Technical Levels for Metals and Energy 15 July 2014
Commodity Exchange-- Contract----- Trend--------- S2------- --S1-------- LTP--------- R1--------- R2
Bullions
Gold -------MCX ------Aug------------Down----27500----27600----27762----27850----28000
Spot----Gold----------------------------Sideways----1295----1299----1307----1311----1318
Gold----Hedge----NCDEX----July----Sideways----24920----25010----25158----25230----25370
Silver----MCX----Sept------------------Down----44300----44500----44912----45200----45500
Spot----Silver----------------------------Sideways----20.50----20.60----20.87----21.00----21.20
Silver----Hedge----NCDEX----Aug----Sideways----4050----4070----4108----4130----4160
Base Metal
LME----Copper------------------------Sideways----7050----7105----7154----7180----7230
Copper----MCX----Aug---------------Sideways----428----431----433.95----436----439
Zinc----MCX----July--------------------Sideways----137.50----136.50----137.80----138.50----139.50
Lead----MCX----July------------------Down----130.00----131.00----131.95----133.00----134.00
Aluminium----MCX----July------------Sideways----114.00----115.00----115.95----117.00----118.00
Nickel----MCX----July----------------Sideways----1140----1150----1158.5----1168----1175
Energy
Crude Oil----MCX----July--------------Down----5970----6010----6047----6090----6130
Crude Oil----NYMEX----Aug----------Down----99.60----100.20----100.91----101.60----102.30
Crude Oil----NCDEX----July------------Down----5990----6030----6076----6110----6200
Brent Crude Oil----MCX----July--------Down----6470----6510----6550----6590----6630
Brent Crude Oil----NYMEX----Aug----Down----105.50----106.20----106.82----107.50----108.10
Brent Crude Oil----NCDEX----July----Down----6350----6390----6433----6470----6510
Natural Gas----MCX----July-----------Down----245----247----249----251----253
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International Commodities
Overview
Bullion
Gold
Spot gold prices declined by more than 2 percent on Monday as receding fears over Portugal's banking sector and a gain in U.S. equities prompted investors to take profits after bullion's rally to 3-1/2 month highs last week.
Gold rallied to near $1,350 an ounce last Thursday after questions about the health of Portugal's top-listed bank sparked worry that a new euro zone banking crisis might be in the offing. Portuguese bond yields fell on Monday after the country's biggest bank took steps aimed at reassuring investors of its stability, calming peripheral debt markets after their first episode of contagion this year.
On the MCX, gold prices declined by 2.09 percent and taking cues from weak international markets and closed at Rs.27762/10gms.
Silver
Weakness in gold prices as Portugal fears receded led to a bout of selling as spot silver prices declined by 2.4 percent in yesterday’s session and closed at $20.9/oz. Decline in Nickel and Copper prices further exerted downside pressure on prices.
On the MCX, silver prices declined by 2.5 percent taking cues from weak international markets and closed at Rs.44912/kg.
Outlook Bullion
On an intraday basis, we expect gold and silver prices to trade negative continuing its decline from the previous trading session as investors put the banking fears from Portugal at the back seat. The Portuguese banks assurance to take steps to reassure investor’s stability builds in confidence in the economy that the contagion would not likely spread across the Euro-zone. The optimism about the US economy gains traction as the recent economic data sets from the country suggests that US is on a path of growth trajectory which in turn can exert downside pressure on the precious metals pack
On the MCX, gold and silver prices are expected to trade on negative note taking cues from weak international markets.
Energy
Crude Oil
WTI oil prices gained marginally by 0.1 percent while Brent crude oil prices declined by 1 percent as investors dump crude on receding fears of Portugal situation.
Renewed violence in Libya raises questions about the production from the nation. Meanwhile, protesters have shut down production at the eastern Libyan oil port of Brega, state firm National Oil Corp (NOC) said on Saturday. No timetable was disclosed for resuming operations at the 43,000-barrel-per-day facility. In Iraq, lawmakers struggled to break a political deadlock in forming a government to tackle the Islamist-led insurgency raging less than 50 miles (80 km) from Baghdad.
