Download - 12th July 2021 - skybroking.com
1 Commodity Weekly Report
12th July 2021
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Fundamental News: Gold was already starting to see central bank
demand improve and if ETF demand turns positive again; bullion
bulls could become more aggressive with their bets.
Technical Outlook: Gold may expect high volatility trade any drop
seen to utilize a buying opportunity. So, Buy above 48020 with
TGT 48218 & 48464 and maintain SL 47821 or else Short below
47622 with TGT 47424 & 47178 and keep SL 47821.
Weekly Commodity Report
30th-DEC-2019
Commodity Weekly Report
R1 48218 R2 48464 R3 48861
S1 47424 S2 47178 S3 46781
MCX GOLD Daily Chart
GOLD Commentary
Weekly View
Medium term View
MCX SILVER Daily Chart SILVER Commentary
Fundamental News: Precious Metals on Friday was fueled by a
weaker dollar. Both the U.S. currency and yields work in contrary
mode to the precious metal.
Technical Outlook: Silver may expect a high volatility trade and
any drop seen to utilize a buying opportunity. Go long above
70025 with TGT of 70529 & 71127 and maintain SL of 69561 or
else Sell near 69076 with TGT 68592 & 67994 and keep SL of
69561 level.
Weekly View
Medium term View
R1 70529 R2 71127 R3 72096
S1 68592 S2 67994 S3 67026
Strategy Corner: Buy MCXBULLDEX above 14788 TGT 14830 / 14881 SL 14746
Sell MCXBULLDEX below 14704 TGT 14662 / 14611 SL 14746
4 Commodity Weekly Report
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Fundamental News: Crude oil prices climbed higher Friday,
helped by signs of strong demand in the world’s largest consumer
even amid concerns about the spread of the delta variant of the
Covid-19 virus.
Technical Outlook: Until crude oil break above 5733 may expect it
drop up to 5271 levels. Go long above 5611 With TGT of 5695 &
5799 and keep Sl of 5527 or else short below 5443 with TGT of
5359 & 5255 and keep stop loss of 5527.
Weekly Commodity Report
21st-May-2018
Commodity Weekly Report
R1 5695 R2 5799 R3 5967
S1 5359 S2 5255 S3 5087
MCX CRUDE OIL Daily Chart CRUDE OIL Commentary
Weekly View
Medium term View
MCX NATURAL GAS Daily Chart NATURAL GAS Commentary
Fundamental News: The share of gas-on-gas pricing in the global
market rose by one percentage point in 2020 to reach 49.3%,
according to the latest pricing survey by the International Gas
Union published July 8.
Technical Outlook:
Natural gas may expect a momentum trade. Go long above 278
with TGT of 281.7 & 286.2 and keep stop loss of 274.3 Or else go
short below 270.6 with TGT of 266.9 & 262.4 and Keep SL of
274.3 level.
Weekly View
Medium term View
R1 281.7 R2 286.2 R3 293.6
S1 266.9 S2 262.4 S3 255
Weekly Commodity Report
30th-DEC-2019
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Fundamental News: Global demand of Base metals prices upbeat
after PBOC RRR cut.
Technical Outlook: Copper may expect a profit booking until close
above 742 levels. So, go long above 734.9 with TGT of 739.7 &
745.6 and maintain Stop loss of 730.1 or else go short below
725.35 with TGT 720.55 & 714.65 and keep sl of 730.1 level.
Weekly Commodity Report
21st-May-2018
Commodity Weekly Report
R1 739.7 R2 745.6 R3 755.15
S1 720.55 S2 714.65 S3 705.1
MCX COPPER Daily Chart
COPPER Commentary
Weekly View
Medium term View
MCX ALUMINIUM Daily Chart ALUMINIUM Commentary
Fundamental News: Aluminium stocks continue to fall.
