12th july 2021 - skybroking.com

1 Commodity Weekly Report

12th July 2021

3

Fundamental News: Gold was already starting to see central bank

demand improve and if ETF demand turns positive again; bullion

bulls could become more aggressive with their bets.

Technical Outlook: Gold may expect high volatility trade any drop

seen to utilize a buying opportunity. So, Buy above 48020 with

TGT 48218 & 48464 and maintain SL 47821 or else Short below

47622 with TGT 47424 & 47178 and keep SL 47821.

Weekly Commodity Report

30th-DEC-2019

Commodity Weekly Report

R1 48218 R2 48464 R3 48861

S1 47424 S2 47178 S3 46781

MCX GOLD Daily Chart

GOLD Commentary

Weekly View

Medium term View

MCX SILVER Daily Chart SILVER Commentary

Fundamental News: Precious Metals on Friday was fueled by a

weaker dollar. Both the U.S. currency and yields work in contrary

mode to the precious metal.

Technical Outlook: Silver may expect a high volatility trade and

any drop seen to utilize a buying opportunity. Go long above

70025 with TGT of 70529 & 71127 and maintain SL of 69561 or

else Sell near 69076 with TGT 68592 & 67994 and keep SL of

69561 level.

Weekly View

Medium term View

R1 70529 R2 71127 R3 72096

S1 68592 S2 67994 S3 67026

Strategy Corner: Buy MCXBULLDEX above 14788 TGT 14830 / 14881 SL 14746

Sell MCXBULLDEX below 14704 TGT 14662 / 14611 SL 14746

5

Fundamental News: Crude oil prices climbed higher Friday,

helped by signs of strong demand in the world’s largest consumer

even amid concerns about the spread of the delta variant of the

Covid-19 virus.

Technical Outlook: Until crude oil break above 5733 may expect it

drop up to 5271 levels. Go long above 5611 With TGT of 5695 &

5799 and keep Sl of 5527 or else short below 5443 with TGT of

5359 & 5255 and keep stop loss of 5527.


21st-May-2018


R1 5695 R2 5799 R3 5967

S1 5359 S2 5255 S3 5087

MCX CRUDE OIL Daily Chart CRUDE OIL Commentary

Weekly View

Medium term View

MCX NATURAL GAS Daily Chart NATURAL GAS Commentary

Fundamental News: The share of gas-on-gas pricing in the global

market rose by one percentage point in 2020 to reach 49.3%,

according to the latest pricing survey by the International Gas

Union published July 8.

Technical Outlook:

Natural gas may expect a momentum trade. Go long above 278

with TGT of 281.7 & 286.2 and keep stop loss of 274.3 Or else go

short below 270.6 with TGT of 266.9 & 262.4 and Keep SL of

274.3 level.

Weekly View

Medium term View

R1 281.7 R2 286.2 R3 293.6

S1 266.9 S2 262.4 S3 255


30th-DEC-2019

6

Fundamental News: Global demand of Base metals prices upbeat

after PBOC RRR cut.

Technical Outlook: Copper may expect a profit booking until close

above 742 levels. So, go long above 734.9 with TGT of 739.7 &

745.6 and maintain Stop loss of 730.1 or else go short below

725.35 with TGT 720.55 & 714.65 and keep sl of 730.1 level.


21st-May-2018


R1 739.7 R2 745.6 R3 755.15

S1 720.55 S2 714.65 S3 705.1

MCX COPPER Daily Chart

COPPER Commentary

Weekly View

Medium term View

MCX ALUMINIUM Daily Chart ALUMINIUM Commentary

Fundamental News: Aluminium stocks continue to fall.

Technical Outlook: Aluminum may expect a profit booking rally

until close above 200 ranges. So, go long above 199.85 with TGT

of 201.3 & 203.1 keep SL of 198.4 & Go short below 196.95 with

TGT 195.5 & 193.7 and keep Sl of 198.4.

Weekly View

Medium term View

R1 201.3 R2 203.1 R3 206

S1 195.5 S2 193.7 S3 190.8


30th-DEC-2019

Strategy Corner: Buy MCXMETLDEX above 15325 TGT 15404 / 15502 SL 15245

Sell MCXMETLDEX below 15166 TGT 15086 / 14988 SL 15245

7

Fundamental News: The supply of lead concentrate and lead-acid

battery scrap remained tight, and TCs continued to drop in July.

Cost support of lead prices kept rising. Spot market was

dominated by the wait-and-see mood amid sluggish trade, as

downstream users were reluctant to purchase at high prices.

Technical Outlook: Lead may expect a mixed trade. So, go long

above 180.35 with TGT of 181.15 & 182.15 and maintain Stop

loss of 179.6 or else go short below 178.8 with TGT 178 & 177

and keep sl of 179.6 level.


21st-May-2018


MCX LEAD Daily Chart

LEAD Commentary

Weekly View

Medium term View

MCX ZINC Daily Chart ZINC Commentary

Fundamental News: China's manufacturing industry PMI in June

was higher than expected, indicating that the manufacturing

industry was expanding.

Technical Outlook: Zinc may expect a profit booking higher levels.

So, go long above 242.15 with TGT of 243.55 & 245.25 and sl of

240.75 or else go short below 239.35 with TGT 237.95 & 236.25

and sl of 240.75 level.

Weekly View

Medium term View

R1 181.15 R2 182.15 R3 183.75

S1 178 S2 177 S3 175.4

R1 243.55 R2 245.25 R3 248.05

S1 237.95 S2 236.25 S3 233.45

MCX NICKEL Daily Chart NICKEL Commentary

Fundamental News: Improving prospects for stainless steel and

nickel markets, nickel hits 4-month high.

Technical Outlook: Nickel may expect a positive rally up to 1418.2

ranges from there profit booking expected up to 1265 levels by

positionally. So, go short below 1375 with TGT of 1364.2 &

1350.9 and sl of 1385.7

Weekly View

Medium term View

R1 1407 R2 1420.5 R3 1442

S1 1364.2 S2 1350.9 S3 1329.4


30th-DEC-2019


WEEKLY MCX COMMODITY CHANGE

ECONOMIC CALENDER


21st-May-2018

Source : Forex Factory


30th-DEC-2019

Indices Close Change %

GOLD 47923.00 638 1.35

SILVER 69297.00 -891 -1.27

CRUDE OIL 5554.00 -91 -1.61

NATURAL GAS 275.80 -1.7 -0.61

COPPER 731.75 9.6 1.33

ALUMINIUM 198.00 -2.5 -1.25

LEAD 179.85 -0.6 -0.33

ZINC 242.40 4.45 1.87

NICKEL 1404.30 32.1 2.34

MCXBULLDEX 14745.00 80 0.55

MCXMETLDEX 15358.00 231 1.53


ECONOMIC CALENDER


21st-May-2018



30th-DEC-2019



21st-May-2018

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RESEARCH DEPT

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EMAIL ID: [email protected]

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30th-DEC-2019

12th july 2021 - skybroking.com

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