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1. 27-31 May 2019
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27-31 May 2019
COMMODITY WEEKLY REPORT

2. 27-31 May 2019
COMMODITIES PREVIOUS WEEKS MOVEMENT 20-24 May 2019)
MCX WEEK HIGH WEEK LOW
VALUE
CHANGED
% CHANGED
GOLD (JUNE) 31735 31232 503 1.59%
SILVER (JULY) 36740 36056 684 1.88%
CRUDE OIL (JULY) 4461 4001 460 10.37%
NATURAL GAS (MAY) 188.5 176.9 11.6 6.23%
COPPER ( JUNE) 425.4 410.6 14.8 3.48%
NICKEL ( MAY) 867.5 825.6 41.9 5.01%
LEAD ( MAY) 127.25 124.1 3.15 2.48%
ZINC ( MAY) 215 208.8 6.2 2.88%
ALUMINIUM ( MAY) 149 143.3 5.7 3.85%

3. 27-31 May 2019
FUNDAMENT VIEW:- Gold on track for weekly win after reasserting haven role Gold futures edged lower Friday but were on track
for a weekly win after seeing renewed haven demand as trade-war worries rose.Gold caught a flight-to-safety-inspired bid Thursday as
U.S. stocks fell sharply, with the decline blamed on rising U.S.-China tensions that investors now fear could turn into a prolonged trade bat-
tle. A weaker U.S. dollar also provided support, as did a fall in bond yields.Gold and other commodities priced in dollars can benefit from a
weaker greenback, making them less expensive to users of other currencies. Lower yields on bonds can be beneficial to assets like gold
that offer no yield by reducing the opportunity cost of holding them.
TECHNICAL VIEW:- MCX Gold last week showed strong bearish movement and test its major support level of 31200 but unable to sus-
tains below this level. For upcoming week it will remain continue with downward trend and also it can tries to break 31200 levels and be-
low this level 30900 will act as a next strong support. On higher side it has important resistance at 31750 as well as it can also takes some
recovery from lower to higher side and after that 32000 will be next resistance level.
GOLD (JUNE)
WEEKLY
R2 32047.00
R1 31856.00
Pivot 31544.00
S1 31353.00
S2 31041.00
WEEKLY
OPEN 31679
HIGH 31735
LOW 31232
CLOSE 31530
CHANGE 149
% CHANGE 0.47%
BUY GOLD ON DIPS 31000 TGT 31200 ,31450 SL BELOW 30800
GOLD SELL ON RISE 31800 TGT 31600 ,31250 SL ABOVE 33000

4. 27-31 May 2019
FUNDAMENTAL VIEW:- Silver Market May See A Boost If China Pulls Back Unlike its more radiant cousin silver has had a significant-
ly more lackluster performance over the past few years. After peaking around $50 an ounce back in 2011, just shy of the $50.35-an-ounce
intraday record hit in January 1980, the metal has been trading in a much more narrow range over the last few years, between roughly $14
to $20 an ounce.
TECHNICAL VIEW:- MCX Silver last week showed sideways to bearish movement and price test its psychological support i.e. 36000 lev-
els. For upcoming session if price trades below 36000 then again bearish bias will active towards next support of 35500 and if it takes
quick recovery from lower to higher side then this momentum can find resistance of its bearish resistance line i.e. 36900 levels and if price
manages above this level then we expect reversal trend up to next immediate resistance level of 37300.
WEEKLY
R2 37091.50
R1 36759.00
Pivot 36407.50
S1 36075.00
S2 35723.50
WEEKLYSILVER BUY ON DIPS 36500 TGT 37200,38 000 SL BELOW 35700
SILVER SELL ON RISE 38000 TGT 37300 , 36500 SL ABOVE 38800
SILVER (JULY)
OPEN 36450
HIGH 36740
LOW 36056
CLOSE 36384
CHANGE 66
% CHANGE 0.18%

5. 27-31 May 2019
FUNDAMENTAL VIEW:- Oil Rebounds but Looks at Biggest Weekly Loss Of 2019 Oil prices rose early on Friday, recovering from
Thursday’s plunge that sent both WTI and Brent to their lowest levels in nearly two months, but prices are still poised to record the largest
weekly decline of 2019 as rising U.S. crude inventories and fears of an economic slowdown have overshadowed signs of tightening global
supply in recent days. Prices recouped on Friday some of the hefty losses from the previous day, when both benchmarks plunged in their
worst one-day drop in six months.
TECHNICAL VIEW:- MCX Crude oil last week showed strong downside movement and also broke its bullish support line of 4300 as well as
next major support of 4200 levels. For upcoming trading session if price sustains below 4000 then it can continue with bearish trend to-
wards next support of 3900. On higher side, if price push for recovery then it can test important resistance of 4200 and above this level it
manages then it can find next resistance level of 4300 as well as trend may also change.
CRUDE OIL (JUNE)
WEEKLY
R2 4702.00
R1 4483.00
Pivot 4242.00
S1 4023.00
S2 3782.00
WEEKLY
OPEN 4435
HIGH 4461
LOW 4001
CLOSE 4071
CHANGE 364
% CHANGE 8.21%
BUY CRUDE OIL ON DIPS 4000 TGT 4100,4200 SL BELOW 3850
CRUDE OIL SELL ON RISE 4400 TGT 4300,4200 SL ABOVE 4550
WEEKLY WEEKLY

6. 27-31 May 2019
FUNDAMENTAL VIEW:- Codelco confident of maintaining robust copper output over next decade Codelco expects to maintain cur-
rent copper output at around 1.68 million tonnes per year over at least the next decade, it said, despite operational changes and sector
headwinds. Production will be slightly lower than it was in the past 10 years, during which it averaged 1.69 million tpy, the Chilean state-
owned copper producer said in its business and development plan on Thursday May 23. Still, its copper output averaged 1.59 million tpy in
the past decade
TECHNICAL VIEW:- MCX Copper last week broke its strong support of 420 and showed strong downward side movement but unable to
close below its next support level of its bullish support line i.e. 410 levels. For upcoming period we will keep bearish overview, if price
breach 410 levels and after that this downside movement can take price towards next immediate support of 400 and higher side it has re-
sistance at 425 and above this level 435 will act as a next resistance level as well as price takes recovery from lower to higher side.
COPPER (JUNE)
WEEKLY
R2 434.01
R1 427.83
Pivot 419.21
S1 413.03
S2 404.41
WEEKLY
OPEN 425.4
HIGH 425.4
LOW 410.6
CLOSE 415.45
CHANGE 9.95
%
CHANGE
2.34%
BUY COPPER ON DIPS 415 TGT 425,435 SL BELOW 400
COPPER SELL ON RISE 445 TGT 435,425 SL ABOVE 470

7. 27-31 May 2019
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