Weekly Newsletter MCX 30/03/2015
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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 30-Mar
31-Mar
1-Apr
2-Apr
3-Apr
Cur.
Event
Forecast
Previous
USD
Core PCE Price Index (MoM) (Feb)
0.10%
0.10%
USD
Personal Spending (MoM) (Feb)
0.20%
-0.20%
USD
Pending Home Sales (MoM) (Feb)
0.40%
1.70%
EUR
-12K
-20K
EUR
German Unemployment Change (Mar) CPI (YoY) (Mar)
-0.10%
-0.30%
EUR
Unemployment Rate (Feb)
11.20%
11.20%
USD
CB Consumer Confidence (Mar)
96
96.4
EUR
Spanish Manufacturing PMI (Mar)
54.7
54.2
EUR
Italian Manufacturing PMI (Mar)
52.2
51.9
EUR
French Manufacturing PMI (Mar)
48.2
48.2
EUR
German Manufacturing PMI (Mar)
52.4
52.4
EUR
Manufacturing PMI (Mar)
51.9
51.9
USD
225K
212K
USD
ADP Nonfarm Employment Change (Mar) ISM Manufacturing PMI (Mar)
52.5
52.9
USD
Crude Oil Inventories
-
8.170M
USD
Initial Jobless Claims
-
282K
USD
Trade Balance (Feb)
-41.20B
-41.80B
USD
Factory Orders (MoM) (Feb)
-0.40%
-0.20%
USD
Natural Gas Storage
-
12B
USD
Nonfarm Payrolls (Mar)
244K
295K
USD
Private Nonfarm Payrolls (Mar)
235K
288K
USD
Unemployment Rate (Mar)
5.50%
5.50%
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MARKET WRAP Gold Weekly Hope you all enjoyed huge profit as per the weekly level above 26350 rallies till 26988. What Next??? Last week Gold traded with positive mode and closed at 26569 above 21 & 55 Daily EMA which is at 26250 & 27477 respectively. On charts it looks positive but still traded below weekly ascending broadening wedge (Red dotted lines). In upcoming week Gold has immediate resistance at 26985 & immediate support at 26350.If Gold sustains above level of 27000 then it could bounce till 27365-27680 or else below 26350 it may test the levels of 26200-26050.Close below 26050 will free fall till 25700-25480. Strength on upside is limited so have patience & trade with proper levels.
WEEKLY PIVOT COMMODITY GOLD
R3 27920
R2 R1 27455 27015
P 26545
S1 26100
S2 26635
S3 25195
OUTLOOK Trend: - Short term positive Strategy: - Buy on Dips
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Silver Weekly Hope you all enjoyed huge profit as per the weekly level above 37900 and rally till 39090. As suggested fresh buying above 39100 is still unbroken just made a high of 39090. What next??? Last week silver closed at 38395 above 21 & 55 Daily EMA which is at 37000 & 37037 respectively. On charts look positive but still traded below weekly ascending broadening wedge (Red dotted lines). In upcoming week Silver has Resistance at 39100-39380 & immediate support at 37500. If Silver sustain below 37500 then could test the levels of 37100-36700-36300 on the other hand if it manage to sustain above 39400 could bounce till 39900-40500. Strength on upside is limited so have patience & trade with proper levels.
WEEKLY PIVOT COMMODITY
R3
SILVER
40970
R2
R1
40030 39215
P 38275
S1
S2
37455 36515
S3 35695
OUTLOOK Trend: - Short term positive Strategy: - Buy on Dips
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Copper Weekly Hope you all enjoyed huge profit as per the weekly level above 385 and it rallied like anything till 398.80. What next??? Last week Copper closed at 384.85 above 21 & 55 Daily EMA which is at 375.65 & 373 respectively. Close observation of last weekly trading suggests a possible change in current trend as it formed a “DOJI� in weekly charts while on daily charts in last two trading sessions a shooting star & a bearish candle on very next day (chart attached) which is a bearish trend reversal supported by stochastic. For coming trading session Copper looks choppy and has Resistance at 399 & immediate support at 381. If copper able to sustain above the level of 399 then it could test 402-404 major resistance faced at 404-405 Where as closing below 381 could see sharp correction till 376-368-362. Sell Copper on high at 394-392 for the expected targets of 380-375 stop loss above 405 on weekly closing basis.
WEEKLY PIVOT COMMODITY COPPER
R3 412
R2 405.50
R1 395
P S1 388.50 377.50
S2 371
S3 360.50
OUTLOOK Trend: - Choppy Strategy: - Sell On High.
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Natural Gas Weekly Last week Natural Gas closed at 166.60 below 21 Daily EMA & 55 Daily EMA which is at 172.90 & 180 respectively. Foresight in NG would be more specific on its daily charts (as attached) as compared to weekly charts. On daily charts it has broken symmetrical triangle and closed below strong support zone at 168 and signals for possible upcoming bearishness supported by MACD. In next week Natural Gas has its immediate resistance zone at 174-176 while support at 165. Sustain below its support level of 165 it could test the levels of 162-159-153 else above 176 it could bounce till 182.Strength on upside is limited so any sharp rise could be good selling opportunity. Sell NG on rise at 175-174 for the expected target of 160-153 with SL placed above 185.
WEEKLY PIVOT COMMODITY NATURAL GAS
R4 183
R3 179.50
R2 173
R1 169.50
P 163
S1 159.50
S2 153
OUTLOOK Trend: - Bearish Strategy: - Sell On High
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