Weekly Commodity Report (14th · Weekly Commodity Report 14th-MAR-2016 ... This report is published...
Transcript of Weekly Commodity Report (14th · Weekly Commodity Report 14th-MAR-2016 ... This report is published...
1 Commodity Weekly Report
Weekly Commodity Report (14th-MAR-2016)
2
Fundamental News: The gold rally was extinguished Friday
morning in the US after reaching a new high, while investors
now turn to next week’s Federal Reserve decision.
Technical Outlook: Gold has close below 29060 means some more
drop ahead. So, Buy near 29280 with TGT 29500 & 29700 SL
29060 or else Short below 28925 with TGT 28825 & 28492 SL
29060.
Data to Watch: JAPAN Monetary Policy Statement, US Core Retail
Sales m/m, US PPI m/m, US Retail Sales m/m, US Core PPI m/m,
US Empire State Manufacturing Index, US Building Permits, US CPI
m/m, US Core CPI m/m, US Housing Starts, US Capacity Utilization
Rate, US Industrial Production m/m, US FOMC Economic Projec-
tions, US FOMC Statement, US Philly Fed Manufacturing Index, US
Unemployment Claims, US Current Account, US JOLTS Job
Openings, US Prelim UoM Consumer Sentiment.
Weekly Commodity Report
14th-MAR-2016
Commodity Weekly Report
R1 29749 R2 30150 R3 31016
S1 29276 S2 28819 S3 28492
MCX GOLD Daily Chart
GOLD Commentary
Weekly View
Medium term View
MCX SILVER Daily Chart SILVER Commentary
Fundamental News: In US data, import prices is set to be released
later today, while Chinese industrial production, fixed assets
investment and retail sales are scheduled to be released over the
weekend. silver for May settlement increased 0.3 percent.
Technical Outlook: Silver has witnessed a bound trade between
36445 to 38250 level. Go short near 36750 with TGT of 36450 &
35915 and maintain SL of 37250 or else Buy near 37900 with
TGT 38400 & 38800 and keep SL of 37250 level.
Data to Watch: JAPAN Monetary Policy Statement, US Core Retail
Sales m/m, US PPI m/m, US Retail Sales m/m, US Core PPI m/m,
US Empire State Manufacturing Index, US Building Permits, US CPI
m/m, US Core CPI m/m, US Housing Starts, US Capacity Utilization
Rate, US Industrial Production m/m, US FOMC Economic Projec-
tions, US FOMC Statement, US Philly Fed Manufacturing Index, US
Unemployment Claims, US Current Account, US JOLTS Job
Openings, US Prelim UoM Consumer Sentiment.
Weekly View
Medium term View
R1 37850 R2 38250 R3 38800
S1 36445 S2 35915 S3 35234
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Fundamental News: Crude Oil futures jumped to their highest
level on the calendar year, extending their month-long rally from
multi-year lows, as the domestic rig count last week fell to its
lowest level on record.
Technical Outlook: Crude Oil has witnessed a positive range bias
Go long above 2670 With TGT of 2730 & 2828 and keep Sl of
2600 or else Short below 2560 with TGT of 2516 & 2466 and
keep stop loss of 2600.
Data to Watch: JAPAN Monetary Policy Statement, US Core Retail
Sales m/m, US PPI m/m, US Retail Sales m/m, US Core PPI m/m,
US Empire State Manufacturing Index, US Building Permits, US CPI
m/m, US Housing Starts, US Capacity Utilization Rate, US Industrial
Production m/m, US Crude Oil Inventories, US FOMC Economic
Projections, US FOMC Statement, US Philly Fed Manufacturing
Index, US Unemployment Claims, US Current Account, US JOLTS
Job Openings, US Prelim UoM Consumer Sentiment.
Weekly Commodity Report
14th-MAR-2016
Commodity Weekly Report
R1 2642 R2 2735 R3 2828
S1 2466 S2 2308 S3 2212
MCX CRUDE OIL Daily Chart CRUDE OIL Commentary
Weekly View
Medium term View
MCX NATURAL GAS Daily Chart NATURAL GAS Commentary
Fundamental News: U.S. natural gas futures turned lower in
North American trade on Thursday, reversing gains after data
showed U.S. natural gas supplies in storage fell broadly in line with
market expectations last week.
Technical Outlook:
Natural Gas has witnessed a short covering rally. Go long above
124 with TGT of 127.3 & 131.8 and keep stop loss of 120 Or else
Go short below 117.9 with TGT of 114.8 & 110 and Keep SL of
122 level.
Data to Watch: US Natural Gas Storage.
Weekly View
Medium term View
R1 127.3 R2 131.8 R3 136.3
S1 118.5 S2 112.6 S3 108
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Fundamental News: Copper futures experienced a modest
rebound Friday morning after the latest attempt to spur the
European economy looks promising. The new programme is
expected to be the final expansion of a massive stimulus appara-
tus and will run till at least.
Technical Outlook: Copper has witnessed a range bound trade.
So, go short near 340.3 with TGT of 335 & 331 and maintain Stop
loss of 345 or else go long above 323.6 with TGT 328 & 333 and
keep sl of 316 level.
