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01/03/2018

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01/03/2018

Market Update (Energy):


Crude oil may remain sideways as it can move in range
of 4060-4130. U.S. crude oil production shattered a 47-
year output record in November and retreated slightly
in December, the U.S. Energy Department said on
Wednesday, as oil production from shale continued to
upend global supply patterns. Oil output rose to 10.057
million barrels per day (bpd) in November, a revision
from earlier estimates, the EIA said. December
production fell 108,000 bpd to 9.949 million bpd, it
said.

Market Update (Base


Metals): Growth in China's manufacturing
sector unexpectedly picked up to a six-month high in
February as factories rushed to replenish inventories
to meet rising new orders, a private survey showed on
Thursday. Shanghai copper prices fell for a fourth day
on Thursday to touch their lowest level in more than
two weeks, pushed down as the dollar strengthened
and global stock markets declined.

Market Update (Bullions):


Gold prices dipped on Thursday, pulled down as
the dollar remained strong following comments
from Federal Reserve Chairman Jerome Powell
that fanned concerns of faster-than-expected
hikes in U.S. interest rates. The U.S. currency,
which in February recorded its best monthly
performance since November 2016, has been
bolstered by Powell's hawkish stance on the
U.S. economy that fuelled expectations of
interest rates being raised four times this year
rather than three. U.S. economic growth slowed
slightly more than initially thought in the fourth
quarter after the strongest pace of consumer
spending in three years depleted inventories and drew in imports as businesses struggled to
produce enough goods and services.

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01/03/2018

TECHNICAL ANALYST

GOLD
OUTLOOK:

TREND: - DOWN

RESISTANCE: - 30350, 30450.

SUPPORT: - 30150, 30050.

STRATEGY: - SELL ON HGIH.

TECHNICAL OUTLOOK

Gold daily chart has formed "Symmetrical triangle” pattern. The last session seems
bearish in trend as the prices have broken out the channel’s support slope line. The
market is expected to continue in bearish momentum, once the same breaks below a key
support at $1315(30315). The downside rally could test all the way through $1300-
1290(29940-29690) levels in upcoming weeks. Alternatively, if the key support holds
strong then the market might retest the same and turn bullish. The upside rally could test
$1325-1335(30565-30815) levels. Resistance holds at $1335(30815).

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01/03/2018

OUTLOOK:
SILVER
TREND: - DOWN

RESISTANCE: - 38300, 38500.

SUPPORT: - 37900, 37700.

STRATEGY: - SELL ON HIGH.

TECHNICAL OUTLOOK

Silver daily chart has formed "Falling channel” pattern. The last session ended up
retesting the channel’s resistance slope line. The market is expected to continue in
bearish momentum along with a small correction over positive trend. The downside rally
could test all the way through 38400-38000 levels in the upcoming sessions.
Alternatively, if the market breaks above the resistance level holding at 39100, then it
might turn bullish once again. The upside rally could test 39500-40000 levels. Support
holds at 38000.

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01/03/2018

COPPER
OUTLOOK:

TREND: - DOWN

RESISTANCE: - 456.50,459.

SUPPORT: -452.50, 450.

STRATEGY: - SELL ON HIGH.

TECHNICAL OUTLOOK

Copper hourly chart has formed "Falling wedge” pattern. The last session ended up
retesting the channel’s support slope line. The market is expected to continue in bullish
momentum for a while to retest the key resistance holding at 455 and then turn bearish.
The downside rally could test all the way through 453-450 levels in the upcoming sessions.
Alternatively, if the market breaks above the resistance level, then it might turn bullish once
again. Support holds at 450.

301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900
01/03/2018

CRUDE OIL

OUTLOOK:

TREND: - DOWN

RESISTANCE: - 4060, 4090.

SUPPORT: - 4000, 3970.

STRATEGY: BUY ON LOW.

TECHNICAL OUTLOOK

Crude Oil 4hr chart has formed "Rising wedge” pattern. The last session ended up bearish
in trend as the prices have broken out the channel’s support slope line. The market is
expected to continue in bearish momentum along with a small correction over positive
momentum. The downside rally could test all the way through $61-60(3976-3911) levels in
upcoming weeks. Alternatively, if the market breaks above the previous support which is
now act as resistance at $62.50(4074), then it might turn bullish. Support holds at
$60(3911).

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01/03/2018
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