Published On 15 JAN 2019 Research Analyst Report 15 JAN 2019 GOLD 32,130 SILVER 39,580 Premium Commodity Daily Journal Strictly for Client Circulation Email: research@24cfin.com & contactus@24cfin.com
Market Wrap Mon 14 Jan 2019 Scrip Name Contract Open High Low Close GOLD SILVER CRUDE OIL NATURAL GAS COPPER ZINC LEAD ALUMINIUM NICKEL 05-Feb-2019 05-Mar-2019 18-Jan-2019 26-Jan-2019 28-Feb-2019 31989 32220 31975 32141 39305 39588 39279 39552 3606 3670 3576 3628 218.6 250.2 218.6 248.2 414 415.1 411.6 414.2 175.3 177 174.15 176.25 140.05 140.65 139 140 128.9 129.5 127.4 128.8 802.6 809 798.6 805.7
Support & Resistance Tue 15 Jan 2019 Scrip Name GOLD SILVER CRUDE OIL NATURAL GAS COPPER ZINC LEAD ALUMINIUM NICKEL Contract 05-Feb-2019 05-Mar-2019 18-Jan-2019 26-Jan-2019 28-Feb-2019 Res 2 Res 1 Pivot Sup 1 Sup 2 32357 32249 32112 32004 31867 39782 39667 39473 39358 39164 3719 3673 3625 3579 3531 270.6 259.4 239.0 227.8 207.4 417.1 415.7 413.6 412.2 410.1 178.7 177.5 175.8 174.6 173.0 141.5 140.8 139.9 139.1 138.2 130.7 129.7 128.6 127.6 126.5 814.8 810.3 804.4 799.9 794.0
MCX Outlook Tue 15 Jan 2019 MCX Crude Ends Flat- WTI Crude oil futures saw steep selling pressure yesterday as the global stocks started the week on a jittery note as a contraction in Chinese exports and concerns surrounding the ongoing US government shutdown kept investors cautious. However, Chinese crude oil data turned supportive for the commodity and the oil prices cut their intraday losses. WTI Crude recovered from a low under $50.50 per barrel and currently trades at $51.10 per barrel, up 1% on the day. Gold Garner's Steady Gains- Gold gained yesterday on safe haven buying as the equities dropped globally and follow up buying stayed in place in the yellow metal. China's exports and imports in December declined at the worst rates in two years, raising fresh concerns about global growth. Brexit concerns also lingered ahead of Tuesday's key Commons vote. The US President Donald Trump has warned Turkey of economic devastation if it attacks Kurdish forces in the wake of the US troop pullout from Syria, while also urging the Kurds not to provoke Ankara. The COMEX Gold futures are currently trading at $1292 per ounce, up 0.10% on the day. MCX Gold futures closed at Rs 32150 per 10 grams, up 0.70% on the day.
Market News Tue 15 Jan 2019 Special News Oil prices edge up on supply cuts, but weakening economic outlook caps gains- Oil prices inched up on Tuesday amid supply cuts by producer club OPEC and Russia, although the darkening economic outlook capped gains. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $50.78 per barrel at 0041 GMT, up 27 cents, or 0.5 percent, from their last settlement. International Brent crude oil futures LCOc1 had yet to trade. "The impact of OPEC+ cuts, Iran sanctions and lower monthon-month growth in U.S. production should help to support oil prices from current levels," U.S. bank J.P. Morgan said in a note. OPEC to publish quotes for new output cut deal- The Organization of the Petroleum Exporting Countries (OPEC) is planning to publish quotas for individual countries under the new OPEC/non-OPEC production cut deal, the cartel source told Russian news agency TASS on Monday. The new deal took effect on Jan. 1 and will last until June 2019. During that time period, the OPEC and its allies will remove a total 1.195 million barrels per day (bpd) off the market and keep production at 43.874 million bpd, according to TASS.
Commodity Buzz Tue 15 Jan 2019 Natural Gas market under short covering; Support seen at 213.9 Short covering seen in MCX Zinc MCX Copper under short covering; Resistance seen at 418.2 Crude Oil market under long liquidation; Support seen at 3574 Silver market under short covering; Support seen at 39153 MCX Nickel under short covering; Resistance seen at 812.4 MCX Aluminium under fresh selling; Support seen at 127.9
Analyst Speaks Tue 15 Jan 2019 MCX GOLD Technically Gold market is getting support at 31004 and below same could see a test of 31867 levels and resistance is now likely to be seen at 32249, a move above could see prices testing 32357. GOLD FEB BUY AROUND 32100-32120 TGTS 32200/32300 SL 32000 RESISTANCE 2 RESISTANCE 1 PIVOT SUPPORT 1 SUPPORT 2 32357 32249 31112 31004 31867
Analyst Speaks Tue 15 Jan 2019 MCX CRUDE OIL Technically Crude Oil market is getting support at 3573 and below same could see a test of 3531 levels and resistance is now likely to be seen at 3673 a move above could see prices testing 3719. CRUDE OIL JAN SELL AROUND 3660-3650 TGTS 3620/3580 SL 3690 RESISTANCE 2 RESISTANCE 1 PIVOT SUPPORT 1 SUPPORT 2 3719 3673 3625 3573 3531
Today s Economic Events Tue 15 Jan 2019 COUNTRY TIME EVENTS ACTUAL FORECAST PREVIOUS USD 07:00PM PPI m/m Core PPI m/m - - -0.1% 0.2% 0.1% 0.3% FOMC Member George Speaks - - -
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