(15 th -Oct-2018) 1
15 th -Oct-2018 MCX GOLD Daily Chart GOLD Commentary Fundamental News: This week precious metals traders will see whether gold s surge higher can be sustained after a rout in global equity markets which coincided with weakness in the dollar bolstered safe haven demand for the yellow metal. Technical Outlook: Gold has witnessed a positive trend to use buy on dips. So, Buy at 31842 with TGT 31998 & 32189 SL 31687 or else Short below 31532 with TGT 31377 & 31186 SL 31687. R1 31998 R2 32189 R3 32499 S1 31377 S2 31186 S3 30875 MCX SILVER Daily Chart CHNA CPI y/y. US FOMC Member Daly Speaks, US Building Permits, US Housing Starts, US FOMC Member Brainard Speaks, US FOMC Meeting Minutes, JAPAN BOJ Gov Kuroda Speaks, US Philly Fed Manufacturing Index, US Unemployment Claims, CHINA GDP q/y, CHINA Fixed Asset Investment ytd/y, CHINA Industrial Production y/y, CHIHA NBS Press Conference, CANADA CPI m/m, CANADA Core Retail Sales m/m, US FOMC Member Bostic Speaks. SILVER Commentary Fundamental News: Interest rate increases and higher U.S. bond yields dampen appeal for precious metals which offers no yield. Technical Outlook: Silver has witnessed a positive trend to use buy on dips. Go long at 38931 with TGT of 39077 & 39549 and maintain SL of 38785 or else Sell below 38639 with TGT 38493 & 38021 and keep SL of 38785 level. R1 39077 R2 39549 R3 40201 CHNA CPI y/y. US FOMC Member Daly Speaks, US Building Permits, US Housing Starts, US FOMC Member Brainard Speaks, US FOMC Meeting Minutes, JAPAN BOJ Gov Kuroda Speaks, US Philly Fed Manufacturing Index, US Unemployment Claims, CHINA GDP q/y, CHINA Fixed Asset Investment ytd/y, CHINA Industrial Production y/y, CHIHA NBS Press Conference, CANADA CPI m/m, CANADA Core Retail Sales m/m, US FOMC Member Bostic Speaks. S1 38493 S2 38313 S3 38021 2
MCX CRUDE OIL Daily Chart CRUDE OIL Commentary Fundamental News: Market players are likely to stay focused on global crude supplies in the upcoming week, after a pair of closely watched forecasters said world oil stocks are adequate and the outlook for demand is weakening. Technical Outlook: Crude Oil has witnessed a support near 5186 level. Go long at 5186 With TGT of 5275 & 5350 and keep Sl of 5100 or else short below 5050 with TGT of 5000 & 4950 and keep stop loss of 5100. R1 5496 R2 5587 R3 5734 S1 5186 S2 5112 S3 4950 MCX NATURAL GAS Daily Chart Data to Watch: US Retail Sales m/m, CHNA CPI y/y. US FOMC Member Daly Speaks, US Building Permits, US Housing Starts, US Crude Oil Inventories, US FOMC Member Brainard Speaks, US FOMC Meeting Minutes, JAPAN BOJ Gov Kuroda Speaks, US Philly Fed Manufacturing Index, US Unemployment Claims, CHINA GDP q/y, CHINA Industrial Production y/y, CHIHA NBS Press Conference, CANADA CPI m/m, US FOMC Member Bostic Speaks. NATURAL GAS Commentary Fundamental News: The market will continue to see certain amount of underlying demand, but I think part of this may have been due to fears about what damage hurricane conditions in the Gulf of Mexico may have done. Ultimately, we have colder temperatures coming as well so that might have been a bit of front running. We have gotten way ahead of ourselves though, so a pullback makes complete sense. Technical Outlook: Natural Gas has witnessed a profit booking mode. Go Short at 235.1 with TGT of 231.4 & 226.8 and keep stop loss of 238.8 Or else Go long above 242.5 with TGT of 246.2 & 250.8 and Keep SL of 238.8 level. Data to Watch: US Natural Gas Storage. R1 246.2 R2 250.8 R3 258.2 S1 231.4 S2 226.8 S3 219.4 3
