CPI and WPI Numbers and Commodity Trading Tips

Information about CPI and WPI Numbers and Commodity Trading Tips

Published on March 9, 2014

Author: speak2earth

Source: authorstream.com

Content

PowerPoint Presentation: CPI a n d WPI N u mb e rs a n d C o mm od i t y Ti p s G o ld c o m m o d i ty h as b een ris in g c o n ti nu o u sly si n c e b eg inn i n g o f the year 2 0 1 4 f rom $ 1 2 0 0 t o $ 1 3 55 s o at a n y p o i n t in t i me p ri c es may t ake a s mart d o w n w ard c o rre c ti o n . N o n et h e l e s s, we n e ed to b e ve r y ca u ti o u s is d e v el o p i n g a v i ew for the n e x t w e e k . L o o ki n g at t h e e c o n o m ic d ata, w e h a ve v e r y c o n v entio n al rel e ases fr o m t h e US a n d eur o - z o n e a n d ex p ec t i n g th e m t o b e r e m ain m o st l y in l in e wi t h the ex p ec t a ti o n . In th i s r e g ard p rice act i o n c o u ld b e low e r. C o mi n g t o tra d e f r o n t, at the C O M E X f r o n t tho ug h p rices a r e t r a d i n g in a c o n fi n ed ra n g e bu t the vo l u mes h ave b een m u ch h i gh er in last thr e e w e e k in c o m p ar i s o n s t o p r e vio u s p eri o d . This i n d icates th a t there c o u ld b e a hug e p rice m o v e m ent in the n e x t we e k. As s ta t ed a b o ve w e are l i ttle cy n ical a b o u t t h e v i ews so a dd i n g a l i t tle tech n ical stu d y t o o u r vie w s we b eli e ve if g o ld f ai l s to a b o v e $1 3 6 0 then p rices m ay d ri f t d o wn to $ 1 3 2 0 a n d then $ 1 3 0 0. Lik e wise, at the M C X p lat f o rm p ri c es h a v e fa l len a t ad bu t the b o th v o l um es a n d o p en i n tere s ts h ave i n creased su b stantia l l y i n dicati n g that the c o m m o d i t y may d e cli n e a tad in the e ar l y p art o f n e xt w e e k. There f o re, we su gg est a se l l vi e w o n gold c o m m o d i t y whi l e p re f erri n g t o be ca u t i o u s o n t h e tra d e. Gold A p ril MCX f u tur e s p rices i n itia l ly ma d e a w eek l y h i g h o f 30 6 60 a n d later s t arted d ecli n i n g . In the we e kly ch a r t p rices are h o veri n g in the trend ch ann el a n d ex p e c ted t o c o n ti nu e the s a me tren d . St r o n g resistan c e is s e en a t 3 05 20 l e vels (t r end ch ann el ) , which is ex p e ct e d t o l i mit the up si d e m o v e. Im m ed i ate su p p o r t is s ee n at 2 9 8 8 1 (p r e v i o u s we e k l o w). Bre a k b e l o w 298 81 c o u ld lead the d rop t o w ar d s 2 9 5 80 l e vels. F o r s h o rt t e r m tra d ers w e su g g e st selli n g . Gold W eek l y S upp o r t o n D o wnsi d e at 2 9 8 0 0 - 2 9 30 0 Gold W eek l y R esistan c e o n Ups id e at 3 0 5 0 0 - 3 1 0 0 0 Tren d : Si de wa y s S ilv e r o verall we f e el, b ro a d er p art o f t h e vi e w f o r the c o m m o d i t y c o n ti nu es t o b e o n the we a ker si d e o f the tra d e. W h i l e o t h er cues with re g ar d s t o t h e i n stit u t io n al i n ve s t m ent si d e h a ve b een pret t y sta b le, we feel the c o m m o d i t y w o u ld c o n ti nu e t o ta k e n eg a ti v e cues with reg a r d s mo v em ent in b a s e m e tals. We h ave seen a hug e d rop i nt o the c o mm o d ity m ai n ly o n Fr id ay e ven in g (I S T) a f ter t h e US n o n - fa r m p a yrol l s d ata which s h o w ed a b e tt er than e xpec t ed i n crea s e in m o n th l y p a yrol l s. This p ressed b o th g o ld a n d si l ver l o wer, t h o ug h sil v er o wing to its h i gh er b eta r ec o r d ed a v ery h i g h fa l l a n d the r a tio al s o i n c h e d h i gh er t o 64 marks. W e f e el n e xt w e ek the r e is f u rt h er ch an c e f o r th i s rat i o to i n ch h i gh er t h o ug h p o st the su d d en rise th i s w e e k, t r a d ers are a d v i sed to i n itiate t h e sp r ead o n s mall d ecli n es On t o t h e c o m m o d i t y a l s o , we h a v e a selli n g v i ew a n d w o u ld re c o mm end tra d ers to l o o k f o r sho r t p o sit i o n s in t h e n ext w e ek. L o cal l y, w e feel there are d e c ent s e t o f c u es p artic u la r ly t h e CPI a n d W P I nu m b e r which a r e ex p ec t ed t o c o n ti nu e sh o w im p r o v e m ent a n d c o u ld lead to s o me a pp reci a t ion ex t en d i n g i n to t h e Ru p ee, which is a n o ther f act o r which is l i ke l y t o a d d to the wei gh t i nt o the c o mm o d ity in I n d ian M C X mar k ets S i lv e r M a y M C X f u tures p r ices c o n ti nu ed i t s d o wnsi d e j o u r n ey in the la s t w e e k . As Pr i ces are h o v eri n g b el o w the w e ekly ex p o n e n tial m o vi n g a v e ra g es ( 8, 13 & 21 ) , which i s si gn al i n g d o wnsi d e p ressu r e t o PowerPoint Presentation: re m ain i n ta c t. We mi gh t s ee a h i gh er c o r r ec t i o n b e f o re res u mi n g its d o wntre n d . Key resi s tance l e vel t o watch is at 4 6 9 0 0 l e v els, w h i ch is ex p e ct e d to h o ld the d o wnsi d e view. D o wnsi d e p o t ential is s e en un til 4 5 3 0 0 l e vels. Bre a k b e l o w 4 5 3 0 0 wi l l c o n fi r m short t e rm d o wnt r en d . S i lv e r We e kly S upp o r t o n D o wnsi d e at 4 5 5 0 0 - 4 4 50 0 S i lv e r We e kly Resi s tance o n Ups id e at 4 71 0 0 - 4 8 0 0 0 Tren d : D o wn C o mm od i t y Ti p s S I LVER MCX MAY NE A R 4 6 8 0 0 - 4 6 9 00 SL 4 8 0 0 0 T GT 4 5 8 0 0 - 4 5 2 0 0 CO P PER M C X A P R S E LL N E AR 4 3 0 - 4 3 2 SL 4 41 TGT 4 15 - 4 1 0 CRUDE OIL M C X MAR N E A R 6 4 0 0 - 6 4 5 0 SL 6 5 5 0 T GT 6 1 0 0 - 6 0 5 0

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