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1 Commodity Weekly Report
Weekly Commodity Report (18th-Feb-2019)
2
Fundamental News: Gold is at an inflection point as traders muse
over what's more important to the market -- a U.S.-China trade
deal that could knock bullion off its $1,300 perch or a spike in
Brexit/Venezulea worries that may result in new 2019 highs.
Technical Outlook: Gold has remains in a range bound trade in
between 32465 to 33777. So, Buy near 33315 with TGT 33431 &
33574 SL 33200 or else Short below 33084 with TGT 32969 &
32826 SL 33200.
Data to Watch: US FOMC Meeting Minutes, US Core Durable
Goods Orders m/m, US Durable Goods Orders m/m, US Philly Fed
Manufacturing Index, US Unemployment Claims, CANADA BOC
Gov Poloz Speaks, CANADA Core Retail Sales m/m, CANADA Retail
Sales m/m, US FOMC Member Williams Speaks, EUR ECB Presi-
dent Draghi Speaks, US FOMC Member Clarida Speaks.
Weekly Commodity Report
18th-Feb-2019
Commodity Weekly Report
R1 33431 R2 33574 R3 33805
S1 32969 S2 32826 S3 32595
MCX GOLD Daily Chart
GOLD Commentary
Weekly View
Medium term View
MCX SILVER Daily Chart SILVER Commentary
Fundamental News: The problem is the various conflicting
interests in that path, i.e. a trade war resolution that would
reduce the need for a hedge, versus a potential flare up in Brexit/
Venezuela that might drive more investors toward precious
metals.
Technical Outlook: Silver remains in a range bound trade. Go long
near 39913 with TGT of 40066 & 40256 and maintain SL of 39759
or else Sell below 39606 with TGT 39452 & 39262 and keep SL of
39759 level.
Data to Watch: US FOMC Meeting Minutes, US Core Durable
Goods Orders m/m, US Durable Goods Orders m/m, US Philly Fed
Manufacturing Index, US Unemployment Claims, CANADA BOC
Gov Poloz Speaks, CANADA Core Retail Sales m/m, CANADA Retail
Sales m/m, US FOMC Member Williams Speaks, EUR ECB Presi-
dent Draghi Speaks, US FOMC Member Clarida Speaks.
Weekly View
Medium term View
R1 40066 R2 40256 R3 40563
S1 39452 S2 39262 S3 38955
3
Fundamental News: The bullish dominos keep falling for crude
oil in 2019 with demand stable despite other economic indicators
tipping into the red with sanctions and production cuts the world
over.
Technical Outlook: Crude Oil may expect a momentum trade.. Go
long near 3923 With TGT of 3986 & 4063 and keep Sl of 3860 or
else short near 3793 with TGT of 3735 & 3658 and keep stop loss
of 3860.
Data to Watch: US FOMC Meeting Minutes, US Core Durable
Goods Orders m/m, US Durable Goods Orders m/m, US Philly Fed
Manufacturing Index, US Unemployment Claims, US Crude Oil
Inventories, CANADA BOC Gov Poloz Speaks, CANADA Retail Sales
m/m, US FOMC Member Williams Speaks, EUR ECB President
Draghi Speaks, US FOMC Member Clarida Speaks.
Weekly Commodity Report
21st-May-2018
Commodity Weekly Report
R1 3986 R2 4063 R3 4198
S1 3735 S2 3658 S3 3532
MCX CRUDE OIL Daily Chart CRUDE OIL Commentary
Weekly View
Medium term View
MCX NATURAL GAS Daily Chart NATURAL GAS Commentary
Fundamental News:
The March natural gas contract rebounded a couple percent today
as weather models began adding back demand and weather-
adjusted demand continued to impress.
Technical Outlook:
Natural Gas has remains in negative bias and any surge seen to
utilize a selling opportunity. Go Short below 184 with TGT of
183.2 & 182.3 and keep stop loss of 184.7 Or else Go long near
185.4 with TGT of 186.2 & 188.6 and Keep SL of 184.7 level.