Technical Outlook: Aluminum may expect a profit booking rally
until close above 200 ranges. So, go long above 199.85 with TGT
of 201.3 & 203.1 keep SL of 198.4 & Go short below 196.95 with
TGT 195.5 & 193.7 and keep Sl of 198.4.
Weekly View
Medium term View
R1 201.3 R2 203.1 R3 206
S1 195.5 S2 193.7 S3 190.8
Weekly Commodity Report
30th-DEC-2019
Strategy Corner: Buy MCXMETLDEX above 15325 TGT 15404 / 15502 SL 15245
Sell MCXMETLDEX below 15166 TGT 15086 / 14988 SL 15245
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Fundamental News: The supply of lead concentrate and lead-acid
battery scrap remained tight, and TCs continued to drop in July.
Cost support of lead prices kept rising. Spot market was
dominated by the wait-and-see mood amid sluggish trade, as
downstream users were reluctant to purchase at high prices.
Technical Outlook: Lead may expect a mixed trade. So, go long
above 180.35 with TGT of 181.15 & 182.15 and maintain Stop
loss of 179.6 or else go short below 178.8 with TGT 178 & 177
and keep sl of 179.6 level.
Weekly Commodity Report
21st-May-2018
Commodity Weekly Report
MCX LEAD Daily Chart
LEAD Commentary
Weekly View
Medium term View
MCX ZINC Daily Chart ZINC Commentary
Fundamental News: China's manufacturing industry PMI in June
was higher than expected, indicating that the manufacturing
industry was expanding.
Technical Outlook: Zinc may expect a profit booking higher levels.
So, go long above 242.15 with TGT of 243.55 & 245.25 and sl of
240.75 or else go short below 239.35 with TGT 237.95 & 236.25
and sl of 240.75 level.
Weekly View
Medium term View
R1 181.15 R2 182.15 R3 183.75
S1 178 S2 177 S3 175.4
R1 243.55 R2 245.25 R3 248.05
S1 237.95 S2 236.25 S3 233.45
MCX NICKEL Daily Chart NICKEL Commentary
Fundamental News: Improving prospects for stainless steel and
nickel markets, nickel hits 4-month high.
Technical Outlook: Nickel may expect a positive rally up to 1418.2
ranges from there profit booking expected up to 1265 levels by
positionally. So, go short below 1375 with TGT of 1364.2 &
1350.9 and sl of 1385.7
Weekly View
Medium term View
R1 1407 R2 1420.5 R3 1442
S1 1364.2 S2 1350.9 S3 1329.4
Weekly Commodity Report
30th-DEC-2019
8 Commodity Weekly Report
WEEKLY MCX COMMODITY CHANGE
ECONOMIC CALENDER
Weekly Commodity Report
21st-May-2018
Source : Forex Factory
Weekly Commodity Report
30th-DEC-2019
Indices Close Change %
GOLD 47923.00 638 1.35
SILVER 69297.00 -891 -1.27
CRUDE OIL 5554.00 -91 -1.61
NATURAL GAS 275.80 -1.7 -0.61
COPPER 731.75 9.6 1.33
ALUMINIUM 198.00 -2.5 -1.25
LEAD 179.85 -0.6 -0.33
ZINC 242.40 4.45 1.87
NICKEL 1404.30 32.1 2.34
MCXBULLDEX 14745.00 80 0.55
MCXMETLDEX 15358.00 231 1.53
9 Commodity Weekly Report
ECONOMIC CALENDER
Weekly Commodity Report
21st-May-2018
Source : Forex Factory
Weekly Commodity Report
30th-DEC-2019
10 Commodity Weekly Report
ECONOMIC CALENDER
Weekly Commodity Report
21st-May-2018
Source : Forex Factory
Weekly Commodity Report
30th-DEC-2019
11 Commodity Weekly Report
Weekly Commodity Report
21st-May-2018
RESEARCHED & PREPARED BY
RESEARCH DEPT
CONTACT NO: 0422-4700840
EMAIL ID: [email protected]
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Weekly Commodity Report
30th-DEC-2019