SAI PROFICIENT RESEARCH MCX COMMODITY REPORT DATE- MARCH 30, 2016
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DAILY COMMODITY REPORT
MCX Crude Oil “CRUDE CRASHED” ENERGY OVERVIEW: In the euro zone, Germany is to release preliminary data on consumer inflation. Later in the day, the U.S. is to release the monthly ADP nonfarm payrolls report, while the U.S. Energy Information Administration is to release its weekly report on oil supplies. Crude oil for May delivery on the New York Mercantile Exchange declined 60 cents, or 1.52%, to trade at $38.79 a barrel by 10.21 GMT after ending the previous session down 7 cents at $39.39.
Date
Commodity
30-3-2016 CRUDE OIL
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Expiry
Open
High
Low
Close
April 19,2016
2619
2628
2588
2611
{DAILY COMMODITY REPORT (March 30, 2016)}
Resistance 2
Resistance 1
Pivot Point
Support 1
Support 2
2680
2641
2609
2575
2530
Recommendation: The above is hourly chart of Crude Oil. The above is hourly chart of Crude Oil. It suggests that prices are trading in sideways zone. On the downside, it has immediate support at 2540levels. On the upside, it has immediate resistance at 2690 levels. Trading Call: Buy around 2628 levels with a stop loss placed below 2585 levels for targets of 2646 levels.
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{DAILY COMMODITY REPORT (March 30, 2016)}
MCX Gold “Gold
bounced high and more likely to go higher�
Bullion Overview: In the euro zone, Germany is to release preliminary data on inflation. The U.S. is to publish the ADP report on private sector jobs creation. Gold for delivery in April fell Rs 72, or 0.25 percent, to Rs 28,386 per 10 grams, in a business turnover of 237 lots at the Multi Commodity Exchange. In a similar fashion, the metal for delivery in far-month June was trading down Rs 66, or 0.23 percent, to Rs 28,650 per 10 grams in 34 lots.
Date
Commodity
Expiry
Open
High
Low
30-3-2016
Gold
April 5, 2016
28389
28477
28341
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Close 28442
{DAILY COMMODITY REPORT (March 30, 2016)}
Resistance 2
Resistance 1
Pivot Point
Support 1
Support 2
28755
28565
28420
28310
28230
Recommendation: U.S. gold futures for June delivery edged down 0.11% to $1,220.7 an ounce. On Monday gold fell to a one-month trough of $1,207.83 before recovering to close higher at $1,221.46. Gold prices fell 0.4 percent to USD 1,217.49 an ounce in Singapore today. The above is hourly chart of Gold. It suggests that prices are prices are making lower highs and lows. In today's session it is expected to rebound toward 28665 levels. On another side, it has immediate support at 28270 levels. Trading Call: Buy around 28420 levels with a stop loss placed below 28310 levels for target of 28665 levels.
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{DAILY COMMODITY REPORT (March 30, 2016)}
COPPER “MCX COPPER CRASHED” Base Metal overview: In the euro zone, Germany is to release preliminary data on inflation. The U.S. is to publish the ADP report on private sector jobs creation.
Date
Commodity
Expiry
30-3-2016
Copper
29-4-2016
Open 331.50
High
Low
Close
331.50
327.35
330.05
Resistance 2
Resistance 1
Pivot Point
Support 1
Support 2
335.52
333.44
329
327.30
325.60
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{DAILY COMMODITY REPORT (March 30, 2016)}
Recommendation: However, prices are expected to trade in sideways zone in short term.. On the downside, immediate support is located at 327.30 and 324 levels. The above is hourly chart of Copper. It suggests that prices are making lower highs and lows. It is expected to remain in bearish range. On the upside immediate resistance is located at 333.90 levels.
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{DAILY COMMODITY REPORT (March 30, 2016)}
MCX SILVER In metals trading, U.S. silver futures for May delivery were down 0.46% to $15.12 an ounce
Date
Commodity
Expiry
Open
30-3-2016
SILVER
April 5, 2016 36518
High
Low
Close
36612
36241
36457
Resistance 2
Resistance 1
Pivot Point
Support 1
Support 2
36894
36809
36436
36285
36050
Recommendation: The above is hourly chart of Silver. It suggests that prices are trading in mixed to firm note. However, it is expected to take support near 36285 levels where cluster of supports coincides. Further it has support at 36050 levels. On the upside, it has immediate resistance at 36950 levels. Trading Call: Buy around 36510 levels with a stop loss placed below 36050 levels for targets of 369500 levels.
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{DAILY COMMODITY REPORT (March 30, 2016)}
DISCLAIMER The information contained here was gathered from sources deemed reliable however; no claim is made as to accuracy or content. This does not contain specific recommendations to buy or sell at particular prices or time, nor should any examples presented be deemed as such. There is a risk of loss in equity trading and you should carefully consider your financial position before making a trade. This is not, nor is it intended, to be a complete study of chart patterns or technical analysis and should not be deemed as such. SAI PROFICIENT INVESTMENT ADVISORS does not guarantee that such information is accurate or complete and it should not be relied upon as such. Any opinions expressed reflect judgments at this date and are subject to change without notice. For use at the sole discretion of the investor without any liability on Sai Proficient Investment Advisors.
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{DAILY COMMODITY REPORT (March 30, 2016)}