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Daily Market Reflection 17th May 2018 COMDEX

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Market Outlook MCX Gold price provided some slight positive trading this morning and returns to decline now, to keep the bearish trend active for today, depending on the price stability below 31100 level, oil price retests the previously breached resistance of the bearish channel, and the price gets continuous positive support to keep the chances valid to continue the main bullish trend, which targets visiting 4965 level on the near term basis. Copper price formed additional negative rebound yesterday to repeat the attempts to press on the bullish channel’s support line at 460, the price preparation to renew the bullish attempts in the near term. Fundamental News Yellow metal prices pushed higher on Wednesday, but remained below the $1,300 level after slumping on Tuesday as strength in the dollar and U.S. government bond yields prompted investors to sell off the Gold. Crude oil prices edged lower on Wednesday, but held near three-and-a-half-year highs reached in the prior session as markets focused on rising U.S. crude stockpiles along with the potential impact of U.S. sanctions on Iranian oil exports.

Important Data Time

Currenc y

6:00pm

CAD

Foreign Securities Purchases

USD

Unemployment Claims

6:00pm

Event

8:00pm

USD

Natural Gas Storage

9:30pm

GBP

MPC Member Haldane Speaks

Forecast

Previou s 3.96B

219K

211K 89B

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

31175 39940 462.80 4855 159.30 160.40 986.00 208.65 194.00

Date 16-0518 31007 39997 461.90 4820 158.65 158.70 976.10 208.50 191.30

COMEX

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

Date 16-05-18 1291.40 16.37 71.49 3.076 93.27 67.72

GOLD SILVER CRUDE COPPER $ INDEX USDINR -

Date 15-05-18

% Chg -0.54% +0.11% -0.23% -0.62% -0.53% -0.94% -0.94% -0.02% -1.44% % Chg +0.46% +0.49% +0.53% +0.55% +0.22% +0.75%

OUR PREVIOUS CALLS UPDATE Intraday super star Date Commodity Entry Exit P/L 16/0 CHANA(S) 5 Multibagger Date Commodity 15/0 COPPER(S) 5 Trifid special Date Commodity 16/0 SILVER(S) 5

3640

3610

3000

Entry 461

Exit 465

P/L -4000

Entry 39800

Exit -

P/L -

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Gold and Silver GOLD

PIVOT S MCX COME

COMEX GOLD

S1

S2

R1

R2

30850 1285

30600 1279

31650 1297

31850 1304

Gold showed sideways to bearish movement and found the major support level of 31000. Now if price sustains on lower level then it will test next support level of 30800. On other side 31300 will be major resistance level.

COMEX SILVER

SILVER

PIVOTS

S1

S2

R1

R2

MCX COMEX

39600 16.28

39300 16.16

40100 16.44

40400 16.53

Silver showed sideways to bearish movement and found the major support level of 39600. Now if price sustains on lower level then it will test next support level of 39300. On other side 40200 will be major resistance level.

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Crude and Copper CRUDE

COMEX CRUDE

PIVOTS

S1

S2

R1

R2

MCX

4780

4730

4890

4935

COMEX

71.47

70.90

71.93

72.50

COPPER

Crude oil showed sideways to bullish movement and found the major resistance level of 4820. Now if price maintains on higher level then it will test next resistance level of 4880. On other side 4750 will be major support level. COMEX COPPER

PIVOTS

S1

S2

R1

R2

MCX

458

453

464

470

COMEX

3.0496

3.0355

3.0687

3.0812

Copper showed sideways to bearish movement and found the major support level of 458. Now if price sustains on lower level then it will test next support level of 455. On other side 465 will be major resistance level.

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Other Commodities PIVOTS COMMODITIE S

S1

S2

R1

R2

VOLUME

OI

TREND

ALUMINIUM

152.50

150.20

161.50

163.80

11743

4255

Bullish

LEAD

157.60

156

160.70

162

14773

2074

Bullish

NICKEL

965

950

990

1000

29096

7547

Bullish

ZINC

207.50

205.80

209.90

212

16788

3369

Bearish

186.90

192.70

195

26972

4683

Bullish

NATURAL GAS 190

LME INVENTORY COMMODITIES

10/05/2018

11/05/2018

ALUMINIUM -11275 -925 Due to Summer Bank Holiday NO LME DATA TODAY COPPER -7950 -4000

14/05/2018

15/05/2018

16/05/2018

-4950

-12200

-3925

+8900

+1375

-525

LEAD

-250

+225

-800

-2970

+600

NICKEL

-804

-1038

-156

-90

-810

ZINC

-650

-550

-450

-900

-350

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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 CASTOR JUNE BELOW 4020 TARGETS 3980/3940 SL 4070.

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Multibagger Call (Premium Section)

CALL: SELL COPPER BELOW 458 TARGETS 455/452 SL 462.

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Trifid Special (Premium Section)

SS

CALL: SELL SILVER BELOW 39800 TARGETS 39500

/39200 SL 40100.

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