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1 Commodity Weekly Report

Weekly Commodity Report (14th-MAR-2016)

2

Fundamental News: The gold rally was extinguished Friday

morning in the US after reaching a new high, while investors

now turn to next week’s Federal Reserve decision.

Technical Outlook: Gold has close below 29060 means some more

drop ahead. So, Buy near 29280 with TGT 29500 & 29700 SL

29060 or else Short below 28925 with TGT 28825 & 28492 SL

29060.

Data to Watch: JAPAN Monetary Policy Statement, US Core Retail

Sales m/m, US PPI m/m, US Retail Sales m/m, US Core PPI m/m,

US Empire State Manufacturing Index, US Building Permits, US CPI

m/m, US Core CPI m/m, US Housing Starts, US Capacity Utilization

Rate, US Industrial Production m/m, US FOMC Economic Projec-

tions, US FOMC Statement, US Philly Fed Manufacturing Index, US

Unemployment Claims, US Current Account, US JOLTS Job

Openings, US Prelim UoM Consumer Sentiment.

Weekly Commodity Report

14th-MAR-2016

Commodity Weekly Report

R1 29749 R2 30150 R3 31016

S1 29276 S2 28819 S3 28492

MCX GOLD Daily Chart

GOLD Commentary

Weekly View

Medium term View

MCX SILVER Daily Chart SILVER Commentary

Fundamental News: In US data, import prices is set to be released

later today, while Chinese industrial production, fixed assets

investment and retail sales are scheduled to be released over the

weekend. silver for May settlement increased 0.3 percent.

Technical Outlook: Silver has witnessed a bound trade between

36445 to 38250 level. Go short near 36750 with TGT of 36450 &

35915 and maintain SL of 37250 or else Buy near 37900 with

TGT 38400 & 38800 and keep SL of 37250 level.




m/m, US Core CPI m/m, US Housing Starts, US Capacity Utilization

Rate, US Industrial Production m/m, US FOMC Economic Projec-

tions, US FOMC Statement, US Philly Fed Manufacturing Index, US

Unemployment Claims, US Current Account, US JOLTS Job


Weekly View

Medium term View

R1 37850 R2 38250 R3 38800

S1 36445 S2 35915 S3 35234

3

Fundamental News: Crude Oil futures jumped to their highest

level on the calendar year, extending their month-long rally from

multi-year lows, as the domestic rig count last week fell to its

lowest level on record.

Technical Outlook: Crude Oil has witnessed a positive range bias

Go long above 2670 With TGT of 2730 & 2828 and keep Sl of

2600 or else Short below 2560 with TGT of 2516 & 2466 and

keep stop loss of 2600.




m/m, US Housing Starts, US Capacity Utilization Rate, US Industrial

Production m/m, US Crude Oil Inventories, US FOMC Economic

Projections, US FOMC Statement, US Philly Fed Manufacturing

Index, US Unemployment Claims, US Current Account, US JOLTS

Job Openings, US Prelim UoM Consumer Sentiment.


14th-MAR-2016


R1 2642 R2 2735 R3 2828

S1 2466 S2 2308 S3 2212

MCX CRUDE OIL Daily Chart CRUDE OIL Commentary

Weekly View

Medium term View

MCX NATURAL GAS Daily Chart NATURAL GAS Commentary

Fundamental News: U.S. natural gas futures turned lower in

North American trade on Thursday, reversing gains after data

showed U.S. natural gas supplies in storage fell broadly in line with

market expectations last week.

Technical Outlook:

Natural Gas has witnessed a short covering rally. Go long above

124 with TGT of 127.3 & 131.8 and keep stop loss of 120 Or else

Go short below 117.9 with TGT of 114.8 & 110 and Keep SL of

122 level.

Data to Watch: US Natural Gas Storage.

Weekly View

Medium term View

R1 127.3 R2 131.8 R3 136.3

S1 118.5 S2 112.6 S3 108

4

Fundamental News: Copper futures experienced a modest

rebound Friday morning after the latest attempt to spur the

European economy looks promising. The new programme is

expected to be the final expansion of a massive stimulus appara-

tus and will run till at least.

Technical Outlook: Copper has witnessed a range bound trade.

So, go short near 340.3 with TGT of 335 & 331 and maintain Stop

loss of 345 or else go long above 323.6 with TGT 328 & 333 and

keep sl of 316 level.

