daily comex research report by epic research for 07 july 2014

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DAILY COMEX COMMODITY REPORT

07th JULY-2014

PRECIOUS METALS AND INDUSTRIAL METALS

COMMODITY UNITS PRICE CHANGE % CHANGE CONTRACT

COMEX GOLD USD/T OZ. 1321.30 0.70 0.05% AUG-14

GOLD SPOT USD/T OZ. 1320.23 1.15 0.09% N/A

COMEX SILVER USD/T OZ. 21.19 -0.01 -0.05% SEP-14

SILVER SPOT USD/T OZ. 21.13 0.00 0.00% N/A

COMEX COPPER USD/LB. 3.2690 -0.0110 -0.34% SEP-14

PALTINUM SPOT USD/T OZ. 1500.64 4.39 0.29% N/A

ENERGY COMMODITY FUTURES

COMMODITY UNITS PRICE CHANGE % CHANGE CONTRACT

CRUDE OIL(WTI) USD/BBL. 103.76 -0.3 -0.29% AUG-14

CRUDE OIL(BRENT) USD/BBL. 110.59 -0.41 -0.37% AUG-14

NY. NATURAL GAS USD/MMBTU 4.369 -0.037 -0.84% AUG-14

NY. HEATING OIL USD/GAL. 291.72 -1.12 -0.38% AUG-14


DAILY MARKET OUTLOOK

07th JULY-2014

COMMODITY SUPPORT-2 SUPPORT-1 PIVOT RESISTANCE-1 RESISTANCE-2

GOLD(AUG-14) 1317.23 1319.27 1321.63 1323.67 1326.03

SILVER(SEP-14) 21.04 21.11 21.20 21.27 21.36

WTICRUDEOIL(AUG-14) 103.35 103.56 103.84 104.05 104.33

NATURALGAS(AUG-14) 4.318 4.343 4.369 4.394 4.420

COPPER(SEP-14) 3.2457 3.2573 3.2717 3.2833 3.2977

LME BASE METALS OFFICIAL CASH PRICES ( $/MT ) LME WAREHOUSE STOCKS (INVENTORY)

METALS PRICE ( $/MT ) CHANGE % CHANGE METALS INVENTORY CHANGE (MT)

ALUMINIUM 1893.00 3.00 0.16% ALUMINIUM -9100

COPPER 7159.00 38.00 0.53% COPPER -550

LEAD 2156.00 -4.50 -0.21% LEAD UNCHANGED

ZINC 2236.00 6.00 0.27% ZINC -950

NICKEL 19385.00 -410.00 -2.07% NICKEL -402

TIN 22780.00 -70.00 -0.31% TIN UNCHANGED


DAILY SUPPORT & RESISTANCE

07th JULY-2014


INTERNATIONAL COMMODITY NEWS

07th JULY-2014

• Gold futures edged higher on Friday, but gains were expected to remain limited as Thursday's upbeat U.S. employment data continued to lend support to the U.S. dollar. On the Comex division of the New York Mercantile Exchange, gold for August delivery traded at $1,321.80 a troy ounce during European afternoon trade, up 0.09%. The August contract settled 0.77% lower on Thursday to end at $1,320.6 a troy ounce.

• Silver for September delivery inched rose 0.24% to trade at $21.188 a troy ounce, while copper for September delivery slid 0.38% to trade at $3.268 a pound.

• Crude oil futures were trading near one-month lows on Friday, as concerns over potential supply disruptions in the Middle East began to subside. On the New York Mercantile Exchange, U.S. Crude oil for delivery in August traded at $103.98 a barrel during European morning trade, down 0.08%. Prices dropped 0.40% on Thursday to settle at $104.06.

• The ICE Futures Exchange, Brent oil for August inched up 0.05% to trade at $111.06 a barrel, with the spread between the Brent and crude contracts standing at $7.08 a barrel.

• Natural gas futures rose on Thursday after a weekly U.S. supply report met market expectations. On the New York Mercantile Exchange, natural gas futures for delivery in August traded at $4.368 per million British thermal units during U.S. trading, up 0.24%. The commodity hit a session high of $4.409 and a low of $4.331. The August contract settled down 2.20% on Wednesday to end at $4.357per million British thermal units.

• Base metals prices were flat in quiet trading conditions in Friday's LME premarket, with the market digesting the previous day's run of data. The copper price at $7,155 per tonne was down $20 on Thursday's close, with just 3,200 lots having changed hands on Select so far. Stocks and cancelled warrants were both a net 550 tonnes lower at 156,500 tonnes and 27,250 tonnes respectively. The aluminium price at $1,926 was $10 lower although stocks fell 9,100 tonnes to 5,049,225 tonnes. Nickel remains stuck below $20,000 - it was last at $19,685, down $185, and having peaked at $19,889 earlier. Inventories were 402 tonnes lowerat 304,536 tonnes. The zinc price was at its strongest in 33 months on Thursday. While it has retreated from these highs, it remains strong at $2,240.25, up $1.25. Stocks were down 950 tonnes at 664,650 tonnes and cancelled warrants were 5,175 tonnes higher at 60,600 tonnes. The Lead price at $2,181 was down $15 while Tin declined $50 to $22,850 - there were no stock movements in either.


EPIC DAILY TOP PICKS

07th JULY-2014

WTICRUDEOIL-NYMEX DAILY CANDLESTICK CHART

TRADING STRATEGY :

WTICRUDEOIL-NYMEX has closed @ 103.74. If it breaks the level of 103.55, it can touch the level of 103.05 & 102.35 respectively. If it sustain

above the level of 104.60, it can touch the level of 105.10, 105.80 respectively.

SELL WTICRUDEOIL-NYMEX BELOW 103.55 TGTS 103.05, 102.35 SL 104.10.

BUY WTICRUDEOIL-NYMEX ABOVE 104.60 TGTS 105.10, 105.80 SL 104.55.


TODAY'S ECONOMIC EVENTS

07th JULY-2014

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daily comex research report by epic research for 07 july 2014

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