Daily Commodity Prediction Report 16.03.2018 by TradeIndia Research

1. 16/03/2018 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

2. 16/03/2018 Market Update (Energy): Crude oil may remain range bound as crude can test 3980 in MCX. Oil prices held steady on Thursday, supported by healthy global demand but capped by the relentless rise in U.S. production that is undermining efforts led by producer cartel OPEC to cut supplies and prop up markets. Prices were receiving support from healthy demand. The Organization of the Petroleum Exporting Countries (OPEC) said on Wednesday that oil consumption was expected to grow by 1.62 million barrels per day (bpd) in 2018. (Base Market Update Metals): Copper may move towards 455 while nickel may head towards 910. LME copper traded up 0.3 percent at $7,006 a tonne by 0157 GMT, adding to 0.6 percent gains from the previous session. Prices are expected to rise over the coming month as industrial production in the seasonally strongest second quarter ramps up. Market Update (Bullions): Gold prices edged higher early Thursday and hovered near one-week highs hit in the previous session, as concerns over trade tensions weighed on share markets. Stock markets sagged broadly on Thursday while government bonds attracted safe-haven demand amid mounting investor concerns that growing trade tensions could hurt the global economy. U.S. retail sales fell for a third straight month in February as households cut back on purchases of motor vehicles and other big-ticket items, prompting analysts to downgrade their first-quarter growth forecasts. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

3. 16/03/2018 TECHNICAL ANALYST GOLD GOLD OUTLOOK: TREND: - UP RESISTANCE: - 30350, 30450. SUPPORT: - 30150, 30050. STRATEGY: - SELL ON HGIH. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Gold daily chart continues in "Falling wedge” pattern. The last session ended up bearish after retesting the channel’s resistance slope line. The market is expected to continue in bearish trend, once the same breaks below the key support holding at $1310(30150). The downside rally could test all the way through $1305-1300(30025-29900) levels in the upcoming sessions. Alternatively, if the support holds strong then the market might retest the same and turn bullish. The upside rally could test $1320-1330(30400-30650) levels. Key resistance holds at $1330(30650). 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

4. 16/03/2018 OUTLOOK: SILVER SILVER TREND: - UP RESISTANCE: - 38750, 38950. SUPPORT: - 38350, 38150. STRATEGY: - SELL ON HIGH. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Silver hourly chart has formed "Descending triangle” pattern. The last few sessions seems consolidated as the prices have broken out the pattern itself. The market is expected to continue in bearish momentum, once the same retest the previous support which now acts as key resistance at 38650. The downside rally could test all the way through 38500-38350 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 38800-39000 levels. Support holds at 38350. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

5. 16/03/2018 COPPER COPPER OUTLOOK: TREND: - DOWN RESISTANCE: - 452.50,455. SUPPORT: -447.50, 445. STRATEGY: - BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Copper daily chart has formed "Falling wedge” pattern. The last few sessions ended up consolidated as the prices have already broken out the channel’s resistance slope line. The market is expected to continue in bullish momentum by retesting a key support holding at 449. The upside rally could test all the way through 452-455 levels in the upcoming sessions. Alternatively, if the market breaks below the key support then it might turn bearish once again. The downside rally could test 447-445 levels. Resistance holds at 455. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

6. 16/03/2018 CRUDE OIL CRUDE OIL OUTLOOK: TREND: - DOWN RESISTANCE: - 4000, 4030. SUPPORT: - 3940, 3910. STRATEGY: BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Crude oil daily chart has formed "Symmetrical triangle” pattern. The last few sessions ended up consolidated near the tip of the triangle. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at $61.50(3994). The upside rally could test all the way through $62-63(4027-4092) 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 $60-59(3897- 3832) levels. Key support holds at $59(3832). 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

7. 16/03/2018 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. All Rights Reserved. Investment in Commodity and equity market has its own risks. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

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