DAILY MCX NEWSLETTER

11-NOV. -2013

THE EQUICOM PROFIT UPDATE: PLEASE CLOSE YOUR POSITION IN COPPER, OUR SL TRIGGERED www.TheEquicom.com 09200009266

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BULLION

BASE METAL

ENERGY

The Exchange Stabilization Fund is basically the funding arm of the Treasury - as spelled out on their website. By definition it means (and is confirmed by open admission) that they intervene across a broad range of asset classes. The legal basis of the ESF is the Gold Reserve Act of 1934. As amended in the late 1970s, the Act provides in part that "the Department of the Treasury has a stabilization fund consistent with the obligations of the Government in the International Monetary Fund (IMF) on orderly exchange arrangements and an orderly system of exchange rates. The Secretary, with the approval of the President, may deal in gold, foreign exchange, and other instruments of credit and securities. They use swaps and huge concentrated positions held by FED member banks to intervene in the gold market.

China has gone into copper refilling mode since May and there is potential for further restocking, if the country targets its previous copper stock levels. The base metal demand growth has been healthy supported by the power sector, said Frankfurt based Deutsche Bank in an e-mailed report.

MCX crude oil November delivery is expected to witness a recovery and traders may remain at buy position. Intra-day support for the commodity is seen at 5915 and 5875 levels while resistance is seen at 5970 and 6015 levels. US commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.6 mn barrels during the week

We believe that tight scrap availability earlier this year has been offset by record levels of concentrate imports and Chinese refined copper production reaching fresh all time highs, the bank said.

ending November 1, 2013 from the previous week. At 385.4 mn barrels, US crude oil inventories are above the upper limit of the average range for this time of year, according to a weekly stock-piles report released by the Energy Information Administration (EIA) on 6

Meanwhile, copper financing was seen playing an important role in driving demand for the base metal. Analysts expect copper financing may grow up further despite government's attempt to cub.

November. Total motor gasoline inventories decreased by 3.8 mn barrels last week and are in the upper half of the average range. Finished gasoline inventories decreased while blending components inventories increased last week. Distillate fuel inventories decreased by 4.9 mn barrels last week and are at the lower limit of the average range for this time of year, according to EIA estimates.

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BULLION
GOLD (5 DEC.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : -CONSOLIDATE : - 30000, 30200 : - 29500, 29300 : - SELL ON HIGHS

SILVER (5 DEC.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 48600, 49000 : - 47850, 47300 : - SELL ON HIGHSHIGH

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ENERGY
CRUDEOIL (19 NOV.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - BEARISH : - 6050, 6100 : - 5940, 5880 : - SELL ON HIGHS

NATURAL GAS (25 NOV.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 229.00, 234.00 : - 222.50, 216.00 : - SELL ON HIGHS

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BASE METAL

COPPER (29 NOV.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : -460.00, 463.00 : - 452.00, 448.50 : - SELL ON HIGHS

LEAD (29 NOV.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 136.30, 137.50 : - 133.50, 132.00 : - SELL ON HIGHS

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ZINC (29 NOV.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 121.00, 121.70 : - 118.50, 117.00 : - SELL ON HIGHS

ALUMINUM (29 NOV.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 114.50, 115.50 : - 111.50, 110.50 : - SELL ON HIGHS

NICKEL (29 NOV.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 888.50, 897.00 : - 876.50, 870.00 : - SELL ON HIGHS

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GOLD SILVER COPPER CRUDE OIL NATURAL GAS PALLADIUM PLATINUM

1287.05 21.350 03.259 94.65 03.572 748.00 1434.20

USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD

63.4300 01.3414 98.9650 00.9222 01.6016 01.0470

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