Star India Commodity Blog: June 2017

	R1	S1
GOLD	28830	28400
SILVER	38710	37750
CRUDE	2900	2730
COPPER	380	365
LEAD	144	168
ALUMINIUM	124	120
ZINC	177	168

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The Aluminum is bearish for medium-long term .Currently Aluminum is moving sideways The Aluminum is now trading in oversold level. The Aluminum is now trading in oversold level. The oscillator is showing sell signal .In last 1 month volatility is very less buy the Aluminum above 124 or buys with strict stop at 120. The Aluminum is now trading in oversold level. The Aluminum is now trading in oversold level. The oscillator is showing sell signal for short term Aluminum is in hold short position. Immediate support for Aluminum is 120.Resistance for the Aluminum is 124.

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LEAD

Lead is bearish for medium-long term .Currently Lead is in strong uptrend with good momentum but volume is unsatisfactory the open interest is not increasing with trend Cautious point is buying at higher levels seems decreasing. The oscillator is showing buy signal for short term the current position is buying. Support for the Lead is 134-.Resistance for the Lead is 144.

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ZINC TRENDS

Zinc is bearish for medium-long term .Currently Zinc is showing some up move after small correction and trend is strong and supported with good volume The open interest is not increasing with trend . Caution note buying at higher levels seems decreasing. The oscillator is showing buy signal for short term Zinc is in hold long position and closed above 1 month high with volume signals up breakout. Support for the Zinc is 168.Resistance for the Zinc is 177.

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COPPER

LME Copper prices are currently trading lower by 0.1 percent at $5734/t. Prices are expected to trade sideways today as latest hawkish comments by Fed member Patrick Harker to keep a pause on rate hikes will provide some relief. Also, consistent decline in LME stocks will provide a cushion. We expect MCX copper prices to trade sideways today. the Copper is bearish for medium-long term .Currently Copper is moving sideways The oscillator is showing SELL signal .In last 1 month volatility is very less buy the Copper above 379 or buy with strict stop at 358. The oscillator is showing sell signal for short term Copper is in hold long position. Support for the Copper is 365.Resistance for the Copper is 380.

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CRUDE OIL

Oil futures tilted higher in American trade moving farther away from ten-month lows as the dollar gave up ground following earlier data from the US the world's largest energy consumer. Oil futures are recovering on profit-taking while still heading for the fifth weekly loss in a row the longest such streak since 2015, as markets price in above five-year averages global oil inventories at 292 million barrels and after US Libyan and OPEC production increased in May. Otherwise the Energy Information Administration released its report on US crude stocks showing a drawdown of 2.5 million barrels in the week ending June 16, adding to the 1.7M drop in the previous reading while analysts expected a 1.2% fall with total stocks now reaching 509.1 million barrels remaining within the upper range in average for this time of year. Gasoline stocks fell 0.6 million barrels while distillate stocks rose 1.1 million barrels both remaining within the upper range in average for this time of year.

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SILVER

Silver futures rose nearly one percent away from the lowest since May 12 as the dollar index edged lower following earlier data from the world's largest economy. Silver dropped weighed down by a stronger dollar supported by data showing a strong U.S. jobs market. The U.S. Department of Labor said initial jobless claims in the week ending June 10 decreased by 8,000 to 237,000 from the previous week’s total of 245,000.The central bank maintained its outlook of one more rate hike for this year as it expects that a tightening labor market will lift inflation to the 2% target

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GOLD

Gold prices rose nearly one percent for the third session in a row moving farther away from a one-month trough hit earlier this week while the dollar gave up ground following earlier data from the world's largest economy. Earlier US data showed unemployment claims rising as expected while the housing price index rose 0.7% or the same as before in April as markets await the CB leading index for May later today expected to slow down. Federal Open Market Committee member Jerome Powell is scheduled to appear in front of the Senate Banking Committee in Washington as investors look for any clues about the future of policy tightening this year. Last week the Federal Open Market Committee voted to increase interest rates by 25 basis points for the second time this year while downgrading their projections for unemployment and inflation and keeping their growth forecasts intact as the Fed announced its plan to normalize the balance sheet later this year and trim it down from its current $4.5 trillion levels.

