MCX gold and silver prices are expected to move lower in the coming trading sessions based on technical indicators. MCX gold is in a falling channel formation and trading below its 21-day moving average, suggesting bearish momentum. MCX silver is facing resistance at horizontal trend lines and trading below its 50-day moving average. Both RSI indicators are below key levels of 40 and 50 respectively, also pointing to downside potential. MCX copper prices may rise to 341 levels as it continues trading above its symmetrical triangle pattern and 50-day moving average, with RSI above 60. MCX crude oil is expected to fall to 2960 as it remains below horizontal resistance and 100-day moving average, while its daily RSI
1. Equities I Commodities I Currencies I Mutual Funds
Aaj Ka Trend
Technical View:
MCX Gold prices are trading in a falling channel formation on
hourly basis. On the other hand, MCX Gold prices have been
trading below its 21 HEMA which indicates negative
confirmation to the prices. Moreover, Momentum Indicator
RSI is trading below 40 levels on hourly time frame. For now
we expect prices should move lower towards 30500 levels in
the coming trading sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
Bullions
MCX Gold August Hourly Chart CMP: 30966
MCX Gold (Aug) Trend: Bearish
Price potential: 30500 Reversal:31070
MCX Silver Sept Hourly Chart CMP: 47527
Technical View:
MCX Silver prices are facing horizontal trend line resistance on
hourly time frame. On the other hand, MCX Silver prices have
been trading below its 50 HEMA which indicates negative
confirmation to the prices. Furthermore, COMEX Silver prices
has been trading below is 21 HEMA on hourly time frame.
Moreover, momentum indicator RSI is trading below 50 levels
on hourly chart. For now we expect prices to move lower
towards 46700 levels in few trading sessions.
MCX Silver (Sept) Trend: Bearish
Price potential: 46700 Reversal: 47950
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Gold 30678 30474 30017 30931 31135 31388 31845
Silver 47072 46704 46027 47381 47749 48058 48735
15th July’16
2. Equities I Commodities I Currencies I Mutual Funds
Technical View:
MCX Copper prices continue to trade above its Symmetrical
triangle formation on hourly chart. Furthermore, prices
have been trading above its 50 HEMA on hourly chart.
Moreover counter is trading above its super trend indicator
on hourly basis. On the other hand, momentum indicator
RSI is trading above 60 levels on hourly chart. For now we
expect prices to move higher towards 341 levels in coming
trading sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
MCX Copper Aug hourly Chart CMP: 333.50
MCX Copper (Aug) Trend: Bullish
Price potential: 341 Reversal: 328
MCX Crude Oil July. Hourly Chart CMP: 3054
Technical View:
MCX Crude Oil prices continued to trade below its horizontal
trend line resistance on hourly time frame. NYMEX WTI
Crude Oil prices has faced trend line resistance at $45.79
levels on hourly chart. On the other hand prices have been
trading below its 100 HEMA on MCX Crude Oil hourly chart.
Moreover, Momentum indicator RSI has shown Bearish
range shift on daily chart. For now we expect prices to move
lower towards 2960 levels in coming trading sessions.
MCX Crude Oil (July) Trend: Bearish
Price potential: 2960 Reversal: 3100
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Copper 332.0 330.7 327.3 334.0 335.3 337.4 340.7
Crude 3010 2983 2930 3036 3063 3089 3142
Base Metal
Energy
Aaj Ka Trend
15th July’16
3. Equities I Commodities I Currencies I Mutual FundsSEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
Other Base Metals & Energy
S1 S2 S3 Pivot R1 R2 R3 Trend
Copper 332.0 330.7 327.3 334.0 335.3 337.4 340.7
Aluminum 111.4 110.9 110.0 111.9 112.4 112.8 113.8
Lead 125.0 123.9 122.1 125.8 126.9 127.6 129.5
Nickel 685.0 677.7 661.1 694.3 701.6 710.9 727.5
Zinc 145.2 144.3 142.3 146.3 147.2 148.3 150.3
Natural Gas 180.0 178.4 174.0 182.8 184.4 187.2 191.6
Fundamental News:
Gold edged higher in Asia with investors keeping a sharp eye on central bank moves with the Bank of England
set to announce its latest moves Thursday and questions swirling whether the Bank of Japan may take new
easing steps.
Gold edged lower in European trade on Thursday, as market players looked ahead to the Bank of England's
monetary policy decision later in the session.
Gold tumbled to a two-week low in North American trade on Thursday ,extending overnight losses after the
Bank of England kept its benchmark interest rate unchanged.
Oil prices regained ground in European trade on Thursday, after plunging more than 4% in the prior session
after bearish U.S. inventory data heightened concerns about a global glut.
Oil prices pushed higher in North American trade on Thursday, as investors returned to the market to seek
cheap valuations after crude futures sank nearly 5% in the prior session amid ongoing concerns over a global
supply glut.
Oil prices rose about 1 percent on Thursday as short covering lifted crude futures hammered a day ago by
unusually weak U.S. demand for motor fuel during the traditionally busy summer driving season.
The United States challenged China's export duties on nine key metals and minerals on Wednesday, arguing
they violate Beijing's commitments to the World Trade Organization (WTO) and give an unfair advantage to
Chinese manufacturers.
U.S. natural gas futures edged higher in North America trade on Thursday, despite data showing that natural gas
supplies in storage in the U.S. rose more than expected last week.
Aaj Ka Trend
15th July’16
4. Equities I Commodities I Currencies I Mutual FundsSEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
International Market
Commodity Closing Price
Gold 1332.49
Silver 20.28
Crude Oil 45.16
Brent Crude Oil 46.87
Natural Gas 2.73
COMEX/NYMEX/ICE ( Precious Metals & Energy) Currency & Commodity Index
Currency (Spot) Current Price
USD / INR 66.91
Dollar Index 96.10
EUR / USD 1.1107
CRB Index* 190.09
Closing as on 14.07.16 *Closing as on 14.07.16
LME (Base Metals) ( $ per tones)
Commodity Closing Price
Copper 4941
Aluminum 1683
Zinc 2189
Lead 1897
Nickel 10360
SHFE (Base Metals) (Yuan per tones)
Commodity Closing Price
Copper 38390
Aluminum 12665
Zinc 16970
Lead 13170
Closing as on 14.07.16 Closing as on 14.07.16
LME INVENTORY DATA
Aaj Ka Trend
08-July-16 11-July-16 12-July-16 13-July-16 14-July-16
Aluminium -5775 -7075 -6050 -6050 -6475
Copper 2500 -625 12150 -1700 1875
Lead -125 -125 -125 -125 1400
Nickel -936 408 384 282 414
Zinc -575 -650 -125 -250 -125
15th July’16
5. Equities I Commodities I Currencies I Mutual Funds
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error in the information contained in this recommendation or any action taken on basis of this information. Technical analysis studies market psychology,
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SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
Aaj Ka Trend
15th July’16
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Amit Pathania
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DN: cn=Amit Pathania, o=Choice Equity Broking Pvt.
ltd, ou=Research Department,
email=amit.pathania@choiceindia.com, c=IN
Date: 2016.07.15 08:44:35 +05'30'