METALS & ENERGY OUTLOOK

Date: Sep 13 2019

BULLION- GOLD

MCX GOLD FUTURE

 Gold Closed lower on Thursday Amid the

European Central Bank’s rate cut and promise
quantitative easing Thursday. That pushed
the yellow metal to one-week highs above
$1,500 in anticipation of similar dovish action
from the Federal Reserve.

OPEN HIGH LOW CLOSE % CG S3 S2 S1 R1 R2 R3 VOL OI

37898 38228 37662 37750 -0.59 36966 37314 37532 38013 38446 38664 22439 11116

STRATEGY: - As long as 37600/37400 holds support we could see 38000/38150 levels.

BULLION- SILVER

MCX SILVER FUTURE  Silver Prices closed Lower on Thursday Amid

The ECB cut its deposit rate to a record low of -
0.5%, while promising that rates would stay
low for longer. It said it would restart bond
purchases at a rate of 20 billion euros a month
from Nov. 1.

OPEN HIGH LOW CLOSE % CG S3 S2 S1 R1 R2 R3 VOL OI

47430 48082 46951 47128 -0.78 45561 46256 46692 47653 48518 48954 41455 10500

STRATEGY: As long as 47000/46500 holds support we could see 47500/48000 levels.

 ENERGY- CRUDE

MCX CRUDE FUTURE

 Crude Oil prices Closed lower on Thursday on concerns
that sanctioned Iranian supplies might come roaring
back. OPEC’s vow to balance the market with supply
cuts were trumped by fears there might be a resolution
soon to the near-year-long U.S. embargo on Iranian
crude.

OPEN HIGH LOW CLOSE % CG S3 S2 S1 R1 R2 R3 VOL OI

4019 4024 3826 3899 -2.7 3611 3718 3809 3963 4114 4205 375371 12299

STRATEGY: - As long 3990/4030 resist we could see 3850/3810 levels.

ENERGY- NATURAL GAS

MCX NATURAL GAS FUTURE

 Natural Gas prices Closed Lower on Thursday Amid
Estimates of future supplies of U.S. natural gas
increased to 3,374 trillion cubic feet, a 20% increase
over the last projection in 2016, according to a
biennial assessment of the nation’s gas resources at
the end of 2018.

OPEN HIGH LOW CLOSE % CG S3 S2 S1 R1 R2 R3 VOL OI

182.7 183.9 179.3 183 -0.27 175.6 177.5 180.2 183.1 186.7 189.4 69802 10133

STRATEGY: - As long as 186/192 resist we could see 180/177 levels.

 BASE METAL- COPPER

MCX COPPER FUTURE

 Copper prices closed higher on Thursday after the

United States said it would delay imposing a new
round of tariffs on China, raising hopes of a thawing of
tensions that could bode well for demand for the
metal.

OPEN HIGH LOW CLOSE % CG S3 S2 S1 R1 R2 R3 VOL OI

451.9 456.95 445.2 452.85 0.53 434.6 439.9 446.4 454.4 463.4 469.9 31657 5450

STRATEGY: As long as 448/445 holds support we could see 457/460 levels.

BASE METAL- ZINC

MCX ZINC FUTURE

 Zinc prices closed higher on Thursday Amid the

United States said it would delay imposing a new
round of tariffs on China, raising hopes of a thawing
of tensions that could bode well for demand for the
metal.

OPEN HIGH LOW CLOSE % CG S3 S2 S1 R1 R2 R3 VOL OI

187 187.65 183.3 184.9 0.8 178.6 180.9 182.9 186.3 189.6 191.6 19087 2536

STRATEGY: As long as 183/182 holds support we could see 187/188 levels.

 BASE METAL- NICKEL

MCX NICKEL FUTURE

 Nickel Prices closed marginally Lower on
Thursday Amid the United States said it would delay
imposing a new round of tariffs on China, raising
hopes of a thawing of tensions that could bode well
for demand for the metal.  

OPEN HIGH LOW CLOSE % CG S3 S2 S1 R1 R2 R3 VOL OI

1262 1284.2 1238 1254.6 -0.06 1187 1212.7 1233.7 1269.8 1305.1 1326.1 60538 11166

STRATEGY: As long as 1245/1220 holds support we could see 1285/1300 levels.

 PIVOT POINTS

COMMODITY R2 R1 PIVOTS S1 S2
GOLD OCT 38,446 38,013 37,880 37,532 37,314
SILVER SEP 48,518 47,653 47,387 46,692 46,256
CRUDE SEP 4,114 3,963 3,916 3,809 3,718
NATURAL GAS SEP 186.7 183.1 182.1 180.2 177.5
COPPER SEP 463.4 454.4 451.7 446.4 439.9
NICKEL SEP 1,305 1,270 1,259 1,234 1,213
LEAD SEP 155.8 154.6 154.3 153.7 152.9
ZINC SEP 189.6 186.3 185.3 182.9 180.9
ALUMINIUM SEP 141.1 140.2 139.9 139.3 138.8

Important Data released on Global Economies on Sep 13 2019

Time Event Forecast Previous

ALL DAY
CNY Bank Holiday -- --
06:00 Pm
USD Core Retail Sales m/m 0.1% 1.0%
06:00 Pm
USD Import Prices m/m -0.5% 0.2%
07:30 Pm
USD Prelim UoM Consumer Sentiment 90.4 89.8
 Research Desk

PRIYANK UPADHYAY Priyank.upadhyay@ssjfinance.com +91 22 4300 8861

(AVP-RESEARCH)

VIRAT UPADHYAY virat.upadhyay@ssjfinance.com +91 22 4300 8870

(RESEARCH ANALYST)

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