Weekly Newsletter MCX 25/05/2015
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Weekly MCX News Letter Contents Upcoming events Market Wrap Gold Silver Copper Crude Oil Technical Analysis Gold Silver Copper Crude Oil
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UPCOMING EVENTS Date
Event
Forecast
Previous
USD
Core Durable Goods Orders (MoM) (Apr)
0.40%
0.30%
USD
S&P/CS HPI Composite - 20 n.s.a. (YoY) (Mar)
4.60%
5.00%
USD
Services PMI (May)
57
57.4
USD
CB Consumer Confidence (May)
95
95.2
USD
New Home Sales (Apr)
510K
481K
Wednesday, May 27, 2015
USD
Services PMI (May)
57
57.4
Thursday, May 28, 2015
USD
Initial Jobless Claims
-
274K
USD
Pending Home Sales (MoM) (Apr)
1.00%
1.10%
USD
Natural Gas Storage
-
92B
USD
Crude Oil Inventories
-
-2.674M
INR
GDP Quarterly (YoY) (Q4)
-
7.50%
USD
GDP (QoQ) (Q1)
-0.80%
0.20%
USD
GDP Price Index (QoQ) (Q1)
-0.10%
-0.10%
USD
Chicago PMI (May)
53
52.3
USD
Michigan Consumer Expectations (May)
83.1
81.5
USD
Michigan Consumer Sentiment (May)
89.9
88.6
Tuesday, May 26, 2015
Friday, May 29, 2015
Cur.
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MARKET WRAP Gold Weekly Hope u booked profit below the weekly support 27200 till 27053. Unable to sustain above the weekly resistance of 27650 and slipped below weekly support and made a low of 27053, our suggested second support at 27050. What Next??? Last week Gold closed at 27082 below 21 but above 55 Daily EMA which is at 27153 & 26986 respectively which represent uncertainty. Last week gold made low of 27053 and had a crucial range of 27050-27000. In upcoming week Gold has immediate resistance at 27400 & immediate support at 27050.If Gold sustains above level of 27400 then it could bounce till 27500-27700.Two close above 27900 will lead sharp fire towards 28200-28500 or else it test the level of 27000. Close below 27000 will free fall till 26850-26700-26500 and more. Sustainability of levels is very important**. So have patience & trade on proper levels with SL.
WEEKLY PIVOT COMMODITY GOLD
R3 28125
R2 R1 27905 27495
P 27270
S1 26860
S2 26640
S3 26225
OUTLOOK Trend: - Consolidate Strategy: - Neutral. www.capitalheight.com capitalheight.wordpress.com
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Silver Weekly Dual Node Trade‌!!! Week opening at highs and then spilled towards support. What next??? Last week silver closed at 38928 above 21 & 55 Daily EMA which is at 38706 & 37617 respectively. On charts look uncertain. Price divergences with daily RSI can be observed hence suggest being cautious. In upcoming week silver has immediate support at 38800 and Resistance at 39800.Sustain below 38800 it could expected fall towards 38300-38200-37550-37000. On the other hand if it manages to sustain above Resistance of 39800 could bounce till 40600. Major Resistance faced at 40600 two daily close above that will may fire 41000-41700. Sustainability of levels is crucial**. Have patience & trade on proper levels with SL.
WEEKLY PIVOT COMMODITY
R3
SILVER
41880
R2
R1
41230 40080
P 39425
S1
S2
38270 37620
S3 36475
OUTLOOK Trend: - Consolidate. Strategy: - Neutral.
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Copper Weekly Hope you booked profit below the weekly support of 409 till 397.Trade on levels anything more. What next??? Last week Copper closed at 396.50 above 21 periods but below 55 periods of Daily EMA which is at 410.80 & 397.60 respectively which suggest uncertainty. Charts represent a strong correction phase in last bullish move followed by the MACD & RSI. In next week copper has Resistance at 406409 and Support at 393.50. If copper able to sustain above the level of 409 then it could test 415-418 on the other hand if sustain below its support 393.50 then could test the levels of 389-382. Major support below 389.Any sharp rise could be good for positional trade. Sustainability of levels is crucial**. Sell copper on rise at 406-405 for the expected tgts of 395-389 with stop loss placed above 414.
WEEKLY PIVOT COMMODITY COPPER
R3 430
R2 R1 422.50 409.50
P 402
S1 389
S2 381
S3 367
OUTLOOK Trend: -Consolidate. Strategy: - Sell On Highs.
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Crude Oil Weekly Last week crude traded choppy and appears remains same in coming week. What Next??? Last week Crude Oil closed at 3818 above 21 Daily EMA & 55 Daily EMA which is at 3811 & 3696 respectively. On Daily charts look bit uncertain & expected remains choppy. A strong price divergence can be observed with MACD & RSI against the current up trend. Price divergence may lead change in current buying rally. Crude Oil has immediate resistance at 3900 while support at 3700. Sustain above its resistance could test the levels of 3980-4080 while trade below its support may test 3620-3570-3500 levels. Sustainability of levels is crucial**. Have patience & trade on proper levels with SL.
WEEKLY PIVOT COMMODITY CRUDE OIL
R3 4060
R2 3975
R1 3895
P 3810
S1 3725
S2 3640
S3 3560
OUTLOOK Trend: -Consolidate. Strategy: - Sell On High.
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