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12/03/2018

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Market Update (Energy): Crude oil may find support near 3950 and can move towards 4000 in MCX. Oil prices fell on Tuesday, extending falls from the previous day, as the relentless rise in U.S. crude output weighed on markets. U.S. crude oil production soared past 10 million barrels per day (bpd) in late 2017, overtaking output by top exporter Saudi Arabia. U.S. production is expected to rise above 11 million bpd by late 2018, taking the top spot from Russia, according to the International Energy Agency (IEA).

Market

Update

(Base

Metals): Three-month copper on the LME rose 0.3 percent to $6,934 a tonne, partially reversing a 0.7 percent fall on Monday after a rise in LME inventories. ShFE copper was trading flat at 52,030 yuan a tonne. Meanwhile Aluminium can take support near 134 in MCX.

Market Update (Bullions): Gold prices inched up on Tuesday as the dollar remained subdued and as investors waited for U.S. consumer price data later in the day to gauge the outlook for inflation and Federal Reserve policy. U.S. inflation expectations edged higher last month, with one measure hitting its highest level in a year, according to a Federal Reserve Bank of New York survey published Monday that adds to signs of price pressures. Turkey raised gold holdings by 8.75 tonnes to 590.997 tonnes in February 2018.

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12/03/2018

TECHNICAL ANALYST

GOLD

OUTLOOK: TREND: - UP RESISTANCE: - 30450, 30550. SUPPORT: - 30250, 30150. STRATEGY: - SELL ON HGIH.

TECHNICAL OUTLOOK

Gold daily chart continues in "Falling wedge� pattern. The last few sessions seems consolidated inside the channel. The market is expected to continue in bearish trend along with a small correction over positive momentum to retest the channel’s resistance slope line once again. The downside rally could test all the way through $13151305(30080-29830) levels in the upcoming sessions. Alternatively, if the market breaks above the key resistance level holding at $1330(30445) then it might turn to bullish. The upside rally could test $1335-1340(30580-30705) levels. Support holds at $1300(29705).

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12/03/2018

SILVER

OUTLOOK: TREND: - UP RESISTANCE: - 38900, 39100. SUPPORT: - 38500, 38300. STRATEGY: - SELL ON HIGH.

TECHNICAL OUTLOOK Silver daily chart continues in "Symmetrical triangle� pattern. The last sessions ended up consolidated after retesting the channel’s resistance slope line. The market is expected to continue in bearish momentum, once the same breaks below a key support holding at 38500. The downside rally could test all the way through 38250-38000 levels in the upcoming sessions. Alternatively, if the support holds strong then the market might retest the same and turn bullish once again. The upside rally could test 38750-39000 levels. Key resistance holds at 39000.

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12/03/2018

COPPER

OUTLOOK: TREND: - DOWN RESISTANCE: - 452.50,455. SUPPORT: -447.50, 445. STRATEGY: - SELL ON HIGH.

TECHNICAL OUTLOOK Copper hourly chart has formed "Falling channel� pattern. The last session ended up consolidated near the channel’s resistance slope line. The market is expected to continue in bearish momentum, once the same breaks below a key support holding at 448.50. The downside rally could test all the way through 446-444 levels in the upcoming sessions. Alternatively, if the support holds strong then the market might retest the same and turn to bullish. The upside rally could test 450-454 levels. Key Resistance holds at 454.

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12/03/2018

CRUDE OIL OUTLOOK: TREND: - DOWN RESISTANCE: - 4010, 4040. SUPPORT: - 3940, 3910. STRATEGY: SELL ON HIGH.

TECHNICAL OUTLOOK Crude Oil 4hr chart has formed "Falling wedge” pattern. The last session ended up bearish in trend after retesting the channel’s resistance slope line. The market is expected to continue in bearish, once the same breaks below the key support level holding at $61(3961). The downside rally could test all the way through $60-59(3896-3831) levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might turn to bullish. The upside rally could test $62-63(4026-4091) levels. Resistance holds at $63(4091).

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12/03/2018

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Daily commodity prediction report 13 03 2018 by tradeindia research  

The information given herein should be treated as only factor, while making investment decision. The report does not provide individually ta...

Daily commodity prediction report 13 03 2018 by tradeindia research  

The information given herein should be treated as only factor, while making investment decision. The report does not provide individually ta...

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