(22 nd -Oct-2018) 1
22 nd -Oct-2018 MCX GOLD Daily Chart GOLD Commentary Fundamental News: Gold prices settled a touch lower on Friday on profit-taking from recent gains, but a weaker dollar and geopolitical worries still helped bullion coast to a third weekly gain. Technical Outlook: Gold has witnessed a range bound trade. So, Buy above 32100 with TGT 32200 & 32325 SL 31999 or else Short at 31898 with TGT 31797 & 31672 SL 31999. R1 32200 R2 32345 R3 32527 Data to Watch: US FOMC Member Bostic Speaks, CANADA BOC Monetary Policy Report, CANADA Overnight Rate, US FOMC Member Mester Speaks, US Core Durable Goods Orders m/m, US Durable Goods Orders m/m, US Unemployment Claims, US FOMC Member Clarida Speaks, US FOMC Member Mester Speaks, US Advance GDP q/q, US Advance GDP Price Index q/q, EUR ECB President Draghi Speaks, US Revised UoM Consumer Sentiment. S1 31797 S2 31672 S3 31471 MCX SILVER Daily Chart SILVER Commentary Fundamental News: Going into next week, Saudi Arabia's deepening political crisis with the West over the alleged murder of a missing journalist and Italy's budget woes should support bullion's safe-haven appeal, Silver was up 0.3% at $14.65. Technical Outlook: Silver has witnessed a range bound trade. Go long above 39097 with TGT of 39273 & 39490 and maintain SL of 38922 or else Sell at 38746 with TGT 38571 & 38324 and keep SL of 38922 level. R1 39273 R2 39490 R3 39841 Data to Watch: US FOMC Member Bostic Speaks, CANADA BOC Monetary Policy Report, CANADA Overnight Rate, US FOMC Member Mester Speaks, US Core Durable Goods Orders m/m, US Durable Goods Orders m/m, US Unemployment Claims, US FOMC Member Clarida Speaks, US FOMC Member Mester Speaks, US Advance GDP q/q, US Advance GDP Price Index q/q, EUR ECB President Draghi Speaks, US Revised UoM Consumer Sentiment. S1 38571 S2 38354 S3 38003 2
MCX CRUDE OIL Daily Chart CRUDE OIL Commentary Fundamental News: Crude oil markets fell again during the week, breaking through some technical barriers but we also have support just below. I think the next weekly candle is going to be crucial for the market, so therefore it s likely to be an interesting few days ahead of us. Technical Outlook: Crude Oil has close below 5030 means further support lies at 4947 range. Go long above 5220 With TGT of 5275 & 5344 and keep Sl of 5164 or else short below 5054 with TGT of 4985 & 4874 and keep stop loss of 5164. R1 5275 R2 5344 R3 5454 S1 5054 S2 4975 S3 4874 MCX NATURAL GAS Daily Chart Data to Watch: US FOMC Member Bostic Speaks, CANADA BOC Monetary Policy Report, CANADA Overnight Rate, US Crude Oil Inventories, US FOMC Member Mester Speaks, US Durable Goods Orders m/m, US Unemployment Claims, US FOMC Member Clarida Speaks, US FOMC Member Mester Speaks, US Advance GDP q/q, US Advance GDP Price Index q/q, EUR ECB President Draghi Speaks, US Revised UoM Consumer Sentiment. NATURAL GAS Commentary Fundamental News: The natural gas markets have gone back and forth in while trading during the week, as we are essentially neutral at this point. At this juncture, it looks as if we are getting a bit ahead of ourselves, and the previous shooting star of course has me looking at a potential pullback. Technical Outlook: Natural Gas has witnessed a mixed trend. Go Short at 235.6 with TGT of 233.3 & 230.5 and keep stop loss of 237.9 Or else Go long above 240.2 with TGT of 242.5 & 245.3 and Keep SL of 237.9 level. Data to Watch: US Natural Gas Storage. R1 242.5 R2 245.3 R3 249.9 S1 233.3 S2 230.5 S3 225.9 3
