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Economic Data
Date Time Currency Economic Data Forecast Previous
Mon Aug 15
Empire State Manufacturing Index TIC Long-Term Purchases NAHB Housing Market Index Loan Officer Survey
0.5 30.4B
-3.8 24.2B 15
Tue Aug 16
Building Permits Housing Starts Import Prices m/m Capacity Utilization Rate Industrial Production m/m
Market
watch
Wed Aug 17
0.0% 0.2%
U.S. Crude oil futures ended lower on Friday and snapped two days of gains as a slump in consumer confidence reversed an early rally spurred by a jump in July retail sales. Crude futures also closed the week lower, down for the third straight week, as the consumer confidence data added to fears that the economy may slide back into recession after last week's U.S. credit downgrade. Prices rose early after data showed U.S. retail sales rose in July to the highest level since March. Oil markets tracked Wall Street, which rose on the retail sales data but fell back on the consumer pulse report, though in late trading share prices managed to eke out small gains. FUNDAMENTALS
Thu Aug 18
Core CPI m/m Unemployment Claims CPI m/m FOMC Member Dudley Speaks Existing Home Sales Philly Fed Manufacturing Index CB Leading Index m/m Natural Gas Storage
On the New York Mercantile Exchange, Crude for September delivery settled at $85.38 a barrel, edging down 34 cents, or 0.4 percent, after
Market
watch
Fri Aug 18
6:00pm
USD
London Copper prices ended a shade lower on Friday as global economic growth fears lingered and Chinese demand prospects remained unclear, but Copper in New York crept up with equities to end less than a penny higher from the previous session. With investors still worried about the global economy, losses stretched across the base metals complex, continuing the overwhelmingly bearish broader market tone over the past two weeks. The exception was tin, which rallied as much as 5 percent at one point during the session on worries about restricted supplies from Indonesia, the world's largest exporter. Copper posted its first back-to-back weekly decline since early June, with total weekly trading volumes in New York up near their lateFebruary record of 319,000 lots. Despite the global economic turmoil, Diego Hernandez, the chief executive of Chile's giant Copper miner Codelco, remained "optimistic" that Copper prices will remain at current levels until year-end, eyeing an uptick in second-half Chinese Copper cathode imports. Looking ahead into the coming week, metals are likely to remain tied to fluctuations in equities markets and could be affected by a stream of U.S. housing data. Short-term direction is likely to be muddied by thin trading during widespread holidays in most of mainland Europe on Monday. London Metal Exchange (LME)
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GOLD
SILVER
Weekly Chart
Expert
Observation
Expert
WEEKLY PIVOTS
Script R3 R2 R1 PP S1 S2 S3 Levels 2019 1883 1812 1747 1677 1611 1475
Observation
MARKET OVERVIEW
COMEX Gold is in an upward phase. Last week COMEX Gold was break the level of 1800$ an ounce but was not able to made a weekly close above that. In the coming week 1700 $ will act as a major support in COMEX Gold. If COMEX Gold sustains above 1720 $ an ounce then above 1785$ an ounce it can touch the level of 1815$ an ounce and if COMEX Gold sustains below 1725$ then it can go slightly down and test the level of 1698$ an ounce.
MARKET OVERVIEW
COMEX Silver is in an upward consolidation phase. Last week COMEX Silver was neither sustain on higher levels not nor at lower levels. For the upcoming week 3700$ and 3480$ are the crucial supports and 4040$ and 4220$ are crucial resistance in COMEX Silver. In MCX Silver 61000 and 63000 will act as major resistance and 56500 and 54000 will act as major supports.
WEEKLY PIVOTS
Script R3 R2 R1 PP S1 S2 S3 Levels 4559 4222 4066 3884 3729 3547 3209
STRATEGY
For the next week traders can use buy on lower level strategy if COMEX Gold sustains above 1720 $ an ounce, then above 1785$ it can test the level of 1815$ an ounce and above 1820$ it can further move upward. And in MCX Gold above 26100 it can test the level of 26400.Trade by keeping the strict stop losses. Major support for COMEX Gold in the coming week is 1680$ and 1640$. Major resistance for COMEX Gold in the coming week is 1820$ and 1860$ Major support in MCX Gold is 25350 and 24700 Major resistance in MCX Gold is 26400 and 26900
STRATEGY
Technically COMEX Silver is consolidating on charts. For the next week traders can use buy on lower level strategy if Silver sustains below the level of 3700$ an ounce, then it can test the level of 4120$ and 4220$ an ounce and below 3700$ it can move slightly downwards and test the level of 3600$ an ounce. And in MCX Silver sustains above 57800 it can test the level of 61000/62200 and below 56500 it can test the level of 55000. Trade by keeping the proper stop losses.
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Weekly Chart
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CRUDE
COPPER
Weekly Chart
Expert
Observation
Expert
WEEKLY PIVOTS
Script R3 R2 R1 PP S1 S2 S3 Levels 106.14 94.48 89.93 82.82 78.27 71.16 59.50
Observation
MARKET OVERVIEW
NYMEX Crude is in consolidation phase. Last week Crude oil was neither sustaining at lower level nor at higher levels. For the coming week 75$ and 70$ will act as major supports and 101$ and 104.50$ a barrel will be a major resistance in NYMEX Crude. In MCX Crude Oil major resistance is found at 4250 and 4450 and major supports will be 3690 and 3500.
