose to the positive momentum, as the main target is located at if it break this level than gold may be more up around other wise we can sell it on upper level to target of

4 SILVER (JUL.) R R R Pivot S S SILVER(MAY LEVEL TGT-1 TGT-2 STOP LOSS BUY SELL OPEN HIGH LOW CLOSE CHANGE +969 S % CHANGE +2.53% FUNDAMENTAL VIEW:- Silver futures rose over 1 per cent during evening trade in the domestic market on Thursday as investors and speculators extended their positions in the precious metal as the dollar slid after the US President Trump said that he would prefer the US Fed to keep interest rates low and suggested the greenback is too strong. Moreover, rising tensions over US relations with Russia and North Korea, too lifted silver prices. At the MCX, silver futures for May 2017 contract is trading at Rs per kg, up by 1 per cent, after opening at Rs 42301, against a previous close of Rs It touched the intra-day high of Rs TECHNICAL VIEW:- Silver markets had a strong week as we reached around 39375and closed at 39111, an area that of course has a certain amount of psychological importance and has previously shown itself to be both support and resistance. Silver is being moved by several different issues currently, than silver market me be more up side around if it give the break out of level of outher wise we can sell it on new high level. 4

5 COPPER (JUNE) R3 393 R2 379 R1 375 Pivot 365 S1 361 S2 352 COPPER (JUN) LEVEL TGT-1 TGT-2 STOP LOSS BUY SELL OPEN HIGH LOW CLOSE CHANGE S3 338 % CHANGE +2.61% FUNDAMENTAL VIEW:- Copper futures were trading higher during afternoon trade in the domestic market on Thursday as investors and speculators extended their positions in the industrial metal as the US dollar slid after President Trump said that the currency was too strong. Moreover, prices of copper also got a boost after upbeat China trade data for March, and as traders closed positions ahead of the long Easter holiday weekend. At the MCX, copper futures for April 2017 contract is trading at Rs per kg, up by 0.58 per cent, after opening at Rs , against a previous close of Rs It touched the intra-day high of Rs TECHNICAL VIEW:- copper main trend is down according to the daily swing chart. but copper had not broken of the last week down level and broken of high level of that was its went to more up side but there was not strong support level. so we can sell it more upper level or if it give the break out of then we can not sell it 5

6 CRUDE (JUN) R R R Pivot 3230 S S CRUDE (MAY) LEVEL TGT-1 TGT-2 STOP LOSS BUY SELL OPEN 3120 HIGH 3292 LOW 3120 CLOSE 3276 CHANGE +210 S % CHANGE +6.84% FUNDAMENTAL VIEW:- Crude prices held strong gains in Asia on Monday, shrugging off the latest missile test by North Korea and waiting for the big meeting on May 25 widely expected to extend an oil output cut pact through March The U.S. West Texas Intermediate crude June contract rose 0.99% to $51.17 a barrel. Elsewhere, on the ICE Futures Exchange in London, Brent oil for July delivery were last quoted at $53.88 a barrel. oil futures settled at a four-week high, with prices scoring a weekly gain of more than 5% amid optimism that key producers will extend output cuts beyond an agreed-on June deadline when they meet later this month. TECHNICAL VIEW:- Crude Oil market shot to the upside during the week, clearing the 3300 level on Friday. and closed at if crude oil give the break out level of 3335 then it may be more up around other wise its touch of 55 days resistance level and go to more down around

7 NATURAL GAS (MAY) R3 242 R2 227 R1 218 Pivot 211 S1 202 S2 195 N.GAS(APR) LEVEL TGT-1 TGT-2 STOP LOSS BUY SELL OPEN HIGH LOW CLOSE CHANGE S3 179 % CHANGE -4.27% FUNDAMENTAL VIEW:- U.S. natural gas futures edged higher on Thursday, despite data showing that natural gas supplies in storage in the U.S. rose more than expected last week. U.S. natural gas for June delivery ticked up 1.3 cents, or around 0.4%, to $3.205 per million British thermal units by 10:35AM. Futures were at around $3.192 prior to the release of the supply data before falling to a session low of $3.168, the weakest level since May 8. Prices of the heating fell 3.8 cents on Wednesday amid bearish weather forecasts. TECHNICAL VIEW:-Natural Gas did not give the break out of last week high level 220 and this week natural gas have closed around natural- gas this week did not give us new high level and didn't give the new low level. it was is consolidate.if it give the break out of resistance level of 223 than it may be more up side around 241 so we think that we should buy it around 219 to target of 228 other wise we can sell it below 215 to target of 190 and maintain sl of

8 STATUS OF OUR LAST RECOMMENDATIONS PRODUCT RECOMMENDATIONS PROFIT/ LOSS STATUS GOLD BUY GOLD AROUND TGT AND SL BELOW SELL GOLD AROUND TGT AND SL ABOVE ALMOST ACHIEVED 1ST TGT 0 NOT EXECUTED SILVER BUY SILVER TGT AND SL BELOW CLOSED IN PROFIT SELL SILVER BELOW TGT AND SL ABOVE 0 NOT EXECUTED CRUDE OIL BUY CRUDEOIL ABOVE 3170 TGT SL 2900 BELOW ST TGT ACHIEVED SELL CRUDEOIL BELOW 3000 TGT SL 3250 ABOVE 0 NOT EXECUTED NATURAL GAS SELL NETURAL GAS BELOW 219 TGT SL 230 ABOVE ST TGT ACHIEVED BUY NATURAL GAS AROUND 228 TGT SL 210 ABOVE 0 NOT EXECUTED COPPER BUY COPPER AROUND 359 TGT SL BELOW ST TGT ACHIEVED COPPER SELL COPPER BELOW 351 TGT SL 361 ABOVE 0 NOT EXECUTED P&L P&L PROFIT 8

9 ECONOMIC CALENDER Time Cur. Event Actual Forecast Previous Monday, May 22, :30 USD Investing.com Gold Index 66.30% 69.80% Tuesday, May 23, :00 USD New Home Sales (Apr) 610K 621K 298K Wednesday, May 24, :00 USD Existing Home Sales (Apr) 5.65M 5.71M 258K 14:00 USD FOMC Meeting Minutes 227K Thursday, May 25, :30 USD Continuing Jobless Claims 1,925K 1,898K :00 USD 7-Year Note Auction 2.08% Friday, May 26, :30 USD Core Durable Goods Orders (MoM) (Apr) -0.20% 08:30 USD GDP (QoQ) (Q1) 0.70% 9

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