COMMODITY DAILY
As on Tuesday, July 11, 2017
Global Market Round Up
 Commodities traded lower with Bullion declined on monetary tightening
signals from world central banks. Crude oil prices traded firm witnessing
short recovery while Base metals witnessed correction on demand
concerns and higher inventories.
World Economic Data
Country
Time
Data
Actual
Forecast
Previous
No Major Data today
 Asian stocks rose on Monday thanks to a robust Wall Street performance
at the end of last week, while the U.S. dollar extended gains made after
much stronger than expected June employment data. The dollar index,
which climbed 0.2 percent on Friday, was little changed at 96.028 on
Monday.
 On data calendar today , there are no major data to watch out. The dollar
index and equity market move will be crucial.
Dollar Index Daily Chart
USDINR Spot Daily Chart
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COMMODITY DAILY
As on Tuesday, July 11, 2017
Technical Trend Guider
Commodity
Contract
MCX Gold
Aug
MCX Silver
July
MCX Crude oil
July
MCX Natural gas
July
MCX Copper
Aug
MCX Nickel
July
MCX Lead
July
MCX Zinc
July
MCX Aluminum
July
S2
27500
35500
2810
182.0
374.0
565.0
146.2
176.0
120.5
S1
27600
35900
2840
185.0
376.0
576.0
147.0
178.5
121.2
Key Level
27700
36200
2870
188.0
380.0
582.0
148.5
180.0
122.0
R1
27750
36350
2910
192.0
384.0
586.0
149.5
181.5
123.0
Commodity Research - Alpha Commodity Pvt Ltd
R2
27850
36550
2940
195.0
387.0
592.0
150.5
183.0
124.0
Intraday Trend Overall Trend
Bearish
Bearish
Bearish
Bearish
Bullish
Bearish
Bullish
Bullish
Bullish
Bullish
Bearish
Bearish
Bullish
Bullish
Bullish
Bullish
Bearish
Bearish
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COMMODITY DAILY
As on Tuesday, July 11, 2017
Bullion
Trend: Sideways to up
Bullion
Commodity
MCX
Gold
COMEX Spot Gold
MCX
Silver
COMEX Spot Silver
Open
27732
1212.28
36226
15.57
High
27820
1215.58
36597
15.74
Low
27603
1204.2
35460
15.17
Close
27794
1213.75
36544
15.63
% Change Open Int Volume
0.04
6583
11049
0.10
0.86
22326
31279
0.44
-
Levels to watch: Gold 2805028400, Silver 37500/38200
Event/Data to watch: Dollar index
movement
 Gold silver prices declined on stringer dollar after positive US non-farm payroll data. Prices remained under pressure since last week after
world central banks signaled monetary tightening in near term.
 Prices are expected to trade sideways to down with stronger dollar. The uncertainty over BREXIT and tensions in Korean peninsula may
support prices to trade firm.
 We expect bullion prices to trade sideways to down today with Gold resistance at $1220, support at $1202. Silver resistance at $15.60,
support at $15.20.
COMEX Gold Daily Chart
COMEX Silver Daily Chart
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COMMODITY DAILY
As on Tuesday, July 11, 2017
Energy
Energy
Commodity
MCX
Crude Oil
NYMEX WTI Crude Oil
MCX
Natural Gas
NYMEX Natural Gas
Open
2882
44.35
186.3
2.898
High
2893
44.84
190.4
2.946
Low
2822
43.65
185.7
2.87
Trend: Sideway to down
Close
2876
44.4
189.4
2.929
% Change Open Int Volume
0.45
17035
172991
0.38
2.27
5261
48240
2.27
-
Levels to watch: Crude oil 2820 –
2910 Natural Gas 184-192
Data to Watch: Dollar Index
Move,
 Crude oil prices traded firm witnessing short recovery despite bearish inventory data. Prices were trading steady in day trade in the
narrow range and later rallied after EAI report showed decline in US output. The summer demand will boost gasoline consumption which
can support oil prices to trade firm. Prices are currently caught in tug of war between higher supplies and production cut effects.
 US weekly crude oil inventories rose by 0.1mb against previous decline of 2.5 mb. The rising output from Libya and increasing U.S.
production has pressured oil prices to trade lower. US oil rigs rose by 17 to 758 rigs at highest in two years.
 Natural gas prices traded higher on warmer temperatures which pushed cooling demand. Prices are caught in supply demand
expectations ahead of summer demand. We expect prices to trade sideways to up with Support at 194/182, resistance at 192/195.
MCX Crude Oil Daily Chart
MCX Natural Gas Daily Chart
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COMMODITY DAILY
As on Tuesday, July 11, 2017
Base Metals
Base Metals
Commodity
MCX
Copper
MCX
Nickel
MCX
Lead
MCX
Zinc
MCX
Aluminum
Open
380.45
584
148
180.15
124.35
High
380.85
584
149
180.45
124.45
Low
376.4
573
146.2
177.25
121.8
Trend: Sideways to down
Close
379.25
581.1
148.85
178.95
121.95
% Change Open Int Volume
-0.22
13794
24321
0.05
31886
24323
0.4
2398
14174
-0.75
7774
24042
-2.01
1966
6038
Levels to watch: Copper 376–381,
Zinc 176-181
Data to watch: Dollar index
movement
 Prices traded mixed witnessing both side movements. Prices traded lower witnessing selling on demand concerns and higher supply. The
overall demand outlook kept prices under pressure with rise in LME inventories has put additional pressure on prices.
 Copper prices may trade lower with resumed mining from Chile with end of labor strike. Other metals may come under pressure with rise in
inventories at LME.
 We expect prices to trade sideways to down with copper support at 376, resistance at 381. Zinc support at 176, resistance at 181 and Nickel
support at 576/572, and resistance at 590.
MCX Copper Daily Chart
MCX Nickel Daily Chart
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COMMODITY DAILY
As on Tuesday, July 11, 2017
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