- Epic Research Malaysia

DAILY COMEX COMMODITY REPORT
2nd MARCH 2015
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DAILY MARKET OUTLOOK
2nd MARCH 2015
PRECIOUS METALS AND INDUSTRIAL METALS
COMMODITY
UNITS
PRICE
CHANGE
% CHANGE
CONTRACT
COMEX GOLD
USD/T OZ.
1,222.10
9.00
0.73%
APR-15
COMEX SILVER
USD/T OZ.
16.748
0.190
1.15%
MAY-15
COMEX COPPER
USD/LB.
2.696
0.007
0.28%
MAY-15
PALTINUM
USD/T OZ.
1,191.00
2.30
0.19%
APR-15
ENERGY COMMODITY FUTURES
COMMODITY
UNITS
PRICE
CHANGE
% CHANGE
CONTRACT
CRUDE OIL(WTI)
USD/BBL.
49.39
-0.38
-0.75%
APR-15
CRUDE OIL(BRENT)
USD/BBL.
62.24
0.03
0.05%
APR-15
NY. NATURAL GAS
USD/MMBTU
2.697
-0.014
-0.52%
APR-15
NY. HEATING OIL
USD/GAL.
1.9694
0.0045
0.23%
APR-15
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DAILY SUPPORT & RESISTANCE
2nd MARCH 2015
COMMODITY
SUPPORT-2
SUPPORT-1
PIVOT
RESISTANCE-1
RESISTANCE-2
GOLD(APR-15)
1211.03
1212.46
1213.83
1215.26
1216.63
SILVER(MAY-15)
16.532
16.578
16.604
16.650
16.676
WTICRUDEOIL(APR-15)
49.06
49.22
49.38
49.54
49.70
NATURALGASAPR -15)
2.679
2.699
2.712
2.732
2.745
COPPER(MAY-15)
2.691
2.697
2.703
2.710
2.715
LME BASE METALS OFFICIAL CASH PRICES ( $/MT )
LME WAREHOUSE STOCKS (INVENTORY)
METALS
PRICE ( $/MT )
CHANGE
% CHANGE
METALS
INVENTORY CHANGE (MT)
ALUMINIUM
125.70
-0.40
-0.32%
ALUMINIUM
-7725
COPPER
415.55
8.45
2.08%
COPPER
1350
LEAD
125.95
1.80
1.45%
LEAD
1100
ZINC
139.60
1.70
1.23%
ZINC
-1675
NICKEL
961.00
16.70
1.77%
NICKEL
1080
TIN
564.00
-4.10
-0.72%
TIN
unch
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INTERNATIONAL COMMODITY NEWS
2nd MARCH 2015
•
Gold prices gained in Asia on Monday after data from around the region since the weekend that investors noted mostly favored a lowinterest rate environment, but also showed upbeat trends. The HSBC China final manufacturing index for February rose to 50.7 into the
expansion zone and above the flash reading of 50.1.The People's Bank of China cut its benchmark interest rate by a quarter percentage
point to 5.35%.Also at the weekend, the February China Federation of Logistics and Purchasing (CFLP) manufacturing PMI improved for
the first time in seven months, despite the Chinese New Year holiday, but remained just below the 50 mark, indicating that the sector
contracted for a second straight month. The index rose to 49.9 in February from 49.8 in January.
•
Oil fell about 1 percent on Monday after posting its first monthly rise since June, pressured by continued weakness in China's vast
manufacturing sector and higher Libyan crude output. The Chinese central bank cut benchmark lending and deposit rates a day before it
released official data that showed a second consecutive month of shrinking manufacturing activity for February."While the Chinese New
Year is impacting the numbers, the second consecutive sub-50 reading for the Chinese manufacturing PMI suggests all is not well,"
analysts at ANZ said in a report. The bank expects Beijing to lower the country's growth target to 7 percent this year in the upcoming
National People's Congress, down from 7.5 percent last year. Slower economic growth curbs oil demand at the world's largest energy
consumer.
•
U.S. natural gas futures ended Friday's session close to a two-week low, as extended forecasts called for warmer weather across the
majority of the U.S. in the second week of March. On the New York Mercantile Exchange, natural gas for delivery in April fell to $2.684
per million British thermal units, the lowest level since February 13, before ending at $2.711 by close of trade, up 1.4 cents, or 0.52%.
Futures were likely to find support at $2.680 per million British thermal units, the low from February 13, and resistance at $2.888, the
high from February 26.Bearish speculators are betting on the warm weather reducing late-winter demand for the heating fuel.
•
Crude oil prices dipped in Asia on Monday with investors focused on slow demand prospects even as China moved aggressively at the
weekend to kick start growth underlined by upbeat data. West Texas Intermediate oil futures fell 0.83% to $49.35 a barrel on the New
York Mercantile Exchange. The HSBC China final manufacturing index for February rose to 50.7 into the expansion zone and above the
flash reading of 50.1.
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EPIC DAILY TOP PICKS
2nd MARCH 2015
GOLD COMEX -DAILY CANDLESTICK CHART
TRADING STRATEGY :
TRADING STRATEGY :
BUY GOLD ABOVE 1223.75 TARGET 1228.75 1234.75 SL 1217.75
SELL GOLD BELOW 1216 TARGET 1211 1205 SL 1222
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TODAY'S ECONOMIC EVENTS
2nd MARCH 2015
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2nd MARCH 2015
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