- COMEX gold is expected to decline to between $1663-1652 per ounce and near-term outlook remains sideways with further consolidation likely. Support levels are at $1655 and $1649, with resistance at $1667 and $1673.
- Trading tips recommend selling gold below $1659, silver below $31.20, copper below $3.7400, and crude oil below $95.25.
- Market statistics provide the opening, high, low, and closing prices for gold, silver, crude oil, copper, natural gas, aluminum, lead, and nickel futures on the day of the report.
- The economic calendar lists upcoming forecasts and previous data for UK CPI
2. NEWS RADAR
COMEX Gold is expected to decline towards USD 1663-1652 levels.
COMEX Gold prices remains unsettled after a bout volatile trading
between $1652 to $1686 levels. Nearterm outlook remains sideways
and some more consolidation could be seen first. However, any rise will
capped at falling channel resistance of $1686/oz levels and bring some
selling pressure from the same. Downside targets would be around
$1663 then 1652 levels, on a flip below the same will intact further
bearishness.
MCX Feb Gold; a "spinning top" chart pattern on daily charts also
suggesting some pull backs in the counter, one can utilize the
opportunity to create fresh shorts at higher levels.
TRADING TIPS EXPERT OPINION
SELL GOLD BELOW 1659 GOLD LOOKS BEARISH
TGS 1653/1647 SL 1665 SILVER LOOKS BEARISH
SELL SILVER BELOW 31.20 CRUDE OIL LOOKS BEARISH
TGS 31.00/30.80 SL 31.40 COPPER LOOKS BEARISH
SELL COPPER BELOW NGAS LOOKS BEARISH
3.7400 TGS 3.7200/3.7000 LEAD LOOKS BEARISH
SL 3.7600 NICKEL LOOKS BEARISH
SELL CRUDE BELOW 95.25 ALUMINIUM LOOKS BULLISH
TGS 94.85/94.45 SL 95.65 ZINC LOOKS BULLISH
3. GOLD HOURLY CHART
S1 S2 R1 R2
1655 1649 1667 1673
GOLD LOOKS BEARISH SELL AROUND 1659.00
LEVEL IS SUGGESTED AND RECOMMENDED TO
BOOK PROFIT NEAR 1653.00 LEVEL AND
MAINTAINING SL OF 1665.00
4. SILVER HOURLY CHART
S1 S2 R1 R2
31.00 30.70 31.60 31.90
SILVER LOOKS BEARISH SELL AROUND 31.20 LEVEL
IS SUGGESTED AND RECOMMENDED TO BOOK
PROFIT NEAR 31.00 LEVEL AND MAINTAINING SL
OF 31.40
5. COPPER HOURLY CHART
S1 S2 R1 R2
3.7290 3.7090 3.7690 3.7800
COPPER LOOKS BEARISH BUY AROUND 3.7400
LEVEL IS SUGGESTED AND RECOMMENDED TO
BOOK PROFIT NEAR 3.7200 LEVEL AND
MAINTAINING SL OF 3.7600
0
6. CRUDE OIL HOURLY CHART
S1 S2 R1 R2
95.00 94.60 95.80 96.20
CRUDE LOOKS BEARISH BUY AROUND 95.25 LEVEL
IS SUGGESTED AND RECOMMENDED TO BOOK
PROFIT NEAR 94.85 LEVEL AND MAINTAINING SL
OF 95.65
7. MARKET STATISTICS
OPEN HIGH LOW CLOSE
GOLD 1667.07 1669.35 1659.31 1660.12
SILVER 31.43 31.51 31.20 31.23
CRUDE 95.77 96.89 95.35 95.37
COPPER 3.7535 3.7610 3.7483 3.7505
NGAS 3.255 3.260 3.238 3.249
ALUMINIUM 2122.63 2125.13 2114.26 2124.51
LEAD 2424.75 2431.25 2412.13 2418.25
NICKEL 18325.00 18371.50 18298.00 18331.00
ECONOMIC CALENDAR
DATE CURRENCY FORECAST PREVIOUS
Feb 12 GBP CPI y/y 2.8% 2.7%
Feb 12 GBP BOE Inflation Letter
Feb 12 EUR ECB President Draghi Speaks
8. Disclaimer
The information and views in this report, our website & all the service we provide are believed to be
reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the
right to choose the product/s that suits them the most.
Sincere efforts have been made to present the right investment perspective. The information contained
herein is based on analysis and up on sources that we consider reliable.
This material is for personal information and based upon it & takes no responsibility
The information given herein should be treated as only factor, while making investment decision. The
report does not provide individually tailor-made investment advice. Epic research recommends that
investors independently evaluate particular investments and strategies, and encourages investors to
seek the advice of a financial adviser. Epic research shall not be responsible for any transaction
conducted based on the information given in this report, which is in violation of rules and regulations of
NSE and BSE.
The share price projections shown are not necessarily indicative of future price performance. The
information herein, together with all estimates and forecasts, can change without notice. Analyst or any
person related to epic research might be holding positions in the stocks recommended. It is understood
that anyone who is browsing through the site has done so at his free will and does not read any views
expressed as a recommendation for which either the site or its owners or anyone can be held
responsible for . Any surfing and reading of the information is the acceptance of this disclaimer.
All Rights Reserved.
Investment in equity & bullion market has its own risks.
We, however, do not vouch for the accuracy or the completeness thereof. we are not responsible for
any loss incurred whatsoever for any financial profits or loss which may arise from the
recommendations above epic research does not purport to be an invitation or an offer to buy or sell any
financial instrument. Our Clients (Paid Or Unpaid), Any third party or anyone else have no rights to
forward or share our calls or SMS or Report or Any Information Provided by us to/with anyone which is
received directly or indirectly by them. If found so then Serious Legal Actions can be taken.