sure beneficial commodity tips

17 NOV – 21 NOV 2014

W E E K L Y

R

E

P

O

R

T

Blow by Blow

On

Bullions,

Base metals,

Energy…

WWW.TRIFIDRESEARCH.COM


MAJOR EVENTS Gold futures jumped, capping the biggest two-day gain since June, as an oil rally

damped concern that inflation will remain low and revived demand for the metal as a

store of wealth. Silver surged the most in nine months.

Aggregate gold trading more than doubled compared with the 100-day average for

this time, according to data compiled by Bloomberg. Today, an option wager on a

price rebound to $1,200 an ounce surged as much as fivefold, while Brent crude

jumped as much as 2.9 percent.

Gold futures for December delivery rose 2.1 percent to settle at $1,185.60 at 1:38

p.m. on the Comex in New York. Earlier, the price reached $1,192.90, the highest for a

most-active contract since Oct. 31. In two days, the price climbed 2.3 percent, the

most since June 20.

Total volume rose to an estimated 315,276 contracts, the seventh time this year

trading topped 300,000. Yesterday, aggregate open interest climbed to the highest

since May 22, 2013.

Brent advanced on speculation that the drop in prices below $80 a barrel for the first

time in four years increases the likelihood that OPEC will curb output. West Texas

Intermediate rose the most in more than two months. Futures gained 2.5 percent in

London and 2.2 percent in New York. OPEC ministers have stepped up their

diplomatic visits before the group’s Nov. 27 meeting, potentially seeking a consensus

on how to react to oil prices that have plunged to a four-year low. Prices may slide

further in the coming months as the market enters a period of weaker demand, the

International Energy Agency said today.

Oil has collapsed into a bear market after leading members of the Organization of

Petroleum Exporting Countries resisted calls to cut production and the U.S. shale

boom lifted output to the highest level in three decades. Brent posted its eighth

weekly decline, the longest retreat since the contract began trading in 1988.

Brent falling below $80 yesterday and WTI falling below $74 has certainly gotten the

attention of OPEC.

Oil Rises as Price

Plunge Puts

Pressure on OPEC

to Act.

Copper Caps

Biggest Gain in

Two Months on

U.S. Confidence.

Copper futures capped the biggest gain in two months as consumer confidence

reached a seven-year high in the U.S., the world’s second-biggest consumer of the

metal. Improving sentiment signals gains for American spending and demand for

appliances and electronics that use copper wiring.

The gains for confidence are “good for the economy, and good for the industrial

complex as a whole”. Copper futures for March delivery rose 1.7 percent to settle at

$3.0385 a pound at 1:18 p.m. on the Comex in New York, the biggest gain since Sept.

16.

Prices closed unchanged for the week amid concerns that demand will slow in China,

the top metals consumer. That nation’s factory production in October grew at its

second weakest pace since 2009, government figures showed yesterday. As strong as

the U.S. is supposed to be, it doesn’t really matter. China is just so much bigger for

incremental and overall use. On the London Metal Exchange, copper for delivery in

three months climbed 0.7 percent to $6,705 a metric ton ($3.04 a pound) on the

London Metal Exchange.Zinc, nickel and lead also rose in London, while aluminum and

tin fell.

Gold Futures Post

Biggest Two-Day

Rally Since June.

E C O N O M I C C A L E N D E R

DATE & TIME DESCRIPTION FORECAST PREVIOUS

Nov 17 7:00pm Empire State Manufacturing Index 12.1 6.2

7:45pm Capacity Utilization Rate 79.3% 79.3%

7:45pm Industrial Production m/m 0.2% 1.0%

Nov 18 7:00pm PPI m/m -0.1% -0.1%

7:00pm Core PPI m/m 0.2% 0.0%

8:30pm NAHB Housing Market Index 55 54

Nov 19 12:00am FOMC Member Kocherlakota Speaks

2:30am TIC Long-Term Purchases 41.3B 52.1B

7:00pm Building Permits 1.04M 1.02M

7:00pm Housing Starts 1.03M 1.02M

9:00pm Crude Oil Inventories -1.7M

Nov 20 12:30am FOMC Meeting Minutes

6:15pm FOMC Member Tarullo Speaks

7:00pm CPI m/m -0.1% 0.1%

7:00pm Core CPI m/m 0.2% 0.1%

7:00pm Unemployment Claims 286K 290K

8:15pm Flash Manufacturing PMI 56.2 55.9

8:30pm Philly Fed Manufacturing Index 18.9 20.7

8:30pm Existing Home Sales 5.16M 5.17M

8:30pm CB Leading Index m/m 0.6% 0.8%

9:00pm Natural Gas Storage 40B

Nov 21 12:00am FOMC Member Mester Speaks

S1 S2 S3 R1 R2 R3

26135 25585 25160 26710 27125 27650

S1 S2 S3 R1 R2 R3

35200 33490 31000 37220 39150 41000

T E C H N I C A L V I E W

MCX GOLD showed sideways

movement in whole week except last

trading session which broke the

resistance level of 26000 and found

resistance around 26500. Now, if it

able to maintains above 26600 then

next resistance level is seen around

the physiological level of 27000. On

other hand if it sustain below 26000

then again drag upto the support level

of 25200.

S T R A T E G Y Better strategy in MCX GOLD is to buy

above 26600 for the target of 27000-

27500 with stop loss of 25500.

PIVOT TABLE

G O L D

PIVOT TABLE

S I L V E R


MCX SILVER on daily charts showed

sharp upward movement on last

trading session and gave breakout of

psychological level of 35000 and found

resistance around 36250. Now, 37000

will act as immediate resistance for it

above which trendline breakout

expected will lead it upto 38000. On

lower side closing below 35000 will

again drag it towards the support

range of 34000-33000.

S T R A T E G Y Better strategy in MCX SILVER at this

point of time is to buy above 36500 for

target of 37500, with stop loss of 34900.

C R U D E O I L

C O P P E R

S1 S2 S3 R1 R2 R3

4520 4400 4250 4695 4840 5005

S1 S2 S3 R1 R2 R3

411.25 405.10 398.45 417.25 423.35 429.85


MCX Copper last week broke the

support level of 413 and found the

support of trendline but unable to

sustain below it and reverted from the

trendline. Now, 410 is seen as

immediate support for it below which

it drag towards strong support of 403

and may test lower band of channel

i.e. 395. On higher side 418 is act as

vital resistance for it above which 425

is next resistance level.

S T R A T E G Y Better strategy in MCX CRUDEOIL is to

sell below 4600 for the targets of 4400,

with stop loss of 4850.

PIVOT TABLE


MCX Crude oil last week showed

bearish movement and gave breakout

of 4690 and took the support of 4525.

Now, if it breaks the support level of

4550 and closed below it then it is in

weak zone and may find next support

around 4450. If some correction occurs

and maintains above 4750 then 4920

is act as immediate resistance for it.

S T R A T E G Y Better strategy in MCX COPPER is to buy

above 420, with stop loss of 407 for the

targets of 430.

PIVOT TABLE


DISCLAIMER

sure beneficial commodity tips

Business