Published On 12 Jan 2019 Research Analyst Report 14 JAN 2019 to GOLD 31917 18 JAN 2019 SILVER 39336 Premium Commodity Weekly Journal Strictly for Client Circulation Email: research@24cfin.com & contactus@24cfin.com
Market Wrap Mon 07 to Fri 11 Jan 2019 Scrip Name Contract Open High Low Close GOLD SILVER CRUDE OIL 05Feb2019 05Mar2019 18Jan2019 31529 32135 31928 31448 39224 39761 39336 38889 3381 3764 3632 3374 NATURAL GAS 26Jan2019 209.7 218 217 203.7 COPPER ZINC LEAD ALUMINIUM NICKEL 28Feb2019 31Jan2019 31Jan2019 31Jan2019 31Jan2019 409.2 421.2 415.9 406.65 172.15 178.55 176.25 171.65 136.2 141.15 140.05 135.45 129.85 132.1 128.8 128.45 773 809.8 805.3 769.6
Support & Resistance Mon 14 to Fri 18 Jan 2019 Scrip Name GOLD SILVER CRUDE OIL NATURAL GAS COPPER ZINC LEAD ALUMINIUM NICKEL Contract 05Feb2019 05Mar2019 18Jan2019 26Jan2019 28Feb2019 31Jan2019 31Jan2019 31Jan2019 31Jan2019 Res 2 Res 1 Pivot Sup 1 Sup 2 32044 31746 31837 31539 31630 39754 39321 39329 38896 38904 3722 3548 3590 3416 3458 213.9 208.8 212.9 207.8 211.9 419.9 413.3 414.6 408.0 409.3 177.8 174.7 175.5 172.4 173.2 140.0 137.7 138.9 136.6 137.8 133.1 130.8 129.8 127.5 126.5 799.4 784.5 794.9 780.0 790.4
MCX Outlook Mon 14 to Fri 18 Jan 2019 Economic Buzz: US Consumer Prices Edge Marginally Lower In December US consumer prices edged slightly lower in the month of December, according to a report released by the Labor Department on Friday, with the modest decrease largely reflecting a steep drop in gasoline prices. The Labor Department said its consumer price index slipped by 0.1 percent in December after coming in unchanged in November. Excluding food and energy prices, the core consumer price index rose by 0.2 percent in December. Copper Gains In Steady Trades COMEX Copper stayed supported in Asia today as a recovery from four month lows continued. Traders are hopeful that the global trade impasse would ease off in near term. The equities are up in cautious trades as the US markets edged up further. COMEX Copper currently trades at $2.65 per pound, up 0.60% on the day. MCX Copper futures ended down around 1% at Rs 412.40 per kg yesterday but should stay largely supported in early moves today. On the economic front, the US initial jobless claims fell to 216,000, a decrease of 17,000 from the previous week's revised level of 233,000. Meanwhile, the Labor Department said the less volatile fourweek moving average rose to 221,750, an increase of 2,500 from the previous week's revised average of 219,250. China consumer prices were up 1.9% on year in December, the National Bureau of Statistics said on Thursday, down from 2.2% in November. The bureau also said that producer prices were up an annual 0.9%, down sharply from 2.7% in the previous month.
Market News Mon 14 to Fri 18 Jan 2019 Special News WTI Crude Holds Above $52 Levels In Asia Crude oil futures saw some resistance after the massive gains on Wednesday. The commodity soared after Saudi Energy Minister reaffirms that the kingdom's oil production and exports will fall in coming months. However, selling pressure in global equities today hurt the oil prices after the WTI crude soared near a three week of of 52.80 per barrel. The counter currently trades at $52.50 per barrel, down 0.17% on the day. MCX Crude oil futures ended flat at Rs 3680 per barrel. The Chinese Ministry of Commerce (MOFCOM) said in a statement on Thursday that the US and China had broad and detailed discussion on trade and structural issues of shared concern. The talks have strengthened mutual understanding and laid the foundation for addressing both sides' concerns, adding that the two countries also agreed to keep close contact. COMEX Gold Sees Sideways Action COMEX Gold futures stayed largely supported after testing near $1300 per ounce. The rally in risky assets paused as sentiments turned lax yesterday. The attention shifted from the China US trade talks to the recent array of weak economic releases around the globe. The yellow metal currently trades at $1291.55 per ounce, up 0.30% on the day. The MCX Gold futures closed at Rs 31880 per 10 grams, down marginally on the day. The local futures stayed capped as the Indian Rupee managed to hold ground against the US dollar. The dollar index fell to two and half month low after the minutes of US Fed's latest policy meeting showed the policymakers may slow the pace of rate hikes to prevent a slowdown in the economy.
Commodity Buzz Mon 14 to Fri 18 Jan 2019 MCX Zinc may trade in a range between 169.3179.7. MCX Copper may trade in a range between 407.2421.4. MCX Natural Gas may trade in a range between 205.3220.9. Crude Oil market under long liquidation; Support seen at 3627. MCX Nickel may move in a range of 776.3802.7. MCX Aluminium likely to move in a range of 128.9131.9. Silver market under long liquidation; Support seen at 39109. MCX Gold may trade in a range between 3167432238.
Analyst Speaks Mon 14 to Fri 18 Jan 2019 MCX GOLD Technically Gold market is getting support at 31539 and below same could see a test of 31630 levels and resistance is now likely to be seen at 31746, a move above could see prices testing 32044. GOLD FEB BUY AROUND 3170031750 TGTS 32100/32500 SL 31300 RESISTANCE 2 RESISTANCE 1 PIVOT SUPPORT 1 SUPPORT 2 32044 31746 31837 31539 31630
Analyst Speaks Mon 14 to Fri 18 Jan 2019 MCX CRUDE OIL Technically Crude Oil market is getting support at 3416 and below same could see a test of 2458 levels and resistance is now likely to be seen at 3548, a move above could see prices testing 3722. CRUDE OIL JAN BUY AROUND 35003450 TGTS 3800/4100 SL 3100 RESISTANCE 2 RESISTANCE 1 PIVOT SUPPORT 1 SUPPORT 2 3722 3548 3590 3416 3458
Analyst Speaks Mon 14 to Fri 18 Jan 2019 MCX COPPER OIL Technically Copper market is getting support at 408 and below same could see a test of 409.3 levels and resistance is now likely to be seen at 413.3, a move above could see prices testing 419.9. COPPER FEB SELL AROUND 425422 TGTS 410/400 SL 435 RESISTANCE 2 RESISTANCE 1 PIVOT SUPPORT 1 SUPPORT 2 419.9 413.3 414.6 408 409.3
Economic Events Mon 14 to Fri 18 Jan 2019 COUNTRY DATE TIME EVENTS ACTUAL FORECAST PREVIOUS 15 JAN 07:00pm PPI m/m Core PPI m/m 0.1% 0.2% 0.1% 0.3% 11:30pm FOMC Member George Speaks USD 16 JAN 09:00pm 07:00pm Crude Oil Inventories Philly Fed Manufacturing Index 10.1 1.7M 9.4 17 JAN 09:00pm Natural Gas Storage 91B 09:15pm FOMC Member Quarles Speaks 18 JAN 07:35pm 08:30pm FOMC Member Williams Speaks Prelim UoM Consumer Sentiment 2.7%
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