mcx market news and gold market updates
TRANSCRIPT
Daily Market Reflection 10th January 2018
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Market Outlook
Important Data
Market Updates
MCX Date Date % Chg08-1-18 09-1-18
GOLD 29272 29152 -0.37%SILVER 39078 38857 -0.48%COPPER 454.15 454.40 +0.12%CRUDE 3907 4007 +2.59%ALUMINIUM 137.85 136.90 -0.62%LEAD 165.35 162.45 -1.75%NICKEL 798.60 806.00 +0.98%ZINC 216.30 213.20 -1.30%NATURALGAS 179.40 182.80 +2.01%
COMEX Date 08-1-18
Date 09-1-18
% Chg
GOLD 1320.40 1312.40 -0.61%SILVER 17.144 16.990 -0.90%CRUDE 61.73 62.83 +1.80%COPPER 3.224 3.217 -0.22%$ INDEX 92.08 92.31 +0.25%USDINR 63.6025 63.8475 +0.39%
Gold price continues to fluctuate around 1321.49 level. Thisprotects the continuation of the recently suggested bullish trendscenario, waiting to breach the mentioned level to confirmrallying towards the previously recorded top at 1357.53 as a nextstation. Holding above 1299.20 is important to continue theexpected rise, as breaking it will push the price to visit 1281.17areas initially before any new attempt to rise. Crude oil pricebegins today's trading with clear positivity after leaning well onthe intraday bullish channel's support line, we are waiting formore rise in the upcoming sessions. Copper price still need thepositive momentum to keep the sideways fluctuation, toapproach from the initial support at 3.2000, trading range fortoday is between 3.2000 and 3.4400.Trading range for zincResistance 218 to Support 215.
Fundamental NewsGold prices fell on Tuesday, retreating further from last week’sthree-and-a-half month highs as the dollar strengthened againstthe euro and as investors continued to bet on further rate hikes bythe Federal Reserve this year.
Crude oil prices remained supported near multi-year highs onTuesday, still boosted by a decline in U.S. oil rigs and supply cutsby major oil producers. Oil prices were boosted after BakerHughes on Friday reported a decline by five to 742 in the numberof U.S. rigs in the week to January 5.
Time Currency
Event Forecast
Previous
7:00pm USD Import Prices m/m 0.4% 0.7%
8:30pm USDFinal WholesaleInventories m/m
0.7% 0.7%
9:00pm USDCrude Oil
Inventories-7.4M
11:31pm USD 10-y Bond Auction 2.38|2.4
OUR PREVIOUS CALLS UPDATEIntraday super star
Date Commodity Entry Exit P/L
9/01 GOLD - - -
MultibaggerDate Commodity Entry Exit P/L9/01 CRUDE 3910 3950 8000
Trifid specialDate Commodity Entry Exit P/L
8/01 NG 181.00 186.80
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COMDEX
Gold and Silver
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SILVER COMEX SILVER
GOLD
PIVOTS
S1 S2 R1 R2
MCX 29061 28955 29299 29367COMEX
1302 1295 1320 1330
COMEX GOLD
Gold showed sideways to bearish movement and foundthe major support level of 29061. Now if price sustainson lower level then it will test next support level of28955. On other side 29299 will be major resistancelevel.
PIVOTS S1 S2 R1 R2
MCX 38655 38515 39372 39627
COMEX 16.78 16.64 17.12 17.27
Silver showed sideways to bearish movement and foundthe major support level of 38655. Now if price sustainson lower level then it will test next support level of38515. On other side 39372 will be major resistancelevel.
Crude and Copper
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CRUDE COMEX CRUDE
COPPER COMEX COPPER
PIVOTS S1 S2 R1 R2
MCX 3927 3892 4032 4063
COMEX 61.78 61.32 62.72 63.07
Crude oil showed sideways to bullish movement andfound the major resistance level of 4032. Now if pricesustains on higher level then it will test next resistancelevel of 4063. On other side 3927 will be major supportlevel.
PIVOTS S1 S2 R1 R2
MCX 451.70 449.20 456.25 458.65
COMEX 3.1973 3.1658 3.2648 3.2883
Copper showed sideways to bearish movement andfound the major support level of 451.70. Now if pricesustains on lower level then it will test next supportlevel of 449.20. On other side 456.25 will be majorresistance level.
Other Commodities
Due to Summer Bank Holiday NO LME DATA TODAY
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PIVOTS
COMMODITIES
S1 S2 R1 R2 VOLUME OI TREND
ALUMINIUM 135.20 134.00 138.30 139.00 6771 2391 Bearish
LEAD 161.55 160.80 163.75 164.60 16634 2637 Bullish
NICKEL 782.60 773.70 812.80 825.60 44423 9755 Bullish
ZINC 212.00 211.60 215.45 217.15 32914 12364 Bullish
NATURAL GAS 177.40 174.80 186.80 190.50 98970 16724 Bearish
LME INVENTORY
COMMODITIES 03/01/2018 04/01/2018 05/01/2018 08/01/2018 09/01/2018
ALUMINIUM +425 -475 -1850 -3600 -3025
COPPER -425 -75 +3700 +0 -175
LEAD -150 +0 -115 +2075 +50
NICKEL -540 -138 -884 +3360 -1374
ZINC -150 -250 -250 0 -75
Agri Commodity Updates
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JEERA
SOYABEAN
PIVOTS S1 S2 R1 R2
21000 20600 21300 21600
PIVOTS S1 S2 R1 R2
3220 3170 3280 3330
Jeera showed sideways movement today and foundthe resistance level of 21300. If prices maintainabove 21300 levels in next trading session then thismomentum can take prices to 21600 levels. If itbreaks the support level of 21000 then 20600 willact as next support level.
Soyabean showed bullish movement and found theimportant resistance level of 3280. If prices sustainbelow 3220 level in next trading session then thisbearish momentum can take prices to 3170 level. Ifit breaks the resistance level of 3280 then 3330 willact as next resistance level.
PIVOTS S1 S2 R1 R2
4325 4270 4400 4500
Guarseed showed bullish movement and found theimportant resistance level of 4430. If prices sustainsbelow 4325 level in next trading session then thismomentum can take prices to 4270 level. If it breaksthe resistance level of 4440 then 4500 will act asnext resistance level.
GUARSEED
Intraday Super Star (Premium Section)
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CALL: SELL ALUMINIUM BELOW 136.50 TARGETS 135.50/134.50 SL 138.
Multibagger Call (Premium Section)
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CALL: SELL SILVER BELOW 38800 TARGETS 38500/38200 SL 39200.
Trifid Special(Premium Section)
SS
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CALL: BUY NATURAL GAS ABOVE 187.00 TARGETS 193.00/200.00 SL 178.00
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