Commodity Trading Tips

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30/09/2015

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DAILY MCX NEWSLETTER


BULLION:

Gold steadied after a three-day losing streak but was headed for its worst quarter

in a year on a looming U.S. rate hike. The metal's 15 percent loss this quarter is

its fifth straight quarterly drop and its worst three-month period since the third

quarter of 2008. It is down 9 percent for the month, its biggest monthly drop

since May 2012. Gold has been hurt by expectations that the Federal Reserve

would raise U.S. rates this year for the first time in nearly a decade, a move that

could dent demand for non-interest-paying bullion. Traders will be eyeing a

speech by Fed Chair Janet Yellen later on Wednesday.

BASE METAL: Base metals market was overshadowed by

sluggish Chinese and European economy,

possible rate hike in the US, falling copper

demand in China and selloffs in Glencore’s

shares earlier. China’s support for infrastructure

projects will cheer market up. Today is the last

trading day before the week-log Chinese

holiday, so caution will dominate. LME copper

should move between USD 4,950-5,010/mt on

Wednesday. SHFE 1512 copper should rise to

RMB 37,800-38,300/mt on exit of shorts before

the holiday. In China’s spot market, trading

activity will quiet down, and spot discounts of

RMB 0-30/mt.

ENERGY:

Crude oil futures fell in Asian trade on Wednesday after U.S. inventories showed a weekly buildup that far exceeded analyst

expectations. The American Petroleum Institute said late on Tuesday that U.S. crude oil stockpiles rose by 4.6 million barrels to 457.8

million barrels in the week to Sept. 25. Analysts polled by Reuters had expected an increase of only 102,000 barrels. U.S. crude oil

production should continue on its decline with falling rig counts," Ang said. Wednesday's session may have added volatility due to

the close of September and third-quarter trading, according to some analysts.


CS GOLD (OCTOBER) OVERVIEW:

TREND : BEARISH RESIST 2: 26580 RESIST 1: 26460

SUP 1: 26050 SUP 2: 25870

STRATEGY: SELL ON RISE

CS SILVER (DECEMBER) OVERVIEW:

TREND : BEARISH RESIST 2:35470 RESIST 1:35225

SUP1:34630 SUP2:34250

STRATEGY : SELL ON RISE

CS CRUDE OIL (OCTOBER) OVERVIEW:

TREND :BEARISH

RESIST 2:3070 RESIST 1:3030

SUP1:2950 SUP2:2920


CS NATURAL GAS (OCTOBER) OVERVIEW:

TREND :BEARISH RESIST 2:177 RESIST 1:174

SUP1: 170 SUP2:167


BULLION & ENERGY


CS COPPER (NOVEMBER) OVERVIEW:

TREND :BEARISH

RESIST 2:337 RESIST 1:335

SUP1:330 SUP2:328


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MCX CRUDE OIL OCT., Tuesday as seen in the daily chart opened at 2968 levels and day high of

3033 levels. During this period price corrected & made day low of 2953 levels finally closed at


COMMODITY PICK OF THE DAY: CRUDE OIL

3026 levels. Now, there are chances of further downward movement technically &

fundamentally.

Crude oil futures fell in Asian trade on Wednesday after U.S. inventories showed a weekly buildup that far exceeded analyst

expectations.

DAILY RECOMMENDATION: SELL MCX CRUDE OIL OCT., BELOW 3000 LEVELS FOR

TARGET OF T1 2900/T2 2850 WITH SL OF 3120 LEVELS.


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Commodity Trading Tips

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