Free Weekly Commodity Tips By Trifid Research

6
06 OCT 10 OCT 2014 W E E K L Y R E P O R T Blow by Blow On Bullions, Base metals, Energy… WWW.TRIFIDRESEARCH.COM

description

Trifid Research Provider offers free commodity tips, Online MCX Tips, NCDEX Tips, gold silver tips, mcx gold tips today on mobile. Register now to get free trial.

Transcript of Free Weekly Commodity Tips By Trifid Research

Page 1: Free Weekly Commodity Tips By Trifid Research

06 OCT – 10 OCT 2014

W E E K L Y

R

E

P

O

R

T

Blow by Blow

On

Bullions,

Base metals,

Energy…

WWW.TRIFIDRESEARCH.COM

Page 2: Free Weekly Commodity Tips By Trifid Research

MAJOR EVENTS MCX Gold futures dropped further today as highs near Rs 27000 showed no signs of

holding up. The global prices dropped yet again towards their ten month low mark

near$1200 per ounce yesterday and linger around the same mark right now. Gold

plummeted heavily yesterday, not holding on to the levels near $1220 per ounce and

currently tradesat $1207.20 per ounce, down $4.40 per ounce on the day. MCX Gold

futures for December trade at Rs 26793 per 10 grams, down Rs 179 per 10 grams on

the day.

This took air out of the gold futures and put them on the downward trajectory

yetagain. The metal tested a ten month low near $1200 per ounce last week. Spot

demand inIndia is expected to recover as Diwali approaches given that the prices are

lingering atan attractive level, lingering around Rs 26500 mark in major cities. The

latest setback infutures is unlikely to impact local spot markets much given that the

Indian Rupee hasweakened and is quoting around 62 per US dollar right now- its

seven month low. Gold carved out steady gains yesterday in Asia and Europe as

bargain buying continued to support momentum.

Bargain Buying emerged in crude oil today after a massive crash in the last

session.The commodity witnessed a heavy correction after trading near its one

month high mark as asurge in the US dollar and less than optimistic data releases in

the US took a heavy tollon sentiments. WTI Crude fell near its one year low mark but

stayed afloat above $90 perbarrel. The counter pared nearly three dollars to end just

above $91 per barrel levelsyesterday. The commodity is quoting at $91.54 per barrel

right now, up 38 cents per barrelon the day. MCX Crude oil futures are trading at Rs

5671 per barrel, down Rs 2 per barrelon the day. The benchmark Chicago

purchasingmanagers' index dropped to 60.5 points, down from 64.3 points in August.

However, the moredownbeat impact was delivered by data showing that the

consumer sentiment in USdeteriorated to the lowest level since June, as people

became more critical on assessmentof current job market in the country. Respective

index from the Conference Board droppedto 86 points in September from a 93.4 in

August. Consumer sentiments index is a criticalindicator of the status of economic

well being as consumer spending accounts for 70% of USeconomy.

Crude On

Recovery Trail,

WTI Futures

Above $91 After

Massive Drop.

Yesterday.

Nickel Advances

Most in 19 Weeks

as Goldman See

Rally.

Nickel rose the most since mid-May as Goldman Sachs Group Inc. said it expects prices

to recover after the metal entered a bear market this week. Rising costs stemming

from an Indonesian ore-export ban, along with lower Philippine ore deliveries to

China, the world’s largest nickel user, will help boost prices to $22,000 a metric ton in

12 months, or 37 percent higher than yesterday’s close, Goldman analysts led by

Jeffrey Currie said in a note dated yesterday. Indonesia was the top supplier to China

until it implemented the limits in January. The Indonesians don’t seem to be relenting

on the ore-export ban, so the nickel price is likely to have some upside from here.

Nickel for delivery in three months climbed 3.3 percent to settle at $16,550 a ton at

5:50 p.m. on the London Metal Exchange, the first gain in seven sessions and the

biggest increase since May 19.The metal entered a bear market on Sept. 29, falling

more than 20 percent from its May high on record inventories and signs of slowing

economic growth in China. Copper for delivery in three months rose 0.6 percent to

$6,642 a ton ($3.01 a pound) on the LME. Prices capped the sixth straight weekly loss,

the longest slump since June 2012. Aluminum and zinc also advanced on the LME,

while lead dropped and tin was unchanged.

