Daily MCX Newsletter

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04- AUG.-2014
DAILY MCX NEWSLETTER
www.TheEquicom.com
09200009266

www.TheEquicom.com 09200009266

2

BULLION:
Gold prices edged higher on the back of weak Rupee. Spot Gold is slightly higher as market
participants are awaiting the US jobs reports for July, which is expected to indicate that the
recovery in the labour market is continuing.
Spot Gold - Key resistance for Spot gold is at $1293 and bias remains weak as long as held below
the same. Immediate support is $1278 and sustained break below could target $1267-1261.
Spot Silver - Strong intraday supports are now placed at $20.15-20.10 followed by 19.80 whereas
$20.75-20.80 will act as strong resistances. Breach on either side will give us further direction.
ENERGY:
Crude oil futures continue to decline amid signs of weaker fuel demand in the US. The CVR
Coffeyville refinery in US may be down for four weeks after a recent fire.
MCX Crude Oil - Some upside could be in Crude oil on back of short covering, but short term bias
remains weak as long as 6090 is held on upside. Intraday support is at 5955 and sustained break
below could target 5915-5880. Selling on rise is advisable, but our view could negate if it breaches
above 6090.

MCX Natural Gas traded with positive bias in the previous session and looks to continue the same
for the day. Key supports are placed at Rs.233 - 231.5 - 229 whereas resistance is at Rs.238.50-241.5.
BASE METAL:
Base metals are trading slightly lower on weak Euro zone manufacturing PMI which dipped to
51.8.
MCX Copper traded with positive bias in the previous session, but failed to breach above
recommended resistance of Rs.438-439 and closed at Rs.436.10. Supports are placed at
Rs.432.50 - 430 whereas resistance is pegged at Rs.438. Sustainable breach above resistance
will confirm positive move and could target Rs.442-444. Buying near supports is advisable.
MCX Lead - Key support for MCX Lead is at Rs.133.80 and buying is advisable as long as holds
above the same. Resistance is pegged at Rs.136.70 137.50.


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GOLD (5 AUG.)

SILVER (5 SEP.)

BULLION
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 44800, 45200
SUPPORT : - 44000, 43700
STRATEGY : - SELL ON HIGH

OUTLOOK:
RESISTANCE : - 28300, 28500
SUPPORT : - 28000, 27700


4

CRUDEOIL (19 AUG.)

NATURAL GAS (26 AUG.)

ENERGY
OUTLOOK:
RESISTANCE : - 236.00, 240.00
SUPPORT : - 230.00, 225.00

OUTLOOK:
RESISTANCE : - 6050, 6100
SUPPORT : - 5900, 5850


5

COPPER (29 AUG.)

LEAD (31 JULY)

BASE METAL
OUTLOOK:
RESISTANCE : - 137.00, 138.00
SUPPORT : - 135.00, 134.00

OUTLOOK:
RESISTANCE : - 438.00, 442.00
SUPPORT : - 432.00, 428.00


6
ZINC (31 JULY)

ALUMINUM (31 JULY)

NICKEL (31 JULY)

OUTLOOK:
RESISTANCE : - 1135.00, 1145.00
SUPPORT : - 1115.00, 1105.00

OUTLOOK:
RESISTANCE : - 123.50, 124.50
SUPPORT : - 120.00, 119.00

OUTLOOK:
RESISTANCE : - 144.50, 145.50
SUPPORT : - 142.00, 141.00


7

GOLD 1293.19
SILVER 20.305
COPPER 3.214
CRUDEOIL 97.58
PALLANDIUM 862.80
PLATINUM 1461.20

USDINR 61.5125
EURUSD 01.3426
USDJPY 102.559
USDCHF 00.9057
GBPUSD 01.6828
USDCAD 01.0920


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