Daily Commodity Prediction Report 07.05.2018 by TradeIndia Research

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2. 07/05/2018 Energy: Crude oil may open on positive note continuing last week gains on fear of fresh sanctions by US on Iran. Crude can test 4760 in MCX. Oil in New York rose above $70 a barrel for the first time since November 2014 as traders braced for a re- imposition of U.S. sanctions on Middle East crude producer Iran. While President Donald Trump has threatened he’ll pull out of a deal between Iran and world powers as a May 12 deadline nears, he’s signaled he’ll be open to negotiation. Base Metals: Base metals may remain sideways with positive bias on optimistic trade talks between US and Chinese officials last week.LME is closed today due to early May bank holiday. Chinese state media struck an optimistic note on trade talks between Chinese and U.S. officials after U.S. President Donald Trump threatened to impose tariffs on up to $150 billion in Chinese goods over allegations of intellectual property theft. Copper may take support near 452 and resistance near 461. Bullions Bullion counter may open in green continuing firm international markets amid weakening greenback. Gold prices edged up in early trade on Monday as the dollar took a breather after climbing to its highest level this year in the previous session. Gold can take support near 31000 and can move towards 31300 in MCX. Meanwhile silver can take support near 39500 and can move towards 40000. US job growth increased less than expected in April and the unemployment rate dropped to near a 17.5-year low of 3.9 per cent as some out-of-work Americans left the labor force. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801

3. 07/05/2018 TECHNICAL ANALYST GOLD GOLD OUTLOOK: TREND: - UP TECHNICAL OUTLOOK TECHNICAL OUTLOOK RESISTANCE: - 31400, 31500 SUPPORT: - 31200, 31100 STRATEGY: - BUY ON LOW. Gold daily chart has formed “Rising wedge” pattern. The last few sessions ended up bullish retesting the channel’s support slope line. The market is expected to continue on a bullish momentum, testing all the way through 31250-31400 levels in the upcoming sessions. Alternatively, if the market breaks below the key support holding at 31000 then 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801 it might turn bearish. The downside rally could test 30900-30800 levels. Key resistance holds at 31400.

4. 07/05/2018 OUTLOOK: SILVER SILVER TREND: - UP RESISTANCE: - 40200, 40400 SUPPORT: - 39800, 39600 STRATEGY: - BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Silver daily chart has formed “Rising channel” pattern. The last few sessions ended up bullish in trend after retesting the channel’s support slope line. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at 39700. The upside rally could test all the way through 39900-40200-40500 levels in the upcoming sessions. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish once again. Major support holds at 39000. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801

5. 07/05/2018 COPPER COPPER OUTLOOK: TREND: - UP RESISTANCE: - 462.50,465. SUPPORT: -457.50, 455. STRATEGY: - BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Copper daily chart has formed “Ascending broadening wedge” pattern. The last few sessions ended up bullish in trend inside the channel. The market is expected to retest a key resistance holding at 459 and turn bearish. The downside rally could test all the way through 457-455 levels in the upcoming sessions. Alternatively, if the market breaks above the key resistance then it might continue in bullish momentum. The upside rally could test 462-465 levels. Key support holds at 455. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801

6. 07/05/2018 CRUDE OIL CRUDE OIL OUTLOOK: TREND: - DOWN RESISTANCE: - 4780, 4750. SUPPORT: - 4690, 4660 STRATEGY: - BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Crude oil daily chart has formed “Rising channel” pattern. The last few sessions ended up strongly bullish in trend. The market is expected to continue on a bullish momentum along with small negative correction. The upside rally could test all the way through 4700-4750 levels in the upcoming sessions. Alternatively, if the market breaks below the key support holding at 4600 then it might turn bearish. The downside rally could test 4550-4500 levels. Key resistance holds at 4750. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801

7. 07/05/2018 DISCLAIMER DISCLAIMER The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility. The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailor-made investment advice. Trade India Research Recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. Trade India Research shall not be responsible for any transaction conducted based on the information given in this report, which is in violation of rules and regulations of NSE and BSE. The share price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice. Analyst or any person related to Trade India Research 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801

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