Gold Lingers

Around Ten

Month Lows On

COMEX.

Page 3: Free Weekly Commodity Tips By Trifid Research

E C O N O M I C C A L E N D E R

DATE & TIME DESCRIPTION FORECAST PREVIOUS

Oct 07 7:30pm JOLTS Job Openings 4.71M 4.67M

7:30pm IBD/TIPP Economic Optimism 46.3 45.2

10:50pm FOMC Member Kocherlakota Speaks

Oct 08 12:30am FOMC Member Dudley Speaks

12:30am Consumer Credit m/m 20.3B 26.0B

8:00pm Crude Oil Inventories -1.4M

10:31pm 10-y Bond Auction 2.54/2.7

11:30pm FOMC Meeting Minutes

Oct 09 6:00pm Unemployment Claims 291K 287K

7:30pm Wholesale Inventories m/m 0.1%

8:00pm Natural Gas Storage 112B

Day 1 ALL G20 Meetings

10:31pm 30-y Bond Auction 3.24/2.7

Oct 10 6:00pm Import Prices m/m -0.5% -0.9%

6:30pm FOMC Member Plosser Speaks

Day 1 ALL IMF Meetings

Day 2 ALL G20 Meetings

11:30pm Federal Budget Balance -128.7B

Oct 11 6:30pm FOMC Member Tarullo Speaks

Day 2 ALL IMF Meetings

Page 4: Free Weekly Commodity Tips By Trifid Research

S1 S2 S3 R1 R2 R3

26400 26000 25700 26825 27260 27690

S1 S2 S3 R1 R2 R3

37000 36000 35000 38600 39500 40500

T E C H N I C A L V I E W

MCX GOLD showed some correction in

whole week but not able to maintains

above 27000 and closed below the

support level of 61.8% retracement.

Now, if it able to sustain below 26500

then next vital support is seen near

psychological level of 26000. Contrary

if it maintains above 26850 then

breakout of downward channel pattern

expected which breach it upto next

resistance i.e. 27260.

S T R A T E G Y Better strategy in MCX GOLD is to sell

below 26500 for the targets of 26000

with stop loss of 27100.

PIVOT TABLE

G O L D

PIVOT TABLE

S I L V E R

T E C H N I C A L V I E W

MCX SILVER on daily charts showed

bearish movement and also gives

breakout of its important support level

i.e. 38500 and closed below it. Now, if

it sustain below 37000 then next

support is seen around 35500. On

higher side 38700 is act as important

resistance level for it above which it

may test the psychological level of

40000.

S T R A T E G Y Better strategy in MCX SILVER at this

point of time is to sell on highs for the

targets of 36000, with stop loss of 40000.

Page 5: Free Weekly Commodity Tips By Trifid Research

C R U D E O I L

C O P P E R

S1 S2 S3 R1 R2 R3

5525 5400 5280 5730 5885 6000

S1 S2 S3 R1 R2 R3

411 407.95 404 417.50 422.30 428

T E C H N I C A L V I E W

MCX Copper last week showed

sideways to bearish movement and

closed below 50% retracement level

i.e. 417 and found the support of

61.8% retracement. Now, if it breaks

the support level of 411 then next

support level is seen around 405. On

higher side if it maintains above 417

then next resistance is seen in the

range of 422-425.

S T R A T E G Y Better strategy in MCX CRUDEOIL is to

sell below 5525 for the targets of 5400-

5300, with stop loss of 5750.

PIVOT TABLE

T E C H N I C A L V I E W

MCX Crude oil last week showed

bearish movement and gave false

breakout of double bottom pattern

and took support of 5525. Now, if it

sustain below 5525 in coming sessions

then it may test the next support level

of 5400. On other hand closing some

correction may take it towards the

resistance level of 5850.

S T R A T E G Y Better strategy in MCX COPPER is to sell

below 411, with stop loss of 423 for the

targets of 405-400.

PIVOT TABLE

Page 6: Free Weekly Commodity Tips By Trifid Research

WWW.TRIFIDRESEARCH.COM

DISCLAIMER