Data to Watch: US Natural Gas Storage. Weekly View
Medium term View
R1 186.2 R2 188.6 R3 191.3
S1 183.2 S2 180.8 S3 179.1
Weekly Commodity Report
18th-Feb-2019
4
Fundamental News: Base metals prices on the London Metal
Exchange were higher across the board at the close of trading on
Friday February 15, with market sentiment continuing to improve
amid US-China trade talks, while participants continue to short-
cover after last week’s price rally.
Technical Outlook: Copper has witnessed a mild positive rally. So,
go long near 440.6 with TGT of 442.9 & 445.75 and maintain Stop
loss of 438.35 or else go short below 436.05 with TGT 433.75 &
430.95 and keep sl of 438.35 level.
Data to Watch: GBP Unemployment Rate, EUR German ZEW Eco-
nomic Sentiment, EUR Flash Manufacturing PMI, GBP Public Sec-
tor Net Borrowing, EUR ECB Monetary Policy Meeting Accounts,
US FOMC Meeting Minutes, US Core Durable Goods Orders m/
m, US Durable Goods Orders m/m, US Philly Fed Manufacturing
Index, US Unemployment Claims, , EUR ECB President Draghi
Speaks, US FOMC Member Clarida Speaks.
Weekly Commodity Report
21st-May-2018
Commodity Weekly Report
R1 442.9 R2 445.75 R3 450.3
S1 433.75 S2 430.95 S3 426.4
MCX COPPER Daily Chart
COPPER Commentary
Weekly View
Medium term View
MCX ALUMINIUM Daily Chart ALUMINIUM Commentary
Fundamental News: Section 232 tariffs on aluminium and steel
raised $3.6 billion in their first nine months, and revenues for the
last two months are likely to push that figure up by around
another $1 billion, US government data shows.
Technical Outlook: Aluminium may expect a mild recovery until
close below 130.1 level. So, go short near 131 with TGT of 130.35
& 129.5 keep SL of 131.7 & Go long near 132.35 with TGT of
133.05 & 135.35 and keep Sl of 131.7.
Data to Watch: GBP Average Earnings Index 3m/y, GBP
Unemployment Rate, EUR German ZEW Economic Sentiment, EUR
Flash Manufacturing PMI, GBP Public Sector Net Borrowing, EUR
ECB Monetary Policy Meeting Accounts, US FOMC Meeting
Minutes, US Core Durable Goods Orders m/m, US Durable Goods
Orders m/m, US Philly Fed Manufacturing Index, US
Unemployment Claims, US FOMC Member Williams Speaks, EUR
ECB President Draghi Speaks, US FOMC Member Clarida Speaks.
Weekly View
Medium term View
R1 133.05 R2 135.35 R3 140.7
S1 129.5 S2 128.15 S3 126.6
Weekly Commodity Report
18th-Feb-2019
5
Technical Outlook: Lead may expect a momentum trade. So, go
long near 147.4 with TGT of 148.65 & 150.2 and keep SL of 146.2.
Data to Watch: GBP Average Earnings Index 3m/y, GBP
Unemployment Rate, EUR German ZEW Economic Sentiment, EUR
Flash Manufacturing PMI, GBP Public Sector Net Borrowing, EUR
ECB Monetary Policy Meeting Accounts, US FOMC Meeting
Minutes, US Core Durable Goods Orders m/m, US Durable Goods
Orders m/m, US Philly Fed Manufacturing Index, US
Unemployment Claims, EUR ECB President Draghi Speaks.
Weekly Commodity Report
21st-May-2018
Commodity Weekly Report
MCX LEAD Daily Chart
LEAD Commentary
Weekly View
Medium term View
MCX ZINC Daily Chart ZINC Commentary
Technical Outlook: Zinc futures closed above $2,600 per tonne
and continued to trade in a volatile trend after soaring to their
highest level since August 2018 at $2,800 per tonne last week. So,
long near 189.85 with TGT of 191.3 & 193.15 and SL of 188.35.
