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MCX GOLD Daily Chart GOLD Commentary Fundamental News: Gold prices fell on Friday as investors appeared to take profit on recent gains, while German geopolitical uncertainty eased supporting an uptick in US Treasury yields which weighed on sentiment. Technical Outlook: Gold may expect a bounce back rally around 29334 until close break below 29100 level. So, Buy near 29334 with TGT 29565 & 29771 SL 29150 or else Short below 29000 with TGT 28870 & 28668 SL 29150. R1 29565 R2 29771 R3 30173 S1 29334 S2 29010 S3 28668 MCX SILVER Daily Chart Data to Watch: US New Home Sales, US CB Consumer Confidence, US FOMC Member Harker Speaks, US Prelim GDP q/q, US FOMC Member Dudley Speaks, US Fed Chair Yellen Testifies, US Pending Home Sales m/m, CHINA Manufacturing PMI, CHINA Non- Manufacturing PMI, US Unemployment Claims, US Core PCE Price Index m/m, US Personal Spending m/m, US Chicago PMI, US FOMC Member Kaplan Speaks, CHINA Caixin Manufacturing PMI, US ISM Manufacturing PMI. SILVER Commentary FOMC Member Harker Speaks Fundamental News: Easing geopolitical turmoil boosted United States 10-Year to session highs, capping upside momentum in the precious metal. Technical Outlook: Silver may expect a bounce back rally around 39013 until close break below 38800 level. Go long near 39015 with TGT of 39460 & 39963 and maintain SL of 38800 or else Sell below 38500 with TGT 38250 & 37935 and keep SL of 38800 level. R1 39460 R2 39963 R3 40689 Data to Watch: US New Home Sales, US CB Consumer Confidence, US FOMC Member Harker Speaks, US Prelim GDP q/q, US FOMC Member Dudley Speaks, US Fed Chair Yellen Testifies, US Pending Home Sales m/m, CHINA Manufacturing PMI, CHINA Non-Manufacturing PMI, US Unemployment Claims, US Core PCE Price Index m/m, US Personal Spending m/m, US Chicago PMI. S1 39013 S2 38660 S3 37935 2
MCX CRUDE OIL Daily Chart CRUDE OIL Commentary Fundamental News: Crude oil prices settled higher on Friday supported by tighter supplies amid ongoing disruption to the. Keystone pipeline, while a report suggesting OPEC and Russia agreed on a plan to extend output curbs lifted sentiment. Technical Outlook: Crude Oil has witnessed a positive trend and It possible to cross 4000 level in near future. Go Short near 3857 With TGT of 3792 & 3760 and keep Sl of 3900 or else long above 3975 with TGT of 4044 & 4088 and keep stop loss of 3900. R1 3857 R2 3950 R3 4044 S1 3760 S2 3729 S3 3665 MCX NATURAL GAS Daily Chart Data to Watch: US New Home Sales, US CB Consumer Confidence, US FOMC Member Harker Speaks, ALL OPEC Meetings, US Prelim GDP q/q, US FOMC Member Dudley Speaks, US Fed Chair Yellen Testifies, US Pending Home Sales m/m, CHINA Manufacturing PMI, CHINA Non-Manufacturing PMI, US Unemployment Claims, US Core PCE Price Index m/m, US Personal Spending m/m, US Chicago PMI, US FOMC Member Kaplan Speaks, CHINA Caixin Manufacturing PMI, US ISM Manufacturing PMI. NATURAL GAS Commentary Fundamental News: Natural gas inventory draw was less than expected. Technical Outlook: Natural Gas has witnessed a negative range bound trade in between 176 to 205.2 level. Go Short below 182 with TGT of 178 & 172.1 and keep stop loss of 190 Or else Go long above 197 with TGT of 202 & 205.2 and Keep SL of 190 level. Data to Watch: US Natural Gas Storage. R1 196.2 R2 205.2 R3 211.6 S1 183.8 S2 177.1 S3 172 3
MCX COPPER Daily Chart COPPER Commentary Fundamental News: Base metals prices on the London Metal Exchange mostly closed the week in positive territory. Technical Outlook: Copper has close witnessed a positive range bound trade. So, go long near 447.3 with TGT of 454.55 & 459.7 and maintain Stop loss of 440 or else go short near 459.7 with TGT 455 & 450 and keep sl of 467 level. R1 454.55 R2 459.7 R3 466 Sales m/m, CHINA Manufacturing PMI, CHNA Non-Manufacturing PMI, EUR German Retail Sales m/m, US Unemployment Claims, US Core PCE Price Index m/m, US Personal Spending m/m, US Chicago PMI, CHINA Caixin Manufacturing PMI, GBP Manufacturing PMI, US ISM Manufacturing PMI. S1 447.3 S2 442.8 S3 439.1 MCX ALUMINIUM Daily Chart ALUMINIUM Commentary Fundamental News: Overall, with prices already in high ground we expect rangebound trading, but after the recent weakness there may be room to challenge the top of the ranges again. Technical Outlook: Aluminium has remains in a range bound trade in between 132.35 to 140.8 level. So, go long near 132.35 with TGT of 134 & 137.25 keep SL of 129 & Go short near 140.8 with TGT of 139.15 & 136.55 and keep Sl of 142.8. R1 137.25 R2 139.3 R3 140.8 Sales m/m, CHINA Manufacturing PMI, CHNA Non-Manufacturing PMI, EUR German Retail Sales m/m, US Unemployment Claims, US Core PCE Price Index m/m, US Personal Spending m/m, US Chicago PMI, CHINA Caixin Manufacturing PMI, GBP Manufacturing PMI, US ISM Manufacturing PMI. S1 135.1 S2 132.35 S3 129.6 4
MCX LEAD Daily Chart LEAD Commentary Technical Outlook: Lead has close above 161 means further resistance near 164.95 range level. So, go long above 161 with TGT of 162 & 164.95 and keep SL of 159. Sales m/m, CHINA Manufacturing PMI, CHNA Non-Manufacturing PMI, EUR German Retail Sales m/m, US Unemployment Claims, US Core PCE Price Index m/m, US Personal Spending m/m. R1 161.75 R2 164.95 R3 168.3 S1 157.95 S2 155.5 S3 151.35 MCX ZINC Daily Chart ZINC Commentary Technical Outlook: Zinc has witnessed a positive bias. So, long above 212.2 with TGT of 213.95 & 216.3 and SL of 210. MCX NICKEL Daily Chart Sales m/m, CHINA Manufacturing PMI, CHNA Non-Manufacturing PMI, EUR German Retail Sales m/m, US Unemployment Claims, US Core PCE Price Index m/m, US Personal Spending m/m. R1 212 R2 214 R3 216.3 S1 208.25 S2 206.1 S3 202.5 NICKEL Commentary Technical Outlook: Nickel has witnessed a range bound trade. So, go long above 779 with TGT of 789 & 802 SL of 760 level. Sales m/m, CHINA Manufacturing PMI. R1 789.7 R2 802 R3 819.5 S1 763 S2 746.3 S3 720 5
Weekly MCX COMMODITY CHANGE Indices Close Change % GOLD 29380.00-310.00-1.04 SILVER 39241.00-772 -1.93 CRUDE OIL 3807.00 122 3.31 NATURAL GAS 190.00-13 -6.40 COPPER 452.10 12.1 2.75 ALUMINIUM 136.85 0.6 0.44 LEAD 160.35 1.6 1.01 ZINC 210.50 1.75 0.84 NICKEL 773.90 22.7 3.02 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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