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Thursday 22 June 2017

COMMODITY TIPS

HNI CALL :- BUY LEAD ABOVE 141 TG1-141.70 TG2-142.40 TG3-143.10 SL BELOW 139.30

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Wednesday 21 June 2017

MCX TIPS

CALL :- BUY ZINC ABOVE 165.70 TG1-166.20 TG2-166.70 TG3-167.20 SL BELOW 164.70

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COMMODITY TIPS

UPDATE: - KINDLY BOOK PARTIAL PROFIT IN ZINC BUY CALL 1ST TGT 166.20 HAS ACHIEVED PROFIT RS. 5000/- IN 2 LOTS

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Sunday 18 June 2017

COMMODITY TRENDS

	R1	S1
GOLD	29500	28850
SILVER	43500	41600
CRUDE	3710	3525
COPPER	411	390
LEAD	160	150
NICKEL	748	712
ALUMINIUM	128	124
ZINC	198	187

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ALUMINUM

Aluminum:-

The Aluminum is in perfect uptrend .Currently Aluminum is showing some up move after small correction and trend is strong momentum is also showing strength and supported with good volume The open interest is not increasing with trend . The oscillator is showing buy signal for short term Aluminum is in hold long position. Support for the Aluminum is 124 immediate resistances for Aluminum are 128.

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NICKEL TRENDS

Nickel:-

The Nickel is in perfect uptrend .Currently Nickel is in strong uptrend and the trend is supported with good volume the open interest is not increasing with trend. Cautious point is buying at higher levels seems decreasing. The oscillator is showing buy signal for short term the current position is buying and closed above 1 month high with volume signals up breakout. Support for the Nickel is 712.Immediate resistance for Nickel is 748.

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LEAD TRENDS

Lead:-

The Lead is in long medium term bull phase .Currently Lead is in strong downtrend with good momentum and the trend is supported with good volume the open interest is not increasing with trend. Noting point is selling at lower levels seems decreasing. The oscillator is showing sell signal for short term Lead is in hold long position. Support for the Lead is 150.Resistance for the Lead is 160.

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ZINC TRENDS

Zinc :

The Zinc is in perfect uptrend .Currently Zinc is in strong uptrend and the trend is supported with good volume the open interest is not increasing with trend. The oscillator is showing buy signal for short term Zinc is in hold long position. Support for the Zinc is 187 immediate resistances for Zinc are 198.

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COPPER TRENDS

Copper:

Last week, LME Copper prices rose 0.3 percent to close at $6106/t as US president surprised the global markets by affirming to the One China policy, a major bone of contention between the two superpowers. Also, supply concerns at Freeport mine in Indonesia continue even after the government granted it new export permit since the company wants the same fiscal and legal protection in its current contract was supportive.

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CRUDE TRENDS

Crude:-

Crude oil rose after OPEC sources said the group could extend its oil supply-reduction pact with non-members and might even apply deeper cuts. OPEC and other exporters including Russia agreed last year to cut output by 1.8 million barrels per day (bpd) to reduce a price-sapping glut. The Crude oil is in perfect uptrend .Currently Crude oil is moving sideways The oscillator is showing BUY signal .In last 1 month volatility is very less Buy the Crude oil above 3710 or buy with strict stop at 3525. The oscillator is showing BUY signal for short term Crude oil is in sell position. Support for the Crude oil is 3525. Immediate resistance for Crude oil is 3710.

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SILVER TRENDS

Silver:-

The Silver is in perfect uptrend currently Silver is in strong uptrend and the trend is supported with good volume the open interest is not increasing with trend. Cautious point is buying at higher levels seems decreasing. The Silver is now trading in overbought level. The oscillator is showing buy signal for short term the current position is buying. Support for the Silver is 41600.Immediate resistance for Silver is 43500.

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GOLD TRENDS

Gold:-

Gold prices rose to a one-week high as the U.S. dollar pulled back from its strongest level in more than a month, supporting demand for the yellow metal. Concern over U.S. President Donald Trump's policies and elections in the Netherlands, France and Germany this year have fuelled gold’s rise. The Gold is in perfect uptrend .Currently Gold is in strong uptrend and the trend is supported with good volume the open interest is not increasing with trend. Cautious point is buying at higher levels seems decreasing. The Gold is now trading in overbought level. The oscillator is showing SELL signal for short term Gold is in hold short position. Support for the Gold is 28850 immediate resistances for gold are 29500.