Mcx Technical Analysis daily report

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MCX Daily Report
09th Apr 2019
2019
www.moneymakerfinancial.com
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Money Maker Research & Investment Advisor Pvt. Ltd.
PRECIOUS METALS:
Bullion prices closed yesterday with sharp gains as dollar tumbles from its recent peak. Dollar index sagged
after New orders for U.S.-made goods fell modestly in February and shipments rose after four straight
monthly declines, but the manufacturing sector is slowing amid rising inventories. On the other side
German exports and imports both fell more than expected in February; data showed on Monday, in the
latest sign that Europe's largest economy is likely to post meagre growth in the first quarter amid
increased headwinds from abroad.
ENERGY:
Oil prices on Monday reached their highest since November as concerns over exports from war-torn Libya
stoked tightness in the market, with global supply already hit by OPEC-led production cuts and U.S.
sanctions on Iran and Venezuela. According to global news agencies, Libya is on the brink of a new war. As
per the recent market cues from Reuters sources, one of the key Russian officials to foster a supply pact
with OPEC, Kirill Dmitriev, signaled on Monday Russia wanted to raise oil output when it meets with OPEC
in June because of improving market conditions and falling stockpiles
BASE METALS:
Copper prices shoots-up as a apart of short covering activity. As U.S. declines from short term peak and
Crudeoil prices gained to multi months higher level, Gains in LME copper prompted shorts in Shanghai to
cover positions, and bolstered the most active SHFE May contract a high of 49,560 yuan/mt overnight.
While as per recent data new orders for US-made goods dipped in February, reflecting some weakness in
manufacturing.
MARKET WRAP

PIVOT LEVELS
SILVER-MAY
RESISTANCE2 38800
RESISTANCE-1 38400
SUPPORT-1 37600
SUPPORT-2 37100
CRUDE OIL-APR
RESISTANCE-2 4600
RESISTANCE-1 4550
SUPPORT-1 4450
SUPPORT-2 4400
COPPER-APR
RESISTANCE-2 463
RESISTANCE-1 458
SUPPORT-1 448
SUPPORT-2 443
GOLD-JUNE
RESISTANCE-2 32950
RESISTANCE-1 32600
SUPPORT-1 31850
SUPPORT-2 31500

TIME CURRENCY PARTICULAR FORECAST PREVIOUS
- USD No major data - -
Today’s major Economic Events

COPPER
RECOMMENDATION:
BUY COPPER APR ABOVE 457TARGET 462, 467 STOPLOSS 447
RECOMMENDATIONS

GOLD
RECOMMENDATION:
BUY GOLD JUNE ABOVE 32300 TARGET 32450, 32600 STOPLOSS 32000

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D I S C L A I M E R
VIVEK RANA
Digitally signed by VIVEK RANA
DN: cn=VIVEK RANA, o=MONEYMAKER
RESEARCH & INVESTMENT ADVISOR PVT LTD, ou,
email=info@moneymakerfinancial.com, c=IN
Date: 2019.04.09 10:41:32 +05'30'

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