Weekly-commodity-report by EPIC RESEACH 9 September 2013

7/29/2019 Weekly-commodity-report by EPIC RESEACH 9 September 2013

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MCX COMMODITY DAILY REPORT

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EPIC Research Report

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Date: 09-September-2013

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MCX Daily Newsletter (09-September-2013)

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WEEKLY COMMODITY WRAP…..!!!!!

Base metals

LME base metals traded lower this week as instability in the MiddleEast managed to overshadow flow of positive macroeconomic

numbers from China and Europe.

On fundamental front, International Lead and Zinc Study reportedthat global zinc market was in surplus by 44,000 tons in the first six

months of the year, while global lead market was in deficit by 40,000tons respectively.

On production front, International Aluminum

Institute reported that total global production for July reached

2.099mn tons against 2.044mn tons in June. In China, totalProduction in July was 1.839mn tons, down from 1.843 million

Tons in June.

Non-ferrous metals may remain under pressure as concernsLoom large over Syria. High energy prices can adversely impactMetals consumption across the globe.

Spiraling energy costs deflates consumer spending and derailseconomic growth. Markets will remain nervous until there is an end

to the hostility regarding Syria.

Precious metals

Precious metals witnessed spectacular upside this week, with theYellow metal hit a three-month high of US$1,434/oz and silver Prices approaching US$25/oz. Turbulence in the Middle East andEscalating probability of US initiating a military strike on SyriaHas persuaded investors to flock for the safe haven assets.

On macroeconomic front, US housing sales and durable ordersDisappointed, however US preliminary Q2 GDP growth figures

Came in better than expected. On investment front,

The SPDR Gold Trust ETF has reported modest inflows for the pastfew days. It seems to be an encouraging sign, whereby heftyredemptions in the ETF have abated and now money seems to beflowing back.

On sovereign front, central bank gold buying activity is also picking up, with Turkey, Russia and Azerbaijan all stepping uptheir gold purchases in July. In domestic markets, Indian rupeewas worst hit, tumbling towards 69 levels and in the process

giving a massive lift to gold prices

Market participants will continue to focus on how US FederalReserve will act on September 17th policy meeting. TheConsensus is that the apex body might taper the stimulusDuring September or October; however the probability of anAttack on Syria can change the complexion of the game. GoldPrices are expected to trade steady during the course of nextFew weeks, until we get more clarity from US Federal Reserve

Meeting in September.





WEEKLY PIVOT LEVELS

SCRIPTS WEEKLY

High

WEEKLY

Low

WEEKLY

Close

S2 S1 PIVOT R1 R2

GOLD OCT 32549 31564 31884 31014.00 31449.00 31999.00 32434.00 32984.00

SILVER DEC 59598 53351 64982 53063.33 59022.67 59310.33 65269.67 65557.33

CRUDE OIL SEPT 7519 7015 7169 6730.33 6949.67 7234.33 7453.67 7738.33

COPPER NOV 510.5 473.8 476.25 450.15 463.20 486.85 499.90 523.55

NICKEL SEPT 949.7 899 905.8 867.47 886.63 918.17 937.33 968.87

NATURAL GAS SEPT 257.1 228.8 230.1 210.37 220.23 238.67 248.53 266.97

ALUMINIUM SEPT 123.95 115 116.8 109.63 113.22 118.58 122.17 127.53

ZINC SEPT 130.5 121.35 122.4 115.60 119.00 124.75 128.15 133.90

LEAD SEPT 148.7 138.4 139.2 131.80 135.50 142.10 145.80 152.40





GOLD MCX HOURLY CANDLESTICK CHARTTRADING STRATEGY:

GOLD MCX is trading too volatile and has faced correction last week. Momentum

seem to be in favour of bears and also USDINR may face correction this week.

Immedaite Resistance @32420 and Support @31550

1. BUY GOLD ABOVE 32420 TGTS 32520/32750 SL 32320

2. SELL GOLD BELOW 31550 TGTS 31450/31200 SL 31650

SILVER MCX HOURLY CANDLESTICK CHARTTRADING STRATEGY:

SILVER MCX faced correction last week. Momentum seem to be in favour of bears and

also USDINR may face correction this week. Hence fresh Short Positions can be

created.Immediate Resistance @55620 and Support @54250

1. BUY SILVER ABOVE 55620 TGTS 55820/56150 SL 55320

2. SELL SILVER BELOW 54250 TGTS 54050/53700 SL 54550





COPPER MCX HOURLY CANDLESTICK CHARTTRADING STRATEGY:

COPPER MCX also faced correction last week and May take Support around levels

@470-465. Any Correction towards 470 will be buying opportunity in Copper.

Immediate Resistance @476 and Support @472

1. BUY COPPER ABOVE 476.80 TGTS 478.80/481.80 SL 473.80

2. SELL COPPER BELOW 472.30 TGTS 470.30/467.30 SL 475.30

CRUDEOIL MCX HOURLY CANDLESTICK CHARTTRADING STRATEGY:

CRUDEOIL MCX has strong support Support around 7100-7050 levels and any

correction towards those levels will be buying opportunity. Alternetively we may see

selling if beaks support @7050Immediate Resistance @7225 And Support @7135

1. BUY CRUDEOIL ABOVE 7225 TGTS 7255/7325 SL 7175

2. SELL CRUDEOIL BELOW 7135 TGTS 7105/7045 SL 7185




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Weekly-commodity-report by EPIC RESEACH 9 September 2013