LME Inventory Data 28.09.2012
| Metal | Change from previous day |
| Aluminium | -8400 |
| Copper | -675 |
| Lead | -2950 |
| Nickel | 324 |
| Tin | 100 |
| Zinc | 8075 |
Intraday Outlook
Bullion:
Gold: Gold enticed by the
bargain hunters and fortified by the poor economic health, ticked new life high
in Euro and Swiss Franc amid twin fears of currency debasement and heightened
inflation expectation. Investors grabbed the opportunity of keeping gold in
portfolio whenever it took slight dip. This zeal would have stirred the Asian
investors who have carried forward the same and thereby not letting the metal
to come down at the early Globex. Asian
shares as well crawled back propelled by the developments from Europe with Euro
showing strength. Going ahead, we expect gold to extend its rally after Chinese
firm Zhongrun Resources Investment Corp has granted a premium buy of 42% stake
in Noble Mineral Resources Ltd for AUD85 million ($88 million), sending shares
of the Australian gold miner soaring 25%. Recent M&A activities from China
would have been a clear indication of augmented gold demand. From the economic
data front, the US consumer spending is likely to fall while Michigan
confidence may also remain weak. These all indicate a weaker dollar. Euro is
likely to stay firm today which will also be supporting gold to bid high. Said so,
we recommend staying long for the metal from lower levels.
Silver: Silver futures
prices have also continued to extend the rally at the early Globex followed
from the cheering Spanish austerity and a stronger Euro. Going ahead we expect
silver too to remain strong for the day. As discussed in gold’s outlook, the US
personal spending and income is likely to remain at a weaker note especially
after poor GDP numbers and hence silver may draw refuge buying. We therefore
recommend staying long for the metal from lower level.
Energy:
Crude Oil: Oil futures prices are trading above $92/bbl with gain
of more than 0.20 percent from yesterday’s closing. Fall in Japan Industrial
production in the last month reported today morning , might be limiting gains
on concern of declining demand from third largest energy consumer. Most of the
Asain equities have rebounded which might be adding some positive cues other
than Iran Premium. Continuous oppose from Israel on Iran to stop the nuclear
program is creating concern of military strike between two nations, which is
creating premium on oil futures on concern of supply disturbances. There is 50
percent chance of tropical cyclone formation near to PADD V region, which may
create some concern of supply disturbances and may add some points on higher
side. Ahead of Spain stress test result to be declared on today, Euro may
remain subdued which may limit gains oil futures. From economic data front, US
personal income and consumption are likely to fall and may create concern of
lower demand from largest oil consuming nation. Overall, we may expect oil
prices to lose its yesterday’s gain slowly throughout the day.Action Plan: We
may suggest remaining on selling side for the day from higher level.
COVERAGE OF PRE-US MARKET TRADING INCLUDING FUTURES INFORMATION FOR BULLION, BASE METALS AND ENERGY
Bullion
Gold:
Pit Session starts at 5.50 pm
International
Spot Gold has resistance at $1767 and a downside move till $1733 could be
possible. MCX October Gold has resistance at 31560 and a downside move till
`31090 could be possible. However, an upside break of this resistance could
take prices higher till $ 1775/31670 levels.
Silver:
Pit Session starts at 5.55 pm
International
Spot Silver has resistance at $34.50 and a downside move till $32.90 could be
possible. MCX December Silver has resistance at 63100 and a downside move till 61350
could be possible. However, an upside break of resistance could take prices
higher till $35.20/`63950 levels.
Energy
Crude
Oil: Pit Session starts at 7.30 pm
International
Spot Crude oil has resistance at $92.00 and a downside move till $89.00 could
be expected. MCX Sep Crude Oil has resistance at 4920 and downside move till 4795
could be possible. However, an upside break of this resistance could take
prices higher till $93.30/4980 level.
Natural
Gas: Pit Session starts at 7.30 pm
MCX October
Natural Gas has support at 164 levels and an upside move till 173 could be
expected. However, a downside break of support could take prices lower till 161
level.
LME INVENTORY DATA 27.09.2012
| Metal | Change from previous day |
| Aluminium | -7550 |
| Copper | -450 |
| Lead | -3525 |
| Nickel | -186 |
| Tin | Unchanged |
| Zinc | 8825 |
Intraday Outlook - 27.09.2012
Bullion: COMEX gold
futures came under pressure due to strong dollar against the euro and concerns
over the debt crisis in Euro zone. The downside in the metal was limited on
reports that central banks around the world are boosting their gold holdings to
diversify their foreign exchange reserves.