Data to Watch: JAPAN Monetary Policy Statement, US PPI m/m,

US Retail Sales m/m, US Empire State Manufacturing Index, GBP

Average Earnings Index 3m/y, GBP Claimant Count Change, US

Building Permits, US Housing Starts, US Capacity Utilization Rate,

US Industrial Production m/m, US FOMC Statement, US Philly Fed

Manufacturing Index, US Unemployment Claims, US JOLTS Job



14th-MAR-2016


R1 340.4 R2 348 R3 362

S1 331.15 S2 323.55 S3 317.45

MCX COPPER Daily Chart COPPER Commentary

Weekly View

Medium term View

MCX ALUMINIUM Daily Chart ALUMINIUM Commentary

Fundamental News: Base metals ended the week in positive

territory on the LME and are now awaiting Chinese data over the

weekend for fresh direction.

Technical Outlook: Aluminum has witnessed a positive rally until

close below 104.3 range. So, go long above 105.3 with TGT of

106.8 & 108.5 keep SL at 104. Go short near 108.5 with TGT of

107 & 104.8 keep SL of 110.5.





US Industrial Production m/m, US FOMC Statement, US Philly Fed

Manufacturing Index, US Unemployment Claims, US JOLTS Job


Weekly View

Medium term View

R1 106.8 R2 108.5 R3 109.55

S1 104.3 S2 102.15 S3 99.95

5

Technical Outlook: Lead has witnessed a range bound trade. So,

go long near 121.8 with TGT of 123 & 128.25 and keep SL of

119.5.




Building Permits, US Housing Starts, US Industrial Production m/

m, US FOMC Statement, US Philly Fed Manufacturing Index, US

Unemployment Claims, US JOLTS Job Openings.


14th-MAR-2016


MCX LEAD Daily Chart

LEAD Commentary

Weekly View

Medium term View

MCX ZINC Daily Chart ZINC Commentary

Technical Outlook: Zinc has witnessed a range bound trade. So,

go sell below 117 with TGT of 115 & 113.85 and SL of 119.9.





US Industrial Production m/m, US FOMC Statement.

Weekly View

Medium term View

R1 126.4 R2 128.25 R3 135.1

S1 121.7 S2 118.05 S3 115.1

R1 123 R2 125.5 R3 128

S1 117.9 S2 113.5 S3 110.55

MCX NICKEL Daily Chart NICKEL Commentary

Technical Outlook: Nickel has witnessed a range bound trade. So,

go short below 588 with TGT 579.5 & 565.5 and keep SL of 610.



Average Earnings Index 3m/y, GBP Claimant Count Change.

Weekly View

Medium term View

R1 616 R2 631 R3 656

S1 579.5 S2 565.5 S3 548.3


Weekly MCX COMMODITY CHANGE

ECONOMIC CALENDER

Indices Close Change %

GOLD 29500 -266 -0.89

SILVER 37610 -192 -0.51

CRUDE OIL 2595 190 7.90

NATURAL GAS 123.3 11.3 10.09

COPPER 334.5 -4.7 -1.39

ALUMINIUM 104.7 -1.9 -1.78

LEAD 124.05 -1.2 -0.96

ZINC 120.95 -2.3 -1.87

NICKEL 588.7 -38 -6.06

Country Economic Event Forecast Previous Date &Time

JAPAN Current Account 0.23T -0.78T 9th June (5.20 AM)

JAPAN Final GDP q/q 1.4% 1.5% 9th June (5.20 AM)

CANADA Housing Starts 185K 195K 9th June (5.45 PM)

AUD RBA Gov Stevens Speaks - - 9th June (9.00 PM)

GBP BRC Retail Sales Monitor y/y - 4.2% 10th June (4.31 AM)

JAPAN Tertiary Industry Activity m/m -3.3% 2.4% 10th June (5.20 AM)

AUD Home Loans m/m 0.3% -0.9% 10th June (7.00 AM)

CHINA CPI y/y 2.4% 1.8% 10th June (7.00 AM)

CHINA PPI y/y -1.5% -2.0% 10th June (7.00 AM)

EUR French Industrial Production m/m 0.3% -0.7% 10th June (12.15 PM)

CHINA New Loans 750B 775B 10th — 14th June

GBP Manufacturing Production m/m 0.4% 0.5% 10th June (2.00 PM)


14th-MAR-2016

Source : Forex Factory


ECONOMIC CALENDER


14th-MAR-2016

Source : Forex Factory



14th-MAR-2016

RESEARCHED & PREPARED BY

B.KESAVAMOORTHY— SENIOR RESEARCH MANAGER

EMAIL ID: [email protected]

CONTACT NO: 0422-4700813

LAL’S

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