MARKET OVERVIEW
Copper is in a consolidation phase and traders should use the strategy of buy on lower levels. Last week COMEX Copper was consolidating for most part of the week. If next week COMEX Copper sustains above the level of 390 then above the level of 403 Copper can test the level of 410. In MCX Copper sustains above 393 then it can test the level of 408/410 if it does not break the level of 390 on the downside.
WEEKLY PIVOTS
Script R3 R2 R1 PP S1 S2 S3 Levels 459 429 415 398 384 367 337
STRATEGY
For the next week traders can use buy on lower level strategy, if NYMEX Crude sustains above the level of 80 $ a barrel then can slightly come up and touch the level of 89.6 $ a barrel and in MCX if Crude sustains above 3770 then it can test the level of 4100 in this week. Trade by keeping the proper stop loss.
STRATEGY
For the upcoming week 421 and 436 will act as major resistance and 390 and 380 will act as major supports in COMEX Copper. For MCX Copper major resistance would be 417 and 433 and supports would be found at 390 and 380.
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Weekly Chart
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NATURAL GAS
USD / INR
Weekly Chart
Expert
Observation
Expert
WEEKLY PIVOTS
Script R3 R2 R1 PP S1 S2 S3 Levels 4.595 4.307 4.184 4.019 3.896 3.731 3.443
Observation
MARKET OVERVIEW
Natural Gas is in a consolidation phase and traders should use the strategy of buying on lower levels. Last week Natural Gas was up for most part of the week and made a close above 4$. If next week Natural Gas sustains above the level of 3.900 $ then above the level of 4.140$ Natural Gas can test the level of 4.230 $ and below 3.850 $ Natural Gas can go down and test the level of 3.720 $. In MCX, if Natural Gas sustains above 176 in the coming week then it can test the level of 190, if it does not break the level of 175 on the downside.
MARKET OVERVIEW
USD/INR is consolidating on charts so traders can use the strategy of buying on lower levels. If next week USD/INR sustains above the level of 44.8500 then above the level of 44.4500 USD/INR can test the level of 44.7800.
WEEKLY PIVOTS
Script R3 R2 R1 PP S1 S2 S3 Levels 46.8600 46.0000 45.6900 45.1400 44.8300 44.2800 43.4200
STRATEGY
For the upcoming week 43.8500 and 43.6000 will act as major supports and 46.0500 and 46.4500 will act as major resistance in USD/INR.
STRATEGY
For the upcoming week 3.800$ and 3.600$ will act as major supports and 4.500$ and 4.830$ will act as major resistance in US Natural Gas. For MCX Natural Gas major resistance would be 202 and 215, supports would be found at 170 and 162.
Weekly Chart
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GOLD SILVER COPPER CRUDE OIL NATURAL GAS LEAD ZINC NICKEL ALUMINUM
5 -OCT -11 5-SEP -11 30-AUG -11 19-AUG -11 26-AUG -11 30-AUG -11 30-AUG -11 30-AUG -11 30-AUG -11
GOLD SILVER COPPER CRUDE OIL NATURAL GAS NATURAL GAS LEAD NICKEL ALUMINIUM
RS. / 10GM. RS. / KG. RS. / KG. RS/QUINTAL RS. / BBL. RS./ MM BTU RS. / KG. RS. / KG. RS. / KG.
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Weekly Pivots
Closing Price
1742.6 3911.4 401.2 85.38 4.06 45.39
% Change
5.50 2.36 -2.55 -1.73 3.02 1.52
Scripts
GOLD SILVER COPPER CRUDE OIL NATURAL GAS LEAD ZINC NICKEL ALUMINUM
R3
29129.00 66095.33 445.35 4629.00 211.87 127.02 112.65 1112.17 118.48
R2
27372.00 62381.33 422.55 4214.00 196.87 116.32 104.60 1047.17 112.93
R1
26530.00 60549.67 412.40 4055.00 190.73 112.13 101.40 1012.63 110.67
PP
25615.00 58667.33 399.75 3799.00 181.87 105.62 96.55 982.17 107.38
S1
24773.00 56835.67 389.60 3640.00 175.73 101.43 93.35 947.63 105.12
S2
23858.00 54953.33 376.95 3384.00 166.87 94.92 88.50 917.17 101.83
S3
22101.00 51239.33 354.15 2969.00 151.87 84.22 80.45 852.17 96.28
Weekly Gainers
Commodity Expiry Date Closing Price 184.60 107.95 25688 % Change 4.83 4.35 4.21
Weekly Losers
Commodity NICKEL Expiry Date 30-AUG -11 Closing Price 978.10 % Change -1.21
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NATURAL GAS 26-AUG -11 LEAD GOLD 30-AUG -11 05-OCT -11
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