(31 st -Dec-2018) 1
31 st -Dec-2018 MCX GOLD Daily Chart GOLD Commentary Fundamental News: Gold futures tip lower early Friday as volatile stock markets calmed down for now, but the haven metal remained near the six-month highs scored in recent days on the way to a roughly 1.8% weekly gain. Technical Outlook: Gold has witnessed a positive range bound trade. So, Buy above 31640 with TGT 31736 & 31853 SL 31545 or else Short below 31450 with TGT 31355 & 31238 SL 31545. R1 31736 R2 31853 R3 32043 S1 31355 S2 31238 S3 31047 MCX SILVER Daily Chart Data to Watch: CHINA Manufacturing PMI, CHINA Non- Manufacturing PMI, US ADP Non-Farm Employment Change, US Unemployment Claims, US ISM Manufacturing PMI, CANADA Employment Change, CANADA Unemployment Rate, CANADA RMPI m/m, US Average Hourly Earnings m/m, US Non-Farm Employment Change, US Unemployment Rate, US Fed Chair Powell Speaks, US FOMC Member Bostic Speaks. SILVER Commentary Fundamental News: Weakness in U.S. dollars can make precious metals, which is primarily traded in greenback, more attractive to investors using other monetary units. Technical Outlook: Silver has witnessed a positive range bound trade. Go long near 38598 with TGT of 38899 & 39270 and maintain SL of 38297 or else Sell below 37996 with TGT 37695 & 37324 and keep SL of 38297 level. R1 38899 R2 39270 R3 39872 Data to Watch: CHINA Manufacturing PMI, CHINA Non- Manufacturing PMI, US ADP Non-Farm Employment Change, US Unemployment Claims, US ISM Manufacturing PMI, CANADA Employment Change, CANADA Unemployment Rate, CANADA RMPI m/m, US Average Hourly Earnings m/m, US Non-Farm Employment Change, US Unemployment Rate, US Fed Chair Powell Speaks, US FOMC Member Bostic Speaks. S1 37695 S2 37324 S3 36722 2
MCX CRUDE OIL Daily Chart CRUDE OIL Commentary Fundamental News: U.S. crude oil inventories fell less than expected last week, the Energy Information Administration said in its weekly report on Friday. Technical Outlook: Crude Oil has witnessed a mild recovery rally until closing below 3050 level. Go long near 3204 With TGT of 3258 & 3324 and keep Sl of 3151 or else short below 3097 with TGT of 3043 & 4923 and keep stop loss of 3151. R1 3258 R2 3324 R3 3432 S1 3043 S2 2977 S3 2870 MCX NATURAL GAS Daily Chart Data to Watch: CHINA Manufacturing PMI, US ADP Non-Farm Employment Change, US Unemployment Claims, US ISM Manufacturing PMI, CANADA Employment Change, CANADA Unemployment Rate, CANADA RMPI m/m, US Average Hourly Earnings m/m, US Non-Farm Employment Change, US Unemployment Rate, US Fed Chair Powell Speaks, US FOMC Member Bostic Speaks, US Crude Oil Inventories. NATURAL GAS Commentary Fundamental News: United States EIA Natural Gas Storage change above expectations (-52B) in December 17: Actual (-48B). Technical Outlook: Natural Gas has remains in negative trend. Go Short below 237 with TGT of 230 & 221.3 and keep stop loss of 244 Or else Go long above 251.1 with TGT of 258.1 & 266.8 and Keep SL of 244 level. Data to Watch: US Natural Gas Storage. R1 258.1 R2 266.8 R3 280.8 S1 230 S2 221.3 S3 207.2 3
MCX COPPER Daily Chart COPPER Commentary Fundamental News: The Chinese Smelters Purchase Team (CSPT) is to raise Q1 copper treatment and refining charges (TC/RCs) purchase price for the first quarter of 2019 to $92 per tonne and 9.2 cents per lb. Technical Outlook: Copper has witnessed a negative bias and to utilize a surge for sell opportunity. So, go long near 420.4 with TGT of 422.85 & 425.9 and maintain Stop loss of 417.8 or else go short below 415.45 with TGT 413 & 410 and keep sl of 417.8 level. R1 422.85 R2 425.9 R3 430.8 S1 413 S2 409.95 S3 405 MCX ALUMINIUM Daily Chart Change, US Unemployment Claims, US ISM Manufacturing PMI, GBP Net Lending to Individuals m/m, GBP Services PMI, EUR CPI Flash Estimate y/y, EUR Core CPI Flash Estimate y/y, US Average Hourly Earnings m/m, US Non-Farm Employment Change, US Unemployment Rate, US Fed Chair Powell Speaks. ALUMINIUM Commentary Fundamental News: Base metals prices on the Shanghai Futures Exchange were broadly up during Asian morning trading on Friday, with weakness in the dollar buoying most of the complex. Technical Outlook: Aluminium has witnessed a negative bias. So, go short near 129.95 with TGT of 128.9 & 127.6 keep SL of 131 & Go long above 132.05 with TGT of 133.1 & 134.4 and keep Sl of 131. R1 133.1 R2 134.4 R3 136.5 S1 128.9 S2 127.6 S3 125.5 Change, US Unemployment Claims, US ISM Manufacturing PMI, GBP Net Lending to Individuals m/m, GBP Services PMI, EUR CPI Flash Estimate y/y, EUR Core CPI Flash Estimate y/y, US Average Hourly Earnings m/m, US Non-Farm Employment Change, US Unemployment Rate, US Fed Chair Powell Speaks, US FOMC Member Bostic Speaks. 4
31 21 st -Dec-2018 -May-2018 MCX LEAD Daily Chart LEAD Commentary Technical Outlook: Lead has witnessed a range bound trade with volatile. So, go short below 139.9 with TGT of 138.6 & 136.95 and keep SL of 141.25. Change, US Unemployment Claims, US ISM Manufacturing PMI, GBP Net Lending to Individuals m/m, US Average Hourly Earnings m/m, US Non-Farm Employment Change, US Unemployment Rate, US Fed Chair Powell Speaks. R1 143.9 R2 145.55 R3 148.2 S1 138.6 S2 136.95 S3 134.3 MCX ZINC Daily Chart ZINC Commentary Technical Outlook: Zinc has witnessed a negative trade with volatile. So, short near 174.5 with TGT of 173.25 & 171.7 and SL of 175.75. MCX NICKEL Daily Chart Change, US Unemployment Claims, US ISM Manufacturing PMI, GBP Net Lending to Individuals m/m, US Average Hourly Earnings m/m, US Non-Farm Employment Change, US Unemployment Rate, R1 178.25 R2 179.8 R3 182.3 S1 173.25 S2 171.7 S3 169.2 NICKEL Commentary Technical Outlook: Nickel has close below 735 means some more drop ahead. So, go long near 754.6 with TGT of 760.5 & 767.8 SL of 748.7 level. Change, US Unemployment Claims, US ISM Manufacturing PMI. R1 760.5 R2 767.8 R3 779.7 S1 736.8 S2 729.5 S3 717.7 5
Weekly MCX COMMODITY CHANGE Indices Close Change % GOLD 31598.00 405 1.30 SILVER 38706.00 1450 3.89 CRUDE OIL 3185.00-51 -1.58 NATURAL GAS 232.50-32.9-12.40 COPPER 417.30-0.05-0.01 ALUMINIUM 129.50-4.35-3.25 LEAD 142.40 4.55 3.30 ZINC 173.80-3.55-2.00 NICKEL 743.60-15.3-2.02 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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