17 th Dec Gold Silver Copper Zinc Lead Aluminium Nickel Crude Oil Natural Gas. Bullion. Base Metal. Energy. Jeera. Agro.

Transcription

1 17 th Dec 2018 Bullion Base Metal Energy Agro Gold Silver Copper Zinc Lead Aluminium Nickel Crude Oil Natural Gas Jeera Chana

2 MCX Gold price has moved lower on Friday session. On a weekly chart, price has shown negative strength during the entire week. On the daily chart, Gold has again tested 61.8% retracement levels; which could be a further support for immediate fall. Moreover, COMEX Gold price has sustained above 200 week SMA on a weekly chart. A momentum indicator RSI (14) has shown positive crossover on a weekly chart. So based on the above technical structure; we expect bullish momentum in the prices for near term. Gold MCX Silver price has fallen by almost 1% on Friday. On the daily chart, price has failed to sustain above falling trend line and traded near psychological level of Rs Moreover, price has shifted below upper Bollinger band formation. Furthermore, a momentum indicator RSI (14) has pulled down from the higher side; which could be a negative sign for short term. On the other hand, COMEX Silver has moved below $14.50 levels. So based on the above technical studies; we expect bearish momentum in the prices for the day. Feb Silver Mar Bullish 31680/ / Gold Silver

3 MCX Copper prices traded lower on Friday and settled below the prior close. On the daily chart, price has given falling channel breakout on upside and sustained above it but on the other hand, price has been finding a resistance at 50% retracement levels and upper Bollinger band. Furthermore, a momentum indicator RSI (14) and MACD has shown positive crossover on the daily chart. Hence, we expect range bound to bearish movement in the prices for near term. MCX Zinc price has started a day on flat note and slipped down by 1.30% during the session. On the daily chart, price has settled above the falling trendline, but unable to sustain above 190 levels due which it has corrected almost 4% in last two days. While weekly price has confirmed Hammer candlestick patterns; which indicates bullish reversal for medium term, but due to range bound market movement it is unable to perform well. So for short term prospect, we expect further correction in the prices towards 180. Copper Feb Zinc Dec / / Copper Zinc

4 MCX Crude Oil price has corrected on Friday after a 3% jump in prior sessions on hints that global supplies could balance by middle of next year. On the daily chart, MCX Crude prices are unable to sustain at higher levels and finding a major resistance around 3870 as prices are getting reverse from that level only. So bullish rally do not confirm until price get settle above 3870 levels. Moreover, NYMEX Oil prices are also not supporting the bullish trend. Hence, we expect bearish move in the prices for the day. MCX Natural Gas prices moved down by almost 5.5% on Friday. Overall, prices are highly volatile in these days and moving ups & down. On the daily chart, price has given Symmetrical Triangle pattern breakdown and sustained below it. Moreover, price has also breached lower Bollinger band. Furthermore, a momentum indicator RSI (14) and MACD has shown negative strength. So based on the above structure, we expect bearish movement in the prices for the day. Crude Oil Dec Natural Gas Dec / / Crude Natural Gas

5 NCDEX Chana has traded at flat note on Friday. On the daily chart, price has sustained above 38.2% retracement levels and 50 days SMA; which suggest bullish trend in the counter. Furthermore, a momentum indicator RSI and MACD moved higher with positive crossover. On the other hand, fundamental outlook is bullish for Chana in near term because of less production figure and higher demand. So based on the above analysis, we expect bullish trend for the day. NCDEX Jeera prices were flat on Friday session. On the daily chart, price has given rising trendline breakdown and sustained below it; which indicates bearish trend in the counter. Moreover price has moved below 100*50 days SMA on the daily chart; which confirms bearishness for near term. Furthermore, a momentum indicator RSI and MACD traded at lower levels with negative crossover. So based on the above analysis, we expect bearish trend in the counter for the day. Chana Jan Jeera Jan 4606 Bullish 4650/ / Jeera Chana

6 Gold Silver Crude Oil WTI Brent Crude Oil Natural Gas USD / INR Dollar Index EUR / USD CRB Index* Copper Aluminum Zinc 2543 Lead Nickel Copper Aluminum Zinc Lead

7 PIVOT TABLE S3 S2 S1 Pivot R1 R2 R3 Copper Aluminum Lead Nickel Zinc Natural Gas RM Seed Soybean RSO Jeera TMC Guar Seed Dhaniya Castor Seed

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