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17/05/2018

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Energy:

Crude oil may open in green and extend yesterday gains as it can take support near 4780 and recover towards 4850 in MCX. Oil prices firmed on Thursday, with Brent crude creeping ever closer to $80 per barrel, a level it has not seen since November 2014, as supplies tighten while demand remains strong. Brent was "now threatening to break through $80 per barrel as geopolitical risks continues to support prices, (and) an unexpected fall in inventories in the U.S. got investors excited yesterday.

Base Metals: In base metals copper and zinc along with nickel can show lower level buying .Foreign direct investment into China in April fell 1.1 percent year-on-year to 59.24 billion yuan ($9.31 billion), China's Ministry of Commerce said. Copper may take support near 460 and can recover towards 466. The United States and China launch trade talks on Thursday in a bid to avert a damaging tariff war, with the White House's harshest China critic relegated to a supporting role, senior Trump administration officials said on Wednesday.

Bullions

Bullion counter may witness some

short covering on expected increase in jobless claim figures later today and slight profit booking in greenback. Gold prices were mostly steady on Thursday after touching their lowest level this year in the previous session, with the U.S. dollar hovering below its 201 8peak. The dollar index which measures the greenback against a basket of six major currencies eased 0.1 percent to 93.315, after hitting the highest level for the year in the last session. On domestic bourses weakness in local currency has capped the downside to larger extent.

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17/05/2018

TECHNICAL ANALYST

GOLD OUTLOOK: TREND: - UP

TECHNICAL OUTLOO

RESISTANCE: - 31050, 31150 SUPPORT: - 30850, 30750

STRATEGY: - BUY ON LOW. Gold daily chart has formed “Rising channel” pattern. The la bearish near the channel’s support slope line. The market i channel’s support slope line and turn bullish. The upside ra through 31150-31300 levels in the upcoming sessions. Alte below Indore a key support holding at 30950 then it might turn bea 301, 3rd Floor, Mangal City, Vijay Nagar, Toll Free : 18003157801 downside rally could test 30850-30750 levels. Key resistan


17/05/2018

SILVER

OUTLOOK: TREND: - UP RESISTANCE: - 40100, 40300 SUPPORT: - 39700, 39500 STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK Silver daily chart has formed “Symmetrical triangle” pattern. The last few sessions ended up bearish in trend retesting the channel’s resistance slope line. The market is expected to continue in bearish momentum, once the same breaks below the key support holding at 39800. The downside rally could test all the way through 39700-39500 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 40150-40500 levels. Key resistance holds at 40500. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801


17/05/2018

COPPER

OUTLOOK: TREND: - UP RESISTANCE: - 465.50,468. SUPPORT: -460.50, 458. STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK Copper daily chart has formed “Ascending broadening wedge” pattern. The last session ended up retesting the channel’s support slope line. The market is expected to continue in bullish momentum, testing all the way through 464-466 levels in the upcoming sessions. Alternatively, if the market breaks below the key support holding at 459 then it might turn bearish once again. The downside rally could test 457-455 levels. Key resistance holds at 466.

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17/05/2018

CRUDE OIL OUTLOOK: TREND: - UP RESISTANCE: - 4880, 4910. SUPPORT: - 4820, 4790 STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK Crude oil daily chart has formed “Rising wedge” pattern. The last session ended up bearish in trend but consolidated inside the channel. The market is expected to retest the channel’s support slope line and turn bullish. The upside rally could test all the way through 4850-4900 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 4780 then it might continue in bearish momentum. Key resistance holds at 4900.

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17/05/2018

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Daily commodity prediction report 17 05 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 17 05 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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