Technical Levels for Metals and Energy 22 July 2014
Commodity Exchange-- Contract----- Trend--------- S2------- --S1-------- LTP--------- R1--------- R2
Bullion
Gold -------MCX ------Aug---------Sideways----27800----27950----28087----28200----28300
Spot----Gold--------------------------Up----1299----1306----1312----1317----1322
Gold----Hedge----NCDEX----July----Sideways----25120----25257----25381----25483----25573
Silver----MCX----Sept-----------------Sideways----44500----44800----45174----45500----45800
Spot----Silver-------------------------Sideways----20.60----20.75----20.92----21.07----21.21
Silver----Hedge----NCDEX----Aug----Sideways----4040----4068----4103----4128----4157
Base Metal
LME----Copper-------------------------Sideways----6890----6947----6989----7029----7062
Copper----MCX----Aug--------------Sideways----423----426----428.55----431----433
Zinc----MCX----July-------------------Sideways----139----140----141.25----142----143
Lead----MCX----July-----------------Sideways----131----132----132.70----133.70----134.70
Aluminium----MCX----July-----------Sideways----119.50----120.50----121.35----122----123
Nickel----MCX----July---------------Sideways----1115----1125----1135.6----1145----1155
Energy
Crude Oil----MCX----Aug-------------Up----6100----6150----6190----6230----6270
Crude Oil----NYMEX----Aug----------Up----103.10----103.90----104.65----105.30----106.00
Crude Oil----NCDEX----Aug----------Up----6120----6170----6210----6250----6330
Brent Crude Oil----MCX----Aug-------Up----6480----6530----6570----6610----6650
Brent Crude Oil----NYMEX----Aug----Up----106.20----107.00----107.70----108.30----109.00
Brent Crude Oil----NCDEX----Aug----Up----6430----6480----6529----6560----6600
Natural Gas----MCX----July-----------Down----228----230----232.2----235----237
International Commodities
Overview
Bullion
Gold
Spot gold prices gained around 0.1 percent and rose above $1,300 an ounce on Monday as U.S. equities slipped and political tensions intensified after the shooting down of a passenger plane in eastern Ukraine last week and incessant fighting in Gaza.
Bullion rebounded after last week's two-percent drop, as investors took profits after Thursday's strong rally when a Malaysian airliner over Ukraine was shot down and Israel launched a massive ground offensive into Gaza against Hamas militants.
In the Indian markets, gold prices rose by around 0.3 percent in the last session despite Rupee appreciation.
Silver
Silver prices in the international markets traded higher taking cues from strength in gold prices. Also, gains in the base metals apace added an upside to the white metal prices.
On the MCX, silver prices gained 0.5 percent taking cues from strong international markets and closed at Rs.45174/kg.
Outlook Gold Silver
On an intraday basis, we expect gold and silver prices to trade sideways today owing to outlook for higher U.S. borrowing costs amid optimism in the economy which will act as a negative factor for prices.
While on the other hand, safe haven demand fueled by tension in Ukraine and Gaza will support gains.
On the MCX, gold and silver prices are expected to trade sideways taking cues from international markets.
Energy
Crude Oil
Nymex crude prices jumped by more than 1 percent yesterday owing to geopolitical turmoil in Ukraine and the Middle East.
Also, intensified pressure after western leaders from the U.K., France and Germany have warned Russian President Vladimir Putin of increased sanctions by Tuesday if international investigators are not allowed full access to the crash site acted as a positive factor for prices.
Considering developments on the Iran front, Chinese customs data showed that Iranian oil imports in the first six months of 2014 were 630,000 barrels a day as the U.S. is trying to reach a new agreement with Iran over its nuclear program while still keeping pressure on Tehran. Last week, Iran agreed to new steps to contain its nuclear program in exchange for additional sanctions relief from the U.S. The two sides also extended negotiations for four more months.
On the domestic bourses, prices gained by 0.8 percent on Monday.
API Inventories Forecast
The American Petroleum Institute (API) is scheduled to release its weekly inventories today and US crude oil inventories are expected to decline by 2.8 million barrels for the week ending on 18th July 2014.
Gasoline stocks are expected to gain by 0.9 million barrels and distillate inventories are expected to rise by 2.4 million barrels for the same week.
Outlook Energy
On an intraday basis, we expect crude oil prices to trade on a positive note ahead of stockpile data that may signal the strength of fuel demand in the U.S., the world’s biggest oil consumer.
Also, ongoing geopolitical tensions in the Ukraine and Middle East will continue to act as a positive factor for prices.