Data to Watch: JAPAN Monetary Policy Statement, US PPI m/m,
US Retail Sales m/m, US Empire State Manufacturing Index, GBP
Average Earnings Index 3m/y, GBP Claimant Count Change, US
Building Permits, US Housing Starts, US Capacity Utilization Rate,
US Industrial Production m/m, US FOMC Statement, US Philly Fed
Manufacturing Index, US Unemployment Claims, US JOLTS Job
Openings, US Prelim UoM Consumer Sentiment.
Weekly Commodity Report
14th-MAR-2016
Commodity Weekly Report
R1 340.4 R2 348 R3 362
S1 331.15 S2 323.55 S3 317.45
MCX COPPER Daily Chart COPPER Commentary
Weekly View
Medium term View
MCX ALUMINIUM Daily Chart ALUMINIUM Commentary
Fundamental News: Base metals ended the week in positive
territory on the LME and are now awaiting Chinese data over the
weekend for fresh direction.
Technical Outlook: Aluminum has witnessed a positive rally until
close below 104.3 range. So, go long above 105.3 with TGT of
106.8 & 108.5 keep SL at 104. Go short near 108.5 with TGT of
107 & 104.8 keep SL of 110.5.
Data to Watch: JAPAN Monetary Policy Statement, US PPI m/m,
US Retail Sales m/m, US Empire State Manufacturing Index, GBP
Average Earnings Index 3m/y, GBP Claimant Count Change, US
Building Permits, US Housing Starts, US Capacity Utilization Rate,
US Industrial Production m/m, US FOMC Statement, US Philly Fed
Manufacturing Index, US Unemployment Claims, US JOLTS Job
Openings, US Prelim UoM Consumer Sentiment.
Weekly View
Medium term View
R1 106.8 R2 108.5 R3 109.55
S1 104.3 S2 102.15 S3 99.95
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Technical Outlook: Lead has witnessed a range bound trade. So,
go long near 121.8 with TGT of 123 & 128.25 and keep SL of
119.5.
Data to Watch: JAPAN Monetary Policy Statement, US PPI m/m,
US Retail Sales m/m, US Empire State Manufacturing Index, GBP
Average Earnings Index 3m/y, GBP Claimant Count Change, US
Building Permits, US Housing Starts, US Industrial Production m/
m, US FOMC Statement, US Philly Fed Manufacturing Index, US
Unemployment Claims, US JOLTS Job Openings.
Weekly Commodity Report
14th-MAR-2016
Commodity Weekly Report
MCX LEAD Daily Chart
LEAD Commentary
Weekly View
Medium term View
MCX ZINC Daily Chart ZINC Commentary
Technical Outlook: Zinc has witnessed a range bound trade. So,
go sell below 117 with TGT of 115 & 113.85 and SL of 119.9.
Data to Watch: JAPAN Monetary Policy Statement, US PPI m/m,
US Retail Sales m/m, US Empire State Manufacturing Index, GBP
Average Earnings Index 3m/y, GBP Claimant Count Change, US
Building Permits, US Housing Starts, US Capacity Utilization Rate,
US Industrial Production m/m, US FOMC Statement.
Weekly View
Medium term View
R1 126.4 R2 128.25 R3 135.1
S1 121.7 S2 118.05 S3 115.1
R1 123 R2 125.5 R3 128
S1 117.9 S2 113.5 S3 110.55
MCX NICKEL Daily Chart NICKEL Commentary
Technical Outlook: Nickel has witnessed a range bound trade. So,
go short below 588 with TGT 579.5 & 565.5 and keep SL of 610.
Data to Watch: JAPAN Monetary Policy Statement, US PPI m/m,
US Retail Sales m/m, US Empire State Manufacturing Index, GBP
Average Earnings Index 3m/y, GBP Claimant Count Change.
Weekly View
Medium term View
R1 616 R2 631 R3 656
S1 579.5 S2 565.5 S3 548.3
6 Commodity Weekly Report
Weekly MCX COMMODITY CHANGE
ECONOMIC CALENDER
Indices Close Change %
GOLD 29500 -266 -0.89
SILVER 37610 -192 -0.51
CRUDE OIL 2595 190 7.90
NATURAL GAS 123.3 11.3 10.09
COPPER 334.5 -4.7 -1.39
ALUMINIUM 104.7 -1.9 -1.78
LEAD 124.05 -1.2 -0.96
ZINC 120.95 -2.3 -1.87
NICKEL 588.7 -38 -6.06
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)
Weekly Commodity Report
14th-MAR-2016
Source : Forex Factory
7 Commodity Weekly Report
ECONOMIC CALENDER
Weekly Commodity Report
14th-MAR-2016
Source : Forex Factory
8 Commodity Weekly Report
Weekly Commodity Report
14th-MAR-2016
RESEARCHED & PREPARED BY
B.KESAVAMOORTHY— SENIOR RESEARCH MANAGER
EMAIL ID: [email protected]
CONTACT NO: 0422-4700813
LAL’S
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