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Daily Market Reflection

27thDecember 2018
COMDEX
Market Outlook

MCX Gold price begins today’s trading with clear positivity to


attack the correctional bullish channel’s resistance and
attempts to hold above it, oil price settles below 3120 barrel
after the decline that it witnessed in the previous sessions,
moving within bearish channel that supports the expectations
of continuing the bearish trend in the upcoming period,
MCX Copper price gained some firm momentum, to notice its Market
rally towards testing the broken support at 424, while the MCX Date Date % Chg
upcoming scenario depends on the stability of this barrier.  24-12-18 26-12-
18
GOLD 31460 31585 +0.40%
SILVER 37541 38274 +1.95%
Fundamental News COPPER 415.30 421.25 +1.43%
CRUDE 3077 3206 +4.19%
On Tuesday President Donald Trump said that a government ALUMINIUM 131.90 131.60 -0.23%
shutdown could last until his demand for funds to build a U.S.- LEAD 139.30 138.70 -0.43%
NICKEL 756.30 750.50 -0.77%
Mexico border is met.
ZINC 177.00 178.85 +1.05%
NATURALGAS 248.80 247.60 -0.48%
On Wednesday Crude Oil prices were mixed as the U.S.
COMEX Date Date % Chg
standard rebounded from steep losses in the previous session, 24-12-18 26-12-18
even though concern over the health of the global economy GOLD 1269.12 1270.97 +0.15%
continued to overshadow the market. SILVER 14.820 15.162 +2.31%
CRUDE 42.53 45.62 +7.19%
COPPER 2.661 2.701 +1.50%
$ INDEX 96.007 96.380 +0.39%
Important Data USDINR 70.1525 70.0700 -0.12%
-
Time Currenc Event Forecast Previou
y s OUR PREVIOUS CALLS UPDATE
10:30am JPY Housing Starts y/y -0.1% 0.3% Intraday super star
Date Commodity Entry Exit P/L
26/1 CHANA(S) 4340 4400 -6000
ECB Economic
2:30pm EUR 2
Bulletin
Multibagger
Unemployment Date Commodity Entry Exit P/L
7:00pm USD 220K 214K 26/1 NG(S) 245 235 12500
Claims
2
SCB Consumer Trifid special
8:30pm USD 133.0 135.7
Confidence Date Commodity Entry Exit P/L
26/1 GOLD(L) 31500 31700 20000
2

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Gold and Silver
GOLD COMEX GOLD

Gold showed sideways to bullish movement and found


PIVOT S1 S2 R1 R2
the major resistance level of 31740. Now if price
S
sustains on higher level then it will test next resistance
MCX 31470 31350 31740 31850
level of 31850. On other side 31470 will be major
COME 1270.81 1264.10 1278.89 1283.50 support level.
X

SILVER COMEX SILVER

PIVOTS S1 S2 R1 R2 Silver showed sideways to bullish movement and found


the major resistance level of 38500. Now if price
MCX 38100 37700 38500 38850 sustains on higher level then it will test next resistance
COMEX 14.77 14.50 15.15 15.30 level of 38850. On other side 38100 will be major
support level.

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Crude and Copper
COMEX CRUDE
CRUDE

PIVOTS S1 S2 R1 R2 Crude oil showed sideways to bullish movement and


MCX 2959 2880 3259 3350 found the major resistance level of 3259. Now if price
sustains on higher level then it will test next resistance
COMEX 42.53 41.50 45.78 46.80 level of 3350. On other side 2959 will be major support
level.

COPPER COMEX COPPER

PIVOTS S1 S2 R1 R2 Copper showed sideways to bullish movement and


found the major resistance level of 424.40. Now if price
MCX 411.80 408 424.40 428 sustains on higher level then it will test next resistance
COMEX 2.6317 2.6110 2.7172 2.7548 level of 428. On other side 411.80 will be major support
level.

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Other Commodities
PIVOTS

COMMODITIE S1 S2 R1 R2 VOLUME OI TREND


S

ALUMINIUM 130.50 129 132.15 134 3068 2645 Bearish

LEAD 138.35 137 140.40 142 6221 2174 Bullish

NICKEL 735 720 757 770 18279 15129 Bearish

ZINC 175.50 174 179.40 181 13667 3785 Bullish

NATURAL GAS 233.90 226 251 257 51425 517 Bearish

LME INVENTORY

COMMODITIES 19/12/2018 20/12/2018 21/12/2018 24/12/2018 26/12/2018

ALUMINIUM +28600 -1800 +11125 +1325 -


Due to Summer Bank Holiday NO LME DATA TODA
COPPER +6350 -125 +1500 +1500 -

LEAD -175 -975 +0 -50 -

NICKEL -150 -486 -96 +150 -

ZINC +2925 +1500 -1950 +2450 -

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Agri Commodity Updates
GUARSEED
Guarseed showed bullish movement and found the
important resistance level of 4282. If price maintains
above 4300 level in next trading session then this
momentum can take prices to 4350 level. If it breaks
the support level of 4200 then 4150 will act as next
support level.

PIVOTS S1 S2 R1 R2

4150 4100 4250 4300

JEERA
Jeera showed bearish movement today and found
the support level of 17070. If prices maintains
above 17500 levels in next trading session then this
momentum can take prices to 17800 levels. If it
breaks the support level of 17000 then 16700 will
act as next support level.

PIVOTS S1 S2 R1 R2

17000 16700 17500 17800

SOYABEAN
Soyabean showed bullish movement and found the
important resistance level of 3373. If price maintains
below 3350 level in next trading session then this
bearish momentum can take prices to 3300 level. If
it breaks the resistance level of 3400 then 3450 will
act as next resistance level.

PIVOTS S1 S2 R1 R2

3350 3300 3400 3450

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Intraday Super Star
(Premium Section)

CALL: SELL DHANIYA JAN BELOW 6180 TARGETS 6140/6100 SL 6240.

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Multibagger Call
(Premium Section)

CALL: BUY ZINC ABOVE 179.40 TARGETS 180.60/181.80 SL 178.

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Trifid Special
(Premium Section)

SS

CALL: SELL SILVER BELOW 38250 TARGETS 37950/37650 SL 38550.

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