On the MCX, crude prices are expected to trade on a positive note taking cues from strong international markets.
Base Metals
Base metals on the LME traded higher largely due to driven by CTAs (commodity trading advisors), or managed futures funds. Zinc and hit a near three-year high and aluminium touched a new 16-month peak, as supply constraints prompted expectations of further gains. Zinc prospects have been driven by a paucity of huge new mine projects just as behemoths like Century in Australia dry up whereas years of smelter cutbacks due to depressed prices have eroded supply just as global demand recovers, in part due to a revival in the U.S. and European auto sectors and robust demand in China for Aluminium.
Also, positive outlook for the US economy supported gains in the base metals space.
In the Indian markets, all the base metals traded on a positive note taking cues from international trends.
Copper
LME Copper prices gained 0.5 percent yesterday as the money managed positions continued to be positive for the fourth week in a row. However, sharp gains were capped owing to rise in inventories and concerns regarding the property sector in China exerted downside pressure on prices. The red metal closed at $7029/tonne in the last session.
MCX Copper prices rose by 0.6 percent and closed at Rs.428.6/kg on Monday.
Outlook Base Metals
We except LME Copper prices to trade sideways as weakness weakness in the DX coupled with rise in risk appetite in the market sentiments will act as a positive factor for prices.
While on the other hand, demand concerns in the biggest consumer, China will exert downside pressure on prices.
MCX Copper prices will trade sideways today taking cues from international markets.
Commodity face live mcx prices free
Important Events for Today
Indicator----------------- -------------Country Time (IST) Actual Forecast Previous Impact
Public Sector Net Borrowing---------- UK -----2:00pm ------------ 10.3B 11.5B Medium
CBI Industrial Order Expectations----- UK -----3:30pm----------------- - 9 11 Medium
Core CPI m/m------------------------- US ------6:00pm--------------- - 0.2% 0.3% High
CPI m/m------------------------------- US----- 6:00pm------------ - 0.3% 0.4% Medium
Existing Home Sales --------------------US -----7:30pm ----------- 4.98M 4.89M High
( For any personal query mail me at support@mamatainfotech.com or call me at +91 9932242442, 9932461166 )
Commodity Exchange-- Contract----- Trend--------- S2------- --S1-------- LTP--------- R1--------- R2
Bullion
Gold -------MCX ------Aug---------Sideways----27800----27950----28087----28200----28300
Spot----Gold--------------------------Up----1299----1306----1312----1317----1322
Gold----Hedge----NCDEX----July----Sideways----25120----25257----25381----25483----25573
Silver----MCX----Sept-----------------Sideways----44500----44800----45174----45500----45800
Spot----Silver-------------------------Sideways----20.60----20.75----20.92----21.07----21.21
Silver----Hedge----NCDEX----Aug----Sideways----4040----4068----4103----4128----4157
Base Metal
LME----Copper-------------------------Sideways----6890----6947----6989----7029----7062
Copper----MCX----Aug--------------Sideways----423----426----428.55----431----433
Zinc----MCX----July-------------------Sideways----139----140----141.25----142----143
Lead----MCX----July-----------------Sideways----131----132----132.70----133.70----134.70
Aluminium----MCX----July-----------Sideways----119.50----120.50----121.35----122----123
Nickel----MCX----July---------------Sideways----1115----1125----1135.6----1145----1155
Energy
Crude Oil----MCX----Aug-------------Up----6100----6150----6190----6230----6270
Crude Oil----NYMEX----Aug----------Up----103.10----103.90----104.65----105.30----106.00
Crude Oil----NCDEX----Aug----------Up----6120----6170----6210----6250----6330
Brent Crude Oil----MCX----Aug-------Up----6480----6530----6570----6610----6650
Brent Crude Oil----NYMEX----Aug----Up----106.20----107.00----107.70----108.30----109.00
Brent Crude Oil----NCDEX----Aug----Up----6430----6480----6529----6560----6600
Natural Gas----MCX----July-----------Down----228----230----232.2----235----237
International Commodities
Overview
- Indian Rupee appreciated around 0.1 percent in yesterday’s trade.
- API crude oil inventories expected to decline by 2.8 mn bbl – Reuters.
- China’s CB Leading Index increased by 1.3 percent in last month.
- Global Markets corrected in later part of the trade on Monday.
Bullion
Gold
Spot gold prices gained around 0.1 percent and rose above $1,300 an ounce on Monday as U.S. equities slipped and political tensions intensified after the shooting down of a passenger plane in eastern Ukraine last week and incessant fighting in Gaza.