Data to Watch: EUR German ZEW Economic Sentiment, EUR Flash
Manufacturing PMI, GBP Public Sector Net Borrowing, EUR ECB
Monetary Policy Meeting Accounts, US FOMC Meeting Minutes,
US Core Durable Goods Orders m/m.
Weekly View
Medium term View
R1 148.65 R2 150.15 R3 152.6
S1 143.75 S2 142.25 S3 139.75
R1 191.3 R2 193.15 R3 196.15
S1 185.35 S2 183.5 S3 180.55
MCX NICKEL Daily Chart NICKEL Commentary
Technical Outlook: Nickel has witnessed a short covering rally.
So, go long near 888.2 with TGT of 896.3 & 906.4 SL of 880.1
level.
Data to Watch: GBP Average Earnings Index 3m/y, GBP
Unemployment Rate, EUR German ZEW Economic Sentiment, EUR
Flash Manufacturing PMI, GBP Public Sector Net Borrowing.
Weekly View
Medium term View
R1 896.3 R2 906.4 R3 922.7
S1 863.8 S2 853.7 S3 837.5
Weekly Commodity Report
18th-Feb-2019
6 Commodity Weekly Report
Weekly MCX COMMODITY CHANGE
ECONOMIC CALENDER
Indices Close Change %
GOLD 33384.00 142 0.43
SILVER 39962.00 -143 -0.36
CRUDE OIL 3951.00 191 5.08
NATURAL GAS 186.60 1.7 0.92
COPPER 441.80 -0.9 -0.20
ALUMINIUM 131.15 -2.55 -1.91
LEAD 147.65 -0.95 -0.64
ZINC 190.45 -2.3 -1.19
NICKEL 881.00 -14.7 -1.64
Country Economic Event Forecast Previous Date &Time
JAPAN Current Account 0.23T -0.78T 9th June (5.20 AM)
JAPAN Final GDP q/q 1.4% 1.5% 9th June (5.20 AM)
CANADA Housing Starts 185K 195K 9th June (5.45 PM)
AUD RBA Gov Stevens Speaks - - 9th June (9.00 PM)
GBP BRC Retail Sales Monitor y/y - 4.2% 10th June (4.31 AM)
JAPAN Tertiary Industry Activity m/m -3.3% 2.4% 10th June (5.20 AM)
AUD Home Loans m/m 0.3% -0.9% 10th June (7.00 AM)
CHINA CPI y/y 2.4% 1.8% 10th June (7.00 AM)
CHINA PPI y/y -1.5% -2.0% 10th June (7.00 AM)
EUR French Industrial Production m/m 0.3% -0.7% 10th June (12.15 PM)
CHINA New Loans 750B 775B 10th — 14th June
GBP Manufacturing Production m/m 0.4% 0.5% 10th June (2.00 PM)
Weekly Commodity Report
21st-May-2018
Source : Forex Factory
Weekly Commodity Report
18th-Feb-2019
7 Commodity Weekly Report
ECONOMIC CALENDER
Weekly Commodity Report
21st-May-2018
Source : Forex Factory
Weekly Commodity Report
18th-Feb-2019
8 Commodity Weekly Report
ECONOMIC CALENDER
Weekly Commodity Report
21st-May-2018
Source : Forex Factory
Weekly Commodity Report
18th-Feb-2019
9 Commodity Weekly Report
Weekly Commodity Report
21st-May-2018
RESEARCHED & PREPARED BY
B.KESAVAMOORTHY— SENIOR RESEARCH MANAGER
EMAIL ID: [email protected]
CONTACT NO: 0422-4700840
LAL’S
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Weekly Commodity Report
18th-Feb-2019