The market also kept an eye on talks in Vienna over Tehran's nuclear program. Iran's oil supplies have been restricted by sanctions for several years, but an agreement could lead to a softening, or lifting, of those limits. Negotiators have set a July 20 deadline for a deal, but diplomats say the two sides are deeply divided and assume the talks will be given another six months.
Natural Gas
U.S. natural gas futures closed nearly unchanged on Monday as forecasts for continued moderate weather and another expected large build in stockpiles calmed concerns over low inventory levels. Natural gas prices have declined steadily from $4.75 per mmBtu hit in mid-June and on Friday hit the lowest level since January, in part because inventories have grown more quickly than expected after a cold winter left low levels of gas in storage.
On the MCX, NG prices declined by 0.44 percent and closed at Rs.249/MMbtu
Outlook Energy
On an intraday basis, crude prices is expected to trade on a sideways note as the violence in Libya and political deadlock in Iraq raises concerns on the supply side. On the contrary, markets also keep an eye on Tehran nuclear programme; if sanctions are eased the crude markets will balance of the supplies from Iran acting as a negative factor.
On the MCX, crude prices are expected to trade sideways taking cues from sideways trade in international markets.
Base Metals
Base metals on the LME traded on a mixed note yesterday owing to mixed trend in LME inventories. Also, unfavorable economic data from Euro Zone acted as a negative factor.
While on the other hand, optimism regarding Chinese growth data gave a boost to base metals prices. Also, rise in risk appetite in the market sentiments after Portugal Bank Company’s fear receded, supported gains.
In the Indian markets, base metals traded in line with international trends.
Copper
LME Copper prices traded lower by 0.4 percent yesterday on the back of speculation that the rally in prices was excessive given recent gains in LME stocks. Also, negative industrial production data from Euro Zone coupled with gain of 0.6 percent in inventories exerted downside pressure on prices.
However, optimism ahead of China’s GDP data due on Wednesday along with upbeat global market sentiments restricted sharp fall in prices. The red metal touched an intra-day low of $7116/tonne before closing at $7128.3/tonne on Monday.
MCX Copper prices declined 0.6 percent and touched an intra-day low of Rs.433.5/kg before closing at Rs.434/kg in the last trading session.
Outlook Base Metals
We except LME Copper prices to trade lower on account of profit booking, diverging its recent positive run. Also, estimates of mixed economic data from the US and Euro Zone coupled with strength in the DX will act as a negative factor.
However, hopes of stability in Chinese GDP due to be released tomorrow will cushion sharp downside in prices.
MCX Copper prices will trade lower taking cues from weak international markets.
Important Events for Today
Indicator --------------------------------Country Time (IST) Actual Forecast Previous Impact
BRC Retail Sales Monitor y/y -----------UK 4:31am -0.8% - 0.5% Medium
Monetary Policy Statement------------- Japan Tentative - - - High
BOJ Press Conference----------------- Japan Tentative - - - High
New Loans ----------------------------China 15th -16th 1080B 950B 871B Medium
CPI y/y--------------------------------UK 2:00pm - 1.6% 1.5% High
PPI Input m/m-------------------------- UK 2:00pm - 0.2% -0.9% Medium
RPI y/y --------------------------------UK 2:00pm - 2.5% 2.4% Medium
German ZEW Economic Sentiment---- Euro 2:30pm - 28.9 29.8 High
ZEW Economic Sentiment--------------- Euro 2:30pm - 62.3 58.4 Medium
BOE Gov Carney Speaks---------------UK 2:30pm - - - High
Core Retail Sales m/m -----------------US 6:00pm - 0.5% 0.1% High
Retail Sales m/m------------------------ US 6:00pm - 0.6% 0.3% High
Empire State Manufacturing Index--------- US 6:00pm - 17.2 19.3 Medium
Import Prices m/m ----------------------US 6:00pm - 0.5% 0.1% Medium
Fed Chair Yellen Testifies --------------US 7:30pm - - - High
Business Inventories m/m ---------------US 7:30pm - 0.6% 0.6% Medium
( 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
Bullions
Gold -------MCX ------Aug------------Down----27500----27600----27762----27850----28000
Spot----Gold----------------------------Sideways----1295----1299----1307----1311----1318
