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Steady Indices & Heavy Sell-off in Gold Amid Fed's Cautious Approach Further

By Research Team Saturday, May 18, 2019
INDICES

DE30 Outlook

    • 3.32pm ISTD1
    • High12301
    • Low12147
    • Close12197

DE30 is trading at 12197 making a weekly-high 12301 & a weekly-low 11837. The mixed momentum can be seen in world indices as uncertainty prevails towards U.S-China trade war after U.S levied additional tariffs on $200 billion worth of Chinese goods. On the data front, the German Prelim GDP rate grew by 0.4% from 0.0% in the previous month & the ZEW Economic Sentiment reduced by 2.1 weaker against the expectation of a rise by 5.1. The trend in European shares widely depends upon forthcoming Parliamentary Elections which is to be held next week. As seen in the chart, slight buying may be suggested for the week as it moved up from support area of MA (20) & lower trend-line of channel pattern.

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Weekly Outlook

DE30

Intra Day
Near Day

Technical Levels

R3 13077
R2 12597
R1 12397
Turnaround 12117
S1 11917
S2 11637
S3 11157
By Research Team Saturday, May 18, 2019
COMMODITY

NATURAL GAS Outlook

    • 3.50pm ISTD1
    • High2.686
    • Low2.642
    • Close2.651

Natural Gas is trading at $2.651 making a weekly-high $2.686 & a weekly low $2.576. The Natural gas prices traded stronger through-out the week after demand increased as against the lower supplies due to escalating trade tensions between U.S & China. The Energy Information Administration (EIA) estimates showed a rise in Natural Gas inventory level by 106B higher than the previous figure 85B. This indicates excess storage of the commodity as compared earlier & hence, slightly pushed down the prices in later half of the week. The volatile Oil prices ahead of the OPEC meeting focusing on stabilizing Oil markets will remain crucial for its substitutes. Wait & watch strategy may be adopted for the week in Natural Gas.

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Weekly Outlook

Natural Gas

Intra Day
Near Day

Technical Levels

R3 2.857
R2 2.747
R1 2.699
Turnaround 2.637
S1 2.589
S2 2.527
S3 2.417