DAILY MCX COMMODITY MARKET UPDATES – 10 SEP 2015

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10/09/2015

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DAILY MCX NEWSLETTER


BULLION:

Gold prices gained in Asia on Thursday with regional data sets noted, particularly

a rise in consumer prices in China. In China consumer prices rose 0.5%, higher

than the 0.4% gain seen in August and producer prices fell 5.9%, ore than the

expected drop of 5.5% year-on-year. On the Comex division of the New York

Mercantile Exchange, gold for December delivery rose 0.33% to $1,105.60 a troy

ounce. On Tuesday, World Bank chief economist Kaushik Basu warned that a rate

hike by the Fed next week could trigger a widespread crisis in emerging markets,

pushing capital away from their economies and potentially creating sharp

fluctuations in their currencies.

BASE METAL: Goldman Sachs lowered its medium-term

forecast for copper prices Sept. 8, though

Glencore plans to cut its copper output,

according to Wallstreetcn.com. Base metal

prices on the SHFE now waits for the result of

major economic results from China on Sept. 10.

LME copper retreated earlier gains during

European and US trading hours responding to a

slowdown in China’s economy and firmer US

dollar. The 3-month copper finally edged up

USD 4/mt to USD 5,356/mt. LME copper is

predicted to range between USD 5,300-

5,380/mt during Asian trading hours.

ENERGY:

Oil prices fell on Thursday as weak Japanese and Chinese economic data fuelled concerns that low levels of investment could further

erode already slowing global growth. Japan's core machinery orders fell 3.6 percent in July, official data showed, much worse than a

3.7 percent increase expected by economists, and followed a 7.9 percent month-on-month decline in June. In China, Asia's biggest

economy, analysts already expect a further slowdown in economic growth, now at its lowest in a generation.


CS GOLD (OCTOBER) OVERVIEW:

TREND : BEARISH

RESIST 2: 26400 RESIST 1: 26280

SUP 1: 25980 SUP 2: 25870

STRATEGY: SELL ON RISE

CS SILVER (DECEMBER) OVERVIEW:

TREND : SIDEWAYS RESIST 2:36120 RESIST 1:35800

SUP1:35175 SUP2:34770

STRATEGY : SELL ON RISE

CS CRUDE OIL (SEPTEMBER) OVERVIEW:

TREND :BEARISH

RESIST 2:3140 RESIST 1:3100

SUP1:2880 SUP2:2840


CS NATURAL GAS (SEPTEMBER) OVERVIEW:

TREND :SIDEWAYS RESIST 2:183 RESIST 1:181

SUP1: 177 SUP2:175

STRATEGY: BUY ON DIPS

BULLION & ENERGY


CS COPPER (NOVEMBER) OVERVIEW:

TREND :BEARISH RESIST 2:369 RESIST 1:367

SUP1:360 SUP2:358


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BASE METAL


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MCX CRUDE OIL SEP., Wednesday as seen in the daily chart opened at 3071 levels and day high

of 3084 levels. During this period price corrected & made day low of 2976 levels finally

closed at 2989 levels. Now, there are chances of further downward movement technically &

fundamentally.

Oil prices fell on Thursday as weak Japanese and Chinese economic data fuelled concerns that low

levels of investment could further erode already slowing global growth.

DAILY RECOMMENDATION: SELL MCX CRUDE OIL SEP., BELOW 2970 LEVELS FOR TARGET

OF T1 2870/T2 2820 WITH SL OF 3090 LEVELS.


COMMODITY PICK OF THE DAY: CRUDE OIL

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DAILY MCX COMMODITY MARKET UPDATES – 10 SEP 2015

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