DAILY COMMODITY TECHNICAL

Navin Nair | navin.nair@emkayglobal.com | 022-6624-2386

Trade Strategies
Commodity Trading Strategies for the day
Commodity

Strategy

Levels

Target

Stop-Loss

Precious Metals
Gold Aug

Range

2655026900

Silver July

Range

3660035750

Energy
Crude oil July

Sell

37603770

3690

3801

Natural gas July

Range

174.50181

Base Metals
Copper June

Range

376.80368

Nickel June

Sell

765770

740

780.10

Zinc June

Range

128.80127

Lead June

Range

112.10110.50

Aluminum - June

Range

105.80103.80

June 29, 2015

EMKAY COMMOTRADE LIMITED

Daily Commodity Technical

Gold Daily Chart

Silver Daily Chart

Gold:

Silver:

Gold witnessed a gap up opening and prices rallied to hit an intraday

Silver prices have retraced lower from its intraday highs at 36429

high of 26868 levels. The intraday view for gold will remain positive

levels. Sustenance below 36100 will be negative for the counter as

until prices stay above 26600 levels. Momentum above 26750 will see

prices will slip lower towards 35700 levels in that case. The counter

prices rally towards 26850 levels. The counter needs to sustain above

needs to breakout decisively above 3655036700 areas for prices to

26800 for a near term reversal to fall in place. Failure to do so will see

rally towards 37200 levels.

prices slide lower towards 26500 levels again.

June 29, 2015

EMKAY COMMOTRADE LIMITED

Daily Commodity Technical

Crude Daily Chart

Natural Gas Daily Chart

Crude Oil (Rs/Bbl):

Natural Gas (Rs./Mmbtu):

Crude Oil prices have opened with a negative gap and the counter is

Natural gas prices are currently trading down with a cut of close to

currently trading well below its support at 3780 levels. We expect

1%. A break below immediate support around 175 will see prices slide

crude oil prices to slide lower towards 3710/3675 levels as the session

lower towards 172.50 levels. Any major breakdown in prices is likely

progresses. Intraday pullback rallies will face selling around 3765

only on a break below 172.50 levels. Momentum above 177.50 will

3770 areas. Day traders can sell into such pullback rallies. A

see prices rebound towards 181 levels. We expect the counter to be

breakdown below 3675 will be extremely bearish for the counter.

range bound throughout todays session.

June 29, 2015

EMKAY COMMOTRADE LIMITED

Daily Commodity Technical

Copper Daily Chart

Zinc Daily Chart

Copper:

Zinc:

Copper continues to be the strongest amongst the base metals pack.

A breakdown below 128 will see zinc slide lower towards 124.50

Prices though, couldnt sustain above its resistance around 373 levels.

levels over the coming sessions. Intraday bounce towards 128.60

Rallies towards 374375 areas will face selling. A sustained break

129 areas are likely in the counter but selling can drag prices lower

above 377 will see prices move higher towards 381 levels. A break

again. Any major reversal is likely only on a breakout above 129.50

down below 368 will see prices correct towards 364 levels again.

levels.

June 29, 2015

EMKAY COMMOTRADE LIMITED

Daily Commodity Technical

Lead:
A decisive break down below 111 will see lead prices correct further towards 108.55/108 levels. Intraday pullback rallies will face resistance around
111.80112 levels. A reversal is likely only if prices close above 112.50 levels today. Failure to rebound today will see prices continue to slide lower
towards the levels mentioned above.

Nickel:
Nickel opened on a weak note and prices have broken down close to 4.50%. A close below 765 levels today will see prices move lower towards its next
support around 735730 areas. Sharp intraday pullback rallies can be seen from lower levels but fresh selling can be seen as prices rebound towards
765770 areas. Sell on rise.

Aluminium:
The pullback rallies in Aluminium couldnt sustain above 109 levels and prices have broken down below its immediate support levels around 105 levels.
A close below this support will see prices slide lower towards 103 and subsequently towards major support around 100.50 levels. Traders holding short
positions must continue to hold the same for the targets mentioned.

June 29, 2015

EMKAY COMMOTRADE LIMITED

Daily Commodity Technical

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June 29, 2015

EMKAY COMMOTRADE LIMITED