Daily commodity-report 16 -08-2013

MCX COMMODITY DAILY REPORT
EPIC Research Report
This Report contains all the study and strategy required by trader to
trade on MCX commodities. Refer to the chart attracted in the Report
to take proper Trading Decision.
Research Analyst: Prateek Gupta
Date: 16-August-2013

MCX Daily Newsletter (16-August-2013)
WWW.EPICRESEARCH.CO CALL: +917316642300
COMMODITY WRAP…..!!!!!
Base metals
LME base metals have stabilized, underpinned by reports
of better trade numbers from China and improving
economic activity in Europe. China’s exports grew 5.1%
during July, recovering from June's 3.1% fall.
Imports also showed a 10.9% jump. In Europe,
Recessionary conditions seem to be mitigating, whereby
Italy’s Q2 GDP contracted by meager 0.2% as compared
with a decline of 0.6% during the prior period. Meanwhile,
Germany’s factory orders during June grew at the highest
rate since the past eight Months.
The country’s Germany’s industrial production during
June also rose 2.4% from May. On production front,
Aluminum Producers have been facing margins pressure
for a quite long Time on account of low metal prices.
The global markets have been inundated with expanding
surplus and rampant cutbacks during the next few months
will not be a surprise.
Base metals are expected to trade firm during next week,
as macroeconomic developments from Europe and China
has exhibited some positive signals.
Reports of Chinese government planning to rationalize
production should also provide an element of support. The
regime has ordered various metal smelters to close
outdated capacity by the end of September and dismantle
them by the end of this year.
Precious metals
Precious metals reversed course, with gold prices once again
receding below the psychological level of US$1,300/oz. Silver
prices have also failed to sustain around US$20/oz. Positive
macroeconomic numbers from US and Europe has prompted
selling in the precious metals counter.
In addition, escalating expectations of US Federal Reserve
tapering the bond buying programme has weighed on the
pack. In this respect, Fed Bank of Dallas President Richard
Fisher stated that investors should not bank on the Fed to
persist with its US$85bn monthly bond purchases for an
indefinite period.
In the latest, Charles Evans, president of the Chicago Fed
has conveyed that US economic backdrop is improving, which
should allow the Federal Reserve to scale down the pace of its
asset purchases before this year end.
Gold prices should remain confined within the price range
of US$1,260-1,340/oz. Range bound trade will remain intact
During the course of next few weeks until the market focus
Shifts back to Federal Reserve meeting in September.

WEEKLY ECONOMIC CALENDAR

MCX BULLIONS DAILY TECHNICAL LEVELS
GOLD MCX HOURLY CANDLESTICK CHART
TRADING STRATEGY:
GOLD MCX is trading sideways and intermediate trend is up. Trading between range 28800-27200. USDINR is also USDINR trading near to all time highs so keep a close
watch on currency movements before taking any long or short Position.
Immedaite Resistance @29000 and Support @27700
1. Sell GOLD MCX Below 27650 TGT 27550/27450 SL 27750
2. Buy GOLD MCX Above 28920 TGT 29000/29100 SL 28820

MCX BULLIONS DAILY TECHNICAL LEVELS
SILVER MCX HOURLY CANDLESTICK CHART
TRADING STRATEGY:
SILVER MCX is trading nearresistance levels in international markets and any breakout would be a good buying opportunity. Keep A close watch on USDINR movements
while initiating any fresh position. Immediate Resistance @46700 and Support @45800
1. Sell SILVER MCX BeLow 45800 TGT 45500/45200 SL 46100
2. Buy SILVER MCX above 46700 TGT 47000/47300 SL 46400

MCX BASE METALS DAILY TECHNICAL LEVELS
COPPER MCX HOURLY CANDLESTICK CHART
TRADING STRATEGY:
COPPER MCX is seen a bull run in international markets and is trading in uptrend. Can head towards higher levels. Any correction would be buying opportunity.
Immediate Resistance @451 and Support @446
1. Sell COPPER MCX Below 445 TGT 442/438 SL 448
2. Buy COPPER MCX Above 451 TGT 454/459 SL 448

MCX ENERGY DAILY TECHNICAL LEVELS
CRUDEOIL MCX HOURLY CANDLESTICK CHART
TRADING STRATEGY:
CRUDEOIL MCX has faced some correction last week trading near to support levels and if sustians above support levels it may be best buying opportunity.
Immediate Resistance @6415 And Support @6190
1. Buy CRUDEOIL MCX above 6580 TGT 6620/6700 SL 6500
2. Sell CRUDEOIL MCX below 6450 TGT 6350/6250 SL 6500

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Daily commodity-report 16 -08-2013

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Daily commodity-report 16 -08-2013