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MCX GOLD Daily Chart GOLD Commentary Fundamental News: Gold prices were hovering near after four-month highs on Thursday, propelled higher by a weaker dollar, which hit fresh three-year lows after the Trump administration signaled that it preferred a weaker currency. Technical Outlook: Gold may expect a high volatility trade due to customs duty reduce on India s budget. So, Buy above 30550 with TGT 30709 & 31058 SL 30350 or else Short below 30150 with TGT 29960 & 29549 SL 30350. R1 30566 R2 30709 R3 31258 S1 29956 S2 29549 S3 29264 MCX SILVER Daily Chart Data to Watch: US Personal Spending m/m, US CB Consumer Confidence, CHINA Manufacturing PMI, CHINA Non- Manufacturing PMI, US President Trump Speaks, US ADP Non- Farm Employment Change, US Chicago PMI, US Pending Home Sales m/m, US FOMC Statement, US Federal Funds Rate, CHINA Caixin Manufacturing PMI, US ISM Manufacturing PMI, US Average Hourly Earnings m/m, US Non-Farm Employment Change, US Unemployment Rate, US Revised UoM Consumer Sentiment. SILVER Commentary FOMC Member Harker Speaks Fundamental News: The US Dollar which measures the greenback s strength against a trade-weighted basket of six major currencies, was last at 89.04, after hitting an overnight low of 88.62, Silver was up 0.15% at $17.52 a troy ounce. Technical Outlook: Silver has witnessed a high volatility trade. Go long above 40180 with TGT of 40400 & 40614 and maintain SL of 39950 or else Sell below 39750 with TGT 39525 & 39303 and keep SL of 39950 level. R1 40400 R2 40614 R3 40802 S1 39522 S2 38839 S3 38426 Data to Watch: US Personal Spending m/m, US CB Consumer Confidence, CHINA Manufacturing PMI, CHINA Non- Manufacturing PMI, US President Trump Speaks, US ADP Non- Farm Employment Change, US Chicago PMI, US Pending Home Sales m/m, US FOMC Statement, US Federal Funds Rate, CHINA Caixin Manufacturing PMI, US ISM Manufacturing PMI, US Average Hourly Earnings m/m, US Non-Farm Employment Change, US Unemployment Rate, US Revised UoM Consumer Sentiment. 2
MCX CRUDE OIL Daily Chart CRUDE OIL Commentary Fundamental News: WTI Crude futures are up 0.9% at $66.09 per barrel, which marks a new three-year high, but the energy sector (+0.4%) is trading a step behind the broader market after a solid. start to the year; energy has added 7.2% in 2018. Technical Outlook: Crude Oil has remains in a profit booking mode until close above 4229 level. Go Short below 4160 With TGT of 4115 & 4040 and keep Sl of 4218 or else long near 4262 with TGT of 4320 & 4368 and keep stop loss of 4218. R1 4216 R2 4322 R3 4368 S1 4178 S2 4115 S3 4040 MCX NATURAL GAS Daily Chart Data to Watch: US Personal Spending m/m, US CB Consumer Confidence, CHINA Manufacturing PMI, US President Trump Speaks, US ADP Non-Farm Employment Change, US Employment Cost Index q/q, US Chicago PMI, US Pending Home Sales m/m, US Crude Oil Inventories, US FOMC Statement, US Federal Funds Rate, CHINA Caixin Manufacturing PMI, US ISM Manufacturing PMI, US Average Hourly Earnings m/m, US Non-Farm Employment Change, US Unemployment Rate, US Revised UoM Consumer Sentiment. NATURAL GAS Commentary Fundamental News: Temperatures are expected to moderate over most of the country beginning this weekend. Highs will reach into the 40s and 50s in the Northeast, while the South could see highs near 70. Colder weather in the West will move inland