Energy: Crude oil
futures on MCX were trading lower tracking a similar movement in the overseas
market, where a firm dollar against the euro and expectation of a rise in the
US crude oil inventory weighed on prices. Crude oil is expected to trade with a
negative bias in the rest of session with the November contract on NYMEX seen
finding support at $89.85 and facing resistance at $91.53.
Metals: Base metals
on the MCX were trading lower tailing the fall in international prices, but a
weak rupee against the US dollar limited a sharp fall in domestic prices.
Meanwhile, on the London Metal Exchange, fears over a possible escalation of
the Eurozone debt crisis and a consequent weaker euro against the dollar pulled
down metal prices.
INTRADAY OUTLOOK
INTRADAY OUTLOOK
Bullions ⇒
Gold inched up today morning, recovering from a one-week low hit in the
previous session when the precious metal dipped together with other commodities
as weak German data fanned worries about global growth, giving the dollar a
boost. Still, the medium-to-long-term
price outlook remains bullish due to major central banks'
"open-ended" commitment to monetary stimulus. Gold enjoyed price
forecast upgrades and renewed interest from money managers and retail investors
through exchange-traded funds. Goldman Sachs made a bullish call for
commodities, with industrial and precious metals among its top picks.
Base Metals ⇒
Copper prices seen rebounding today morning, after London copper came
off a one-week low in the prior session, but gains are expected to be capped by
worries over the global economy and on caution ahead of next week's holiday in
top metals consumer China. The Shanghai Futures Exchange (ShFE) will be closed
from Sept. 29 to Oct. 7. For the mid-Autumn and Chinese National Day holidays and
it will temporarily hike trading margins for all its futures contracts from
Sept. 28 to control price volatility. Copper's fall came after data on German
business confidence were reported weaker than expected, and Spain continued its
public silence about an official bailout request. A weekend meeting also showed
French and German leaders at odds over plans to integrate Europe's rattled
banking system.
Energy ⇒
Nymex Crude-oil futures retreated
after several reports underscored sputtering economic growth in some of the
world's biggest oil consumers, raising fresh concerns about demand. Crude oil
has been especially volatile in recent weeks. Traders bought crude last week on
the hope that a resolution of the debt crisis in Europe will increase economic
activity and demand for oil. This weekend's argument between the leaders of
France and Germany has popped that hopeful bubble. Press reports out of Asia
indicate that growth in China is slowing down faster than previously thought.
Widespread protests over a territorial dispute with Japan have disrupted
production at many Japanese-owned factories in China while the ongoing
leadership transition has suffered a few bumps along the way which have
increased the overall level of uncertainty in China. This has added to negative
sentiment on oil.
LME Inventory Sep 24
| Metal | Change from previous day |
| Aluminium | -4900 |
| Copper | 475 |
| Lead | -2375 |
| Nickel | 1614 |
| Tin | -15 |
| Zinc | 525 |
20.09.2012 LME Inventory Data
| Metal | Change from previous day |
| Aluminium | -520 |
| Copper | 7775 |
| Lead | -2075 |
| Nickel | -60 |
| Tin | Unchanged |
| Zinc | 59725 |
LME Inventory for 18 Sept
Copper -2775,
Nickel -168 ,
Lead -2350,
Aluminum + 61025,
Zinc -1250,
Tin unchange
LME Inventory Data 13.09.2012 Time(1.40PM)
Inventory Data
| Metal | Change from previous day |
| Aluminium | -200 |
| Copper | 550 |
| Lead | -2575 |
| Nickel | 66 |
| Tin | 25 |
| Zinc | -2900 |
LME Inventories Data: September 12, 2012
Copper stocks +1175 MT to 215775 MT,
Aluminum Stock -8500 MT to 4854325 MT,
Nickel Stocks +6 MT to 120816 MT,
Zinc Stocks -3050 MT to 930050 MT,
Lead Stocks -2250 MT to 298400 MT.
IMPORTANT NEWS
HELLO VIEWERS,
TODAY ECB MEETING SO MARKET MAY BE SO MUCH VOLATILE LOW RISK TRADERS WAIT AND WATCH AND RISKY TRADERS TRADE 1 LOT ONLY WITH STRICTLY STOP-LOSS.
