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26/11/2015

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DAILY MCX NEWSLETTER

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BULLION:

Gold hovered close to its lowest in nearly six years on Thursday, as the dollar

held at multi-month highs and U.S. economic data reinforced market

expectations of an interest rate hike this year. Data on Wednesday showed that

U.S. manufacturing output rose well above economists' expectations in

October, while business spending plans surged. New applications for

unemployment benefits dropped last week. Asian shares advanced in early

trade on Thursday, while growing bets the European Central Bank was gearing

up to deliver further stimulus steps kept the euro under pressure.

BASE METAL: Market is lacked in major reports on Thursday.

LME copper will move between USD 4,520-

4,580/mt during Asian trading hours Thursday. US

current economic situation is enough to support

rate hike next month. US housing market,

manufacturing industry and income situation

continue to point upwards. Economy in euro zone

improved slightly currently but the Europe Central

Bank (ECB) is still expected to continue with more

easing monetary policy in December. The ECB

reportedly will expand its bond buying program

overnight. In response, euro tumbled and US

dollar refreshed a new high.

ENERGY:

Brent and U.S. crude oil futures traded nearly flat on Thursday on light trading due to the U.S. Thanksgiving holiday. U.S. crude

edged higher earlier in the day, supported by a smaller-than-expected build in U.S. inventories. Stocks rose 1 million barrels in the

week to Nov. 20, the ninth consecutive week, compared with analyst expectations for a 1.2 million barrel rise, according to the U.S.

Energy Information Administration. Asian stocks advanced in early trade on Thursday as the euro remained under pressure on

growing bets that the European Central Bank would deliver further stimulus steps. U.S. markets will be closed Thursday and most of

Friday afternoon.

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CS GOLD (DECEMBER) OVERVIEW:

TREND : BULLISH RESIST 2: 25490 RESIST 1: 25380

SUP 1: 25140 SUP 2: 25075

STRATEGY: BUY ON DIPS

CS SILVER (DECEMBER) OVERVIEW:

TREND : BULLISH RESIST 2: 34450 RESIST 1: 34180

SUP1: 33550 SUP2: 33400

STRATEGY : BUY ON DIPS

CS CRUDE OIL (DECEMBER) OVERVIEW:

TREND : BULLISH

RESIST 2:2950 RESIST 1:2920

SUP1:2850 SUP2:2810

STRATEGY: BUY ON DIPS

CS NATURAL GAS (DECEMBER) OVERVIEW:

TREND :BEARISH

RESIST 2:158 RESIST 1:155

SUP1: 151 SUP2:149

STRATEGY: SELL ON RISE

BULLION & ENERGY

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CS COPPER (NOVEMBER) OVERVIEW:

TREND :BULLISH

RESIST 2:314 RESIST 1:310

SUP1:300 SUP2:297

STRATEGY: BUY ON DIPS

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BASE METAL

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MCX CRUDE OIL Dec., Monday as seen in the daily chart opened at 2870 levels and day high

of 2871 levels. During this period price corrected & made day low of 2792 levels finally

closed at 2860 levels. Now, there are chances of further upward movement technically &

fundamentally.

Energy Information Administration. Asian stocks advanced in early trade on Thursday as the euro remained under pressure on growing bets that the European Central Bank would deliver further stimulus steps. U.S. markets will be closed Thursday and most of Friday afternoon.

DAILY RECOMMENDATION: BUY MCX CRUDE OIL DEC., ABOVE 2870 LEVELS FOR TARGET OF

T1 2970/T2 3000 WITH SL OF 2770 LEVELS.

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COMMODITY PICK OF THE DAY: CRUDE OIL

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