COMMODITY REPORT 2017 Monday-Friday Trade House 426 Alok Nagar, Kanadia Main Road Near Bangali Square Indore-452001 (M.P.) India Mobile :+91-9039261444 E-mail: info@tradenivesh.in Telephone :+91-731-698.3000
COMMODITIES PREVIOUS WEEK MCX 12-5-2017 CLOSING PRICE 19-5-2017 CLOSING PRICE VALUE CHANGED % CHANGED GOLD (JUNE) 28005 28644 +639 +2.28% SILVER (MAY) 38155 39124 +969 +2.53% CRUDE OIL (MAY.) 3066 3276 +210 +6.84% NATURAL GAS (MAY) 219.80 210.40-9.40-4.27% COPPER (JUN) 360 369.40 +9.40 +2.61% NICKEL (MAY) 598.60 603.80 +5.20 +0.86% LEAD (MAY) 136.30 135.80-0.50-0.36% ZINC (MAY.) 163.80 169.70 +5.90 +3.60% ALUMINIUM (MAY.) 121.15 125.45 +4.30 +3.54% 2
GOLD (JUNE) R3 30580 R2 29570 R1 29100 Pivot 28540 S1 28080 S2 27520 GOLD (JUN) LEVEL TGT-1 TGT-2 STOP LOSS BUY 29080 29600 33000 28500 SELL 28350 27800 26900 28900 OPEN 28024 HIGH 29004 LOW 27982 CLOSE 28644 CHANGE +639 S3 26450 % CHANGE +2.28% FUNDAMENTAL VIEW:- Gold drifted weaker in Asia on Monday as Donald Trump's first visits abroad as president were in focus with a flurry of deals signed in Saudi Arabia in the first stop and with investors shrugging off the latest missile test by North Korea at the weekend. Gold for June delivery eased 0.05% to 1,252.99 a troy ounce. In the week ahead, investors will be looking at Wednesday s Federal Reserve meeting minutes for fresh indications on the possible timing of the next U.S. rate hike. Revised data on U.S. first quarter growth and private sector survey data out of the euro zone will also be in focus. TECHNICAL VIEW:-Gold closed around 28625 Gold price continues to provide positive trading to settle at the previously broken support of the bullish channel that appears on chart, and as long as the price is below this level, the bearish trend scenario will remain expected for the upcoming period, supported by stochastic lose to the positive momentum, as the main target is located at 29550. if it break this level than gold may be more up around 30200 other wise we can sell it on upper level to target of 28000. 3
SILVER (JUL.) R3 41200 R2 40050 R1 39580 Pivot 38900 S1 38450 S2 37750 SILVER(MAY LEVEL TGT-1 TGT-2 STOP LOSS BUY 39750 40500 41400 38600 SELL 38400 37600 36700 39380 OPEN 38231 HIGH 39375 LOW 38231 CLOSE 39124 CHANGE +969 S3 36600 % CHANGE +2.53% FUNDAMENTAL VIEW:- Silver futures rose over 1 per cent during evening trade in the domestic market on Thursday as investors and speculators extended their positions in the precious metal as the dollar slid after the US President Trump said that he would prefer the US Fed to keep interest rates low and suggested the greenback is too strong. Moreover, rising tensions over US relations with Russia and North Korea, too lifted silver prices. At the MCX, silver futures for May 2017 contract is trading at Rs 42626 per kg, up by 1 per cent, after opening at Rs 42301, against a previous close of Rs 42202. It touched the intra-day high of Rs 42639 TECHNICAL VIEW:- Silver markets had a strong week as we reached around 39375and closed at 39111, an area that of course has a certain amount of psychological importance and has previously shown itself to be both support and resistance. Silver is being moved by several different issues currently, than silver market me be more up side around 41000. if it give the break out of level of 39895.outher wise we can sell it on new high level. 4
COPPER (JUNE) R3 393 R2 379 R1 375 Pivot 365 S1 361 S2 352 COPPER (JUN) LEVEL TGT-1 TGT-2 STOP LOSS BUY 368 377.8 387 360 SELL 359 349 341 372.8 OPEN 360.45 HIGH 370.20 LOW 356.80 CLOSE 369.40 CHANGE +9.40 S3 338 % CHANGE +2.61% FUNDAMENTAL VIEW:- Copper futures were trading higher during afternoon trade in the domestic market on Thursday as investors and speculators extended their positions in the industrial metal as the US dollar slid after President Trump said that the currency was too strong. Moreover, prices of copper also got a boost after upbeat China trade data for March, and as traders closed positions ahead of the long Easter holiday weekend. At the MCX, copper futures for April 2017 contract is trading at Rs 365.85 per kg, up by 0.58 per cent, after opening at Rs 365.40, against a previous close of Rs 363.75. It touched the intra-day high of Rs 368.20 TECHNICAL VIEW:- copper main trend is down according to the daily swing chart. but copper had not broken of the last week down level 353.85and broken of high level of 365.50 that was its went to more up side but there was not strong support level. so we can sell it more upper level or if it give the break out of 386.50 then we can not sell it 5
