Commodity Tips | Free Commodity Calls

Zinc dropped amid given high inventories and a slow recovery of consumption- 26 MAR 2018

04:52 Unknown No comments

Zinc on MCX settled down -0.12% at 209.25 amid given high inventories and a slow recovery of consumption. Despite production cuts from maintenance works at some smelters, China’s output of zinc is likely to rise 8.5% in the first quarter of 2018 from the same period in 2017, given adequate supplies of ore in and beyond China. Pressure also seen as the threat of a global trade war that could damage growth escalated after U.S. President Donald Trump announced tariffs on up to $60 billion of Chinese goods. Trump is planning to impose the tariffs for what he says is misappropriation of U.S. intellectual property, but only after a 30-day consultation period that starts once a list is published.

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Crude Oil Price forecast for the week of March 26, 2018, Technical Analysis- 24 MAR 2018

04:20 Unknown No comments

The WTI Crude Oil market initially pulled back during the week but found enough support at the trendline that you see on the chart to turn things around and rallied again. We reached as high as $65 but found the area to be a bit resistive. I believe the resistance extends to the $66.66 level, the most recent high. If we can break above there, then I think the market is open to going to $70 after that. It appears that the bullish traders continue to jump into the market on these pullbacks for opportunities, and until we break down below the uptrend line, it’s difficult to fight that trend.

Brent

Brent markets also pulled back initially during the trading week, testing the $65 level. The market then exploded to the upside, testing the $70 level. As you can see on the chart, I have an uptrend line that was previous support, and it should end up being resistance. Beyond that, the $65 level underneath looks to be massively supportive, but until we break above the $70 level, I think that we are essentially going to be range bound in general. If we do break above the $70 level, then I think that the market is free to go much higher. Ultimately, I think that shorter-term trading will probably be easier, but if that $70 level gets broken to the upside, then I think the market can go much higher and more of a “buy-and-hold” scenario.

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Oil Prices Rise On Possibility Of Production Curbs Extending to 2019 - 23 MAR 2018

04:03 Unknown No comments

Oil prices rose on Friday morning in Asia, lifted by a statement from Saudi Arabia that production curbs led by the Organization of the Petroleum Exporting Countries (OPEC) and Russia will need to be extended into 2019.Saudi Arabian Energy Minister Khalid al-Falih said on Thursday that OPEC members will need to continue coordinating with Russia and other non-OPEC oil-producing countries on supply restraints in 2019 to reduce the global oil oversupply. OPEC, of which Saudi Arabia is the de-facto leader, as well as a group of non-OPEC countries led by Russia, have been cutting crude output by 1.8 million barrels per day (bpd) to prop up oil prices. The pact began in January 2017 and is set to expire at the end of 2018, but Saudi Arabia now seems to be pushing for an extension.

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Gold remains supported after the U.S. Federal Reserve increased interest rates and forecast at least two more hikes for 2018 - 22 MAR 2018

04:17 Unknown 1 comment

Gold on MCX settled up 0.61% at 30449 ahead of fed meet while Comex Gold settled at their highest levels in a week rose by 1.6 percent to settled at $1,333 per ounce as the dollar weakened further in the wake of the Federal Reserve’s decision to raise a key short-term interest rate. The central bank stuck to its December forecast for three rate increases this year, but pushed up their expected rate path in 2019 and 2020. Investors eyed Fed Chairman’s Jerome Powell’s press conference for clues on how aggressive the central bank panel will be with rates from here. Investors across financial markets had priced in expectations the Fed will raise its benchmark rate by a quarter-percentage point. The Fed did raise its economic forecasts, but Jaime said it was unclear whether the Fed really can reach that higher long run rate, which is where the Fed would stop raising interest rates. The dollar lost more ground as Powell briefed journalists, and he did speak about the trade concerns in response to a question.

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CS BASE CALL : SELL COPPER APR BELOW 440 - 21 MAR 2018

04:31 Unknown No comments

CS BASE CALL :

SELL COPPER APR BELOW 440

TG 438/437/435

SL 441

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CS ENERGY PREMIUM UPDATE : BUY CRUDE OIL APR NR CMP 4160 - 21 MAR 2018

04:29 Unknown No comments

CS ENERGY PREMIUM UPDATE :

BUY CRUDE OIL APR NR CMP 4160
TG 4200 / 4210 / 4220
SL 4100

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