Bullion rebounded after last week's two-percent drop, as investors took profits after Thursday's strong rally when a Malaysian airliner over Ukraine was shot down and Israel launched a massive ground offensive into Gaza against Hamas militants.
In the Indian markets, gold prices rose by around 0.3 percent in the last session despite Rupee appreciation.
Silver
Silver prices in the international markets traded higher taking cues from strength in gold prices. Also, gains in the base metals apace added an upside to the white metal prices.
On the MCX, silver prices gained 0.5 percent taking cues from strong international markets and closed at Rs.45174/kg.
Outlook Gold Silver
On an intraday basis, we expect gold and silver prices to trade sideways today owing to outlook for higher U.S. borrowing costs amid optimism in the economy which will act as a negative factor for prices.
While on the other hand, safe haven demand fueled by tension in Ukraine and Gaza will support gains.
On the MCX, gold and silver prices are expected to trade sideways taking cues from international markets.
Energy
Crude Oil
Nymex crude prices jumped by more than 1 percent yesterday owing to geopolitical turmoil in Ukraine and the Middle East.
Also, intensified pressure after western leaders from the U.K., France and Germany have warned Russian President Vladimir Putin of increased sanctions by Tuesday if international investigators are not allowed full access to the crash site acted as a positive factor for prices.
Considering developments on the Iran front, Chinese customs data showed that Iranian oil imports in the first six months of 2014 were 630,000 barrels a day as the U.S. is trying to reach a new agreement with Iran over its nuclear program while still keeping pressure on Tehran. Last week, Iran agreed to new steps to contain its nuclear program in exchange for additional sanctions relief from the U.S. The two sides also extended negotiations for four more months.
On the domestic bourses, prices gained by 0.8 percent on Monday.
API Inventories Forecast
The American Petroleum Institute (API) is scheduled to release its weekly inventories today and US crude oil inventories are expected to decline by 2.8 million barrels for the week ending on 18th July 2014.
Gasoline stocks are expected to gain by 0.9 million barrels and distillate inventories are expected to rise by 2.4 million barrels for the same week.
Outlook Energy
On an intraday basis, we expect crude oil prices to trade on a positive note ahead of stockpile data that may signal the strength of fuel demand in the U.S., the world’s biggest oil consumer.
Also, ongoing geopolitical tensions in the Ukraine and Middle East will continue to act as a positive factor for prices.
On the MCX, crude prices are expected to trade on a positive note taking cues from strong international markets.
Base Metals
Base metals on the LME traded higher largely due to driven by CTAs (commodity trading advisors), or managed futures funds. Zinc and hit a near three-year high and aluminium touched a new 16-month peak, as supply constraints prompted expectations of further gains. Zinc prospects have been driven by a paucity of huge new mine projects just as behemoths like Century in Australia dry up whereas years of smelter cutbacks due to depressed prices have eroded supply just as global demand recovers, in part due to a revival in the U.S. and European auto sectors and robust demand in China for Aluminium.
Also, positive outlook for the US economy supported gains in the base metals space.
In the Indian markets, all the base metals traded on a positive note taking cues from international trends.
Copper
LME Copper prices gained 0.5 percent yesterday as the money managed positions continued to be positive for the fourth week in a row. However, sharp gains were capped owing to rise in inventories and concerns regarding the property sector in China exerted downside pressure on prices. The red metal closed at $7029/tonne in the last session.
MCX Copper prices rose by 0.6 percent and closed at Rs.428.6/kg on Monday.
Outlook Base Metals
We except LME Copper prices to trade sideways as weakness weakness in the DX coupled with rise in risk appetite in the market sentiments will act as a positive factor for prices.
While on the other hand, demand concerns in the biggest consumer, China will exert downside pressure on prices.
MCX Copper prices will trade sideways today taking cues from international markets.
Commodity face live mcx prices free
Important Events for Today
Indicator----------------- -------------Country Time (IST) Actual Forecast Previous Impact
Public Sector Net Borrowing---------- UK -----2:00pm ------------ 10.3B 11.5B Medium
CBI Industrial Order Expectations----- UK -----3:30pm----------------- - 9 11 Medium
Core CPI m/m------------------------- US ------6:00pm--------------- - 0.2% 0.3% High
CPI m/m------------------------------- US----- 6:00pm------------ - 0.3% 0.4% Medium
Existing Home Sales --------------------US -----7:30pm ----------- 4.98M 4.89M High
( For any personal query mail me at support@mamatainfotech.com or call me at +91 9932242442, 9932461166 )
