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24TH FEB TO 1ST MARCH.

2014

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BULLION
With the US adding just 16200 jobs in the nonfarm sector, the futures of crude oil closed lower on the Nymex on Friday. The data stoked gold futures higher and pulled the commodity out of a distress position and helped it cross the $1300 mark. Earlier this week we saw economic data that pointed towards a recovery, and that coupled with a strong dollar kept gold under pressure, Tom Power, a senior commodity broker at R.J. OBrien & Associates in Chicago said to Bloomberg. Gold had gone below the crucial support of $1300 following optimism about the US economy. Meanwhile data suggested that US unemployment rate touched 7.4% in July, according to US labor department. However, the data was not enough to propel crude oil futures further up even as some profit booking too took place.

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ENERGY
Crude oil prices in the global market were seen trading positive on strong manufacturing data from Europe, the United States and China. Also, Middle East tensions, disruption to crude oil production in Africa and maintenance activity in the North Sea were seen supporting the crude oil prices to certain extent. Concerns over supply disruptions in Iraq, Libya and Nigeria were also supported the prices. Brent crude oil futures traded above $110 per barrel while US crude oil futures crossed $108 per barrel on Friday. US crude oil futures for September delivery on NYMEX were seen trading down by 0.19% at $107.54 per barrel as of 05.41 PM IST on Friday. Meanwhile, the UK Market/CIPS Purchasing Managers Index (PMI) for the construction sector offers new hope that the UK economy is improving. UK recorded a strongest construction output growth since June 2010, led by surge in housing activity.

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BASEMETAL
The trend in copper futures for August delivery on India's Multi Commodity Exchange (MCX) is bullish and expected to trade with the trend for the day, according to our analyst at Commodity Online. For intra-day, support for the commodity is seen at 425.05 and 422.25 levels while resistance is seen at 432.65 and 434.35 levels, said John Godson, Technical Analyst at Commodity Online. MCX copper futures for August delivery were seen trading up by 1.14% at Rs.430.50 per kilogram as of 16.38 IST on Friday. Copper futures on Comex edged up on Friday and is seen trading bullish supported by firm global cues. Copper futures for September delivery on Globex platform of Comex was seen trading up by 0.63% at $ 3.185 per pound as of 04.51 PM IST on Friday. On Friday, copper touched to its peak level in more than a week as data releases from the United States, Europe and China shown a positive review on their respective economies.
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GOLD (5 APR.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 29300, 30600 : - 29400, 29100 : - BUY ON DIPS

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SILVER (5 MAR.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 48100, 48700 : - 46900, 46400 : - BUY ON DIPS

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CRUDEOIL (19 MAR)


OUTLOOK:
TREND : - CONSOLIDATE

RESISTANCE : - 6450, 6550 SUPPORT STRATEGY : - 6250, 6150 : - BUY ON DIPS

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COPPER (28 FEB.)


OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 457.00, 463.00 : - 443.00, 437.00 : - BUY ON DIPS

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GOLD SILVER COPPER CRUDE OIL NATURAL GAS PALLADIUM PLATINUM

1323.00 21.800 3.290 102.20 6.200 739.30 1427.60

USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD

62.1100 01.3735 102.510 00.8870 01.6620 01.1120

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www.TheEquicom.com +919200009266

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SCRIPT

R3

R2

R1

S1

S2

S3

GOLD SILVER CRUDEOIL COPPER

31200

30700

30300

29850

29400

28950

28550

49200 6700 459.50

48650 6550 456.50

48050 6450 453

47500 6350 450

46900 6250 447

46300 6100 443.50

45750 6000 440.50

LEAD

138.50

137

135

133

131

129

126.50

ZINC

133

132

129.50

128

125.50

124.50

122

ALIMINUM

113.50

111

109

107

105

103

101

NICKEL NATURAL GAS

929.50 476.50

920 436

904 407

895 366.50

879 337.50

869.50 297

854 268

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