This document provides a daily summary of commodity market conditions and trading recommendations. It discusses recent price movements and levels of gold, crude oil, copper and other metals. It identifies support and resistance price levels. It also gives a buy recommendation for gold futures contracts above a specific price target. The document aims to help investors and traders make informed decisions about commodity market opportunities.

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Daily MCX News letter
18th Jun 2015
DAILY MCX News letter

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PRECIOUS METALS:
Gold appeal tarnished for second straight day as prices failed to seek some more
support from day traders on Wednesday. The prices ended the day at Rs 26880 per 10
grams on 17 June 2015 against Rs 26956 per 10 grams on 16 June 2015. Resistance for
Gold is towards Rs 27100 and Rs 27200. A support in Gold towards Rs 26800 is active.
Gold price tested a high of Rs 26920 per 10 grams and a low of Rs 26803 per 10 grams.
Open Interest for June contract was at on 8588 on 17 June 2015 against 8132 on 16 June
2015.
ENERGY
Crude oil prices again moved back in the session on Wednesday and ended at Rs 3846
against Rs 3903 a day before. Settling again in the range of Rs 3900-3600 Crude is
showing lower momentum. The gains above Re 3900 can bring more benefits for Crude
Oil but that has not been the case in more than a week, similar is situation for losses. On
Wednesday, Crude Oil tested a high of Rs 3989 and a low of Rs 3835 per barrel. Volumes
were at 8588 lots on 16 June 2015.
BASE METALS
MCX Copper June expiry contract declined for third straight day on Wednesday. Prices
moved below Rs 374 per kg breaking a series of support that were formidable in last one
week. Copper ended the day at Rs 370.40 on 17 June 2015 against 371.45 per kg on 16
June 2015. On Thursday trading gains are expected to get resisted at Rs 374 and 378 per
kg. Meanwhile support for Copper is at Rs 367 and 365 per kg. On Wednesday, the low
for Copper was at Rs 369.25 per kg, and a high of Rs 373.8 per kg was noted. Open
interest was at 18369 on 17 June 2015 against 17929 on 16 June 2015.
MARKET WRAP

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PIVOT POINT
GOLD
SUPPORT1: 26720
SUPPORT2: 26480
RESISTANCE1: 27060
RESISTANCE2: 27290
SILVER
SUPPORT1: 36250
SUPPORT2: 35600
RESISTANCE1: 37400
RESISTANCE2: 38050
CRUDE OIL
SUPPORT1: 3740
SUPPORT2:3695
RESISTANCE1: 3835
RESISTANCE2: 3885
COPPER
SUPPORT1: 367
SUPPORT2: 364
RESISTANCE1: 374.5
RESISTANCE2: 378.5

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BUY GOLD AUG ABOVE 26910 TARGETS 27010, 27110 STOPLOSS
26710.
PICK OF THE DAY

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