daily market outlook lme inventory & support resistance ... · largest weekly fall since 2008....
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Daily Market Outlook
LME Inventory & Support –Resistance
News & Daily Candlestick
Daily Comex Report
DAILY COMEX COMMODITY REPORT BY EPIC RESEARCH SINGAPORE
COMMODITY UNIT PRICE CHANGE % CHANGE CONTRACT
COMEX GOLD USD/T OZ. 1547.96 +18.47 +1.22% 20-APR
COMEX SILVER USD/T OZ. 14.715 +0.215 +1.50% 20-MAY
COMEX COPPER USD/LB. 2.451 -0.056 -2.23% 20-MAY
PLATINUM USD/T OZ. 765.50 -1.10 -0.14% 20-APR
COMMODITY UNIT PRICE CHANGE % CHANGE CONTRACT
CRUDE OIL(WTI) USD/BBL. 31.59 -0.52 -1.62% 20-APR
CRUDE OIL(BRENT) USD/BBL. 32.85 -1.00 -3.01% 20-MAY
NY. NATURAL GAS USD/MMBTU 1.824 -0.061 -3.24% 20-APR
NY. HEATING OIL USD/GAL. 1.0903 -0.0748 -6.42% 20-APR
METALS INVENTORY CHANGE (MT)
ALUMINIUM -7500
COPPER -3750
LEAD 0
NICKEL +6
ZINC -300
DAILY COMEX REPORT
Date– 16-MARCH-2020
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PRECIOUS METALS AND INDUSTRIAL METALS
ENERGY COMMODITY FUTURE
LME WAREHOUSE STOCK (INVENTORY)
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COMMODITY SUPPORT –2 SUPPORT-1 PIVOT POINT RESISTANCE-1 RESISTANCE-2
GOLD 1490.28 1524.06 1549.38 1583.16 1608.48
SILVER 14.303 14.541 14.893 15.131 15.483
WTI CRUDEOIL 28.82 29.82 31.15 32.15 33.48
NATURALGAS 1.761 1.787 1.820 1.846 1.879
COPPER 2.355 2.396 2.454 2.495 2.553
Oil extended losses on Monday as an emergency rate cut by the U.S. Federal Reserve failed to soothe
global financial markets panicked by the rapid spread of the coronavirus while a price war rages on
between top producers
Brent Crude fell $1.13 to $32.72 a barrel by 0230 GMT, tumbling after last week's plunge of 25%, the
largest weekly fall since 2008. The front-month price opened at a high of $35.84 but slipped to a low of
$31.63.U.S. Crude was at $31.01, down 72 cents after slipping below $30 earlier in the session, despite
U.S. President Donald Trump's pledge to fill strategic oil reserves in the world's largest oil consumer "to
the top".
The U.S. Fed slashed interest rates on Sunday in its second emergency cut this month, and said it would
expand its balance sheet by at least $700 billion in coming weeks in a bid to ease tension in financial
markets.
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DAILY SUPPORT & RESISTANCE
INTERNATIONAL COMMODITY NEWS
DAILY COMEX REPORT
Date– 16-MARCH-2020
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Time Cur. Event Forecast Previous
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ECONOMIC CALENDAR
DAILY COMEX REPORT
Date– 16-MARCH-2020
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GOLD COMEX -DAILY CANDLESTICK CHART
•The OPEC meeting ended with ministers approving additional production cuts
for Q1 2020, two delegation sources told Russian news outlet TASS on Thursday
afternoon.The cuts for the OPEC+ group which currently stand at 1.2 million bpd,
will be increased to 1.7 million bpd, the sources said, per the monitoring
committee’s earlier recommendation, which OPEC today approved.
TRADING STRATEGY :
BUY GOLD ABOVE 1560 TGT 1570 1580 SL BELOW 1548
SELL GOLD BELOW 1540 TGT 1530 1520 SL ABOVE 1552
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DAILY COMEX REPORT
Date– 16-MARCH-2020
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DAILY COMEX REPORT
Date– 16-MARCH-2020