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07/03/2018

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07/03/2018

Market Update (Energy): Crude oil may open lower as surge in stock positions in API data dragged the price lower. Crude oil may test 4020 in MCX .Oil prices fell on Wednesday, pulled down by weaker share markets after a key advocate for free trade in the U.S. government resigned, triggering concerns that Washington would go ahead with import tariffs and risk a trade war. Crude inventories rose by 5.661 million barrels in the week to 426.880 million barrels, data from the American Petroleum Institute showed on Tuesday.

Market Metals):

Update

(Base

London Metal Exchange copper

slipped by 0.5 percent to $6,971 a tonne by 0223 GMT, paring a 1.4 percent gain from the previous session. Prices have traded in a $6,850-$7,250 range since midFebruary, bumping up against four-year highs, as global manufacturing has ramped up to feed construction and power industries in Europe, China and the United States.

Market Update (Bullions): Gold prices inched higher early Wednesday to their highest in a week as U.S. equities and the dollar weakened after President Donald Trump said he would push ahead with punitive tariffs on steel and aluminum imports, rekindling fears of a potential trade war. Trump's top economic adviser Gary Cohn resigned on Tuesday after the U.S. president said he was sticking with plans to impose hefty tariffs on steel and aluminium imports.

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07/03/2018

TECHNICAL ANALYST

GOLD

OUTLOOK: TREND: - UP RESISTANCE: - 30750, 30850. SUPPORT: - 30550, 30450. STRATEGY: - SELL ON HGIH.

TECHNICAL OUTLOOK

Gold 4-hour chart has formed a long-term “Triple bottom chart” pattern. The last few sessions been bullish in trend. The market is expected to continue in bullish momentum once the same breaks above a key resistance holding at $1345(30705). The upside rally could test all the way through $1350-1360(30830-31080) levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test $1330-1320(30330-30080) levels. Key Support holds near $1320(30080).

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07/03/2018

SILVER

OUTLOOK: TREND: - UP RESISTANCE: - 39400, 39600. SUPPORT: - 39000, 38800. STRATEGY: - SELL ON HIGH.

TECHNICAL OUTLOOK Silver daily chart has formed "Falling channel� pattern. The last session ended up retesting near the channel’s resistance slope line. The market is expected to continue in bearish momentum, testing all the way through 38400-38000 levels in the upcoming sessions. Alternatively, if the market breaks above the key resistance holding at 39000 then it might turn bearish once again. The downside rally could test 39250-39500 levels. Support holds near 38000.

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07/03/2018

COPPER

OUTLOOK: TREND: - DOWN RESISTANCE: - 457.50,460. SUPPORT: -452.50, 450. STRATEGY: - SELL ON HIGH.

TECHNICAL OUTLOOK Copper hourly chart has formed "Descending channel� pattern. The last session ended up 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 454. The downside rally could test all the way through 452-450 levels in the upcoming sessions. Alternatively, if the market breaks above the key resistance holds at 457 then it might turn bullish once again. The upside rally could test 460-462 levels.

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07/03/2018

CRUDE OIL OUTLOOK: TREND: - DOWN RESISTANCE: - 4080, 4110. SUPPORT: - 4020, 3990. STRATEGY: SELL ON HIGH.

TECHNICAL OUTLOOK Crude oil daily chart has formed "Megaphone chart� pattern. The last session ended up retesting a key resistance holding at $63(4090) inside the channel. The market is expected to continue in bearish momentum, testing all the way through $61.50-60(3993-3895) levels in the upcoming sessions. Alternatively, if the market breaks above the resistance level then it might continue in bullish momentum. The upside rally could test $64-66(4155-4285) levels. Key Support holds at $60(3895).

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07/03/2018

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07/03/2018

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Commodity daily predection report 07 03 2018 by tradeindia research  

Daily Commodity Prediction Report By TradeIndia Research.We Are SEBI registerd investment advisor & providing Service Of Equity & Commod...

Commodity daily predection report 07 03 2018 by tradeindia research  

Daily Commodity Prediction Report By TradeIndia Research.We Are SEBI registerd investment advisor & providing Service Of Equity & Commod...

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