Daily Commodity Prediction Report 09.04.2018 by TradeIndia Research

1. 09/04/2018 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

2. 09/04/2018 Market Update (Energy): Crude oil may trade sideways on mixed fundamentals. Crude oil can take support near 4000 and can recover towards 4080 in MCX. Oil markets stabilized on Monday after slumping around 2 percent last Friday on the back of concerns of an intensifying trade dispute between the United States and China, as well as increased U.S. drilling activity. Oil prices fell about 2 percent on Friday after U.S. President Donald Trump threatened new tariffs on China, reigniting fears of a trade war between the world's two largest economies that could hurt global growth. Market Metals): Base metals complex may trade with positive bias as decline in LME inventories to support its prices. Copper may take support near 435 and can move towards 442. Copper prices have gained around 36% over the past 18 months turning mines that were once loss-making into profit generators. Appetite for copper-mining assets is picking up after prices climbed in 2017 to the highest level in seven years, amid disruptions that worsened a shortfall in supply. Market Update (Bullions): Update (Base Gold prices fell slightly in early Asian trade on Monday as the dollar firmed on signs of easing tensions between the United States and North Korea, although the bullion was underpinned by continued concerns over U.S.-China trade spat. North Korea has told the United States for the first time that it is prepared to discuss the denuclearization of the Korean Peninsula when North Korean leader Kim Jong Un meets President Donald Trump, a U.S. official said on Sunday. U.S. President Donald Trump predicted on Sunday that China would take down its trade barriers. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

3. 09/04/2018 TECHNICAL ANALYST GOLD GOLD OUTLOOK: TREND: - DOWN RESISTANCE: - 30800, 30900. SUPPORT: - 30600, 30500. STRATEGY: - BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Gold daily chart has formed “Rising channel” pattern. The last session ended up consolidated after retesting the channel’s support slope line. The market is expected to continue in bearish momentum, once the same breaks below a key support holding at 30500. The downside rally could test all the way through 30400-30300 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test 30650-30800 levels. Key resistance holds at 30900. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

4. 09/04/2018 OUTLOOK: SILVER SILVER TREND: - DOWN RESISTANCE: - 38500, 38700. SUPPORT: - 38100, 37900. STRATEGY: - BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Silver daily chart has formed “Symmetrical triangle” pattern. The last few sessions seems consolidated inside the channel. The market is expected to continue in bullish momentum, testing all the way through 38400-38700 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 38150 then it might turn bearish once again. The downside rally could test 38000-37800 levels. Key resistance holds at 38700. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

5. 09/04/2018 COPPER COPPER OUTLOOK: TREND: - DOWN RESISTANCE: - 440.50,443. SUPPORT: -435.50, 433. STRATEGY: - BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Copper daily chart has formed “Falling wedge” pattern. The last few sessions ended up consolidated inside the channel. The market indicates a long term bullish momentum, once the same breaks above a key resistance holding at 441. The upside rally could extend all the way through 445-450 levels in the upcoming sessions. We can also expect a small correction over negative momentum along the way in upcoming weeks. Alternatively, if the market breaks below the major support holding at 425 then it might turn bearish. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

6. 09/04/2018 CRUDE OIL CRUDE OIL OUTLOOK: TREND: - DOWN RESISTANCE: - 4070, 4100. SUPPORT: - 4000, 3980. STRATEGY: BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Crude oil daily chart has formed “Rising wedge” pattern. The last session ended up bearish in trend near the channel’s support slope line. The market is expected to retest a key support holding at 4025 and turn bullish. The upside rally could test all the way through 4080-4125 levels in the upcoming sessions. Alternatively, if the market breaks below the key support then it might turn bearish. The downside rally could test 3985-3950 levels. Key resistance holds at 4125. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

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