Commodity report base metal 28 9-19

1. COMMODITY
REPORT BASE METAL
28
September
2019

2. 1
BASE METAL REPORT
28 September 2019
COMMODITY REPORT BULLION -
GOLDFactors Influencing the Market
A lesser volume of 3,925 tonnes flowed out of global LME warehouses at the same time, while 325
tonnes were freshly cancelled. LME aluminium stocks were 914,725 tonnes on the day. Fresh inflows
of aluminium into London Metal Exchange-approved warehouses capped any gains in the light metal’s
three-month price at the afternoon close of trading on Friday September 27.
TECHNICALANALYSIS
(ALUMINIUM)
The last few sessions ended up in bearish trend along with some corrections inside the channel. The market is
expected to continue on the bearish momentum based on the current price action, once the same breaks below a
key support holding at 136. The downside rally could be testing all the way through 134-132 levels in the
upcoming sessions. Alternatively, if key support holds strong then the market might retest the same and turn
bullish. The upside rally could test up to 140 level. Key resistance holds at 140.
RESEARCH RECOMMENDATION
SELL BELOW 136 TARGET 134-132 STOP LOSS 137.50

3. 1
BASE METAL REPORT
28 September 2019
COMMODITY REPORT BULLION -
GOLDFactors Influencing the Market
Copper’s outright price on the LME closed at $5,722 per tonne - its lowest level since September 3 -
while volumes traded were light with just over 11,100 lots exchanged by the close. Yet copper’s price
decline comes against fresh cancelations of more than 65,000 tonnes this week, with on-warrant
material falling from 211,450 tonnes at the start of the week to its current level of 163,200 tonnes.
TECHNICALANALYSIS
(COPPER)
The last few sessions been in sideways trend along with some corrections inside the channel. The market
is expected to continue on bearish momentum based on the current price action, once the same breaks
below a key support holding at 440. The downside rally could be testing all the way through 435-430
levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might
retest the same and turn bullish. The upside rally could test up to 450 level. Key resistance holds at 450.
RESEARCH RECOMMENDATION
SELL BELOW 440 TARGET 435-430 STOP LOSS 444

4. 1
BASE METAL REPORT
28 September 2019
COMMODITY REPORT BULLION -
GOLDFactors Influencing the Market
The London Metal Exchange three-month lead price continued to rise over the day’s trading on
Wednesday September 25, closing up by 2.4% on the previous day at $2,107 per tonne. Market
analysts attribute the increase to prevailing supply tailwinds at a time when global demand for
material is forecast to grow.
TECHNICALANALYSIS
(LEAD)
The last few sessions ended up in sideways trend along with some corrections inside the channel. The
market is expected to continue on bearish momentum based on the current price action, once the same
breaks below a key support holding at 153.80. The downside rally could be testing all the way up to 152-
151 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might
retest the same and turn bullish once again. The upside rally could test up to 157 level. Key resistance
holds at 157.
RESEARCH RECOMMENDATION
BUY ABOVE 155 TARGET 157 STOP LOSS 153.80

5. 1
BASE METAL REPORT
28 September 2019
COMMODITY REPORT BULLION -
GOLDFactors Influencing the Market
The London Metal Exchange three-month nickel price climbed up by 0.6% during morning trading on
Friday September 27 to trade around $17,330 per tonne. Although the nickel price has consistently
waxed and waned over the week, it remains well supported above $17,000 per tonne despite a 1,134-
tonne inflow into the LME warehouse on the same day.
TECHNICALANALYSIS
(NICKEL)
The last few sessions been in sideways trend along with some corrections inside the channel. The market
is expected to continue on the bearish term based on the current price action, once the same breaks
below a key support holding at 1218. The downside rally could be testing all the way through 1200-1180
levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might
retest the same and turn bullish. The upside rally could test up to 1260 level. Key resistance holds at
1260.
RESEARCH RECOMMENDATION
SELL BELOW 1218 TARGET 1200-1180 STOP LOSS 1228

6. 1
BASE METAL REPORT
28 September 2019
COMMODITY REPORT BULLION -
GOLDFactors Influencing the Market
The three-month zinc price on the London Metal Exchange was lower at the close of
trading on Tuesday September 24, dipping below the $2,300-per-tonne support level
despite falling exchange stocks, while aluminium futures closed at their lowest level
since September 3.
TECHNICALANALYSIS
(ZINC)
The last few sessions ended up sideways in trend along with some corrections inside the channel. The
market is expected to continue on bullish momentum based on the current price action, once the same
breaks above a key resistance holding at 184. The upside rally could be testing all the way through 186-
188 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market
might retest the same and turn bearish once again. The downside rally could test up to 180 level. Key
support holds at 180.
RESEARCH RECOMMENDATION
SELL BELOW 183 TARGET 181-180 STOP LOSS 184.50

7. 3
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