CRUDE (JUN) R3 3580 R2 3400 R1 3340 Pivot 3230 S1 3165 S2 3050 CRUDE (MAY) LEVEL TGT-1 TGT-2 STOP LOSS BUY 3310 3390 3460 3200 SELL 3165 3080 2980 3326 OPEN 3120 HIGH 3292 LOW 3120 CLOSE 3276 CHANGE +210 S3 2880 % CHANGE +6.84% FUNDAMENTAL VIEW:- Crude prices held strong gains in Asia on Monday, shrugging off the latest missile test by North Korea and waiting for the big meeting on May 25 widely expected to extend an oil output cut pact through March 2018. The U.S. West Texas Intermediate crude June contract rose 0.99% to $51.17 a barrel. Elsewhere, on the ICE Futures Exchange in London, Brent oil for July delivery were last quoted at $53.88 a barrel. oil futures settled at a four-week high, with prices scoring a weekly gain of more than 5% amid optimism that key producers will extend output cuts beyond an agreed-on June deadline when they meet later this month. TECHNICAL VIEW:- Crude Oil market shot to the upside during the week, clearing the 3300 level on Friday. and closed at 3277. if crude oil give the break out level of 3335 then it may be more up around 3400. other wise its touch of 55 days resistance level and go to more down around 3100. 6
NATURAL GAS (MAY) R3 242 R2 227 R1 218 Pivot 211 S1 202 S2 195 N.GAS(APR) LEVEL TGT-1 TGT-2 STOP LOSS BUY 223 233 245 210 SELL 215 205 195 226.5 OPEN 218.40 HIGH 218.70 LOW 203.20 CLOSE 210.40 CHANGE -9.40 S3 179 % CHANGE -4.27% FUNDAMENTAL VIEW:- U.S. natural gas futures edged higher on Thursday, despite data showing that natural gas supplies in storage in the U.S. rose more than expected last week. U.S. natural gas for June delivery ticked up 1.3 cents, or around 0.4%, to $3.205 per million British thermal units by 10:35AM. Futures were at around $3.192 prior to the release of the supply data before falling to a session low of $3.168, the weakest level since May 8. Prices of the heating fell 3.8 cents on Wednesday amid bearish weather forecasts. TECHNICAL VIEW:-Natural Gas did not give the break out of last week high level 220 and this week natural gas have closed around 210.60 natural- gas this week did not give us new high level and didn't give the new low level. it was is consolidate.if it give the break out of resistance level of 223 than it may be more up side around 241 so we think that we should buy it around 219 to target of 228 other wise we can sell it below 215 to target of 190 and maintain sl of 225. 7
STATUS OF OUR LAST RECOMMENDATIONS PRODUCT RECOMMENDATIONS PROFIT/ LOSS STATUS GOLD BUY GOLD AROUND 28650-28750 TGT 29050 AND 29800 SL 27900 BELOW SELL GOLD AROUND 28000-28150TGT 27600 AND 26800 SL 28900 ABOVE 35000 ALMOST ACHIEVED 1ST TGT 0 NOT EXECUTED SILVER BUY SILVER 38700 TGT 39500 AND 40100 SL 37900 BELOW 12330 CLOSED IN PROFIT SELL SILVER BELOW 37700 TGT 36900 AND 36000 SL 38700 ABOVE 0 NOT EXECUTED CRUDE OIL BUY CRUDEOIL ABOVE 3170 TGT 3270-3380 SL 2900 BELOW 10000 1ST TGT ACHIEVED SELL CRUDEOIL BELOW 3000 TGT 2920-2820 SL 3250 ABOVE 0 NOT EXECUTED NATURAL GAS SELL NETURAL GAS BELOW 219 TGT 209-200 SL 230 ABOVE 12500 1ST TGT ACHIEVED BUY NATURAL GAS AROUND 228 TGT - 236-245 SL 210 ABOVE 0 NOT EXECUTED COPPER BUY COPPER AROUND 359 TGT 370-382 SL 350.50 BELOW 10000 1ST TGT ACHIEVED COPPER SELL COPPER BELOW 351 TGT 345-332 SL 361 ABOVE 0 NOT EXECUTED P&L P&L 79830 PROFIT 8
ECONOMIC CALENDER Time Cur. Event Actual Forecast Previous Monday, May 22, 2017 01:30 USD Investing.com Gold Index 66.30% 69.80% Tuesday, May 23, 2017 10:00 USD New Home Sales (Apr) 610K 621K 298K Wednesday, May 24, 2017 10:00 USD Existing Home Sales (Apr) 5.65M 5.71M 258K 14:00 USD FOMC Meeting Minutes 227K Thursday, May 25, 2017 08:30 USD Continuing Jobless Claims 1,925K 1,898K 97.6 13:00 USD 7-Year Note Auction 2.08% Friday, May 26, 2017 08:30 USD Core Durable Goods Orders (MoM) (Apr) -0.20% 08:30 USD GDP (QoQ) (Q1) 0.70% 9
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