MCX COPPER Daily Chart COPPER Commentary Fundamental News: The Comex copper price rebounded in the US morning on Friday October 19 despite weak growth in China, with potential further stimulus from the Chinese central bank expected. Technical Outlook: Copper has witnessed a profit booking rally. So, go long above 458.1 with TGT of 461.75 & 466.3 and maintain Sl of 454.45 or else go short below 450.75 with TGT 447.1 & 442.6 and keep sl of 454.45 level. R1 461.75 R2 466.3 R3 473.6 S1 447.1 S2 442.55 S3 435.2 MCX ALUMINIUM Daily Chart Data to Watch: EUR French Flash Manufacturing PMI, EUR EUR Flash Services PMI, EUR Main Refinancing Rate, EUR ECB Press Conference, US Core Durable Goods Orders m/m, US Durable Goods Orders m/m, US Unemployment Claims, US Advance GDP q/q, US Advance GDP Price Index q/q, EUR ECB President Draghi Speaks, US Revised UoM Consumer Sentiment. ALUMINIUM Commentary Fundamental News: Base metal prices have made a mixed. Technical Outlook: Aluminium has witnessed a negative bias. So, go short at 148.2 with TGT of 147.2 & 146.05 keep SL of 149.15 & Go long at 150.1 with TGT of 151.1 & 152.3 and keep Sl of 149.15. R1 151.1 R2 152.3 R3 154.2 Data to Watch: US FOMC Member Bostic Speaks, GBP BOE Gov Carney Speaks, EUR French Flash Manufacturing PMI, EUR EUR Flash Services PMI, EUR Main Refinancing Rate, EUR ECB Press Conference, US Core Durable Goods Orders m/m, US Durable Goods Orders m/m, US Unemployment Claims, US Advance GDP q/q, US Advance GDP Price Index q/q, EUR ECB President Draghi Speaks, US Revised UoM Consumer Sentiment. S1 147.2 S2 146.05 S3 144.1 4
22 21 nd st -May-2018 -Oct-2018 MCX LEAD Daily Chart LEAD Commentary Technical Outlook: Next week to debate fate of Europe s lead battery manufacturing industry. So, go short at 146.45 with TGT of 144.15 & 141.25 and keep SL of 148.85. Data to Watch: US FOMC Member Bostic Speaks, GBP BOE Gov Carney Speaks, EUR French Flash Manufacturing PMI, EUR EUR Flash Services PMI, EUR Main Refinancing Rate, EUR ECB Press Conference, US Core Durable Goods Orders m/m, US Durable Goods Orders m/m, US Unemployment Claims. R1 153.5 R2 156.35 R3 161.05 S1 144.15 S2 141.25 S3 136.6 MCX ZINC Daily Chart ZINC Commentary Technical Outlook: Zinc recording a rise at 23% week on week. So, short at 194.75 with TGT of 192.95 & 190.7 and SL of 196.6. MCX NICKEL Daily Chart Data to Watch: US FOMC Member Bostic Speaks, GBP BOE Gov Carney Speaks, EUR French Flash Manufacturing PMI, EUR EUR Flash Services PMI, EUR Main Refinancing Rate, EUR ECB Press Conference, US Core Durable Goods Orders m/m, US Durable Goods Orders m/m, US Unemployment Claims. R1 200.2 R2 202.4 R3 206.05 S1 192.95 S2 190.7 S3 187.05 NICKEL Commentary Technical Outlook: Nickel has remains in positive bias until close below 895 level. So, go long at 926.9 with TGT of 936.1 & 947.6 SL of 917.6 level. Data to Watch: US FOMC Member Bostic Speaks, GBP BOE Gov Carney Speaks, EUR French Flash Manufacturing PMI, EUR R1 936.1 R2 947.6 R3 966.1 S1 899.1 S2 887.6 S3 869.1 5
Weekly MCX COMMODITY CHANGE Indices Close Change % GOLD 31902.00 56 0.18 SILVER 38796.00-122 -0.31 CRUDE OIL 5115.00-128 -2.44 NATURAL GAS 238.30 4.1 1.75 COPPER 453.00-6.55-1.43 ALUMINIUM 147.95-2.05-1.37 LEAD 145.90-6.3-4.14 ZINC 196.60-1.1-0.56 NICKEL 914.30-18.5-1.98 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
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