Gold----Hedge----NCDEX----July----Sideways----24920----25010----25158----25230----25370
Silver----MCX----Sept------------------Down----44300----44500----44912----45200----45500
Spot----Silver----------------------------Sideways----20.50----20.60----20.87----21.00----21.20
Silver----Hedge----NCDEX----Aug----Sideways----4050----4070----4108----4130----4160
Base Metal
LME----Copper------------------------Sideways----7050----7105----7154----7180----7230
Copper----MCX----Aug---------------Sideways----428----431----433.95----436----439
Zinc----MCX----July--------------------Sideways----137.50----136.50----137.80----138.50----139.50
Lead----MCX----July------------------Down----130.00----131.00----131.95----133.00----134.00
Aluminium----MCX----July------------Sideways----114.00----115.00----115.95----117.00----118.00
Nickel----MCX----July----------------Sideways----1140----1150----1158.5----1168----1175
Energy
Crude Oil----MCX----July--------------Down----5970----6010----6047----6090----6130
Crude Oil----NYMEX----Aug----------Down----99.60----100.20----100.91----101.60----102.30
Crude Oil----NCDEX----July------------Down----5990----6030----6076----6110----6200
Brent Crude Oil----MCX----July--------Down----6470----6510----6550----6590----6630
Brent Crude Oil----NYMEX----Aug----Down----105.50----106.20----106.82----107.50----108.10
Brent Crude Oil----NCDEX----July----Down----6350----6390----6433----6470----6510
Natural Gas----MCX----July-----------Down----245----247----249----251----253
MCX lead free tips daily charts free Technical Levels 15 July, mcx lead daily charts free,
International Commodities
Overview
- India’s Wholesale Price Index (WPI) plunge to 5.43 percent in June.
- LME Copper prices fell yesterday owing to fears of excessive rally.
- Euro Zone Industrial Production declined by 1.1 percent in May.
- Gold prices plunged owing to easing of Portugal’s bank concerns.
- India’s Consumer Price Index (CPI) dropped to 7.31 percent in June.
Bullion
Gold
Spot gold prices declined by more than 2 percent on Monday as receding fears over Portugal's banking sector and a gain in U.S. equities prompted investors to take profits after bullion's rally to 3-1/2 month highs last week.
Gold rallied to near $1,350 an ounce last Thursday after questions about the health of Portugal's top-listed bank sparked worry that a new euro zone banking crisis might be in the offing. Portuguese bond yields fell on Monday after the country's biggest bank took steps aimed at reassuring investors of its stability, calming peripheral debt markets after their first episode of contagion this year.
On the MCX, gold prices declined by 2.09 percent and taking cues from weak international markets and closed at Rs.27762/10gms.
Silver
Weakness in gold prices as Portugal fears receded led to a bout of selling as spot silver prices declined by 2.4 percent in yesterday’s session and closed at $20.9/oz. Decline in Nickel and Copper prices further exerted downside pressure on prices.
On the MCX, silver prices declined by 2.5 percent taking cues from weak international markets and closed at Rs.44912/kg.
Outlook Bullion
On an intraday basis, we expect gold and silver prices to trade negative continuing its decline from the previous trading session as investors put the banking fears from Portugal at the back seat. The Portuguese banks assurance to take steps to reassure investor’s stability builds in confidence in the economy that the contagion would not likely spread across the Euro-zone. The optimism about the US economy gains traction as the recent economic data sets from the country suggests that US is on a path of growth trajectory which in turn can exert downside pressure on the precious metals pack
On the MCX, gold and silver prices are expected to trade on negative note taking cues from weak international markets.
Energy
Crude Oil
WTI oil prices gained marginally by 0.1 percent while Brent crude oil prices declined by 1 percent as investors dump crude on receding fears of Portugal situation.
Renewed violence in Libya raises questions about the production from the nation. Meanwhile, protesters have shut down production at the eastern Libyan oil port of Brega, state firm National Oil Corp (NOC) said on Saturday. No timetable was disclosed for resuming operations at the 43,000-barrel-per-day facility. In Iraq, lawmakers struggled to break a political deadlock in forming a government to tackle the Islamist-led insurgency raging less than 50 miles (80 km) from Baghdad.
