DAILYDAILY

TECHNICAL
REPORT
COMMODITY REPORT

MCX
COMMODITY REPORT
DATE- April 28, 2016

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COMMODITY NEWS

DAILY COMMODITY REPORT

COMMODITY NEWS

Oil prices fluctuated in early European trade while waiting on weekly data on U.S
stockpiles.
The rout in crude prices is snowballing into one of the biggest avalanches in the
history of corporate America, with 59 oil and gas companies now bankrupt after this
week's filings for creditor protection by Mid states Petroleum (PK:MPOY) and Ultra
Petroleum (NL:UPL).
Gold futures moved further away from a 16-month peak in European trade on
Wednesday, as the U.S. dollar staged a recovery after a pair of Federal Reserve
officials talked up U.S. interest rate hikes this year.

Oil prices edged up on Wednesday as an uncontrolled wildfire near Canada's oil

sands region reduced production there, but overall markets were weighed down by
slowing economic growth in Asia and the United States.

The Canadian province of Alberta raced to evacuate the entire population of Fort
McMurray, where a wildfire was taking hold in the heart of the country's oil sands
region, reducing output at some facilities.

MARKET OUTLOOK (THURSDAY, May 5)

China is to release data on the private sector Caixin services index.

The U.S. is to release weekly data on initial jobless claims, while Atlanta Fed's
Lockhart, Dallas Fed President Rob Kaplan, St. Louis Fed President James Bullard
and San Francisco Fed's Williams are all due to participate in a panel discussion
titled "International Monetary Policy and Reform in Practice" at the Hoover
Institute conference.

TOP 5 THINGS TO KNOW IN THE MARKET ON WEDNESDAY

1. Eyes on ADP employment ahead of Fridays NFP
2. Global stocks broadly lower on continued growth worries
3. Oil registers choppy trade ahead of weekly inventory data
4. Dollar rebounds from multi-month lows
5. Cruz suspends presidential campaign, paving way for Trump

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{DAILY COMMODITY REPORT (MAY 5, 2016)}

MCX CRUDE OIL

Crude Oil tries to touch our support 2800
Energy Overview:

- Crude Oil prices closed down with a cut of 2.51% yesterday.

Sustenance below 2890 post the inventory data will extend the correction towards 2853/2800
levels. The outlook for the counter will stay negative until prices trade below 3015 levels.
Traders should look to sell into intraday rallies until prices trade below this level.

Date
MAY 5, 2016

Commodity
CRUDE OIL

Expiry

Open

High

Low

Close

MAY 19,2016

2915

2959

2905

2954

Resistance 2

Resistance 1

Pivot Point

Support 1

Support 2

3024

3000

2950

2910

2875

Recommendation: BUY ABOVE 2970 TARGET- 3000/3020 with the S/L- 2935.

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{DAILY COMMODITY REPORT (MAY 5, 2016)}

MCX GOLD
Gold tries to sustain our position around 30500
Bullion Overview: -

Gold prices continue to retrace lower. Weakness below 30050 will

push prices lower towards 2995029900 zones. Intraday pullback rallies will face resistance
between 3020030250 levels. The counter needs to decisively breakout above 30300 to rally
towards its recent swing highs at 30538 levels.

Date

Commodity

MAY 5, 2016

GOLD

Expiry
June 3, 2016

Open

High

Low

Close

30150

30270

30005

30200

Resistance 2

Resistance 1

Pivot Point

Support 1

Support 2

30830

30724

30260

29960

29730

Recommendation: BUY above 30300 levels with a stop loss placed 30140 levels for
target of 30525/30630 levels. (OR) SELL BELOW 30020, target- 29886/29646, SL- 30300

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{DAILY COMMODITY REPORT (MAY 5, 2016)}

COPPER
MCX Copper prices weaken further towards its support
Market Outlook:

- We expect Copper prices to weaken further towards its support

around 326 levels. A daily close below this level will open downside targets of 322.80/321
levels for the counter. Intraday resistance for the counter is seen between 330331 zones.
A break above 331 will trigger a bounce towards 334.50/335 levels.

Date

Commodity

MAY 5, 2016

COPPER

Expiry

Open

High

Low

Close

JUNE30, 2016

328.95

330

325.60

327.25

Resistance 2

Resistance 1

Pivot Point

Support 1

Support 2

334

331

327.98

325

323

Recommendation: BUY above, 330 levels with a stop loss placed 327 levels for
target 334/336 levels.

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{DAILY COMMODITY REPORT (MAY 5, 2016)}

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{DAILY COMMODITY REPORT (MAY 5, 2016)}