Daily Commodity Prediction Report 08.05.2018 by TradeIndia Research

1. 08/05/2018 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801

2. 08/05/2018 Energy: Crude oil may continue to witness profit booking at higher levels as it can test 4700 in MCX. Oil prices retreated from 3-1/2 year highs on Tuesday as investors waited on an announcement by President Donald Trump on whether the United States will reimpose sanctions on Iran. Should Trump pull the United States out of a multi-nation agreement on Tehran's nuclear programme, Iranian crude exports could be hit, adding to tightness in the oil market, which is coming back into balance after years of glut. Base Metals: Base metals may open in green amid better than expected import and export data from China. China’s April exports denominated in yuan rose 3.7 percent from a year earlier, the General Administration of Customs said on Tuesday, compared with a decline of 9.8 percent in March. Yuan- denominated imports rose 11.6 percent last month, versus a 5.9 percent gain in March, resulting in a trade surplus of 182.8 billion yuan ($28.72 billion) for the period. Copper may trade in range of 455-463. Bullions Bullion counter may trade on mixed path as increased safe haven demand due to Iran tensions to support the prices while strong greenback can cap the upside. 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 31150 and can face resistance near 31350 in MCX. Meanwhile silver can take support near 39600 and can face resistance near 40100. Gold prices rose slightly on Tuesday, after easing in the previous session, as the dollar held steady after marking a fresh 2018 peak. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801

3. 08/05/2018 TECHNICAL ANALYST GOLD GOLD OUTLOOK: TREND: - UP RESISTANCE: - 31350, 31450 SUPPORT: - 31150, 31050 STRATEGY: - BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK 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 31350-31500 levels in the upcoming sessions. Alternatively, if the market breaks below the key support holding at 31000 then it might turn bearish. Key resistance holds at 31500. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801

4. 08/05/2018 OUTLOOK: SILVER SILVER TREND: - UP RESISTANCE: - 40100, 40300 SUPPORT: - 39700, 39500 STRATEGY: - BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Silver daily chart has formed “Rising channel” pattern. The last session been a gap up market, ended up in bullish trend. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at 40000. The upside rally could test all the way through 40200-40400 levels in the upcoming sessions. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test 39800-39650 levels. Key support holds at 39650. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801

5. 08/05/2018 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 along with a long term “Rectangle chart” pattern. The last few sessions ended up bullish in trend inside the channel. The market is expected to continue in bullish momentum, testing all the way through 462-465 levels in the upcoming sessions. Alternatively, if the market breaks below the key support holding at 456 then it might turn bearish once again. The downside rally could test 453-450 levels. Key resistance holds at 465. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801

6. 08/05/2018 CRUDE OIL CRUDE OIL OUTLOOK: TREND: - DOWN RESISTANCE: - 4760, 4730. SUPPORT: - 4670, 4640 STRATEGY: - BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Crude oil daily chart has formed “Ascending broadening wedge” pattern. The last few sessions ended up strongly bullish in trend near the channel’s resistance slope line. The market is expected to continue on a bullish momentum, once the same breaks above a key resistance holding at 4760. The upside rally could test all the way through 4800-4850 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 4700-4650- 4600 levels. Key support holds at 4600. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801

7. 08/05/2018 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 might be holding positions in the stocks recommended. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation for which either the site or its owners or anyone can be held responsible for . Any surfing and reading of the information is the acceptance of this disclaimer. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801

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