Daily market outlook LME Inventory Support _Resistance News Daily Candlestick EPIC RESEARCH SINGAPORE
PRECIOUS METALS AND INDUSTRIAL METALS COMMODITY UNIT PRICE CHANGE % CHANGE CONTRACT COMEX GOLD USD/T OZ. 1308.85 1.55 0.12 APR-19 COMEX SILVER USD/T OZ. 15.482 0.045 0.29 MAY-19 COMEX COPPER USD/LB. 2.905-0.005-0.17 MAY-19 PALTINUM USD/T OZ. 859.70-2.60-0.31 APR-19 ENERGY COMMODITY FUTURES COMMODITY UNIT PRICE CHANGE % CHANGE CONTRACT CRUDE OIL(WTI) USD/BBL. 59.84-0.14-0.23 APR-19 CRUDE OIL(BRENT) USD/BBL. 67.75-0.11-0.16 MAY-19 NY. NATURAL GAS USD/MMBTU 2.792-0.025-0.89 APR-19 NY. HEATING OIL USD/GAL. 1.9832 0.0002 0.01 APR-19 LME WAREHOUSE STOCKS (INVENTORY) METALS INVENTORY CHANGE (MT) ALUMINIUM -6275 COPPER -1925 LEAD 325 TIN NA ZINC -175 BY EPIC RESEARCH SINGAPORE
DAILY SUPPORT & RESISTANCE COMMODITY SUPPORT 2 SUPPORT-1 PIVOT POINT RESISTANCE-1 RESISTANCE-2 GOLD 1293.32 1300.79 1310.42 1317.89 1327.52 SILVER 15.235 15.349 15.497 15.611 15.759 WTI CRUDEOIL 59.27 59.59 59.99 60.31 60.71 NATURALGAS 2.776 2.797 2.817 2.838 2.858 COPPER 2.850 2.881 2.925 2.956 3.000 INTERNATIONAL COMMODITY NEWS The palladium bull remains irrepressible, but the gold bug is having trouble staying on the bronco as the U.S. labor market lends a modicum of support to a dollar all but forsaken by the Fed. The spot price of palladium, an auto-catalyst metal, shot to record peaks for a fourth-straight day on Thursday, its third above the key $1,600 level. Spot palladium was up $5.60, or 0.4%, at 1,600.10 per ounce by 3:34 PM ET (19:34 GMT), after setting an all -time high at $1,616.30. Oil prices on Friday hovered close to 2019 peaks reached the previous day, propped up by supply cuts led by producer club OPEC and by U.S. sanctions against Iran and Venezuela. Brent crude oil futures were at $67.82 per barrel at 0122 GMT, down 4 cents from their last close but within a dollar of the $68.69 per barrel 2019-high marked the day before. U.S. West Texas Intermediate (WTI) futures were at $60 per barrel, virtually unchanged from their last settlement and not far off their 2019 peak of $60.39 touched on Thursday. Aggressive OPEC cuts, virtually-frozen Venezuelan oil exports, U.S. crude stockpile slumps and friendly interest rates in the United States are stoking a herd-like mentality to chase prices to new 2019 highs after West Texas Intermediate futures breached the $60 per barrel mark on Wednesday for the first time since November. But a still-wobbly Chinese and global economy and the possibility of a new wall of U.S. supply from shale operators reveling in profits to be made at current prices are also fostering enough negativity to temper funds from rushing into new long positions. Greece's Japan's international annual core consumer lenders inflation prepared slowed on Thursday in February to as unblock gasoline about costs fell 8.5 for billion the first euros time ($9.5 in more billion) than intwo years, keeping the central bank under pressure to maintain, or even ramp up, stimulus to accelerate price growth to its 2 percent target. The data adds to growing signs that Sino-U.S. trade tensions and slowing global demand are hurting Japan's economic expansion and business sentiment. China's state planner on Friday approved a new airport project worth 650 million yuan ($97.0 million) in the western Xinjiang region. The approval was announced by the National Development and Reform Commission on its website. Investors are betting on heightened political uncertainty and greater volatility in European stock markets ahead of European Parliament elections in May amid growing concerns about rising populism. In one of the first concrete signs in financial markets that investors are bracing for political instability, VSTOXX futures, which reflect investor sentiment and economic uncertainty, have jumped in recent weeks. BY EPIC RESEARCH SINGAPORE
ECONOMIC CALENDAR Time Cur. Event Forecast Previous Friday, March 22, 2019 00:00 MYR CPI (YoY) (Feb) -0.3% -0.7% 09:30 USD FOMC Member Bostic Speaks 09:45 USD Manufacturing PMI (Mar) 53.5 53.0 09:45 USD Services PMI (Mar) 55.7 56.0 10:00 USD Existing Home Sales (MoM) (Feb) 2.2% -1.2% 10:00 USD Existing Home Sales (Feb) 5.10M 4.94M 13:00 USD U.S. Baker Hughes Oil Rig Count 833 13:00 USD U.S. Baker Hughes Total Rig Count 1,026 14:00 USD Federal Budget Balance (Feb) -228.0B 9.0B 15:30 GBP CFTC GBP speculative net positions -36.7K 15:30 USD CFTC Crude Oil speculative net positions 362.3K 15:30 USD CFTC Gold speculative net positions 78.8K 15:30 USD CFTC S&P 500 speculative net positions -66.9K 15:30 AUD CFTC AUD speculative net positions -43.7K 15:30 JPY CFTC JPY speculative net positions -58.8K BY EPIC RESEARCH SINGAPORE
GOLD COMEX DAILY CANDLESTICK TRADING STRATEGY : BUY GOLD ABOVE 1315 TGT 1320 1330 SL BELOW 1305 SELL GOLD BELOW 1305 TGT 1300 1290 SL ABOVE 1315 BY EPIC RESEARCH SINGAPORE
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