Weekly Newsletter MCX 18/05/2015
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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
Cur.
Event
Forecast
Previous
Tuesday, May 19, 2015
EUR
CPI (YoY) (Apr)
0.00%
0.00%
EUR
CPI (YoY) (Apr)
0.00%
0.00%
USD
Building Permits (Apr)
1.065M
1.042M
USD
Building Permits (MoM) (Apr)
-
-5.40%
USD
Housing Starts (MoM) (Apr)
-
2.00%
USD
Chicago Fed President Evans Speaks
-
-
USD
Crude Oil Inventories
-
-2.191M
USD
FOMC Meeting Minutes
-
-
EUR
German Manufacturing PMI (May)
52.3
52.1
USD
Initial Jobless Claims
-
264K
USD
Existing Home Sales (Apr)
5.24M
5.19M
USD
Existing Home Sales (MoM) (Apr)
1.00%
6.10%
USD
Philadelphia Fed Manufacturing Index (May)
8.2
7.5
USD
Philly Fed Employment (May)
-
11.5
USD
Natural Gas Storage
-
111B
EUR
German GDP (QoQ) (Q1)
0.30%
0.30%
EUR
German Manufacturing PMI (May)
-
52.1
EUR
German Ifo Business Climate Index (May)
108.3
108
USD
Core CPI (MoM) (Apr)
0.20%
0.20%
USD
Core CPI (YoY) (Apr)
1.70%
1.80%
USD
Manufacturing PMI (May)
54.5
54.1
Wednesday, May 20, 2015
Thursday, May 21, 2015
Friday, May 22, 2015
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MARKET WRAP Gold Weekly WOW‌.!!! Hope u booked huge profit above the weekly resistance 26200 and almost touched 3rd resistance 27600. Just made a low of 26778 and our suggested support at 26700. What Next??? Last week Gold closed at 27463 above 21 & 55 Daily EMA which is at 26980 & 26794 respectively which represent positive mood. In upcoming week Gold has immediate resistance at 27650 & immediate support at 27200.If Gold sustains above level of 27650 then it could bounce till 27800-27900.Two close above 27900 will lead sharp fire towards 28200-28500 or else below 27200 it may test the levels of 27050.Close below 27000 will free fall till 26850 and more. Sustainability of levels is very important**. So have patience & trade on proper levels with SL.
WEEKLY PIVOT COMMODITY GOLD
R3 28600
R2 R1 28100 27780
P 27275
S1 26960
S2 26460
S3 26145
OUTLOOK Trend: - Bullish. Strategy: - Buy on Dips.
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Silver Weekly WOW‌.!!! 1200 points‌ Locked profit ??? Did not break the recommended support or 37500 & above weekly resistance 38650 fire till above 40000. What next??? Last week silver closed at 39951 above 21 & 55 Daily EMA which is at 37402 & 37348 respectively. On charts look positive supported by MACD. In upcoming week silver has support at 39100 and Resistance at 40250.Sustain below 39100 it could expected fall towards 38650-38400 and more. On the other hand if it manages to sustain above Resistance of 40250 could bounce till 40600. Major Resistance faced at 40600 two daily close above that will may fire 4100041700. Sustainability of levels is crucial**. Have patience & trade on proper levels with SL.
WEEKLY PIVOT COMMODITY
R3
SILVER
43500
R2
R1
41810 40880
P 39200
S1
S2
38270 36590
S3 35660
OUTLOOK Trend: - Bullish. Strategy: - Buy on Dips.
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Copper Weekly Worthy risk‌!!! Hope you booked profit as per weekly call as we suggested Risky traders may sell copper on rise at 422-421 for expected tgts of 411 with proper SL above 431. What next??? Last week Copper closed at 412.10 above 21 period & 55 periods of Daily EMA which is at 400.35 & 390 respectively which suggest a positive move. Charts represent a strong bullish move followed by the MACD. It closes far-far away from 61.8% of retracement level of past bearish trend which is at 399. Our expectation increases to retrace up to 100% 440 in coming weeks. In next week copper has Resistance at 418-421 and Support at 409. If copper able to sustain above the level of 421 then it could test 425-428-435 on the other hand if sustain below its support 409 then could test the levels of 405-399. Major support below 397.Sustainability of levels is crucial**. Have patience & trade on proper levels with SL.
WEEKLY PIVOT COMMODITY COPPER
R3 R2 R1 431.50 426.50 419.50
P 414
S1 407
S2 402
S3 395
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 ( JUNE) closed at 3858 above 21 Daily EMA & 55 Daily EMA which is at 3827 & 3557 respectively which reflects the strong positive run. 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 4100 while support at 3780. Sustain above its resistance could test the levels of 4180-4270 while trade below its support may test 36953500 levels. Sustainability of levels is crucial**. Have patience & trade on proper levels with SL.
WEEKLY PIVOT COMMODITY CRUDE OIL
R3 4245
R2 4145
R1 4000
P 3995
S1 3455
S2 3655
S3 3510
OUTLOOK Trend: -Consolidate. Strategy: - Sell On High.
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