Daily Market Reflection 22nd June 2016 Market Outlook
For
In the morning session gold and silver trading in negative zone and continue in the evening session. In coming session bearishness can be seen in bullions as correction on lower side. Crude oil showed correction on higher side and buy on dips would be preferable. Base metals were strong and coming session more bullishness may be seen, buy on dips would be profitable strategy in base metals.
Gold was down for a second session on Tuesday as Asian shares Fundamental Factors extended a rally on growing expectations that Britain would opt to remain in the European Union in a referendum later this week. Oil prices fell on Tuesday, as investors weighed continued uncertainty ahead of the U.K.’s referendum this week and focused on the persistent overhang of crude. Base metals other than aluminium were tracking lower on the LME on Tuesday morning – the previous day’s increases proved shortlived and sentiment has turned more risk-off. Important Data Currency
Event
6:00pm
CAD
Core Retail Sales m/m
6:00pm
CAD
Retail Sales m/m
6:30pm 7:30pm
USD
8:00pm
Forecast Previous
-0.3% -1.0% 0.6%
USD
HPI m/m Fed Chair Yellen Testifies
USD
Existing Home Sales
5.53M
USD
Crude Oil Inventories
7:30pm
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COMDEX
Market Updates
Fundamental News
Time
our
0.7%
MCX
Date 20-06-16 30695 41795 3375
GOLD SILVER CRUDE
Date 21-06-16 30296 41355 3353
% Chg -1.30% -1.05% -0.65%
COPPER ALUMINIUM LEAD NICKEL ZINC NATURALGAS COMEX
312.65 317.65 +1.60% 109.90 110.30 +0.36% 116.60 116.10 -0.43% 623.70 620.30 -0.55% 136.05 137.45 +1.03% 185.80 187.10 +0.70% Date Date % Chg 20-06-16 21-06-16 GOLD 1292.10 1272.65 -1.51% SILVER 17.514 17.315 -1.14% CRUDE 49.96 49.27 -1.38% COPPER 2.093 2.117 +1.15% USDINR 67.3975 67.5775 +0.27% $ INDEX 93.68 94.02 +0.36% OUR PREVIOUS CALLS UPDATE Intraday super star Date
Commodity
Entry
Exit
P/L
21/06
LEAD
116.90
116
-4500
Date Commodity 21/06 ALUMINIUM Trifid special
Entry 110
Exit -
P/L -
Date 21/06
Entry 7000
Exit 7100
P/L 10000
Multibagger
5.45M
-0.9M
Commodity DHANIYA
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Gold and Silver GOLD
COMEX GOLD
PIVOTS S1 MCX 30200 COMEX 1265
S2 30000 1255
R1 30500 1277
R2 30800 1287
Gold opened on lower note and in evening session showed downward movement and found support of 30230. Now if it will break 30200 support levels than 30000 will act as next support level. On the other hand 30600 will be major resistance level.
SILVER
COMEX SILVER
PIVOTS
S1
S2
R1
R2
Silver showed sideways to bearish movement. Now if it will
MCX COMEX
41050 17.10
40500 16.90
41600 17.40
42000 17.62
break the important support level of 41000 then 40500 act as next support level. On higher side 42000 will act as vital resistance level.
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Crude and Copper CRUDE
COMEX CRUDE
Crude oil showed sideways movement and found PIVOTS
S1
S2
R1
R2
MCX
3320
3285
3385
3415
COMEX
48.80
48.25
49.80
50.30
COPPER
important resistance of 3385 on daily chart. Now if it showed bullish movement and maintain above 3385 then 3440 will be next resistance level. On the lower side important support is 3300. COMEX COPPER
PIVOTS
S1
S2
R1
R2
Copper showed strong movement and found the resistance
MCX
314
311
317
320
of 317. Maintain above 318 then next resistance level will
COMEX
2.0930
2.0810
2.1090
2.1800
be seen at 321. If some correction happens on lower side then it drags towards support level of 312.
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Other Commodities PIVOT S COMMODITIES S1
S2
R1
R2
VOLUME
OI
TREND
ALUMINIUM
109.40
108.50
111.30
113
9693
4073
Bullish
LEAD
114.80
113.70
117.20
118.30
14318
3240
Bullish
NICKEL
614.50
606
628
646
38648
17223
Bullish
ZINC
136.10
134.60
138.40
139.90
27177
6462
Bullish
NATURAL GAS
183.20
178
190
193
54204
10763
Bullish
LME INVENTORY dasdasdinkjjlfcnlad COMMODITIES 15/06/2016 iInventory
16/06/2016
17/06/2016
20/06/2016
21/06/2016
ALUMINIUM
-2475
-6450
-6200
-5025
-6625
COPPER
-1125
-3125
-3100
-1900
-1850
LEAD
-150
-150
-50
-50
-50
NICKEL
-1524
-516
-2382
-330
+156
ZINC
-875
-925
+17750
-2550
-1175
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Agri Commodity Updates TURMERIC Turmeric showed bullish movement and near to its important resistance level of 8200. Now on higher side 8200 will act as important resistance level above which it will bounce towards the resistance level of 8270. On lower side some correction drags it towards the support level of 8070. PIVOTS
S1
S2
R1
R2
8090
8010
8200
8270
DHANIYA Dhaniya showed sideways to bullish movement and found the resistance of 7100. Now on lower side 7035 will act as important support level below which it will drag towards the support level of 6950. On higher side some correction pulls it towards the resistance level of 7200.
PIVOTS
S1
S2
R1
R2
7035
6980
7145
7200
CHANA Chana showed sideways movement and found the resistance of 6900. Now on higher side 6920 will act as important resistance level above which it will bounce towards the resistance level of 7050. On lower side some correction drags it towards the support level of 6800.
PIVOTS
S1
S2
R1
R2
6800
6700
6950
7050
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