Weekly Newsletter MCX 13/04/2015
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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
13-Apr-15
USD
Federal Budget Balance (Mar)
-43.0B
-192.0B
14-Apr-15
USD
Core Retail Sales (MoM) (Mar)
0.60%
-0.10%
USD
PPI (MoM) (Mar)
0.20%
-0.50%
USD
Retail Sales (MoM) (Mar)
1.00%
-0.60%
USD
Business Inventories (MoM) (Feb)
0.20%
-
EUR
Interest Rate Decision (Apr)
-
0.05%
USD
Industrial Production (MoM) (Mar)
-0.30%
0.10%
CAD
Interest Rate Decision
1.00%
0.75%
USD
Crude Oil Inventories
-
10.949M
USD
Building Permits (Mar)
1.080M
1.102M
USD
Housing Starts (MoM) (Mar)
-
-17.00%
USD
Initial Jobless Claims
-
281K
USD
Philadelphia Fed Manufacturing Index (Apr)
6.3
5
USD
Philly Fed Employment (Apr)
-
3.5
USD
Natural Gas Storage
-
15B
EUR
CPI (YoY) (Mar)
-0.10%
-0.10%
USD
Core CPI (MoM) (Mar)
0.20%
0.20%
USD
Michigan Consumer Sentiment (Apr)
94
93
USD
Michigan Current Conditions (Apr)
105.2
105
15-Apr-15
16-Apr-15
17-Apr-15
Forecast Previous
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MARKET WRAP Gold Weekly Hope you all enjoyed profit as per the weekly level above 26850 rallies till 27095 small but sure & profitable. What Next??? Last week Gold traded with volatile mode and closed at 26781 above 21 & 55 Daily EMA which is at 26318 & 27473 respectively. On charts it once again looks bit uncertain followed by mixed data from US. Gold still traded below the psychological level of 27000. In upcoming week Gold has immediate resistance at 27050-27100 & immediate support at 26450.If Gold sustains above level of 27100 then it could bounce till 2720027350-27600 or else below 26450 it may test the levels of 26200-26050.Close below 26050 will free fall till 25750-25480. Any sharp rise could be good sell opportunity for positional trade. Strength on upside is limited so have patience & trade with proper levels.
WEEKLY PIVOT COMMODITY GOLD
R3 27730
R2 R1 27415 27100
P 26780
S1 26460
S2 26145
S3 25830
OUTLOOK Trend: - Consolidate Strategy: - Sell on high www.capitalheight.com capitalheight.wordpress.com
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Silver Weekly Hope you all enjoyed huge profit as per the weekly levels 900 points free fall from 37000 to 36085. What next??? Last week silver closed at 36713 below 21 & 55 Daily EMA which is at 37124 & 37109 respectively. On charts look negative and traded below ascending broadening wedge (Red dotted lines) and unable to sustain above long symmetrical triangle (Green dotted lines). In upcoming week Silver has Resistance at 37350 & immediate support at 36200-36000. If Silver sustain below 36000 then could test the levels of 35800-35500-35000 on the other hand if it manage to sustain above 3750 could bounce till 37600-37950. Any sharp rise could be good sell opportunity for positional trade. Strength on upside is limited so have patience & trade with proper levels.
WEEKLY PIVOT COMMODITY
R3
SILVER
40680
R2
R1
39635 38175
P 37125
S1
S2
35665 34625
S3 33165
OUTLOOK Trend: - Bearish Strategy: - Sell on high
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Copper Weekly Hope you all enjoyed huge profit as per the weekly call. We suggested selling it on rise at 387-386 for the expected targets of 370-365 stop loss above 395. Free fall like anything from 389 to 372. What next??? Last week Copper closed at 377 above 21 periods but & 55 periods of Daily EMA which is at 376.45 & 374.40 respectively. Close observation of last 21 days trading suggests for major down trend as it closed between trend 61.8 % price retracement level is at 398.60 ( close to 21days high 398.80) & 38.2 % price retracement level is at 373 which is crucial support level supported by MACD. Below 371 it could test till 367-363-357 while Resistance at 383. If copper able to sustain above the level of 383 then it could test 385-389-393 major resistance faced at 404-405. Sell Copper on high at 385-383 for the expected targets of 372-370 stop loss above 395 on weekly closing basis.
WEEKLY PIVOT COMMODITY COPPER
R3 406
R2 398
R1 P 387.50 379.50
S1 369
S2 361
S3 350
OUTLOOK Trend: - Bearish Strategy: - Sell On High.
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Natural Gas Weekly Hope you all enjoyed profit as per the weekly level below 164 rallies till 158. What Next??? Last week Natural Gas closed at 157.90 below 21 Daily EMA & 55 Daily EMA which is at 167.70 & 175.75 respectively. Foresight in NG would be more specific on its daily charts (as attached) as compared to weekly charts. On daily charts it traded below the symmetrical triangle and closed at 157.90 below strong support zones at 164 & chance of bright free fall is expected. Natural Gas has its immediate resistance zone at 163 and then towards 165-168 levels while support at 156. Sustain below its support level of 156 will see free fall till 150-145-138 or it could test resistance. Major resistance faced at 172. Strength on upside is limited so any sharp rise could be good sell opportunity for positional trade. Sell NG on rise at 165-168 for the expected target of 160-154 with SL placed above 172.
WEEKLY PIVOT COMMODITY NATURAL GAS
R3 179
R2 174.50
R1 166
P S1 S2 161.80 153.50 149.50
S3 141
OUTLOOK Trend: - Bearish Strategy: - Sell On High
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