Daily Commodity Prediction Report 12.04.2018 by TradeIndia Research

1. 12/04/2018 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

2. 12/04/2018 Market Update (Energy): Crude oil may remain on upside path on Middle East tensions as it can test 4400 in MCX. Oil markets remained tense on Thursday on concerns over a military escalation in Syria, although prices remained some way off Wednesday's highest since late 2014 as bulging American supplies weighed. China lashed out at the United States on Thursday saying that the trade disputes, in which both sides have threatened to impose tariffs on imports of several products, were "single-handedly provoked by the U.S." and that Beijing was prepared to escalate the spat if Washington did not back off from its threatened import tariffs. (Base Market Metals): Base metals complex may witness profit booking at higher levels. Copper may face resistance near 452 and can move lower towards 442., tracking the prices of other steel materials as demand from construction got off to a slow start in the usually strong second quarter. Iron ore futures in China have been falling, with investors worried about slipping steel margins this year and leaner demand in the world's top consumer. Market Update (Bullions): Update Gold prices eased off multi-week highs on Thursday as minutes from the Federal Reserves's last policy expectations for a faster pace of U.S. rate hikes. U.S. President Donald Trump warned Russia on Wednesday of imminent military action in Syria over a suspected poison gas attack, declaring that missiles "will be coming" and lambasting Moscow for standing by Syrian President Bashar al-Assad. All of the Federal Reserve's policymakers felt that the U.S. economy would firm further and that inflation would rise in the coming months, minutes of the central bank's meeting raised last policy meeting on March 20-21 released on Wednesday showed. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

3. 12/04/2018 TECHNICAL ANALYST GOLD GOLD OUTLOOK: TREND: - DOWN RESISTANCE: - 31400, 31500. SUPPORT: - 31200, 31100. STRATEGY: - BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Gold daily chart has formed “Rising channel” pattern. The last session ended up strongly bullish in trend as the prices have broken out the channel’s resistance slope line. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at 31400. The upside rally could test all the way through 31550- 31700 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 31200-31100 levels. Previous resistance become support at 31100. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

4. 12/04/2018 OUTLOOK: SILVER SILVER TREND: - DOWN RESISTANCE: - 39200, 39400. SUPPORT: - 38800, 38600. STRATEGY: - BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Silver daily chart has formed “Symmetrical triangle” pattern. The last few sessions ended up bullish in trend as the prices have broken out the channel’s resistance slope line. The market is expected to continue in bullish momentum, once the same breaks above a key resistance holding at 39250. The upside rally could test all the way through 39500-39700 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 39150- 38900 levels. Key support holds at 38900. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

5. 12/04/2018 COPPER COPPER OUTLOOK: TREND: - DOWN RESISTANCE: - 449.50,452. SUPPORT: -444.50, 442. STRATEGY: - BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Copper daily chart has formed “Symmetrical triangle” pattern. The last few sessions ended up bullish in trend after consolidation. The market is expected to continue in bullish momentum, testing all the way through 455-458 levels in the upcoming sessions. Alternatively, if the market breaks below the key support holding at 448 then it might turn bearish. The downside rally could test 446-445 levels. Key resistance holds at 458. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

6. 12/04/2018 CRUDE OIL CRUDE OIL OUTLOOK: TREND: - DOWN RESISTANCE: - 4410, 4440. SUPPORT: - 4350, 4320. STRATEGY: BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Crude oil daily chart has formed “Ascending triangle” pattern. The last few sessions been bullish in trend and has ended up near the channel’s horizontal resistance line. The market is expected to continue in bullish momentum, once the same breaks above the resistance holding at $67(4381). The upside rally could test all the way through $68.50-70(4480-4578) levels in the upcoming weeks. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish. Key support holds at $64(4185). 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

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