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DAILY COMEXCOMMODITY
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Support _Resistance
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Daily Candlestick
Date– 15 Feb
COPPER -2375
LEAD -50
ZINC -3525
TIN 0
DAILY COMEX
Iforex Market Insight
COMMODITY
By EpicREPORT
Research
BYMalaysia
EPIC RESEARCH SINGAPORE www.epicresearch.sg
www.epicresearch.my
DAILY COMEX COMMODITY REPORT
Date– 15 Feb
The Tennessee Valley Authority voted on Thursday to close two aging coal-fired power plants, including one supplied
by a company led by a major supporter of President Donald Trump, who had urged the U.S.-owned utility to keep it
open. "It is not about coal. This decision is about economics," said President and Chief Executive Bill Johnson, who is
retiring from the TVA.
Oil prices rallied on Friday, with Brent crude futures hitting fresh 2019 highs amid U.S. sanctions against Venezuela and
Iran and supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC). Brent pushed above $65 per
barrel for the first time in 2019, before edging back to $64.91 a barrel by 0143 GMT. That was still 0.5 percent above
the last close.
ECONOMY NEWS
There is a one-in-four chance of a U.S. recession in the next 12 months, a scenario that should keep the Federal Re-
serve from raising interest rates next month, according to a Reuters poll of economists who now expect only one rate
hike this year. Given a global economic slowdown and a dimming outlook for U.S. growth, economists said the Fed's
tightening cycle will likely draw to a halt before July.
U.S. fund investors added another $18.7 billion to money market funds during the latest week, likely putting the low-
risk funds on track for a third straight quarter of positive demand, Lipper data showed. Money market funds based in
the United States have taken in nearly $29 billion so far in 2019 after pulling in nearly $209 billion during the last half of
2018, Lipper said. The research service's latest data covered the seven days through Feb. 13
In January, the Federal Reserve delivered what investors took as a kind of love letter, a rate-hike pause that sent stock
markets soaring. On Valentine's Day, U.S. central bankers offered tender missives of a different sort. "Roses are red,
Blah blah blah blah," Minneapolis Federal Reserve Bank President Neel Kashkari, one of the Fed's most ardent doves,
tweeted early on Thursday. "Blah blah blah blah blah, There's still slack in the labor market." The Chicago Fed went for
a more Shakespearean style, tweeting, "To raise, or not to raise? That is the question.".
ECONOMIC CALENDAR
Time Cur. Event Forecast Previous
TRADING STRATEGY :
BUY GOLD ABOVE 1316 TGT 1321 1331 SL BELOW 1306
SELL GOLD BELOW 1306 TGT 1301 1291 SL ABOVE 1316
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