Weekly Newsletter MCX 27/04/2015
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Weekly MCX News Letter Contents Upcoming events Market Wrap Gold Silver Copper Natural gas Technical Analysis Gold Silver Copper Natural gas
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UPCOMING EVENTS Date
Cur.
Event
Forecast
Previous
27-Apr-15
USD
Services PMI (Apr)
59.5
59.2
28-Apr-15
USD
S&P/CS HPI Composite - 20 n.s.a. (YoY) (Feb)
4.70%
4.60%
USD
CB Consumer Confidence (Apr)
102.5
101.3
USD
GDP (QoQ) (Q1)
1.00%
2.20%
USD
Pending Home Sales (MoM) (Mar)
1.20%
3.10%
USD
Crude Oil Inventories
-
5.315M
EUR
German Unemployment Change (Apr)
-15K
-15K
EUR
CPI (YoY) (Apr)
-0.10%
-0.10%
USD
Core PCE Price Index (MoM) (Mar)
0.20%
0.10%
USD
Employment Cost Index (QoQ) (Q1)
0.60%
0.60%
USD
Initial Jobless Claims
-
295K
USD
Personal Income (MoM) (Mar)
0.30%
0.40%
USD
Natural Gas Storage
-
90B
USD
Manufacturing PMI (Apr)
-
54.2
USD
ISM Manufacturing Employment (Apr)
51
50
USD
ISM Manufacturing PMI (Apr)
52
51.5
USD
Michigan Consumer Expectations (Apr)
88.1
88
USD
Michigan Consumer Sentiment (Apr)
-
-
29-Apr-15
30-Apr-15
1-May-15
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MARKET WRAP Gold Weekly Uncertain and volatile movement in gold. USD/INR played a key role. What Next??? Last week Gold traded with volatile mode and closed at 26701 above 21 & 55 Daily EMA which is at 26653 & 26592 respectively which represent a short term positive move. On daily charts Gold is sustained & closed above the Bollinger middle band with support at 26600-550 which could lead an uptrend to test the upper bands levels but as a price divergence clearly observed with MACD & stochastic which increases uncertainty. In upcoming week Gold has immediate resistance at 26980 & immediate support at 26550.If Gold sustains above level of 27000 then it could bounce till 27200-27450-27600 or else below 26550 it may test the levels of 26370-26150.Close below 26070 will free fall till 25750-25480. Either side breakout with volume will lead to market. Sustainability of levels is very important. So have patience & trade on proper levels with SL. Do have an eagle on USD/INR.
WEEKLY PIVOT COMMODITY GOLD
R3 27275
R2 R1 27120 26910
P 26760
S1 26540
S2 26390
S3 26180
OUTLOOK Trend: - Consolidate Strategy: - Sell on high www.capitalheight.com capitalheight.wordpress.com
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Silver Weekly Hope you enjoyed profit on sell on high strategy. What next??? Last week silver closed at 35950 below 21 & 55 Daily EMA which is at 36550 & 36840 respectively. On Daily charts look negative followed by MACD. Silver closed below a short term symmetrical triangle (red dotted lines) with the support at 35800.If it brake the support zone and sustains below 35750 then could test the levels of 35350-35000.Further if it sustain below 34800 it will confirm the breakout of long symmetrical triangle (green dotted lines) and could expected a free fall towards 34300-33500-31900-30300. On the other hand if it manages to sustain above Resistance of 36350 could bounce till 36750-37200-37500. Any sharp rise could be good sell opportunity for positional trade. Strength on upside is limited so have patience & trade on proper levels with SL.
WEEKLY PIVOT COMMODITY
R3
SILVER
37810
R2
R1
37300 36650
P 36110
S1
S2
35430 34920
S3 34240
OUTLOOK Trend: - Bearish Strategy: - Sell on high
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Copper Weekly Hope you enjoyed profit below the support level of 378 till 371. What next??? Last week Copper closed at 385.10 above 21 period & 55 periods of Daily EMA which is at 377.75 & 375.55 respectively which suggest a positive move. In last two week copper sustained above the Bollinger middle band and may lead towards upper band levels followed by the MACD. In next week copper has Resistance at 387 and Support at 368. If copper able to sustain above the level of 387 then it could test 390-393-398 major resistance faced at 404-405 on the other hand if sustain below its support 368 then could test the levels of 363-358 and more. USD/INR will play a key role to lead the market. Have patience & trade on proper levels with SL.
WEEKLY PIVOT COMMODITY COPPER
R3 409
R2 398
R1 391.60
P 381
S1 S2 374.40 363.75
S3 357.25
OUTLOOK Trend: - Consolidate. Strategy: - Sell On High.
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Natural Gas Weekly Extreme tight range movement but profitable as per the weekly support below 163. What Next??? Last week Natural Gas closed at 161.30 below 21 Daily EMA & 55 Daily EMA which is at 164.20 & 171.50 respectively. On daily charts it traded below the symmetrical triangle (red dotted lines) and closed at 161.30 Natural Gas also forming the ascending triangle (green dotted lines whose breakout must be on next trading session else it is useless as it is close to apex) below to symmetrical triangle (red dotted lines) which may lead a selling pressure. NG has immediate resistance at 167 while support at 159.Sustain below its support level of 159 will see free fall till 155145-138 or it could test resistance 168 followed by 170-175. Strength on upside is limited so any sharp rise could be good sell opportunity for positional trade. Sell NG on rise at 169-168 for the expected target of 160-155 with SL placed above 175
WEEKLY PIVOT COMMODITY R3 R2 R1 P S1 S2 NATURAL GAS 170.50 167.85 164.60 160.60 158.80 156.40
S3 153
OUTLOOK Trend: - Bearish Strategy: - Sell On High
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