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16/10/2015
DAILY MCX NEWSLETTER
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BULLION:

BASE METAL:

Gold hovered below a 3-1/2-month high on Friday after strong U.S. inflation
data supported the dollar, but the metal was set to post its biggest weekly jump
in four weeks on bets the Federal Reserve will not hike interest rates this year.
The data provided some relief to the dollar, which has been battered by a run
of poor U.S. indicators, helping it move away from seven-week lows hit earlier
in the week. Many Fed watchers are exasperated by the mixed messages from
the U.S. central bank in recent weeks. Fed Chair Janet Yellen and other officials
have said they expect a rate hike will be needed by the end of this year, but two
Fed governors this week urged caution.

LME copper dipped to USD 5,280/mt due to US

dollar rise but later rolled back all the losses,
tracing crude oil prices, to end at USD 5,325.5/mt,
up by USD 19.5/mt. Both positions and trading
volumes posted a growth. LME copper stocks
extended losses. China September new loans
surge to RMB 1.05 trillion but M2 supply growth
slows to 13.1% YoY, leaving room for additional
pro-growth measures. Economic figures from US
are mixed and crude oil price volatility intensifies.
LME copper should move in USD 5305-5,355/mt
during Asian trading hours. India-born Vedanta
Resources has no plan for zinc output cut,
according to the companys Chief Executive
Officer.

ENERGY:

Crude oil futures rose on Friday to snap a week-long fall, as U.S. gasoline and distillate inventories dropped more than expected. Oil
markets were also supported as Asian shares got a bright start on Friday, catching some of Wall Street's shine after upbeat U.S. price
and jobless claims data calmed some recent concerns about the strength of the U.S. economy. Meanwhile, investors are waiting for
China's latest economic growth data scheduled to be released on Monday.

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BULLION & ENERGY

CS GOLD (DECEMBER) OVERVIEW:
TREND : BULLISH
RESIST 2: 27500
RESIST 1: 27390
SUP 1: 27050
SUP 2: 26790
STRATEGY: BUY ON DIPS

CS SILVER (DECEMBER) OVERVIEW:

TREND : BULLISH
RESIST 2:38000
RESIST 1:37730
SUP1:37150
SUP2:36950
STRATEGY : BUY ON DIPS

CS CRUDE OIL (OCTOBER) OVERVIEW:

TREND : BEARISH
RESIST 2:3150
RESIST 1:3100
SUP1:2990
SUP2:2950
STRATEGY: SELL ON RISE

CS NATURAL GAS (OCTOBER) OVERVIEW:

TREND :BEARISH
RESIST 2:165
RESIST 1:163
SUP1: 159
SUP2:155
STRATEGY: SELL ON RISE

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BASE METAL

CS COPPER (NOVEMBER) OVERVIEW:

TREND :SIDEWAYS
RESIST 2:352
RESIST 1:350
SUP1:347
SUP2:345
STRATEGY: BUY ON DIPS

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COMMODITY PICK OF THE DAY: CRUDE OIL

MCX CRUDE OIL OCT., Thursday as seen in the daily chart opened at 3030 levels and day high
of 3030 levels. During this period price corrected & made day low of 2936 levels finally closed
at 2986 levels. Now, there are chances of further downward movement technically &
fundamentally.

Oil markets were also supported as Asian shares got a bright start on Friday, catching some of Wall Street's shine after
upbeat U.S. price and jobless claims data calmed some recent concerns about the strength of the U.S. economy.

DAILY RECOMMENDATION: SELL MCX CRUDE OIL OCT., BELOW 3040 LEVELS FOR
TARGET OF T1 2940/T2 2900 WITH SL OF 3140 LEVELS.

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