Weekly Mcx Newsletter for Indian Commodity Market by CapitalHeight

Weekly Newsletter MCX 27/07/2015

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Weekly MCX News Letter Contents

Upcoming events Market Wrap

Gold

Silver

Copper

Crude Oil

Technical Analysis

Gold

Silver

Copper

Crude Oil



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Phone- (0731)6615050

WEEKLY UPCOMING EVENTS

Date Currency Event Forecast Previous

27-Jul

USD Core Durable Goods Orders m/m 0.004 0

USD Durable Goods Orders m/m 0.032 -0.022

28-Jul USD CB Consumer Confidence 100.1 101.4

29-Jul

USD Pending Home Sales m/m 0.012 0.009

USD Crude Oil Inventories - 2.5M

30-Jul

USD FOMC Statement - -

USD Federal Funds Rate



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MARKET WRAP GOLD

Last week MCX Gold setteled lower 5th weeks consecutively ahead of tracking weak

international market due to fear of interest rate hike in US, strong dollar index and better

jobless claim data.

MCX Gold tumbled more than 3% last week and settled at INR 24731 while COMEX gold

closed at USD 1098.85 with 0.85% downside. For the coming week we can expect further

bearish movment in MCX Gold if it manages to sustain below the level of 25100 then it can

test the level of 24250-24000.

Weelky Pivot Levels

COMMODITY R3 R2 R1 P S1 S2 S3

GOLD 26933 25909 25320 24885 24296 23861 22837

Outlook

Trend: Consolidate

Resistance: 25320, 25900

Support: 24290, 23860

Strategy: Sell on highs



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SILVER

Last week MCX Silver tracked the Gold prices in domestic market and international market

due to interest rate hike in US and strong dollar index but lower prices increases the

industrial demad of Silver in spot market.

MCX Silver down by 1.5% last week and settled at INR 33702 while COMEX Silver closed

at USD 14.68 with 0.2% upside. For the coming week we can expect bearish movment in

MCX Silver if it sustains below the level of 33900 then it may test the level of 24250-

24000.

Weelky Pivot Levels


SILVER 36154 34991 34346 33828 33183 32665 31502

Outlook

Trend: Consolidate


Support: 33100, 32670




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CRUDE OIL

Last week Crude Oil witnessed mixed movement in initial part of the week but settled on

negative note. Dollar strength along with unexpected increase in US crude stock along

with better better forcast by World Bank also put pressure on Crude Oil prices.

MCX Crude Oil prices fell more than 3.4% last week and settled at INR 3098 while

NYMEX Crude closed at USD 48.23 with 3.8% downside. For the coming week we can

expect downside movment in MCX Crude Oil if it sustains below the level of 3130 then it

may test the level of 3030-2960.

Weelky Pivot Levels


COPPER 3564 3359 3228 3154 3023 2949 2744

Outlook

Trend: Consolidate


Support: 3020, 2950




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COPPER

Last week Copper prices dropped globally due to weaker-than-expected data from China

and the euro zone raised concerns over global economic growth. Copper prices fell to its

lowest in last six year.

MCX Copper prices witnesses more than 3.3% downside movement last week and closed

at INR 340.25 while COMEX Copper closed at USD 273.53 with 3.6% downside. For the

coming week we can expect bearish movment in MCX Copper if it manages to sustain

below the level of 350 then it may test the level of 330-315.

Weelky Pivot Levels


CRUDE OIL 387 365 352 343 331 321 300

Outlook

Trend: Consolidate


Support: 331, 321




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Phone- (0731)6615050

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Weekly Mcx Newsletter for Indian Commodity Market by CapitalHeight

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