TODAY ECB MEETING SO MARKET MAY BE SO MUCH VOLATILE LOW RISK TRADERS WAIT AND WATCH AND RISKY TRADERS TRADE 1 LOT ONLY WITH STRICTLY STOP-LOSS.
03 / 8 / 2012
Pivot, Resistance and Supports
Silver:
Pivot : 58753
Support : 58123 57493 56863
Resistant : 59383 60013 60643
Gold:
Pivot : 31335
Support : 31265 31194 31124
Resistant : 31406 31476 31547
Crude :
Pivot : 5374
Support : 5360 5346 5332
Resistant : 5388 5402 5416
Natural gas :
Pivot : 156.30
Support : 155.95 155.60 155.20
Resistant : 156.65 157.00 157.35
Nickel :
Pivot : 895
Support : 892 890 887
Resistant : 898 901 904
Copper :
Pivot : 427.10
Support : 426.25 425.45 424.60
Resistant : 427.90 428.75 429.55
Zinc :
Pivot : 102.10
Support : 101.95 101.80 101.65
Resistant : 102.25 102.40 102.55
Lead
Pivot : 108.90
Support : 108.60 108.30 108.00
Resistant : 109.20 109.50 109.80
Silver:
Pivot : 58753
Support : 58123 57493 56863
Resistant : 59383 60013 60643
Gold:
Pivot : 31335
Support : 31265 31194 31124
Resistant : 31406 31476 31547
Crude :
Pivot : 5374
Support : 5360 5346 5332
Resistant : 5388 5402 5416
Natural gas :
Pivot : 156.30
Support : 155.95 155.60 155.20
Resistant : 156.65 157.00 157.35
Nickel :
Pivot : 895
Support : 892 890 887
Resistant : 898 901 904
Copper :
Pivot : 427.10
Support : 426.25 425.45 424.60
Resistant : 427.90 428.75 429.55
Zinc :
Pivot : 102.10
Support : 101.95 101.80 101.65
Resistant : 102.25 102.40 102.55
Lead
Pivot : 108.90
Support : 108.60 108.30 108.00
Resistant : 109.20 109.50 109.80
01.09.2012
| DATE | SCRIPT | PRE.HIGH | PRE.LOW | CLOSE | S3 | S2 | S1 | PP | R1 | R2 | R3 |
| PRECIOUS M | |||||||||||
| 01.09.2012 | Silver | 60440 | 58601 | 60324 | 57029.83 | 57949.33 | 58868.83 | 59788.33 | 60707.83 | 61627.33 | 62546.83 |
| 01.09.2012 | Gold | 31231 | 30656 | 31206 | 30168.5 | 30456 | 30743.5 | 31031 | 31318.5 | 31606 | 31893.5 |
| 01.09.2012 | Copper | 428.15 | 423 | 426.35 | 418.1083 | 420.6833 | 423.2583 | 425.8333 | 428.4083 | 430.9833 | 433.5583 |
| ENERGY | |||||||||||
| 01.09.2012 | Crude Oil | 5370 | 5278 | 5358 | 5197.333 | 5243.333 | 5289.333 | 5335.333 | 5381.333 | 5427.333 | 5473.333 |
| 01.09.2012 | Natural Ga | 156.3 | 151.6 | 155.5 | 147.4167 | 149.7667 | 152.1167 | 154.4667 | 156.8167 | 159.1667 | 161.5167 |
| BASE METAL | |||||||||||
| 01.09.2012 | Nickel | 903.9 | 887.4 | 893.9 | 870.3167 | 878.5667 | 886.8167 | 895.0667 | 903.3167 | 911.5667 | 919.8167 |
| 01.09.2012 | Lead | 109.25 | 107.25 | 108.8 | 105.4333 | 106.4333 | 107.4333 | 108.4333 | 109.4333 | 110.4333 | 111.4333 |
| 01.09.2012 | Zinc | 102.65 | 101 | 102 | 99.40833 | 100.2333 | 101.0583 | 101.8833 | 102.7083 | 103.5333 | 104.3583 |
| 01.09.2012 | Aluminium | 105.2 | 103.75 | 104.75 | 102.3917 | 103.1167 | 103.8417 | 104.5667 | 105.2917 | 106.0167 | 106.7417 |
Subscribe to:
Posts (Atom)