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Global View of NTD as on 17th June 2013

Enclosed is our view on Global Assets including Currencies, Stocks & Commodities...




USDINR



NYMEX CRUDE

OIL: Caution
Crude Oil has given a fresh medium term breakout signal with a close of 97.84 and if it is able to close above 98.25, we can see a very sharp up move with multiple stop losses triggering as it had long consolidation for last few months and it can inch up to 105 levels. Support of this rally is at 96.20. Brent has moved up from its trading range of 100 to 105 and has closed at 105.85. Brent has support at 104.75 and a close above 106 can reach 110. This would have a major impact as the inflationary pressures would increase due to high oil prices along with depreciation in Rupee. Enclosed is the daily chart of Crude Oil wherein a Buy was generated at 92 levels and is still support by the strong green support lines.

GOLD
Gold closed at 1390 flat compared to last week where it closed at 1382. Week on week, gold has been successful at closing higher above 1380 for past 4-5 weeks. We can see demand building around 1358 levels. We expect a bottoming out process between 1360 and 1380 for Gold. We observe a small triangle formation between1337 and 1487. Weekly close above 1400 level can lead to 1520.


STOCK MARKETS

US
Dow Jones made a higher low this week at 14955 compared to previous week low of 14844. We can see constant supply at 15300 levels. A close below 14840 would lead to 2 month reversal and drag down the Dow Jones to 13700 to 14000 levels with a minor halt at 14450/500.

Japan
Japanese markets opened high this week however could not sustain and fell to a low of 12401. It closed 12686 as predicted by us. It has a support at 11800 and resistance at 13600 levels. It will remain in this range for the coming week.

China
Shanghai market closed at 2162 breaking the medium term support of 2250. Next support is now at 2060 below which it can go up to 2025. The Shanghai index has fallen 11% from this year’s high on Feb. 6 on concern economic growth is slowing.

 


(17.06.2013)

























Disclaimer:All information given here is largely based on technical analysis which is highly dynamic in nature and relevant only at a particular point of time. Users are advised to pursue these recommendations only at their own risk and first consult their personal investment advisor when making investment decisions. We are not liable and we take no responsibility for any loss that you incure by trading/investing on our recommendations. these study are posted for educational purpose only.

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