daily comex research report by epic research for 20 august 2014
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DAILY COMEX COMMODITY REPORT
20th AUGUST-2014
PRECIOUS METALS AND INDUSTRIAL METALS
COMMODITY UNITS PRICE CHANGE % CHANGE CONTRACT
COMEX GOLD USD/T OZ. 1297.1 0.40 0.03% DEC-14
COMEX SILVER USD/T OZ. 19.45 0.04 0.20% SEP-14
COMEX COPPER USD/LB. 3.0920 0.0030 0.09% SEP-14
PALTINUM USD/T OZ. 1440.70 1.40 0.10% OCT-14
ENERGY COMMODITY FUTURES
COMMODITY UNITS PRICE CHANGE % CHANGE CONTRACT
CRUDE OIL(WTI) USD/BBL. 92.85 -0.01 0.02% OCT-14
CRUDE OIL(BRENT) USD/BBL. 101.53 -0.12 -0.11% OCT-14
NY. NATURAL GAS USD/MMBTU 3.858 -0.018 -0.46% SEP-14
NY. HEATING OIL USD/GAL. 2.82 0.00 -0.13% SEP-14
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DAILY MARKET OUTLOOK
20th AUGUST-2014
COMMODITY SUPPORT-2 SUPPORT-1 PIVOT RESISTANCE-1 RESISTANCE-2
GOLD(DEC-14) 1296.57 1296.94 129737.00 1297.74 1298.17
SILVER(SEP-14) 19.43 19.45 19.46 19.48 19.49
WTICRUDEOIL(OCT-14) 92.78 92.80 92.83 92.84 92.88
NATURALGAS(SEP-14) 3.843 3.853 3.863 3.873 3.883
COPPER(SEP-14) 3.0830 3.0880 3.0910 3.0960 3.0990
LME BASE METALS OFFICIAL CASH PRICES ( $/MT ) LME WAREHOUSE STOCKS (INVENTORY)
METALS PRICE ( $/MT ) CHANGE % CHANGE METALS INVENTORY CHANGE (MT)
ALUMINIUM 1857.00 -9.50 -0.51% ALUMINIUM -8075
COPPER 6936.50 46.00 0.67% COPPER 4075
LEAD 2140.50 1.00 0.05% LEAD -75
ZINC 2180.00 10.50 0.48% ZINC -875
NICKEL 18625.00 345.00 1.89% NICKEL -306
TIN 22425.00 -175.00 -0.77% TIN 120
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DAILY SUPPORT & RESISTANCE
20th AUGUST-2014
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INTERNATIONAL COMMODITY NEWS
20th AUGUST-2014
• Oil prices carried Monday's selloff into Tuesday as investors ignored upbeat U.S. data, ditching the commodity on perceptionsthat the global market is awash in crude at a time geopolitical pressures are waning. In the New York Mercantile Exchange,West Texas Intermediate crude oil for delivery in October traded down 1.06% at $92.76 a barrel during U.S. trading. New York-traded oil futures hit a session low of $92.65 a barrel and a high of $94.37 a barrel. The October contract settled down 1.65%at $93.75 a barrel on Monday.Nymex oil futures were likely to find support at $91.43 a barrel, the low from Jan.13 , andresistance at $95.14 a barrel, Monday's high.
• Forecasts for rising temperatures across the U.S. Midwest sent natural gas prices rising on Tuesday. On the New YorkMercantile Exchange, natural gas futures for delivery in September traded at $3.897 per million British thermal units duringU.S. trading, up 2.76%. The commodity hit a session low of $3.781, and a high of $3.915.
• Gold prices dipped on Tuesday after upbeat U.S. housing and consumer inflation cemented expectations for the FederalReserve to chip away at its ultra-loose monetary policies that have supported the precious metal for years On the Comexdivision of the New York Mercantile Exchange, goldfutures for December delivery traded at 1,296.70 a troy ounce during U.S.trading, down 0.20%, up from a session low of $1,295.00 and off a high of $1,303.30.The December contract settled down0.53% at $1,299.30 on Monday.
• Copper futures edged higher on Tuesday, as market players looked ahead to the release of key U.S. data later in the sessionfor further indications on the strength of the economy. On the Comex division of the New York Mercantile Exchange, copper forSeptember delivery inched up 0.24%, or 0.7 cents, to trade at $3.117 a pound during European morning hours.Prices held in anarrow range between $3.106 and $3.122 a pound.
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EPIC DAILY TOP PICKS
20th AUGUST-2014
GOLD COMEX -DAILY CANDLESTICK CHART
TRADING STRATEGY :
BUY GOLD COMEX ABOVE 1300 TGT 1304,1309 SL1295
SELL GOLD COMEX BELOW 1292 TGT 1288,1283 SL1297
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20th AUGUST-2014