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22/03/2018 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900
22/03/2018 Market Update (Energy): Crude oil is likely to trade higher towards 4270-4300 levels. On the international market, Oil prices rose on Thursday, lifted by a surprise draw on U.S. crude inventories as well as ongoing dollar weakness which makes oil cheaper in global markets and potentially spurs demand. U.S. West Texas Intermediate (WTI) crude futures were at $65.39 a barrel at 0021 GMT, up 22 cents, or 0.3 percent. Market Metals): Base metals complex may remain in range with bounce back can be seen at lower levels. Copper, zinc and aluminum rebounded from three- month lows on Wednesday as a sharp rise in oil prices, a firmer tone to equities and a retreat in the dollar buoyed metals prices ahead of a policy statement from the Federal Reserve. Expectations that the Fed will announce another U.S. rate hike, along with worries over the prospect of a global trade war, earlier weighed on industrial metals. They later recovered to move broadly higher. Market Update (Bullions): Update (Base Gold prices edged higher on Thursday, adding to gains in the previous session on the back of a weaker dollar after the U.S. Federal Reserve disappointed investors expecting more hawkish comments on interest rate rises. Spot gold rose 0.1 percent to $1,333.41 per ounce at 0030 GMT. Prices rose 1.6 percent in the previous session, the biggest one day percentage gain since May 17, 2017. U.S. gold futures for April delivery rose 0.9 percent to $1,333.70 per ounce. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900
22/03/2018 TECHNICAL ANALYST GOLD GOLD OUTLOOK: TREND: - UP RESISTANCE: - 30650, 30750. SUPPORT: - 30450, 30350. STRATEGY: - SELL ON HGIH. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Gold 4hr chart has formed “Descending triangle” pattern. The last session ended up retesting the channel’s resistance slope line. The market is expected to continue in bearish momentum, testing all the way through 30400-30300 levels in the upcoming sessions. Alternatively, if the market breaks above the key resistance holding at 30500 then it might turn bullish. The upside rally could test 30550-30650 levels. Support holds at 30300. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900
22/03/2018 OUTLOOK: SILVER SILVER TREND: - UP RESISTANCE: - 39000, 39200. SUPPORT: - 38600, 38400. STRATEGY: - SELL ON HIGH. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Silver hourly chart has formed "Falling wedge” pattern. The last session ended up bearish as the prices have broken out the channel’s resistance slope line. The market is expected to continue in bullish trend, by retesting the previous resistance which is now key support at 38600. The upside rally could test all the way through 38800-39000 levels in the upcoming sessions. Alternatively, if the market breaks below the key support then it might continue in bearish momentum. The downside rally could test 38400-38200 levels. Key resistance holds at 39000. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900
22/03/2018 COPPER COPPER OUTLOOK: TREND: - DOWN RESISTANCE: - 447.50,450. SUPPORT: -442.50, 440. STRATEGY: - BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Copper hourly chart has formed "Falling channel” pattern. The last session ended up consolidated near the channel’s resistance slope line. The market is expected to continue in bearish momentum, by retesting the key resistance holding at 444. The downside rally could test all the way through 442-440 levels in the upcoming sessions. Alternatively, if the market breaks above the resistance then it might continue in bullish momentum. The upside rally could test 446-448 levels. Key support holds at 440. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900
22/03/2018 CRUDE OIL CRUDE OIL OUTLOOK: TREND: - DOWN RESISTANCE: - 4280, 4310. SUPPORT: - 4220, 4190. STRATEGY: BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Crude oil daily chart has formed “Ascending triangle” pattern. The last few sessions seems strongly bullish after retesting the channel’s support slope line. The market is expected to continue in bullish momentum, testing all the way through $66-67(4299-4364) levels in the upcoming sessions. Alternatively, if the market breaks below the key support holding at $64(4169) then it might turn bearish. Resistance holds at $67(4364). 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900
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