The market also kept an eye on talks in Vienna over Tehran's nuclear program. Iran's oil supplies have been restricted by sanctions for several years, but an agreement could lead to a softening, or lifting, of those limits. Negotiators have set a July 20 deadline for a deal, but diplomats say the two sides are deeply divided and assume the talks will be given another six months.
Natural Gas
U.S. natural gas futures closed nearly unchanged on Monday as forecasts for continued moderate weather and another expected large build in stockpiles calmed concerns over low inventory levels. Natural gas prices have declined steadily from $4.75 per mmBtu hit in mid-June and on Friday hit the lowest level since January, in part because inventories have grown more quickly than expected after a cold winter left low levels of gas in storage.
On the MCX, NG prices declined by 0.44 percent and closed at Rs.249/MMbtu
Outlook Energy
On an intraday basis, crude prices is expected to trade on a sideways note as the violence in Libya and political deadlock in Iraq raises concerns on the supply side. On the contrary, markets also keep an eye on Tehran nuclear programme; if sanctions are eased the crude markets will balance of the supplies from Iran acting as a negative factor.
On the MCX, crude prices are expected to trade sideways taking cues from sideways trade in international markets.
Base Metals
Base metals on the LME traded on a mixed note yesterday owing to mixed trend in LME inventories. Also, unfavorable economic data from Euro Zone acted as a negative factor.
While on the other hand, optimism regarding Chinese growth data gave a boost to base metals prices. Also, rise in risk appetite in the market sentiments after Portugal Bank Company’s fear receded, supported gains.
In the Indian markets, base metals traded in line with international trends.
Copper
LME Copper prices traded lower by 0.4 percent yesterday on the back of speculation that the rally in prices was excessive given recent gains in LME stocks. Also, negative industrial production data from Euro Zone coupled with gain of 0.6 percent in inventories exerted downside pressure on prices.
However, optimism ahead of China’s GDP data due on Wednesday along with upbeat global market sentiments restricted sharp fall in prices. The red metal touched an intra-day low of $7116/tonne before closing at $7128.3/tonne on Monday.
MCX Copper prices declined 0.6 percent and touched an intra-day low of Rs.433.5/kg before closing at Rs.434/kg in the last trading session.
Outlook Base Metals
We except LME Copper prices to trade lower on account of profit booking, diverging its recent positive run. Also, estimates of mixed economic data from the US and Euro Zone coupled with strength in the DX will act as a negative factor.
However, hopes of stability in Chinese GDP due to be released tomorrow will cushion sharp downside in prices.
MCX Copper prices will trade lower taking cues from weak international markets.
Important Events for Today
Indicator --------------------------------Country Time (IST) Actual Forecast Previous Impact
BRC Retail Sales Monitor y/y -----------UK 4:31am -0.8% - 0.5% Medium
Monetary Policy Statement------------- Japan Tentative - - - High
BOJ Press Conference----------------- Japan Tentative - - - High
New Loans ----------------------------China 15th -16th 1080B 950B 871B Medium
CPI y/y--------------------------------UK 2:00pm - 1.6% 1.5% High
PPI Input m/m-------------------------- UK 2:00pm - 0.2% -0.9% Medium
RPI y/y --------------------------------UK 2:00pm - 2.5% 2.4% Medium
German ZEW Economic Sentiment---- Euro 2:30pm - 28.9 29.8 High
ZEW Economic Sentiment--------------- Euro 2:30pm - 62.3 58.4 Medium
BOE Gov Carney Speaks---------------UK 2:30pm - - - High
Core Retail Sales m/m -----------------US 6:00pm - 0.5% 0.1% High
Retail Sales m/m------------------------ US 6:00pm - 0.6% 0.3% High
Empire State Manufacturing Index--------- US 6:00pm - 17.2 19.3 Medium
Import Prices m/m ----------------------US 6:00pm - 0.5% 0.1% Medium
Fed Chair Yellen Testifies --------------US 7:30pm - - - High
Business Inventories m/m ---------------US 7:30pm - 0.6% 0.6% Medium
( For any personal query mail me at support@mamatainfotech.com or call me at +91 9932242442, 9932461166 )
