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Daily Market Reflection 16th May 2018 COMDEX



Market Outlook MCX Gold price crawls downwards gradually to move away from 31500 level, which supports the continuation of our bearish overview for the rest of the day, oil price shows calm trading since morning, settling near the bullish flag resistance located at 4795, breaching this level will motivate the price to continue the main bullish trend. MCX Copper price returned to provide slow sideways trading, the bullish scenario depends on the strength of the current support, to keep preferring the bullish attempts that target 472 level as an initial positive station.

Fundamental News Precious metal prices fell to one week lows on Tuesday as rising U.S. Treasury yields dampened investor demand for the gold. A rise above the high of 3.035% reached on April 25 would take it to its highest since early 2014. Crude Oil prices remained on the front foot on Tuesday, with Brent prices extending gains to hit another 2014 high, as looming U.S. sanctions against Iran continued to provide support.

Important Data Time

Currenc y

5:30pm

EUR

Event

Forecast

Previou s

ECB President Draghi Speaks

6:00pm

USD

Building Permits

8:00pm

USD

Crude Oil Inventories

9:30pm

CHF

SNB Chairman Jordan Speaks

1.35M

1.35M -2.2M

Market Updates MCX GOLD SILVER COPPER CRUDE ALUMINIUM LEAD NICKEL ZINC NATURALGAS

31491 40305 464.10 4789 157.15 161.25 978.00 206.25 192.60

Date 15-0518 31175 39940 462.80 4855 159.30 160.40 986.00 208.65 194.00

COMEX

Date 14-05-18 1318.20 16.645 70.96 3.093 92.55 67.6550

Date 15-05-18 1290.80 16.290 71.11 3.059 93.06 68.2175

GOLD SILVER CRUDE COPPER $ INDEX USDINR -

Date 14-05-18

% Chg -1.04% -1.01% -0.19% +1.27% +1.34% -0.40% +0.99% +1.14% +0.88% % Chg -2.08% -2.13% +0.21% -1.10% +0.55% +0.83%

OUR PREVIOUS CALLS UPDATE Intraday super star Date Commodity Entry Exit P/L 14/0 MENTHA(S) 5 Multibagger Date Commodity 15/0 COPPER(S) 5 Trifid special Date Commodity 14/0 SILVER(S) 5

1278

1290

-4320

Entry 461

Exit 465

P/L -4000

Entry -

Exit -

P/L UNEX

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Gold and Silver GOLD

PIVOT S MCX COME

COMEX GOLD

S1

S2

R1

R2

31161 1289.46

31078 1281.72

31516 1313.53

31579 1321.58

Gold showed sideways to bearish movement and found the major support level of 31161. Now if price sustains on lower level then it will test next support level of 31078. On other side 31516 will be major resistance level.

COMEX SILVER

SILVER

PIVOTS

S1

S2

R1

R2

MCX COMEX

39830 16.16

39700 16.02

40219 16.52

40531 16.72

Silver showed sideways to bearish movement and found the major support level of 39830. Now if price sustains on lower level then it will test next support level of 39700. On other side 40219 will be major resistance level.

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Crude and Copper CRUDE

COMEX CRUDE

PIVOTS

S1

S2

R1

R2

MCX

4782

4732

4889

4935

COMEX

70.40

70.25

71.89

72.30

COPPER

Crude oil showed sideways to bullish movement and found the major resistance level of 4889. Now if price sustains on higher level then it will test next resistance level of 4935. On other side 4782 will be major support level. COMEX COPPER

PIVOTS

S1

S2

R1

R2

MCX

460.10

456.35

467.80

471.10

COMEX

3.0098

2.8961

3.0790

3.1038

Copper showed sideways to bearish movement and found the major support level of 460.10. Now if price sustains on lower level then it will test next support level of 456.35. On other side 467.80 will be major resistance level.

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Other Commodities PIVOTS COMMODITIE S

S1

S2

R1

R2

VOLUME

OI

TREND

ALUMINIUM

154.60

152.20

161.30

162.80

14293

4156

Bullish

LEAD

159.20

157.60

163

165.05

17069

2374

Bullish

NICKEL

967.40

960

995.40

1005

50693

7282

Bullish

ZINC

206.30

204.20

210

211.50

19664

3679

Bearish

186

195.60

199

27402

6222

Bullish

NATURAL GAS 191

LME INVENTORY COMMODITIES

9/05/2018

10/05/2018

ALUMINIUM -21100 -11275 Due to Summer Bank Holiday NO LME DATA TODAY COPPER -9600 -7950

11/05/2018

14/05/2018

15/05/2018

-925

-4950

-12200

-4000

+8900

+1375

LEAD

-450

-250

+225

-800

-2970

NICKEL

-198

-804

-1038

-156

-90

ZINC

-950

-650

-550

-450

-900

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Agri Commodity Updates GUARSEED

Guarseed showed bullish movement and found the important resistance level of 3950. If price sustains below 3850 level in next trading session then this momentum can take prices to 3800 level. If it breaks the resistance level of 3950 then 4000 will act as next resistance level. PIVOTS

JEERA

S1

S2

R1

R2

3850

3800

3950

4000

Jeera showed sideways movement today and found the resistance level of 161500. If prices sustains below 15800 levels in next trading session then this momentum can take prices to 15500 levels. If it breaks the resistance level of 16200 then 16500 will act as next resistance level.

PIVOTS

SOYABEAN

S1

S2

R1

R2

15800

15500

16200

16500

Soyabean showed bullish movement and found the important resistance level of 3830. If price sustains below 3750 level in next trading session then this bearish momentum can take prices to 3700 level. If it breaks the resistance level of 3830 then 3880 will act as next resistance level.

PIVOTS

S1

S2

R1

R2

3750

3700

3830

3880

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Intraday Super Star (Premium Section)

CALL: SELL CHANA JUNE BELOW 3640 TARGETS 3600/3560 SL 3690.

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Multibagger Call (Premium Section)

CALL: BUY ZINC ABOVE 208.50 TARGETS 209.50/210.50 SL 207.

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Trifid Special (Premium Section)

SS

CALL: SELL SILVER BELOW 39800 TARGETS 39500

/39200 SL 40100.

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