Speculators Less Bearish on Sterling, Yen; Gold Net Longs at 1-Year HighGold prices fell as investors shrugged
off a rise in geopolitical uncertainty that followed after North Korea launched a missile over Japan last week while growing expectations
that the Federal Reserve will hike rates later this year kept the precious metal on track for a weekly loss. Gold futures for December deliv-
ery on the Comex division of the New York Mercantile Exchange fell by $2.91, or 0.22%, to $1,326.39 a troy ounce.
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Commodity weekly report 18 22 sept 2017
1. 18 Sept to 22 Sept
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18 to 22 Sep. 2017
Monday-Friday
COMMODITY WEEKLY REPORT
3. 18 Sept to 22 Sept
3
FUNDAMENTAL VIEW:- Speculators Less Bearish on Sterling, Yen; Gold Net Longs at 1-Year HighGold prices fell as investors shrugged
off a rise in geopolitical uncertainty that followed after North Korea launched a missile over Japan last week while growing expectations
that the Federal Reserve will hike rates later this year kept the precious metal on track for a weekly loss. Gold futures for December deliv-
ery on the Comex division of the New York Mercantile Exchange fell by $2.91, or 0.22%, to $1,326.39 a troy ounce.
TECHNICAL VIEW:- MCX Gold last week was in sideways to bearish trend, for upcoming week if its price break 50% retracement level
which is near to its major support level of 29600, then its price may drag down towards next support level of 29000. On upward side it is
taking resistance of 61.8% retracement which is near to its 30250 if its price hold above this level then it can give good upside movement
and test next resistance level of 30700.
GOLD (OCT)
WEEKLY
R3 30800
R2 30350
R1 30100
Pivot 29940
S1 29680
S2 29500
S3 29070
WEEKLY
OPEN 30200
HIGH 30200
LOW 29765
CLOSE 29860
CHANGE 480
%
CHANGE
1.61%
GOLD (OCT) LEVEL TGT-1 TGT-2 STOP LOSS
BUY IN RANGE 29860-940 30100 30350 29650
SELL BELOW 29650 29450 29050 29860
4. 18 Sept to 22 Sept
4
FUNDAMENTAL VIEW:- .The precious metal is currently trading at $17.65 around, relatively close to key support. Silver Futures has
been relatively volatile over the past few weeks, but despite the recent pullback from the high at $17. it could be getting set to rally again
Any further downside moves would need to surpass this level but downside risks are easing. The daily chart shows a relatively clear short
term, rising trend line, implying support in the coming weeks more.
TECHNICAL VIEW:- . MCX Silver last was moving under tight rang with negative biasness. For upcoming week if its price sustain below
38.02% retracement level which is near to its major support level of 40400 then it can drag down towards next support level of 39500. On
another side it has important resistance level of 41600 if its price manages to hold this level then it may move towards next resistance lev-
el of 42400 .
WEEKLY
R3 42750
R2 41900
R1 41350
Pivot 41050
S1 40500
S2 40150
S3 39300
WEEKLY
OPEN 41250
HIGH 41590
LOW 40731
CLOSE 40808
CHANGE 645
% CHANGE 1.58%
SILVER(DEC.) LEVEL TGT-1 TGT-2 STOP LOSS
BUY IN RANGE 40850-41000 41500 41900 40500
SELL BELOW 40500 40100 39300 41000
SILVER (DEC)
5. 18 Sept to 22 Sept
5
FUNDAMENTAL VIEW:- Crude oil prices were hovering near recent highs last week, as expectations for higher demand and news of a
decline in global supplies continued to lend support to the commodity. The U.S. West Texas Intermediate crude October contract was at
$49.84 a barrel by 06:30 a.m. ET (10:30 GMT), not far from Thursday's four-month peak of $50.49. Elsewhere, Brent oil for November de-
livery on the ICE Futures Exchange in London was at $55.48 a barrel, just off the previous sessions' five-month high of $55.98
TECHNICAL VIEW:- MCX Crude Oil last week was in has given resistance trend line break out and holds it upper level which indicate fur-
ther good upside movement. 3250 is major resistance if its price manages above this level then it can give more upside movement and test
next resistance level of 3370. On another side it has crucial support level of 3080 if its price sustains below this level then it may drag
down towards next support level of 2980.
CRUDE (SEPT)
WEEKLY
R3 3615
R2 3380
R1 3285
Pivot 3150
S1 3050
S2 2915
S3 2680
WEEKLY
OPEN 3060
HIGH 3243
LOW 3010
CLOSE 3192
CHANGE 21
% CHANGE 0.69%
CRUDE (OCT.) LEVEL TGT-1 TGT-2 STOP LOSS
BUY IN RANGE 3150-70 3270 3350 3050
SELL BELOW 3050 2920 2650 3170
6. 18 Sept to 22 Sept
6
FUNDAMENTAL VIEW:- Copper prices have fallen in two of the last three sessions, and some analysts foresee the potential for more tur-
bulence ahead for the commodity that hit three-year highs just a week ago. Some commodity watchers caution that bets by hedge funds
and other speculative investors are behind much of copper's rally, which could lead to a sharp pullback if more traders start taking their
chips off the table.
