17/01/2018

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Market Update (Energy):

Crude oil may open on positive path as it may move in
range of 4050-4120. U.S. oil output is expected to
continue to rise in February with production from shale
rising by 111,000 barrels per day (bpd) to 6.55 million
bpd, the U.S. Energy Information Administration said on
Tuesday. The global oil market has been closely
watching U.S. output, which may continue to
contribute to global oversupply even as OPEC
members, Russia and other producers curb production.

Market Update (Base

Metals):
Shanghai aluminium prices extended declines into a
second day on Wednesday as improving weather
conditions smoothed the flow of ingots from China's
remote northwestern Xinjiang region to the east of the
country. Stocks of industrial metals in LME warehouses
fell more than 40 percent last year and further
declines are expected in 2018, which should in theory
signal tighter supplies and fuel a blistering price rally,
Futures brokerage Gelin Dahua cut its long position on
the ShFE April copper contract by 35 percent on
Tuesday, according to ShFE data, but remains the top
position holder for the month with 7,803 lots.
Market Update (Bullions):
Gold prices edged up on Wednesday towards four-
month highs hit early in the week, as the U.S. dollar
slumped to three-year lows against a basket of
currencies. ECB is unlikely to ditch a pledge to keep
buying bonds at next week's meeting as rate setters
need more time to assess the outlook for the
economy and the euro. The ECB last week signalled
a growing appetite for revising its policy message in
"early" 2018.

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TECHNICAL ANALYST

GOLD
OUTLOOK:

TREND: - DOWN

RESISTANCE: - 29900, 30000.

SUPPORT: - 29700, 29600.

STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK

Gold daily chart has formed "Rising Wedge” pattern. The last few sessions seems
consolidated but bullish in trend. The market is expected to continue on bullish
momentum, testing all the way through $1350-1356(30080-30230) levels in the upcoming
sessions. Alternatively, if market breaks below the support level holding at $1335(29705),
then market might turn bearish. Resistance holds at $1356(30230).

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OUTLOOK:
SILVER
TREND: - DOWN

RESISTANCE: - 39550, 39750.

SUPPORT: - 39150, 38950.

STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK

Silver daily chart has formed "Falling wedge” pattern. The last few sessions seems
consolidated after breaking the channel’s resistance level. Exclusively last session market
been bullish in trend after the retest on the previous resistance line. The market is likely
to continue on the same bullish trend, testing all the way through 39500-39700 levels in
the upcoming sessions. Alternatively, if the market breaks below the support then it might
continue in bearish momentum. Resistance holds at 39700 and Support holds at 39000.

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COPPER
OUTLOOK:

TREND: - DOWN

RESISTANCE: - 456.50,459.

SUPPORT: -452.50, 450.

STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK

Copper daily chart has formed "Descending triangle” pattern. The last session seems
consolidated but bearish in trend as the prices have retested the channel’s support flat line
near 452.50. The market is expected to fall further on bearish momentum, testing all the
way through 454-452.50 levels in the upcoming sessions. Alternatively, if the channel’s
resistance gets broken then Buyers might take control over the market. Resistance holds
at 460.

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 17/01/2018

CRUDE OIL

OUTLOOK:

TREND: - UP

RESISTANCE: - 4090, 4120.

SUPPORT: - 4000, 4000.

STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK

Crude oil daily chart has formed "Rising Wedge” pattern. The last session seems strongly
bearish as the prices have retested the Major resistance level holding at $65(4161). The
market is expected fall further on bearish momentum once the same breaks below the
channel’s support slope line near $63.50(4065), testing all the way through $63-
61.50(4033-3937) levels in the upcoming sessions. Alternatively, if support slope line holds
strong then market might turn bullish once again.

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