Commodity

Dear Team,



Please find below Evening Commodity Levels



Evening Commodity Levels



MCX Gold Oct Trend Sideways Support S1 26830 S2 26700 Resistance R1 27060 R2 27180

Spot Gold Trend Sideways Support S1 1143 S2 1136 Resistance R1 1154 R2 1160

NCDEX GoldHedge Sept Trend Sideways Support S1 24300 S2 24220 Resistance R1 24470 R2 24560

MCX Silver Sept Trend Sideways Support S1 34700.00 S2 34450.00 Resistance R1 35300.00 R2 35650.00

Spot Silver Trend Sideways Support S1 14.67 S2 14.51 Resistance R1 15.02 R2 15.22

NCDEX SilverHedg Aug Trend Sideways Support S1 31300 S2 31100 Resistance R1 31750 R2 32000



LME Copper Trend Sideways Support S1 4970.00 S2 4930.00 Resistance R1 5050.00 R2 5090.00

MCX Copper Aug Trend Sideways Support S1 331.00 S2 329.00 Resistance R1 337.00 R2 340.00

MCX Zinc Aug Trend Sideways Support S1 114.60 S2 113.80 Resistance R1 116.10 R2 117.00

MCX Lead Aug Trend Sideways Support S1 110.10 S2 109.30 Resistance R1 111.60 R2 112.50

MCX Aluminium Aug Trend Sideways Support S1 100.80 S2 100.00 Resistance R1 102.20 R2 103.00

MCX Nickel Aug Trend Sideways Support S1 630.00 S2 623.00 Resistance R1 646.00 R2 655.00



MCX Crude Trend Down Support S1 2610 S2 2570 Resistance R1 2670 R2 2705

Nymex Crude Oct Trend Down Support S1 39.00 S2 38.40 Resistance R1 40.10 R2 40.65

MCX Natural Gas Aug Trend Sideways Support S1 173 S2 171 Resistance R1 179 R2 182



US Economic Data



Commodity Alert: Today's US Economic Data



6:30pm HPI m/m Forecast 0.4% Previous 0.4%

6:30pm S&P/CS Composite-20 HPI y/y Forecast 5.1% Previous 4.9%

7:15pm Flash Services PMI Forecast 54.1 Previous 55.7

7:30pm CB Consumer Confidence Forecast 92.8 Previous 90.9

7:30pm New Home Sales Forecast 512K Previous 482K

7:30pm Richmond Manufacturing Index Forecast 9 Previous 13



Fundamental Outlook



Gold and silver prices are expected to trade sideways today as volatile equities in China coupled with uncertain global economic sentiments will bode well for precious metals while stronger dollar will exert downside pressure on the yellow metal.



Bargain buying on one hand and stronger dollar on the other hand are contrasting factors domination oil prices in the near term. We expect oil prices to trade lower.



We expect LME Copper prices to trade sideways as sharp volatility in the Shanghai markets has increased uncertainties over the health of China’s economy. However, Chinese rate cut and favorable US CB Consumer Confidence data will restrict sharp fall.