TECHNICAL VIEW:- MCX Copper last week was in continuously down trend after given trend line breakout. For upcoming week it may
continue its down trend. It has major support level of 415 if its price sustain below this level then it can give further good down side move-
ment and test next support level of 400. On upward side 430 is major resistance level if its price holds this level then we can expect trend
reversal and test next resistance level of 445.
COPPER (NOV)
WEEKLY
R3 462.50
R2 443.50
R1 431.50
Pivot 424.50
S1 412.50
S2 405.50
S3 386.50
WEEKLY
OPEN 432.55
HIGH 436.55
LOW 417.60
CLOSE 419.95
CHANGE -10.7
% CHANGE -2.42%
COPPER (NOV) LEVEL TGT-1 TGT-2 STOP LOSS
BUY IN RANGE 423-424 431 445 412
SELL BELOW 412 406 399 424
7. 18 Sept to 22 Sept
7
FUNDAMENTAL VIEW:- U.S. industrial output fell in August for the first time since January as Hurricane Harvey battered oil, gas and
chemical plants along the Gulf Coast and a cool summer sapped utility demand in the east, the Federal Reserve said last week. Overall in-
dustrial production fell 0.9 percent over the month after a July increase revised upward to 0.4 percent.
TECHNICAL VIEW:- Last week Natural gas hold strong support of 185.60 level, This week it was closed around 193.90 and this
week it was opened at 194.40 This is the main reason it was UP around 201 , and hence we can see it upwards. However, if it gives the
break out level of 201 , otherwise we can sell it for more downside till 199 if it gives the break out to more downward level.
NATURAL GAS (SEP)
WEEKLY
R3 220.50
R2 206.50
R1 200
Pivot 193
S1 186
S2 179
S3 165
WEEKLY
OPEN 187.10
HIGH 199.50
LOW 185.80
CLOSE 193.90
CHANGE -11.4
% CHANGE -5.79%
N.GAS(SEP.) LEVEL TGT-1 TGT-2 STOP LOSS
BUY IN RANGE 190-193 196 205 184
SELL BELOW 184 178 170 193
8. 18 Sept to 22 Sept
8
STATUS OF OUR LAST WEEKLY RECOMMENDATIONS
RECOMMENDATIONS PROFIT/LOSS STATUS
BUY GOLD IN RANGE 29600-TGT-650-30100-30600 SL BELOW-29200 0 NOT EXECUTED
SELL GOLD BELOW 29200 TGT-28850-28300 SL ABOVE 29650 0 NOT EXECUTED
BUY SILVER IN RANGE 40500, TGT40600-41300 -42000 SL BELOW-39800
42810 2ND TGT ALMOST 41927
SELL SILVER BELOW 39800 TGT- 39300-38500 SL ABOVE - 40600 0 NOT EXECUTED
BUY CRUDEOIL IN RANGE 2990-3000-TGT 3070-3150 SL BELOW 2930 0 NOT EXECUTED
SELL CRUDEOIL BELOW 2930 TGT -2850-2750 SL ABOVE-3000 0 NOT EXECUTED
BUY COPPER IN RANGE 437-440 TGT- 446-451 SL BELOW-430 14000 2ND TGT
SELL COPPER BELOW 430 TGT-423-410 SL ABOVE-440 0 NOT EXECUTED
BUY NATURALGAS IN RANGE 190-193 TGT-196-205 SL BELOW 184 7000 2ND TGT 195.60
SELL NATURALGAS BELOW 184 TGT-178-170 SL ABOVE-193 0 NOT EXECUTED
TOTAL PROFIT 63810
9. 18 Sept to 22 Sept
9
ECONOMIC CALENDER
Time Event Forecast Previous
Monday, September 18, 2017
11:00 Gold Index 64.20%
11:00 S&P 500 Index 51.80%
Tuesday, September 19, 2017
18:00 Export Price Index (MoM) (Aug) 0.20% 0.40%
18:00 Housing Starts (Aug) 1.175M 1.155M
18:00 Housing Starts (MoM) (Aug) -4.80%
18:00 Import Price Index (MoM) (Aug) 0.30% 0.10%
Wednesday, September 20, 2017
20:00 Crude Oil Inventories 5.888M
20:00 Cushing Crude Oil Inventories 1.023M
23:30 Fed Interest Rate Decision
Thursday, September 21, 2017
18:00 Initial Jobless Claims 300K 284K
18:00 Philly Fed Employment (Sep) 10.1
20:00 Natural Gas Storage 91B
Friday, September 22, 2017
19:15 Manufacturing PMI (Sep) 53 52.8
19:15 Services PMI (Sep) 56 56
10. 18 Sept to 22 Sept
10
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