Crude Oil Report and Mcx Aluminum report Report: 7th September 2018

MCX ALUMINUM REPORT

Aluminum September 18 (previous day close/CMP Rs.146.05):

Bullish over 147.30 with 150.20 and 152.10 as price target.

Bearish below 145.30 with 143.20 and 141.30 as price target.

Neutral Zone: 145.10-147.80

One Support: 145.30

One Resistance: 147.30

o      Sell off will be there only below 145.30.

o      Aluminum needs to trade over 147.30 to zoom.

o      Remain on the sidelines today.

CRUDE OIL REPORT

Econ0mics & Trump trade wars

Trump and his Chinese trade tariff will be inflationary. The pace of US interest rate hike will be faster if Trump imposes new $200 billion tariff imports on China.

Crude oil peak demand for the year will be over by Monday. If global trade uncertainty remains at current levels till Christmas and New Year, then the travel and tourism industry will suffer the most. Crude oil will also crash if global tourism industry suffers during Christmas.

NYMEX CRUDE OIL (SEPTEMBER)  - current price $67.72

Bullish over $69.40 with $70.40 and $71.80 as price target

Bearish below $68.60 with $67.00 and $65.90 as price target

Trading strategy: Buy at $65.90 stop loss $64.60 for $69.80

·        Crude oil can fall to $65.50 as long as it trades below $69.00.

·        Small rise will be there only over $69.00.

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