Weekly Free Commodity, MCX Tips

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29 JUNE 03 JULY 2015 \ W E E K L Y R E P O R T Blow by Blow On Bullions, Base metals, Energy… WWW.TRIFIDRESEARCH.COM

Transcript of Weekly Free Commodity, MCX Tips

29 JUNE – 03 JULY 2015

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W E E K L Y

R

E

P

O

R

T

Blow by Blow

On

Bullions,

Base metals,

Energy…

WWW.TRIFIDRESEARCH.COM

MAJOR EVENTS MCX Gold futures are trading in a nervous manner ahead of weekend. Global markets

are teetering amid a heavy sell off in Asian stocks as traders remain skeptical about

the Greece debt fiasco. The yellow metal has been tamed this week after crashing

under $1200per ounce as strength in dollar and tepid retail buying in India hurt

sentiments. The counter is quoting at $1174 per ounce right now, up 0.19% on the

day. MCX Gold futures are trading at Rs 26488 per 10 grams, almost unchanged on

the day. MCX Silver futures are trading at Rs 35980 per kg, down 0.35% on the day.

Greece’s talks with its creditors are still the talking point for the globalmarkets.

European leaders have put off until the weekend talks to seal a bailout dealafter

cutting short talks yesterday to give negotiators more time to settle differences.This is

weighing on the sentiments and world equities are a facing a heavy sell off.Stocks in

China were hurt severely today, crashing around 7.5% on the day. Stocks inEurope are

also in red and the US dollar is holding around 1.1200 mark against the

Euro.Meanwhile, RBI Governor Raghuram Rajan has asked central banks from across

the world todefine new rules of the game as he warned that the global economy may

be slipping intoproblems similar to the Great Depression of the 1930s.

Crude oil may move in range amid mixed fundamentals as EIA inventory data today

will give further direction to the prices. Overall it can move in range of 3800-3900 in

MCX, as per SMC Global report. MCX Crude Oil June contract was trading up by 0.21

per cent to 3857 levels on Wednesday(11.57am).U.S. crude prices rose on Tuesday as

a tropical storm moved ashore in the oil-producing state of Texas, but global

oversupply limited gains and pressured Brent futures. Gasoline stocks are expected to

be down 300,000 barrels.

A crude oil drop would be a seventh consecutive draw recorded by the government,

with the next Energy Information Administration report due on Wednesday at 10:30

a.m. EDT. Tropical Storm Bill went ashore on the Texas Gulf Coast and is expected to

bring heavy rains and strong winds. Last year, active oil rigs were at 1,536. This means

the current oil rigs are 59% lower than the levels last year. OPEC's (Organization of

the Petroleum Exporting Countries) largest crude oil producer is Saudi Arabia. It

continued to produce more than 10 MMbpd (million barrels per day) in May 2015.

MCX Crude Oil

may move in

range amid mixed

fundamentals.

Copper Supported,

US Consumer

Spending Records

Largest Increase in

Six Years.

US consumer spending recorded its largest increase in nearly six years in May, further

evidence that economic growth was accelerating in the second quarter. Three-month

copper on the LME closed up 0.5 per cent at $5770 a tonne, recovering from a low of

$5692. Prices have been on a downtrend since mid-May, hitting a three-month low on

Monday, mostly on worries over lackluster Chinese demand and a summer slowdown.

Meanwhile, in COMEX, Copper prices July expiry contract was trading at $ 2.62 per

pound, up 0.03 pounds. Antofagasta on the other hand announced establishing a

project committee. Antofagasta plc announced that the Board has established a

Projects Committee and has changed the composition of the Audit and Risk

Committee. Antofagasta is committed to growing its copper mining business in Chile

and beyond, in a sustainable and responsible manner that ensures it retains its social

licence to operate.

The new Projects Committee adds an important level of governance and responsibility

for all the Company's projects under development, and will play a vital role in

providing the Board with additional oversight of Antofagasta's projects portfolio,

proposals, milestones and key indicators and is in line with the approach to projects

that the Company is implementing.

