11-15 Mar COMMODITY WEEKLY REPORT Mar.2019

Transcription

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

2 COMMODITIES PREVIOUS WEEKS MOVEMENT Mar.2019) MCX WEEK HIGH WEEK LOW VALUE CHANGED % CHANGED GOLD (APR.) % SILVER (MAY) % CRUDE OIL (MAR.) % NATURAL GAS (MAR.) % COPPER ( APR) % NICKEL ( MAR.) % LEAD ( MAR.) % ZINC ( MAR.) % ALUMINIUM ( MAR.) %

3 GOLD (APR.) R BUY GOLD ON DIPS TGT 31850,32100 SL BELOW GOLD SELL ON RISE TGT 32200,31950 SL ABOVE R Pivot S S % 2.60% TECHNICAL VIEW:- MCX Gold last week showed strong bearish movement and also broke its strong support level of as well as closes below this level. For upcoming trading session we will continue to suggest down trend towards next immediate support of and if price slips below this level then it will find new support of and if it takes some recovery from lower to higher side then it can test major resistance level of and above this level will act as a next strong resistance level as well as trend may also change.

4 SILVER (MARY) R2 39, SILVER BUY ON DIPS TGT SL BELOW SILVER SELL ON RISE TGT 39200, SL ABOVE OPEN R1 38, Pivot 38, S1 37, HIGH LOW CLOSE CHANGE 674 S2 37, % CHANGE 1.77 FUNDAMENTAL VIEW:- Main Street Bullish On Silver For Third Straight Year For the third consecutive year, Main Street investors look for silver to outperform all other metals next year The strong optimism for silver comes despite the fact that the metal has been the worst performer in the precious metals space in 2018; prices have declined 13% heading into the new year. March silver futures last traded at $17.76 an ounce, down 0.73% on the day. TECHNICAL VIEW:- MCX Silver last week showed sideways to bearish movement and also breached its bullish support line i.e levels as shown in daily chart. For upcoming period it may continue with bearish trend and test its immediate support level of and if price sustains below this level then will be next crucial support. On upward side it has important resistance of and if price takes quick recovery from lower levels as well as it maintains above this level then it can be find new resistance of

5 CRUDE OIL (MAR.) R2 4, BUY CRUDE OIL ON DIPS 3800 TGT 3900,4000 SL BELOW 3650 CRUDE OIL SELL ON RISE 4130 TGT 4030,3930 SL ABOVE 4270 OPEN 3961 R1 4, Pivot 3, S1 3, HIGH 3961 LOW 3823 CLOSE 3982 CHANGE -85 S2 3, % CHANGE FUNDAMENTAL VIEW:- Crude oil falls 2.53 percent, Brazil to offer areas with "significant 'oil volumes. New York-traded West Texas Intermediate and London's Brent, the global benchmark for Crude oil, tumbled about 2% each on Friday in a belated reaction to Thursday's announcement by the United State. Energy Department that it was offering up to 6 million barrels of emergency stocks from the Strategic Petroleum Reserve. Natural gas futures traded Friday at about $2.80 in NYMEX. But in a corner of the United State. Northwest, Natural Gas spot prices rocketed to more than 70 times that level as frigid temperatures sent traders scrambling for extra supplies. TECHNICAL VIEW:- MCX Crude oil last week took reverse movement from higher levels i.e and settled down on lower side. For upcoming week if price sustains below 3950 then we expect more downfall and this bearish momentum can take price towards next support of 3850 and below this level it has immediate support of its channel line i.e levels. On higher side, if price takes recovery then it can test initial resistance of 4050 and above this level trend may also change and price also moves upside up to next resistance of 4150.

6 COPPER (APR.) R BUY COPPER ON DIPS 440 TGT 450,460 SL BELOW 425 COPPER SELL ON RISE 465 TGT 455,445 SL ABOVE 480 OPEN R Pivot S HIGH LOW CLOSE CHANGE S % CHANGE FUNDAMENTAL VIEW:- Base metal: Lead, Zinc, Nickel rise; Aluminum falls Base metals prices on the London Metal Exchange were mixed at the close of trading on Friday March 1, with a continued trend of record-low inventories failing to spur persistent price rallies amid broad strength in the US dollar index. Base metal prices may trade with sideways to a negative bias. Copper may test Rs 460, facing headwinds near Rs on MCX. Zinc can hit Rs 201, staring at a hurdle near Rs 197. Lead can trade on a mixed path in the range of Rs Nickel can test Rs 950, taking support near Rs 925. TECHNICAL VIEW:- MCX Copper last week showed bullish movement and test its important resistance level of 470 as well as price moves in between a channel pattern as shown in daily chart but unable to close above this level. For upcoming session if it breaks 470 levels then bullish trend will remain active and if takes reversal then it will take some correction towards next support of 460 and below this level it has strong support of its bullish support line i.e.450 as well as trend will be also change.

7 ECONOMIC CALENDER Time Cur. Event Actual Forecast Previous Monday, March 11, :30 USD Fed Chair Powell Speaks 18:00 USD Core Retail Sales (MoM) (Jan) 0.40% -1.80% 18:00 USD Retail Sales (MoM) (Jan) 0.00% -1.20% Tuesday, March 12, :30 USD Fed Chair Powell Speaks 18:00 USD Core CPI (MoM) (Feb) 0.20% 0.20% 18:00 USD Core CPI (YoY) (Feb) 2.20% 2.20% 18:00 USD CPI (MoM) (Feb) 0.20% 0.00% 19:15 USD FOMC Member Brainard Speaks Wednesday, March 13, :00 USD API Weekly Crude Oil Stock 7.290M 18:00 USD Core PPI (MoM) (Feb) 0.20% 0.30% 18:00 USD PPI (MoM) (Feb) 0.20% -0.10% 20:00 USD Crude Oil Inventories 1.203M 7.069M 20:00 USD Cushing Crude Oil Inventories 0.873M Thursday, March 14, :30 USD OPEC Monthly Report 18:00 USD Initial Jobless Claims 225K 223K 19:30 USD New Home Sales (MoM) (Jan) 0.50% 3.70% 19:30 USD New Home Sales (Jan) 622K 621K Friday, March 15, :30 USD IEA Monthly Report 18:00 USD NY Empire State Manufacturing Index (Mar) :45 USD Industrial Production (MoM) (Feb) 0.40% -0.60% 19:30 USD Michigan Consumer Expectations (Mar) :30 USD Michigan Consumer Sentiment (Mar) :30 USD U.S. Baker Hughes Oil Rig Count :30 USD U.S. Baker Hughes Total Rig Count 1,027

8 DISCLAIMER This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the companies referred to in this document including the merits and risks involved, and should consult their own advisors to determine the merits and risks of such an investment. Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and trading volume. The information in this document has been printed on the basis of publicly available information, internal data and other reliable sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this document is for general guidance only. Trade Nivesh shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Trade Nivesh has not independently verified all the information contained within this document. Accordingly, we cannot testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document. While Trade Nivesh endeavors to update on a reasonable basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so. Investment in equity & Commodity market has its own risks. We Trade Nivesh shall not be liable or responsible for any loss or damage that may arise from the use of this information.