Daily Commodity Prediction Report 20.03.2018 by TradeIndia Research

1. 20/03/2018 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

2. 20/03/2018 Market Update (Energy): Crude oil may open in green tracking positive international markets as it can test 4100 in MCX. Oil prices edged up on Tuesday, lifted by tensions in the Middle East, although rising output in the United States and shaky stock markets put a lid on further gains. Traders pointed to concerns in the Middle East, where the United States may reimpose sanctions on Iran, as well as tensions between Saudi Arabia and Iran. Market Update (Base Metals): London Metal Exchange (LME) copper prices lost ground for the fourth session on Tuesday, tracking a fall in equities as investors trimmed positions ahead of a Federal Reserve meeting starting later in the day, while the dollar edged upwards. Copper may take support near 442 levels and zinc may take support near 211. Three-month copper on the LME had fallen 0.3 percent to $6,836 a tonne by 0154 GMT, extending a 0.5-percent dip from the previous session. Market Update (Bullions): Gold prices edged down on Tuesday as the dollar firmed, with focus shifting to the U.S. Federal Reserve which is expected to hike interest rates and signal three more increases this year at a two-day meeting that kicks off later in the day. The Federal Open Market Committee (FOMC), the U.S. central bank's policy-setting group, will meet on Tuesday and Wednesday. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

3. 20/03/2018 TECHNICAL ANALYST GOLD GOLD OUTLOOK: TREND: - UP RESISTANCE: - 30350, 30450. SUPPORT: - 30250, 30150. STRATEGY: - SELL ON HGIH. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Gold daily chart has formed "Descending triangle” pattern. The last few sessions seems consolidated after retesting the pattern’s support level holding at $1305(30145). The market is expected to continue in bullish momentum, once the same breaks above a key resistance level holding at $1320(30520). The upside rally could test all the way through $1325-1330(30645-30770) 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 $1310-1305(30270-30145) levels. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

4. 20/03/2018 OUTLOOK: SILVER SILVER TREND: - UP RESISTANCE: - 38650, 38850. SUPPORT: - 38250, 38050. STRATEGY: - SELL ON HIGH. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Silver hourly chart has formed “Falling wedge” pattern. The last session 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 38600. The upside rally could test all the way through 38800-39000 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test 38400-38200 levels. Key support holds at 38200. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

5. 20/03/2018 COPPER COPPER OUTLOOK: TREND: - DOWN RESISTANCE: - 448.50,451. SUPPORT: -443.50, 441. STRATEGY: - BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Copper daily chart has formed “Falling wedge” pattern. The last few sessions been bearish in trend after retesting the channel’s resistance slope line. The market is expected to continue in bearish momentum, once the same breaks below a key support holding at 442.50. The downside rally could test all the way through 440-438 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and bullish once again. The upside rally could test 448-450 levels. Key Resistance holds at 450. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

6. 20/03/2018 CRUDE OIL CRUDE OIL OUTLOOK: TREND: - DOWN RESISTANCE: - 4140, 4110. SUPPORT: - 4030, 4000. STRATEGY: BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Crude oil daily chart has formed "Symmetrical triangle” pattern. The last few sessions been bullish in trend after retesting a key support holding at $60(3914) as the prices seems to have broken out the pattern itself. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at $63(4109). The upside rally could test all the way through $64-65(4175-4240) 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 $61.50-60(4011-3914) levels. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

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