Gold Cautious

Ahead Of

Weekend, Silver

Stalls Under 36K.

E C O N O M I C C A L E N D E R

DATE & TIME DESCRIPTION FORECAST PREVIOUS

June 29 7:30pm Pending Home Sales m/m 1.3% 3.4%

June 30 6:30pm S&P/CS Composite-20 HPI y/y 5.3% 5.0%

7:15pm Chicago PMI 50.2 46.2

7:30pm CB Consumer Confidence 97.1 95.4

July 01 5:00pm Challenger Job Cuts y/y -22.5%

5:45pm ADP Non-Farm Employment Change 216K 201K

7:15pm Final Manufacturing PMI 53.4 53.4

7:30pm ISM Manufacturing PMI 53.2 52.8

7:30pm Construction Spending m/m 0.6% 2.2%

7:30pm ISM Manufacturing Prices 52.1 49.5

8:00pm Crude Oil Inventories -4.9M

All Day Total Vehicle Sales 17.2M 17.8M

July 02 6:00pm Non-Farm Employment Change 231K 280K

6:00pm Unemployment Rate 5.4% 5.5%

6:00pm Average Hourly Earnings m/m 0.2% 0.3%

6:00pm Unemployment Claims 270K 271K

7:30pm Factory Orders m/m -0.5% -0.4%

8:00pm Natural Gas Storage 75B

S1 S2 S3 R1 R2 R3

26385 26135 25900 26740 27025 27325

S1 S2 S3 R1 R2 R3

35400 34525 33490 36450 37500 38550

T E C H N I C A L V I E W

MCX GOLD showed downward

movement, and broke the trendline on

lower side and found the crucial

support of 26400. Now, if it is able to

sustain below 26350 then next major

support level is seen in the range of

26000-25500. On other hand if some

correction happen then 26800 will act

as important resistance level,

maintaining above pull it towards the

next resistance level of 27250.

S T R A T E G Y Better strategy in MCX GOLD is to sell

below 26350 for the targets of 26000-

25800 with stop loss of 26850.

PIVOT TABLE

G O L D

PIVOT TABLE

S I L V E R

T E C H N I C A L V I E W

MCX SILVER on daily charts showed

bearish movement and broke the

important support of 35500 but not

able to closed below it. Now, if it

sustain below 35400 then next support

range may seen at 34900-33500. On

higher side maintaing above 37500 will

again pull it towards the resistance

level of 38500.

S T R A T E G Y Better strategy in MCX SILVER at this

point of time is to sell below 35400 for

the targets of 34400-33500, with stop

loss of 37500.

C R U D E O I L

C O P P E R

S1 S2 S3 R1 R2 R3

3715 3570 3425 3880 4000 4215

S1 S2 S3 R1 R2 R3

365.35 357.30 348 375.50 384.20 394

T E C H N I C A L V I E W

MCX Copper last week showed

sideways to bullish movement and

showed some correction on higher

side after took the important support

of 357 last week. Now, if it maintain

above 377 on higher side then next

important resistance level is seen

around 391. On the other hand if

bearishness continue and sustain

below 364 then again 357 will act as

major support level.

S T R A T E G Y Better strategy in MCX CRUDEOIL is to

sell below 3750 for the targets of 3625-

3500, with stop loss of 4000.

PIVOT TABLE

T E C H N I C A L V I E W

MCX Crude oil last week showed

sideways movement some strength on

higher side seen but found resistance

around 4000 and again drag to its

support level of 3750. Now, if it

maintains above 4000 in coming

sessions then next important

resistance level is seen around 4200.

On the other hand sustaining below

3750 will again drag it towards support

level of 3625.

S T R A T E G Y Better strategy in MCX COPPER is to sell

below 364, with stop loss of 376 for the

target of 354.

PIVOT TABLE

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