Return to: Finance News

Commodity Research Report Ways2Capital 16 Jan 2018



BULLION
Gold futures rose to the highest since November 9 2016 in American trade as the
dollar index dipped to September 8 lows following a basket of data from China the
world's largest metals consumer and the US the world's largest economy.Earlier US
data showed US retail sales rose 0.4% m/m in December slowing down sharply
from 0.9% in November revised from 0.8% while analysts expected a 0.5%
increase.Core sales rose 0.4% besting expectations of 0.3% while still sharply down
from November's 1.3% increase, revised from 1%.US consumer prices rose 0.1% in
December in line with expectations slowing down from 0.4% in November.

BASE METALS

Base metas prices are starting to work higher after generally drifting since the start
of the year but overhead tails on daily candlesticks in recent days does suggest
there is overhead selling around to.Nickel and tin have been the two metals that
have held up the best this week with nickel setting a fresh two and half year high at
$ 13,200 per tone. Perhaps continued focus on cobalt scarcity and a pressing need
to use more nickel some long term stratgic investment buying .we remain quietly
bullish for the base metals complex and see the longer term outlook as being
positive and traders may well continue to front run that .we expect dips to remain
well supported as seems to have been the case in recent days.

ENERGY

Oil futures tilted lower in American trade, still hovering near three-year highs,
even as the dollar index declined to the lowest since September 8, following a
basket of data from China, the world's largest energy importer, and the US, the
world's largest energy consumer. On Wednesday, the Energy Information
Administration released its report on US crude stocks, showing a decline of 4.9
million barrels in the week ending January 5, passing expectations of a 3.9M drop,
and adding to the 7.4M drop in the previous reading, with total stocks now
reaching 419.5 million barrels. Gasoline stocks rose 4.1 million barrels, while
distillate stocks, including heating fuel, rose 4.3 million barrels, remaining within
the medium range on average in this time of year. Otherwise, UAE energy minister
Suhail Al Mazroui said in earlier remarks that global demand growth was surprising
last year, while expecting full compliance with the deal to cut output by 1.8 million
bpd in cooperation between OPEC and Russia.

SPICES

The Turmeric is in long medium short medium term bull phase .Currently
Turmeric is in strong down trend with good momentum but volume is
unsatisfactory The open interest is not increasing with trend . Noting point is
selling at lower levels seems decreasing. The oscillator is showing sell signal
For short term Turmeric is in sell position.NCDEX Mar Jeera fall more than
2.5% last week on expectation that jeera production may be higher in coming
season on reports of higher acreage of cumin in the current season.



OIL & OILSEEDS

Soy bean futures fell nearly one percent in American trade to September 13
lows, as the dollar index dipped for the first time in four sessions, following
earlier data from China, the world's largest soy bean importer, and the US,
the worl://d's largest producer and exporter. As of 08:58 GMT, soy bean
futures due on March 15 shed 0.91% to $9.5500 from the opening of
$9.6375, while the dollar index slipped 0.22% to 92.32 from the opening of
92.53.Mustard Apr futures closed lower last week tracking weak physical
demand. Market is still expecting for some demand side fundamentals as
downside looks limited.

GUAR COMPLEX

Guar futures are expected to trade mixed to higher this week as rally in crude
oil prices is likely to boost up export demand of gum which may help prices to
recover during today’s session. Oil drillers in US are expected to increase their
drilling activities due to expanding profit margin supported by surging crude
oil prices which may push up the export demand of gum from India as gum is
used as major component during hydraulic fracturing technique used in oil
drilling activities.

OTHERS

Overall trend of the Chana is bearish for medium-long term .Currently Chana
is in strong down trend and the trend is supported with good volume The
open interest is not increasing with trend.The oscillator is showing sell signal
For short term Chana is in sell position. Currently Chana is in position Chana
has crossed the high but the trend was not strong and sellers was at high so
for short term better buy above 4270.4 with stop at 3810.0 The oscillator is
showing SELL signal.The Cotton seed oil cake akola is in perfect up trend
.Currently Cotton seed oil cake akola is in strong up trend and the trend is
supported with good volume The open interest is not increasing with trend
.The Cotton seed oil cake akola is now trading in overbought level.

Calls of the Week (MCX)

SILVER
Silver futures rose nearly one percent in American trade away from late-2017 lows for the second session, as the dollar
index plumbed the lowest since September 8, following earlier data from China, the world's largest metals consumer,
and the US. Investors are still interested in Silver. Currently Silver is trading sideways on higher level. Recently market
has been broken its trading channel on upside and sustaining above it. Also RSI sustaining in overbought zone. Trades
can follow the buy on dips strategy.

For Quick Trial – 08962000225
Or mail us here: info@ways2capital.com or visit http://www.ways2capital.com/free-trial.php
Contact 0731-6626222
Toll Free – 1800-3010-2007
Give a Missed Call for Free Trial - 09699997717
For Reports And Tracksheets - http://www.ways2capital.com/downloads ...

News Release: Commodity Research Report Ways2Capital 16 Jan 2018
Submitted on: January 16, 2018 07:43:29 AM
Submitted by: Vijay
On behalf of: www.ways2capital.com
advertisement