28 April To 03 MAY.'2014: TH RD

28TH APRIL TO 03RD MAY.
2014
www.TheEquicom.com +919200009266
BULLION
With the US adding just 16200 jobs in the nonfarm sector, the futures of crude oil closed lower on the Nymex on Friday. The data stoked gold futures higher and pulled the commodity out of a distress position and helped it cross the $1300 mark. Earlier this week we saw economic data that pointed towards a recovery, and that coupled with a strong dollar kept gold under pressure, Tom Power, a senior commodity broker at R.J. OBrien & Associates in Chicago said to Bloomberg. Gold had gone below the crucial support of $1300 following optimism about the US economy. Meanwhile data suggested that US unemployment rate touched 7.4% in July, according to US labor department. However, the data was not enough to propel crude oil futures further up even as some profit booking too took place.
ENERGY
Crude oil prices in the global market were seen trading positive on strong manufacturing data from Europe, the United States and China. Also, Middle East tensions, disruption to crude oil production in Africa and maintenance activity in the North Sea were seen supporting the crude oil prices to certain extent. Concerns over supply disruptions in Iraq, Libya and Nigeria were also supported the prices. Brent crude oil futures traded above $110 per barrel while US crude oil futures crossed $108 per barrel on Friday. US crude oil futures for September delivery on NYMEX were seen trading down by 0.19% at $107.54 per barrel as of 05.41 PM IST on Friday. Meanwhile, the UK Market/CIPS Purchasing Managers Index (PMI) for the construction sector offers new hope that the UK economy is improving. UK recorded a strongest construction output growth since June 2010, led by surge in housing activity.
BASEMETAL
The trend in copper futures for August delivery on India's Multi Commodity Exchange (MCX) is bullish and expected to trade with the trend for the day, according to our analyst at Commodity Online. For intra-day, support for the commodity is seen at 425.05 and 422.25 levels while resistance is seen at 432.65 and 434.35 levels, said John Godson, Technical Analyst at Commodity Online. MCX copper futures for August delivery were seen trading up by 1.14% at Rs.430.50 per kilogram as of 16.38 IST on Friday. Copper futures on Comex edged up on Friday and is seen trading bullish supported by firm global cues. Copper futures for September delivery on Globex platform of Comex was seen trading up by 0.63% at $ 3.185 per pound as of 04.51 PM IST on Friday. On Friday, copper touched to its peak level in more than a week as data releases from the United States, Europe and China shown a positive review on their respective economies.
GOLD (5 JUN.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 29300, 29700 : - 28300, 28000 : - BUY ON DIPS
SILVER (5 MAY.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 43400, 44000 : - 43500, 44500 : - BUY ON DIPS
CRUDEOIL (19 MAY)

OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 6300, 6400 SUPPORT STRATEGY : - 6000, 5900 : - BUY ON DIPS
COPPER (28 APR.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 428.00, 436.00 : - 406.00, 396.00 : - BUY ON DIPS
GOLD SILVER COPPER CRUDE OIL NATURAL GAS PALLADIUM PLATINUM
1302.37 19.694 3.121 100.61 4.634 808.00 1421.10
USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD
60.6600 01.3831 102.178 00.8814 01.6796 01.1035
SCRIPT
R3
R2
R1
S1
S2
S3
GOLD SILVER CRUDEOIL COPPER
29850
29400
29150
28700
28450
28050
27800
44200 6450 442.50
43550 6400 432.50
43100 6250 425.50
42400 6200 415.50
41900 6050 408.50
41300 6000 398.50
40800 5850 392
LEAD
136
134
132
130
127.50
125.50
123.50
ZINC
131
129.50
126.50
125
122.50
120.50
118.50
ALIMINUM
117
115.50
113
111.50
109
107.50
105
NICKEL NATURAL GAS
1196.50 299
1163.50 295
1141 290
1107.50 287
1085 281.50
1051.50 278.50
1029 273
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28 April To 03 MAY.'2014: TH RD

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28TH APRIL TO 03RD MAY.

CRUDEOIL (19 MAY)

RESISTANCE : - 6300, 6400 SUPPORT STRATEGY : - 6000, 5900 : - BUY ON DIPS

COPPER (28 APR.)

GOLD SILVER COPPER CRUDE OIL NATURAL GAS PALLADIUM PLATINUM

1302.37 19.694 3.121 100.61 4.634 808.00 1421.10

USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD

60.6600 01.3831 102.178 00.8814 01.6796 01.1035

GOLD SILVER CRUDEOIL COPPER

44200 6450 442.50

43550 6400 432.50

43100 6250 425.50

42400 6200 415.50

41900 6050 408.50

41300 6000 398.50

40800 5850 392

NICKEL NATURAL GAS

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