Daily comex research report by epic research for 02 july 2014

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Transcript of Daily comex research report by epic research for 02 july 2014

Page 1: Daily comex research report by epic research for 02 july 2014

Our Presence

Epic Research India HNI & NRI Sales Contact USA Toll Free Number

411 Milinda Manor (Suites 409-425) 2117 Arbor Vista Dr. Charlotte (NC) 1-800-200-9454

2 RNT Marg. Opp Central Mall Cell: +1 704 249 2315 All queries should be directed to

Indore (M.P.) [email protected]

Hotline: +91 731 6642300 HNI & NRI Sales Contact Australia

Or give us a missed call at Mintara Road, Tarneit, Victoria, Post Code 3029

026 5309 0639 Phone: +61 422 063855

YOUR MINTVISORY WWW.EPICRESEARCH.CO CALL: +917316642300

DAILY COMEX COMMODITY REPORT

02nd JULY-2014

Page 2: Daily comex research report by epic research for 02 july 2014

PRECIOUS METALS AND INDUSTRIAL METALS

COMMODITY UNITS PRICE CHANGE % CHANGE CONTRACT

COMEX GOLD USD/T OZ. 1326.60 4.60 0.35% AUG-14

GOLD SPOT USD/T OZ. 1326.17 -0.80 -0.06% N/A

COMEX SILVER USD/T OZ. 21.07 0.00 0.00% SEP-14

SILVER SPOT USD/T OZ. 21.02 0.02 0.10% N/A

COMEX COPPER USD/LB. 3.2030 -0.0020 -0.06% SEP-14

PALTINUM SPOT USD/T OZ. 1507.25 25.50 1.72% N/A

ENERGY COMMODITY FUTURES

COMMODITY UNITS PRICE CHANGE % CHANGE CONTRACT

CRUDE OIL(WTI) USD/BBL. 105.34 -0.03 -0.03% AUG-14

CRUDE OIL(BRENT) USD/BBL. 112.29 -0.07 -0.06% AUG-14

NY. NATURAL GAS USD/MMBTU 4.455 -0.006 -0.13% AUG-14

NY. HEATING OIL USD/GAL. 297.82 0.29 0.10% AUG-14

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DAILY MARKET OUTLOOK

02nd JULY-2014

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COMMODITY SUPPORT-2 SUPPORT-1 PIVOT RESISTANCE-1 RESISTANCE-2

GOLD(AUG-14) 1317.60 1322.10 1328.50 1333.00 1339.40

SILVER(SEP-14) 20.91 20.99 21.13 21.21 21.35

WTICRUDEOIL(AUG-14) 103.85 104.60 105.34 106.09 106.83

NATURALGAS(AUG-14) 4.364 4.409 4.449 4.494 4.534

COPPER(SEP-14) 3.1850 3.1940 3.2030 3.2120 3.2210

LME BASE METALS OFFICIAL CASH PRICES ( $/MT ) LME WAREHOUSE STOCKS (INVENTORY)

METALS PRICE ( $/MT ) CHANGE % CHANGE METALS INVENTORY CHANGE (MT)

ALUMINIUM 1837.50 -13.00 -0.70% ALUMINIUM 25450

COPPER 7015.00 60.00 0.86% COPPER 25

LEAD 2129.00 0.00 0.00% LEAD -100

ZINC 2194.00 -10.50 -0.48% ZINC -525

NICKEL 18850.00 135.00 0.72% NICKEL 366

TIN 22580.00 725.00 3.32% TIN 100

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DAILY SUPPORT & RESISTANCE

02nd JULY-2014

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INTERNATIONAL COMMODITY NEWS

02nd JULY-2014

• Gold prices edged out a small gain in early Aisan trade on Wednesday in a slight follow through from gains in the U.S. overnight. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1,326.90 a troy ounce, up 0.02%, after hitting an overnight session low of $1,324.70 and off a high of $1,333.10.

• Silver for September delivery was udown 0.18% at $21.078 a troy ounce. Copper futures for September delivery were down 0.02% at $3.203 a pound.

• Crude oil prices eased in Asia on Wednesday as an industry report on U.S. supplies showed a less than expected drop. On the New York Mercantile Exchange, West Texas Intermediate Crude Oil for delivery in August traded at $105.29 a barrel, down 0.05%, after hitting an overnight session low of $104.79 a barrel and a high of $106.08 a barrel.

• Brent oil for August, the global benchmark, fell 0.1% to settle at $112.29 a barrel on Tuesday.

• Natural gas futures fell on Tuesday after markets locked in gains from warm weather forecasts, sold for profits and jumped to the sidelines ahead of Thursday's weekly U.S. supply report. On the New York Mercantile Exchange, natural gas futures for delivery in August traded at $4.454 per million British thermal units during U.S. trading, down 0.17%. The commodity hit a session high of $4.487and a low of $4.403. The August contract settled up 1.18% on Monday to end at $4.461 per million British thermal units.

• Base metals drifted on Wednesday Asian trade after a data-heavy day and ahead of the keenly-eyed Thursday’s US jobs report. In the metals, copper traded as high as $7,028.50 on Tuesday and ended at $7,020 per tonne. However, the upside provided by the stronger Chinese PMI did not last, with the metal breaking below key level $7,000 this morning. The metal is now at $6,998, trading around $22 lower than where it concluded on Monday. Aluminium was slightly lower at $1,882 from Tuesday’s $1,884, a $2 loss, with inventories seeing a bumper jump of 25,450 tonnes to a one-week high of 5,071,650 tonnes. This was due to a 31,000-tonne warranting in Vlissingen, which now holds 2,061,725 tonnes. Zinc at $2,181 is $5 lower although stocks were down 525 tonnes at 667,950 tonnes. Lead slipped $14 from $2,169 to $2,155, with stocks falling 100 tonnes to 193,700 tonnes. Nickel lost $150 overnightto $18,975 compared to Tuesday’s $19,125, with inventories climbing 366 tonnes to 305,256 tonnes, not far off recent all-time highs. Tin is the only metal to see some upside today, gaining $181 to the current $22,630 even as stocks rose 100 tonnes to 11,485 tonnes,the highest since November last year.

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EPIC DAILY TOP PICKS

02nd JULY-2014

BRENTCRUDEOIL-NYMEX DAILY CANDLESTICK CHART

TRADING STRATEGY :

BRENTCRUDEOIL-NUMEX has closed @ 111.99. If it breaks the level of 111.81, it can touch the level of 111.31 & 110.61 respectively. If it sustain

above the level of 113.15, it can touch the level of 113.65, 114.35 respectively.

SELL BRENTCRUDEOIL-NYMEX BELOW 111.81 TGTS 111.31, 110.61 SL 112.41.

BUY BRENTCRUDEOIL-NYMEX ABOVE 113.15 TGTS 113.65, 114.35 SL 112.55.

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TODAY'S ECONOMIC EVENTS

02nd JULY-2014

Page 7: Daily comex research report by epic research for 02 july 2014

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