MCX COPPER Daily Chart COPPER Commentary Fundamental News: This was supported by the emergence of fresh buying amid a softer US dollar index and increased market optimism about trade talks between the United States and China. Technical Outlook: Copper has witnessed a positive range bound trade. So, to use buy on dips strategy. So, go long at 460.4 with TGT of 463.6 & 467.55 and maintain Sl of 457.15 or else go short below 453.9 with TGT 450.65 & 446.7 and keep sl of 457.15 level. R1 463.6 R2 471.6 R3 480.4 S1 450.65 S2 443.25 S3 434..45 MCX ALUMINIUM Daily Chart Housing Starts, US FOMC Member Brainard Speaks, US FOMC Meeting Minutes, JAPAN BOJ Gov Kuroda Speaks, GBP Retail Sales m/m, EUR EU Economic Summit, US Philly Fed Manufacturing Index, US Unemployment Claims, CHINA GDP q/y, CHINA Industrial Production y/y, CHIHA NBS Press Conference. ALUMINIUM Commentary Fundamental News: Brazilian government s U-turn on an earlier decision, allowing the Alunorte alumina refinery to resume production at 50% capacity. Technical Outlook: Aluminium has witnessed a negative bias. So, go short below 153.5 with TGT of 154.85 & 156.6 keep SL of 152.15 & Go long above 150.75 with TGT of 149.35 & 147.7 and keep Sl of 152.15. R1 154.9 R2 156.6 R3 159.3 S1 149.35 S2 147.65 S3 144.9 Housing Starts, US FOMC Member Brainard Speaks, US FOMC Meeting Minutes, JAPAN BOJ Gov Kuroda Speaks, GBP Retail Sales m/m, EUR EU Economic Summit, US Philly Fed Manufacturing Index, US Unemployment Claims, CHINA GDP q/y, CHINA Industrial Production y/y, CHIHA NBS Press Conference. 4
15 21 th st -May-2018 -Oct-2018 MCX LEAD Daily Chart LEAD Commentary Technical Outlook: Total lead mine output has declined by 114,000 tones. So, go long at 151.75 with TGT of 154.6 & 158.15 and keep SL of 148.9. Housing Starts, US FOMC Member Brainard Speaks, US FOMC Meeting Minutes, JAPAN BOJ Gov Kuroda Speaks, GBP Retail Sales m/m, EUR EU Economic Summit. R1 154.65 R2 158.15 R3 163.85 S1 143.2 S2 139.65 S3 133.95 MCX ZINC Daily Chart ZINC Commentary Technical Outlook: Zinc has witnessed a high volatility trade. So, short at 196.3 with TGT of 194.25 & 191.7 and SL of 198.4. MCX NICKEL Daily Chart Housing Starts, US FOMC Member Brainard Speaks, US FOMC Meeting Minutes, JAPAN BOJ Gov Kuroda Speaks, GBP Retail Sales m/m, EUR EU Economic Summit. R1 202.55 R2 206.2 R3 209.25 S1 194.2 S2 191.65 S3 187.5 NICKEL Commentary Technical Outlook: Nickel has remains in positive bias. So, go long at 946.6 with TGT of 955.4 & 966.2 SL of 937.8 level. Housing Starts, US FOMC Member Brainard Speaks. R1 955.4 R2 966.2 R3 983.7 S1 920.4 S2 909.5 S3 891.9 5
Weekly MCX COMMODITY CHANGE Indices Close Change % GOLD 31846.00 203 0.64 SILVER 38918.00-356 -0.91 CRUDE OIL 5243.00-303 -5.46 NATURAL GAS 234.20 1.5 0.64 COPPER 459.55 3 0.66 ALUMINIUM 150.00-7.7-4.88 LEAD 152.20 4.3 2.91 ZINC 197.70-0.25-0.13 NICKEL 932.80-7.4-0.79 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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