Weekly Newsletter MCX 06/04/2015
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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
6-Apr-15
USD
Markit Composite PMI (Mar)
-
58.5
USD
Services PMI (Mar)
-
58.6
USD
ISM Non-Manufacturing PMI (Mar)
56.5
56.9
INR
Interest Rate Decision
7.50%
7.50%
USD
JOLTs Job Openings (Feb)
-
4.998M
8-Apr-15
USD
Crude Oil Inventories
-
4.766M
9-Apr-15
CAD
Building Permits (MoM) (Feb)
-
-12.90%
USD
Natural Gas Storage
-
-18B
USD
Export Price Index (MoM) (Mar)
-0.30%
-0.10%
USD
Import Price Index (MoM) (Mar)
-0.40%
0.40%
USD
Federal Budget Balance (Mar)
-43.0B
-192.0B
7-Apr-15
10-Apr-15
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MARKET WRAP Gold Weekly Hope you all enjoyed profit as per the weekly level below 26350 falls till 26156 small but sure & profitable. What Next??? Last week Gold traded with volatile mode and closed at 26597 above 21 & 55 Daily EMA which is at 26318 & 27473 respectively. On charts it looks bit uncertain followed by mixed data from US. Gold still traded below weekly ascending broadening wedge (Red dotted lines). In upcoming week Gold has immediate resistance at 26850 & immediate support at 26200.If Gold sustains above level of 26850 then it could bounce till 27000-27200 or else below 26200 it may test the levels of 26050.Close below 26050 will free fall till 25750-25480. Strength on upside is limited so have patience & trade with proper levels.
WEEKLY PIVOT COMMODITY GOLD
R3 27560
R2 R1 27110 26855
P 26505
S1 26245
S2 25900
S3 25640
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 level below 37500 its free fall till 37030. What next??? Last week silver closed at 37394 above 21 & 55 Daily EMA which is at 37151 & 37104 respectively. On charts look negative and traded below ascending broadening wedge (Red dotted lines). In upcoming week Silver has Resistance at 38200 & immediate support at 37000. If Silver sustain below 37000 then could test the levels of 36700-36300 on the other hand if it manage to sustain above 38200 could bounce till 38650-39100. Strength on upside is limited so have patience & trade with proper levels.
WEEKLY PIVOT COMMODITY
R3
SILVER
39200
R2
R1
38700 38050
P 37520
S1
S2
36850 36350
S3 35680
OUTLOOK Trend: - Bearish Strategy: - Sell on high
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Copper Weekly Hope you all enjoyed huge profit as per the weekly level below 382 and it falls like anything till 375. As it was clearly mentioned the expected change in trend. What next??? Last week Copper closed at 375.50 below 21 periods but above 55 periods of Daily EMA which is at 376.75 & 373.90 respectively. Close observation of last 15 days trading suggests for major down trend 61.8 % price retracement level is at 398.60 ( close to latest high 398.80) & 38.2 % price retracement level is at 373 which is immediate support level followed by stochastic and MACD. Below 373 it could test till 370-367-363 while Resistance at 381. If copper able to sustain above the level of 381 then it could test 385-389-393 major resistance faced at 404-405. Sell Copper on high at 387-386 for the expected targets of 370-365 stop loss above 395 on weekly closing basis.
WEEKLY PIVOT COMMODITY COPPER
R3 396
R2 R1 391.55 383.55
P 379
S1 371
S2 366.40
S3 358.40
OUTLOOK Trend: - Bearish Strategy: - Sell On High.
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Natural Gas Weekly Extreme tight range in NG with high volatility. What Next??? Last week Natural Gas closed at 169 below 21 Daily EMA & 55 Daily EMA which is at 171 & 178.40 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 169 close too strong support zones at 168. Last trading session was bit positive due to negative inventory -18B which form a “bullish engulfing� pattern which may change current trend. In next week will have to wait & watch for clear direction. Natural Gas has its immediate resistance zone at 170-171 while support at 164. Sustain below its support level of 164 it could test the levels of 162-160. Close below 160 will see free fall till 154-147 else above 174 it could bounce till 176-180.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 160-154 with SL placed above 183.
WEEKLY PIVOT COMMODITY NATURAL GAS
R3 180
R2 R1 175.50 172.10
P 167
S1 164
S2 159
S3 156
OUTLOOK Trend: - Bearish Strategy: - Sell On High
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