Market Outlook:

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Associate of DOHA BANK DOHA BROKERAGE

COMMODITY DAILY REPORT Wednesday Aug 19 2015

NEWS Market Outlook



Crude oil prices eased in early Asia on Wednesday despite slightly upbeat estimates of U.S. stockpiles from an industry group as oversupply worries weigh on markets globally.



U.S. oil prices fell towards six-year lows on Tuesday after stock markets tumbled in China, the world's largest energy consumer, adding to worries about global fuel demand at a time of heavy oversupply.



Chinese stocks fell more than 6 percent on Tuesday as the yuan weakened against the dollar, raising fears that Beijing may further devalue the currency. Such a move could decrease China's consumption and import levels.



Industrial metals, including copper, also traded near six-year lows, adding to bearish market sentiment.



Slowing factory activity in China is adding to headwinds for copper demand, with orders from makers of air conditioners and refrigerators not expected to pick up until factories return after summer maintenance from mid-September.



Copper, China demand concerns and a worsening technical picture pointed to further losses.



Gold was steady in Asian trade on Wednesday as investors awaited the minutes from the Federal Reserve's meeting last month for clues on whether the U.S. central bank would raise interest rates as early as next month.



The imminent hike in U.S. interest rates would be the first since 2006 and has dimmed the appeal of noninterest bearing assets such as gold.



U.S. natural gas prices slumped to the lowest level in more than five weeks on Tuesday, as forecasts for cooler weather across key consumption regions of the U.S. in the week ahead dampened demand expectations for the fuel.



Data last week showed that natural gas storage in the U.S. rose by 65 billion cubic feet, above expectations for an increase of 55 billion.



The Shanghai Composite tumbled 6% in volatile trade on Tuesday, with losses accelerating towards the end of the session despite fresh efforts by the government to calm the market.

 NYMEX Crude June has resistance at $ 44 levels and support is seen at $ 40 levels. MCX Crude Aug has resistance at 2800 levels and support is seen at 2700 levels.

 COMEX Gold June has resistance at $1120

levels and support is at $1100 levels. MCX Gold Oct has resistance at 26200 levels and support is seen at 25600 levels.

 COMEX Silver May has resistance at $15.50

levels and support is seen at $15 levels. MCX Silver Sep has resistance at 36000 and support is seen at 35000 levels.

 COMEX Copper May has resistance at $2.6

levels and support is seen at $2.1 levels. MCX Copper Aug has resistance at 335 levels and support is seen at 327 levels.

Economic Indicators for the day: (IST)

US

 Crude Oil Inventories  Core CPI (MoM) (Jul)  FOMC Meeting Minutes

(20:00) (18:00) (23:30)

Commodity Pivot Table 19.08.2015 Resistance Levels Commodity

Expiry date

ALUMINIUM

30-Sep-15

ALUMINIUM

31-Aug-15

CARDOMOM

15-Oct-15

CARDOMOM

15-Sep-15

COPPER

30-Nov-15

COPPER

31-Aug-15

CRUDEOIL

21-Sep-15

CRUDEOIL

19-Aug-15

GOLD

4-Dec-15

GOLD

5-Oct-15

GOLDM

5-Oct-15

GOLDM

4-Sep-15

LEAD

30-Sep-15

LEAD

31-Aug-15

NATURALGAS

25-Sep-15

NATURALGAS

26-Aug-15

NICKEL

30-Sep-15

NICKEL

31-Aug-15

SILVER

4-Dec-15

SILVER

4-Sep-15

SILVERM

30-Nov-15

SILVERM

31-Aug-15

ZINC

30-Sep-15

ZINC

31-Aug-15

Pivot

R1

R2

R3

Support levels R4

S1

S2

S3

S4

102.7

103.2

104.0

104.5

105.2

102.0

101.5

100.7

100.2

101.0

101.6

102.4

103.0

103.8

100.2

99.6

98.8

98.2

800.5

809.9

824.5

833.9

848.5

785.9

776.5

761.9

752.5

794.8

807.0

825.2

837.4

855.6

776.6

764.4

746.2

734.0

337.9

341.4

346.0

349.5

354.1

333.3

329.8

325.2

321.7

332.0

335.6

340.4

344.0

348.7

327.3

323.7

318.9

315.3

2817.0

2860.0

2884.0

2927.0

2951.0

2793.0

2750.0

2726.0

2683.0

2759.7

2804.3

2829.7

2874.3

2899.7

2734.3

2689.7

2664.3

2619.7

26189.7

26302.3

26390.7

26503.3

26591.7

26101.3

25988.7

25900.3

25787.7

25979.3

26103.7

26199.3

26323.7

26419.3

25883.7

25759.3

25663.7

25539.3

25996.3

26117.7

26221.3

26342.7

26446.3

25892.7

25771.3

25667.7

25546.3

25864.3

25996.7

26103.3

26235.7

26342.3

25757.7

25625.3

25518.7

25386.3

112.2

113.1

114.8

115.7

117.4

110.5

109.6

107.9

107.0

111.1

112.1

113.9

114.9

116.7

109.3

108.3

106.5

105.5

181.2

183.0

184.9

186.7

188.6

179.3

177.5

175.6

173.8

177.6

179.3

181.1

182.8

184.6

175.8

174.1

172.3

170.6

690.6

697.9

709.6

716.9

728.6

678.9

671.6

659.9

652.6

684.1

691.5

703.2

710.6

722.3

672.4

665.0

653.3

645.9

35809.0

36317.0

37093.0

37601.0

38377.0

35033.0

34525.0

33749.0

33241.0

35061.7

35572.3

36350.7

36861.3

37639.7

34283.3

33772.7

32994.3

32483.7

35842.3

36349.7

37132.3

37639.7

38422.3

35059.7

34552.3

33769.7

33262.3

35097.3

35628.7

36456.3

36987.7

37815.3

34269.7

33738.3

32910.7

32379.3

117.5

118.8

121.1

122.4

124.7

115.2

113.9

111.6

110.3

116.8

118.0

120.4

121.6

124.0

114.4

113.2

110.8

109.6

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