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Daily Market Reflection 18th May 2018  Market Outlook

COMDEX

MCX Gold price resumes its negative trading to approach the key support 30850, waiting to break this level to confirm extending the bearish wave towards our next target at 30650. Oil price shows sideways trading since morning and settles around 4865 level now, waiting to get enough positive momentum to push the price to continue the main bullish trend. Their is no news for Copper price by the continuation of its fluctuation near the bullish channel’s support at 460, until this moment we will keep preferring the bullish attempts due to the continuation of the price stability within the bullish channel levels.

Fundamental News Bullions prices reversed early gains on Thursday, falling back towards the lowest levels since December as a stronger dollar and rising U.S. government bond yields continued to weigh on demand for Gold. Crude Oil prices surged on Thursday, as data showed that U.S. crude and gasoline stockpiles have fallen. According to the latest weekly report from the U.S. Energy Information Administration, U.S. crude inventories fell by 1.4 million barrels in the week to May 11.

Important Data Time

Currenc y

Event

12:30pm

USD

FOMC Member Mester Speaks

6:00pm

CAD

CPI m/m

6:00pm

CAD

Core Retail Sales m/m

6:45pm

USD

FOMC Member Brainard Speaks

Forecast

0.3% 0.5%

Previou s

0.3% 0.0%

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

31007 39997 461.90 4820 158.65 158.70 976.10 208.50 191.30

Date 17-0518 30985 40090 463.35 4838 156.45 159.90 987.50 210.00 193.80

COMEX

Date 16-05-18 1291.50 16.371 71.49 3.071 93.27 67.8875

Date 17-05-18 1290.20 16.465 71.19 3.086 93.37 67.7650

GOLD SILVER CRUDE COPPER $ INDEX USDINR -

Date 16-05-18

% Chg -0.04% +0.29% +0.32% +0.37% -1.36% +1.01% +0.95% +0.67% +1.36% % Chg -0.10% +0.57% -0.41% -0.50% +0.11% -0.18%

OUR PREVIOUS CALLS UPDATE Intraday super star Date Commodity Entry Exit P/L 16/0 CASTOR(S) 5 Multibagger Date Commodity 17/0 COPPER(S) 5 Trifid special Date Commodity 16/0 SILVER(S) 5

4020

3995

2500

Entry -

Exit -

P/L UNEX

Entry 39800

Exit 40100

P/L -9000

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Gold and Silver GOLD

PIVOT S MCX COME

COMEX GOLD

S1

S2

R1

R2

30851 1284.93

30675 1276.79

30995 1293

31160 1296.71

Gold showed sideways to bullish movement and found the major resistance level of 30995. Now if price sustains on higher level then it will test next resistance level of 31160. On other side 30851 will be major support level.

COMEX SILVER

SILVER

PIVOTS

S1

S2

R1

R2

MCX COMEX

39820 16.28

39604 16.14

40209 16.47

40285 16.52

Silver showed sideways to bullish movement and found the major resistance level of 40209. Now if price sustains on higher level then it will test next resistance level of 40285. On other side 39820 will be major support level.

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Crude and Copper CRUDE

COMEX CRUDE

PIVOTS

S1

S2

R1

R2

MCX

4829

4792

4899

4935

COMEX

71.17

70.65

72.28

72.70

COPPER

Crude oil showed sideways to bearish movement and found the major support level of 4829. Now if price sustains on lower level then it will test next support level of 4792. On other side 4899 will be major resistance level. COMEX COPPER

PIVOTS

S1

S2

R1

R2

MCX

461.10

458.70

465.45

467.80

COMEX

3.0467

3.0256

3.0780

3.1038

Copper showed sideways to bullish movement and found the major resistance level of 465.45. Now if price sustains on higher level then it will test next resistance level of 467.80. On other side 461.10 will be major support level.

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Other Commodities PIVOTS COMMODITIE S

S1

S2

R1

R2

VOLUME

OI

TREND

ALUMINIUM

154

152.70

159.80

161.50

19600

3371

Bearish

LEAD

157.40

156.10

160.60

162.30

12720

2104

Bullish

NICKEL

978

964

998

1007

39438

8114

Bullish

ZINC

207.40

205.80

210.50

212

19733

3624

Bearish

NATURAL GAS 188.20

184.30

194

197.80

37643

5329

Bullish

LME INVENTORY COMMODITIES

11/05/2018

14/05/2018

ALUMINIUM -925 -4950 Due to Summer Bank Holiday NO LME DATA TODAY COPPER -4000 +8900

15/05/2018

16/05/2018

17/05/2018

-12200

-3925

+6275

+1375

-525

+9375

LEAD

+225

-800

-2970

+600

+200

NICKEL

-1038

-156

-90

-810

-1614

ZINC

-550

-450

-900

-350

-825

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Agri Commodity Updates GUARSEED

Guarseed showed bearish movement and found the important support level of 3850. 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 16250. 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 16250 then 16500 will act as next resistance level.

PIVOTS

SOYABEAN

S1

S2

R1

R2

15800

15500

16250

16500

Soyabean showed sideways movement and found the important resistance level of 3780. 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 3800 then 3850 will act as next resistance level.

PIVOTS

S1

S2

R1

R2

3750

3700

3800

3850

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Intraday Super Star (Premium Section)

CALL: SELL TURMERIC JUNE BELOW 7200 TARGETS 7100/7000 SL 7300.

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Multibagger Call (Premium Section)

CALL: BUY GOLD ABOVE 31000 TARGETS 31080/31160 SL 30920.

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Trifid Special (Premium Section)

SS

CALL: SELL ZINC BELOW 209.50 TARGETS 208.50/207.50 SL 210.50.

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Live Commodity Tips and News For Gold Market  

Trifid Research is a big investment advisory firm in India. It provides Free Commodity Tips and Live Gold Market Rate for all traders and al...

Live Commodity Tips and News For Gold Market  

Trifid Research is a big investment advisory firm in India. It provides Free Commodity Tips and Live Gold Market Rate for all traders and al...

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