Weekly Commodity Outlook 29.06.2015
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WEEKLY COMMODITY OUTLOOK
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World production is forecast to fall nearly 7 percent to 111.25 millionbales (mb) in response to lower prices in most major producing regions.India is forecast to decline only slightly as its support policy protectsfarmers from world prices decline. China is expected to fall by 10 percentto 27 mb the lowest level since 2003.Imports in China are expected to fall to the lowest level in 13 years dueto continuing import restrictions accompanying efforts to reducegovernment-held stocks. India’s exports are expected to increase sharplyin response to the large carry-in stocks that resulted from this season’ssupport policy. Australia’s exports are expected to decline due to asecond season of unfavorable weather and planting conditions.China’s plantings are forecast to decline 27.4 percent from last yearaccording to the China Cotton Association. Meanwhile, China hasreduced the target price of its cotton subsidy scheme by 3.5 percent to19100 yuan ($3080) for 2015, down from 19,800 yuan last year.
Transcript of Weekly Commodity Outlook 29.06.2015
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WEEKLY COMMODITY OUTLOOK
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MCX Gold futures were ended negatively compared to previous week. It was ended at 26532.The Moving
Average is above the closing price. The RSI is in neutral zone. The averages in MACD are below the zero
line and negative cross over. MCX Gold further may test low side is expected. The support seen at 23890
and resistance is 28580.
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MCX Silver futures were ended at 35971.It was ended at negatively. The Moving Average is above the
closing price. The RSI tested zone is moving towards to overbought zone. Averages in MACD are below the
zero line and negative cross over .It may Further downside is expected. The support seen at 34620 and
resistance at 38550.
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MCX Copper futures were traded at negatively on last trading day is 371.35. The Moving Average is Nearly
below the closing price. The RSI tested is neutral zone. The MACD are below the zero line and negative
crossover. Copper further upside is expected .The support is 362 & resistance 380
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MCX Nickel futures were traded at 789.60 on final trading day.The nickel futures were traded negatively
compared to previous week.The Moving Average is above the closing price.The RSI is in neutral zone.The
MACD are below the zero line and negative cross over. The MCX Nickel futures further upside is
exepected.The support seen at 770 and resistance 830.
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MCX Crude oil Future was traded at 3815. The crude oil was ended at positively compared to previous week. The Moving average is above the closing price. The RSI tested zone is Neutral. The MACD are above the zero line and Positive cross over. The MCX Crude oil further upside is expected. The support 3620 and resistance 3980.
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MCX Lead future was traded at negatively compared to previous week. The lead finally traded at 112.30. The Moving
average is above the closing price. The RSI tested zone moving towards to overbought zone. The MACD is below the zero
line and negative cross over. The MCX lead further downside is expected. The support is 105 and resistance is 125.
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MCX Aluminium futures were ended at 106.10 in last trading day and it was ended at negatively compared to prevoius
week. The moving average is above the closing price. RSI tested zone is over bought zone. The MACD is below the zero
line and negative cross over. Aluminium future further downside is expected. The support is 101 and resistance is 112.80.
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MCX Zinc Future were traded at 128.60. Zinc Future was ended at negatively compared to previous week. The Moving
average indicator is above the closing price. The RSI is moving towards to overbought zone. The MACD are below the zero
line and negative cross over. The MCX Zinc further downside is expected. The support seen at 125 and resistance 140.
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MCX Natural gas Future were traded at 178.10. Natural gas Future were ended at positively compared to previous week.
The Moving average is above the closing price. The RSI tested zone is Neutral. The MACD are above the zero line and
Positive cross over. The MCX natural gas further downside is expected. The support 165 and resistance 184.80.
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*chart source- www.bazaartrend.com