next week, bring snow and rain to the Midwest before continuing east. Overall demand for natural gas is forecast to be moderate for the coming week but is expected to rise to the high range by the middle of next week. Technical Outlook: R1 208.3 R2 212.6 R3 222.8 Natural Gas has close below 194 means some more drop ahead. Go Short below 194 with TGT of 190 & 178.7 and keep stop loss of 200 Or else Go long above 204 with TGT of 208.3 & 212.6 and Keep SL of 200 level. Data to Watch: US Natural Gas Storage. S1 189.8 S2 178.7 S3 164 3
MCX COPPER Daily Chart COPPER Commentary Fundamental News: Copper mining deals are off to the best start in at least 12 years -- and more money could be pouring into the sector this year. Technical Outlook: Copper has witnessed a range bound trade with support of 443.35 level. So, go long near 443.35 with TGT of 449 & 459.2 and maintain Stop loss of 438 or else go short below 433 with TGT 428.1 & 423 and keep sl of 438 level. R1 459.2 R2 464.7 R3 471.5 S1 443.35 S2 428.1 S3 402.05 MCX ALUMINIUM Daily Chart FOMC Statement, US Federal Funds Rate, CHINA Caixin Manufacturing PMI, GBP Manufacturing PMI, US ISM Manufacturing PMI, GBP Construction PMI, US Average Hourly Earnings m/m, US Non-Farm Employment Change, US Unemployment Rate, US Revised UoM Consumer Sentiment. ALUMINIUM Commentary Fundamental News: Base metals prices on the Shanghai Futures Exchange were mostly lower during Asian morning trading on Friday after profit-taking emerged following a strong performance across the complex on Thursday. Technical Outlook: Aluminium has witnessed a mild profit booking rally. So, go long above 145 with TGT of 146.5 & 148.8 keep SL of 143 & Go short near 140.7 with TGT of 138.7 & 136.3 and keep Sl of 143. R1 144 R2 146.5 R3 148.8 S1 138.7 S2 136.3 S3 130.25 FOMC Statement, US Federal Funds Rate, CHINA Caixin Manufacturing PMI, GBP Manufacturing PMI, US ISM Manufacturing PMI, GBP Construction PMI, US Average Hourly Earnings m/m, US Non-Farm Employment Change, US Unemployment Rate, US Revised UoM Consumer Sentiment. 4
MCX LEAD Daily Chart LEAD Commentary Technical Outlook: Lead has witnessed a negative range bound trade. So, go short near 166.95 with TGT of 163.4 & 161.7 and keep SL of 168.75. FOMC Statement, US Federal Funds Rate, CHINA Caixin Manufacturing PMI, GBP Manufacturing PMI, US ISM Manufacturing PMI, GBP Construction PMI. R1 166.95 R2 169.9 R3 171.8 S1 163.4 S2 161.7 S3 160.1 MCX ZINC Daily Chart ZINC Commentary Technical Outlook: Zinc has close below 219 means some more drop ahead. So, short below 219 with TGT of 217 & 214.3 and SL of 222. MCX NICKEL Daily Chart FOMC Statement, US Federal Funds Rate, CHINA Caixin Manufacturing PMI, GBP Manufacturing PMI, US ISM R1 221.8 R2 225.4 R3 229.9 S1 217 S2 214.3 S3 211.65 NICKEL Commentary Technical Outlook: Nickel has witnessed a positive trade. So, go long near 835.7 with TGT of 855 & 885 SL 805 level. FOMC Statement, US Federal Funds Rate. R1 885 R2 924.1 R3 1019.4 S1 835.7 S2 813.2 S3 790.7 5
Weekly MCX COMMODITY CHANGE Indices Close Change % GOLD 30361.00 606.00 2.04 SILVER 39960.00 991 2.54 CRUDE OIL 4190.00 152 3.76 NATURAL GAS 200.10-3.4-1.67 COPPER 451.85 1.4 0.31 ALUMINIUM 141.60-0.15-0.11 LEAD 164.25-1.15-0.70 ZINC 221.60 2.6 1.19 NICKEL 868.20 60.4 7.48 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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