(12 th -Nov-2018) 1
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 31456 with TGT 31635 & 31855 SL 31278 or else Short near 31100 with TGT 30921 & 30701 SL 31278. 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. R1 31635 R2 31855 R3 32212 S1 30921 S2 30779 S3 30344 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 37818 with TGT of 38206 & 38685 and maintain SL of 37430 or else Sell near 37042 with TGT 36654 & 36175 and keep SL of 37430 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. R1 38206 R2 38685 R3 39461 S1 36450 S2 36175 S3 35399 2
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 4448. R1 4596 R2 4687 R3 4835 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. S1 4300 S2 4209 S3 4061 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: R1 276.6 R2 284.6 R3 297.5 Natural Gas has witnessed a breakout rally. Go long near 270.2 with TGT of 276.6 & 284.6 and Keep SL of 263.8 level or else Go Short below 257.3 with TGT of 250.9 & 242.9 and keep stop loss of 263.8 Data to Watch: US Natural Gas Storage. S1 250.9 S2 242.9 S3 230.1 3
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 441.9 with TGT of 446.15 & 451.4 and maintain Stop loss of 437.65 or else go short below 433.35 with TGT 429.15 & 423.85 and keep sl of 437.65 level. R1 446.15 R2 451.4 R3 459.95 S1 429.15 S2 423.85 S3 415.35 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 142.5 & 140.2 keep SL of 143.65 & Go long above 144.3 with TGT of 145 & 147.5 and keep Sl of 143.65. R1 145 R2 147.5 R3 151.5 S1 142.35 S2 140.2 S3 134.25 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
12 21 th st -Nov-2018 -May-2018 MCX LEAD Daily Chart LEAD Commentary Technical Outlook: Lead has remains in a negative range bound trade. So, go short near 141.05 with TGT of 139.7 & 138.05 and keep SL of 142.4. 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. R1 145.1 R2 146.75 R3 149.45 S1 139.7 S2 138.05 S3 135.35 MCX ZINC Daily Chart ZINC Commentary Technical Outlook: Zinc has witnessed a high volatility trade. So, long above 186.7 with TGT of 188.3 & 190.35 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. R1 188.35 R2 190.35 R3 193.6 S1 181.8 S2 179.8 S3 176.5 NICKEL Commentary Technical Outlook: Nickel has witnessed a negative rally. So, go short near 832.2 with TGT of 823.6 & 807.8 SL of 841 level. y/y, GBP PPI Input m/m, GBP RPI y/y, EUR Flash GDP q/q. R1 858 R2 868.6 R3 885.8 S1 823.6 S2 807.8 S3 795.8 5
Weekly MCX COMMODITY CHANGE Indices Close Change % GOLD 31016.00-734 -2.31 SILVER 36880.00-1740 -4.51 CRUDE OIL 4362.00-247 -5.36 NATURAL GAS 272.60 32.1 13.35 COPPER 431.25-20 -4.43 ALUMINIUM 142.65-2.2-1.52 LEAD 142.45-3.25-2.23 ZINC 185.25-3.4-1.80 NICKEL 829.50-40.9-4.70 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
Source : Forex Factory Weekly Commodity Report ECONOMIC CALENDER 7
Source : Forex Factory Weekly Commodity Report ECONOMIC CALENDER 8
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