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MCX GOLD Daily Chart GOLD Commentary Fundamental News: Gold prices fell sharply on Friday but remained on track to snap three to three-week losing streak amid dollar weakness. Technical Outlook: Gold has witnessed a profit booking rally ahead. So, Buy near 28668 with TGT 28890 & 29115 SL 28455 or else Short near 29600 with TGT 29450 & 29203 SL 29750. Production y/y, US Fed Chair Yellen Speaks, US PPI m/m, 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 Unemployment Claims, US Philly Fed Manufacturing Index, US Capacity Utilization Rate, US Industrial Production m/m, US FOMC Member Kaplan Speaks, CANADA CPI m/m, US Building Permits, US Housing Starts. R1 29646 R2 29937 R3 30173 S1 29382 S2 29203 S3 28668 MCX SILVER Daily Chart SILVER Commentary FOMC Member Harker Speaks Fundamental News: U.S. Senate Republicans unveiled a tax plan on Thursday that was significantly different from the House of Representatives version, as the Senate s plan proposed a cut to the corporate rate to 20% from 35% in 2019, which differs from the GOP plan to slash the corporate rate immediately. Technical Outlook: Silver has witnessed a negative range bound trade between 38639 to 41233 level. Go short below 38900 with TGT of 38645 & 37930 and maintain SL of 39400 or else Buy near 40000 with TGT 40300 & 41233 and keep SL of 39500 level. R1 39801 R2 40307 R3 41233 S1 38990 S2 38639 S3 37930 Production y/y, US Fed Chair Yellen Speaks, US PPI m/m, 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 Unemployment Claims, US Philly Fed Manufacturing Index, US Capacity Utilization Rate, US Industrial Production m/m, US FOMC Member Kaplan Speaks, CANADA CPI m/m, US Building Permits, US Housing Starts. 2
MCX CRUDE OIL Daily Chart CRUDE OIL Commentary Fundamental News: Crude oil prices settled lower on Friday, as. investors fretted over an uptick in U.S. production but losses were limited as expectations grew that Opec would extend its agreement on output curbs. Technical Outlook: Crude Oil has remains in positive momentum trade until break below 3680 level on EOD basis. Go Short below 3680 With TGT of 3604 & 3572 and keep Sl of 3760 or else long near 3572 with TGT of 3625 & 3680 and keep stop loss of 3500. R1 3858 R2 3952 R3 4088 S1 3604 S2 3572 S3 3521 MCX NATURAL GAS Daily Chart Production y/y, US Fed Chair Yellen Speaks, US PPI m/m, US CPI m/m, US Retail Sales m/m, US Empire State Manufacturing Index, US Crude Oil Inventories, US Unemployment Claims, US Philly Fed Manufacturing Index, US Capacity Utilization Rate, US Industrial Production m/m, US FOMC Member Kaplan Speaks, CANADA CPI m/m, US Building Permits, US Housing Starts. NATURAL GAS Commentary Fundamental News: Natural gas futures were a tad lower on Tuesday, but prices remained within sight of a seven-week high amid forecasts for more heating demand over the next two weeks. Technical Outlook: Natural Gas has witnessed a profit booking rally until close above 211 level on EOD basis. Go Short near 210.6 with TGT of 204.5 & 197.5 and keep stop loss of 212 Or else Go long above 214 with TGT of 216.5 & 227.7 and Keep SL of 212 level. Data to Watch: US Natural Gas Storage. R1 210.6 R2 216.5 R3 227.7 S1 204.1 S2 197.5 S3 189.3 3
MCX COPPER Daily Chart COPPER Commentary Fundamental News: A lack of mine disruptions in 2018 could add thousands of tonnes of copper to the market, as high prices for the metal encourage producers to avoid a repeat of this year s record outages. Technical Outlook: Copper has witnessed a negative bias and utilize any up movement for fresh short selling. So, go long above 439.05 with TGT of 444 & 449.65 and maintain Stop loss of 432 or else go short near 456 with TGT 452 & 447 and keep sl of 463 level. R1 449.65 R2 456.05 R3 460.5 S1 439.05 S2 433.55 S3 425.15 MCX ALUMINIUM Daily Chart Yellen Speaks, US PPI m/m, US CPI m/m, US Retail Sales m/m, US Empire State Manufacturing Index, US Unemployment Claims, US Philly Fed Manufacturing Index, US Industrial Production m/m, US Building Permits, US Housing Starts. ALUMINIUM Commentary Fundamental News: Base metal prices on Shanghai Futures Exchange were all higher during Asian morning trading on Friday November 10, with lead the outperformer as it finds support from expectations of increased demand, while environmental crackdowns in China have tightened supply of the metal. Technical Outlook: Aluminium has witnessed a mild short covering rally. So, go long near 136.65 with TGT of 137.8 & 139.65 keep SL of 134.8 & Go short near 141 with TGT of 139.5 & 137.2 and keep Sl of 143. R1 137.8 R2 139.65 R3 141 S1 135.1 S2 132.6 S3 127.6 Yellen Speaks, US PPI m/m, US CPI m/m, US Core Retail Sales m/ m, US Retail Sales m/m, US Empire State Manufacturing Index, US Unemployment Claims, US Philly Fed Manufacturing Index, US Industrial Production m/m, US Housing Starts. 4
MCX LEAD Daily Chart LEAD Commentary Technical Outlook: Lead has witnessed a profit booking rally. So, go short near 167.6 with TGT of 165 & 161.05 and keep SL of 171. Yellen Speaks, US PPI m/m, 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 Unemployment Claims. R1 167.6 R2 169.05 R3 170.1 S1 161.05 S2 157.45 S3 151.35 MCX ZINC Daily Chart ZINC Commentary Technical Outlook: Zinc has witnessed a high volatility trade ahead. So, short near 214.35 with TGT of 213 & 210.95 and SL of 216. MCX NICKEL Daily Chart Yellen Speaks, US PPI m/m, US CPI m/m, US Empire State Manufacturing Index, US Unemployment Claims. R1 214.35 R2 216.3 R3 218.5 S1 210.95 S2 208 S3 205.8 NICKEL Commentary Technical Outlook: Nickel has witnessed a profit booking rally. So, go short below 785 with TGT of 775 & 733 SL of 805 level. Yellen Speaks, US PPI m/m, US CPI m/m, US Core CPI m/m. R1 808 R2 821.3 R3 848 S1 775 S2 733 S3 700.2 5
Weekly MCX COMMODITY CHANGE Indices Close Change % GOLD 29491.00 403.00 1.39 SILVER 39507.00 459 1.18 CRUDE OIL 3712.00 133 3.72 NATURAL GAS 209.30 15.1 7.78 COPPER 444.40-1.4-0.31 ALUMINIUM 137.20-3.75-2.66 LEAD 164.50 4.6 2.88 ZINC 212.50 3.6 1.72 NICKEL 789.50-30.6-3.73 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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