2. NEWS RADAR
Comex gold futures ended lower on Friday, as the dollar strengthened
ahead of the G 20 meeting, which is expected to discuss “currency
wars” and single out Japan for aggressive monetary and fiscal policies
that have seen the yen drop 20 per cent. Soft physical demand from
China during its Lunar New Year holiday and gains in the dollar pushed
the precious metal down more than 3.7 per cent this week, its biggest
weekly decline since May. Gold prices have been under pressure in
recent months, as a resurgence in equity markets pushed investors
towards riskier assets such as stocks. Markets also took a note of
Blackrock advisors a fund related to billionaire George Soros trimmed
its gold holdings in SPDR gold trust by eight per cent, a quarterly
regulatory filing showed, further pressuring prices lower. Comex gold
futures moved lower in line with our expectations.
TRADING TIPS EXPERT OPINION
BUY GOLD AROUND 1613 GOLD LOOKS BULLISH
TGS 1619/1625 SL 1607 SILVER LOOKS BULLISH
BUY SILVER AROUND 30.60 CRUDE OIL LOOKS BEARISH
TGS 30.80/31.00 SL 30.40 COPPER LOOKS BULLISH
BUY COPPER AROUND NGAS LOOKS BEARISH
3.6900 TGS 3.7100/3.7300 LEAD LOOKS BEARISH
SL 3.6700 NICKEL LOOKS BEARISH
SELL CRUDE BELOW 95.45 ALUMINIUM LOOKS BULLISH
TGS 95.05/94.65 SL 95.85 ZINC LOOKS BEARISH
3. GOLD HOURLY CHART
S1 S2 R1 R2
1604 1598 1616 1622
GOLD LOOKS BULLISH BUY AROUND 1613.00
LEVEL IS SUGGESTED AND RECOMMENDED TO
BOOK PROFIT NEAR 1619.00 LEVEL AND
MAINTAINING SL OF 1607.00
4. SILVER HOURLY CHART
S1 S2 R1 R2
29.61 29.31 30.21 30.51
SILVER LOOKS BULLISH BUY AROUND 30.60 LEVEL
IS SUGGESTED AND RECOMMENDED TO BOOK
PROFIT NEAR 30.80 LEVEL AND MAINTAINING SL
OF 30.40
5. COPPER HOURLY CHART
S1 S2 R1 R2
3.6685 3.6485 3.7085 3.7285
COPPER LOOKS BULLISH BUY ABOVE 3.6900 LEVEL
IS SUGGESTED AND RECOMMENDED TO BOOK
PROFIT NEAR 3.7100 LEVEL AND MAINTAINING SL
OF 3.6700
0
6. CRUDE OIL HOURLY CHART
S1 S2 R1 R2
96.37 95.97 97.11 97.57
CRUDE LOOKS BEARISH SELL AROUND 95.45 LEVEL
IS SUGGESTED AND RECOMMENDED TO BOOK
PROFIT NEAR 95.05 LEVEL AND MAINTAINING SL
OF 95.85
7. MARKET STATISTICS
OPEN HIGH LOW CLOSE
GOLD 1634.29 1635.80 1597.73 1608.75
SILVER 30.37 30.45 29.67 29.80
CRUDE 97.32 97.45 95.20 95.93
COPPER 3.7368 3.7390 3.6830 3.6850
NGAS 3.164 3.189 3.121 3.157
ALUMINIUM 2151.26 2172.51 2147.88 2161.63
LEAD 2411.50 2448.63 2401.50 2442.38
NICKEL 18265.00 18378.00 18174.50 18329.50
ECONOMIC CALENDAR
DATE CURRENCY FORECAST PREVIOUS
Feb 19 EUR German ZEW Economic Sentiment 35.3 31.5
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