Daily Market Reflection

24th May 2017

-
Market Outlook COMDEX
Gold prices held near their strongest level in around three weeks
on Tuesday, as investor sentiment skewed toward safe-haven
assets after a suspected terrorist attack at a concert in Britain's
city of Manchester. Gold has been well-supported in recent
sessions as political uncertainty surrounding the Trump
administration pressured the dollar lower. Oil was lower Tuesday
after hitting one-month highs overnight as an OPEC meeting on
extending output cuts neared.OPEC and non-OPEC producers
are due to meet Thursday on extending cuts of 1.8 million barrels Market Updates
a day in the first half. Hopes are high that the scale back in MCX Date Date % Chg
production will be extended for another nine months to March. 22-05-17 23-05-
17
GOLD 28785 28811 +0.09%
Fundamental News SILVER 39874 39958 +0.21%
India's gold imports could plunge in 2017 during the traditional COPPER 371.50 373.60 +0.56%
period of peak demand in the second half of the year, after CRUDE 3310 3341 +0.93%
ALUMINIUM 125.25 126.45 +0.95%
jewelers have aggressively restocked inventory ahead of a
LEAD 134.60 134.90 +0.22%
national sales tax that takes effect on July 1. NICKEL 605.50 604.80 -0.11%
ZINC 170.25 172.55 +1.35%
Oil prices fell on Tuesday after U.S. President Donald Trump
NATURALGAS 214.50 210 -2.09%
proposed the sale of half the country's strategic oil reserves in his
budget plan, just as producer club OPEC and its allies are cutting COMEX Date Date % Chg
22-05-17 23-05-17
output to tighten the market.
GOLD 1261.40 1253.05 -0.66%
SILVER 17.191 17.056 -0.79%
CRUDE 51.13 51.22 +0.18/%
Important Data
COPPER 2.596 2.595 -0.02%
$ INDEX 96.88 97.18 +0.31%
Time Currency Event Foreca Previous
st USDINR 64.5950 64.9475 +0.55%

ECB President Draghi

06:15 pm EUR
Speaks OUR PREVIOUS CALLS UPDATE
Intraday super star
07:30 pm CAD BOC Rate Statement Date Commodity Entry Exit P/L
22/0 RMSEED 3670 3640 3000
07:30pm CAD Overnight Rate 0.50% 0.50% 5
Multibagger
07:30pm USD Existing Home Sales 5.65M 5.71M Date Commodity Entry Exit P/L
22/0 CRUDE 3290 - -
5
08:00pm USD Crude Oil Inventories -2.4M -1.8M Trifid special
Date Commodity Entry Exit P/L
FOMC Meeting
11:30pm USD 22/0 GOLD - - -
Minutes | Email id: info@trifidresearch.com
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5
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 Gold and Silver

GOLD COMEX GOLD

Gold showed sideways movement and found the

important resistance level of 28950. Now if it will close
PIVOT S1 S2 R1 R2
S above the important resistance level of 28950 then
MCX 28600 28400 28950 29150 29150 will act as next resistance level. On the other
COME 1250 1240 1265 1275 hand 28600 will act as a major support level.

SILVER COMEX SILVER

Silver showed bullish movement and found the important

PIVOTS S1 S2 R1 R2 resistance level of 40250. Now if it will close above the
important resistance level of 40250 then 40750 will act
MCX 39600 39100 40250 40750
as next resistance level. On the other hand 39600 will
COMEX 16.90 16.80 17.30 17.40
act as a major support level.

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 Crude and Copper

CRUDE COMEX CRUDE

Crude showed bullish movement and find the important

PIVOTS S1 S2 R1 R2 resistance level of 3360. Now if it will close above the
important resistance level of 3360 then 3410 will act as
MCX 3250 3200 3360 3410
next resistance level. On the other hand 3250 will act as
COMEX 50.40 50.00 51.70 52.20
a major support level.

COPPER COMEX COPPER

Copper showed bullish movement and find the

important resistance level of 374. Now if it will close
PIVOTS S1 S2 R1 R2
above the important resistance level of 374 then 379
MCX 366 361 374 379 will act as next resistance level. On the other hand 366
COMEX 2.5500 2.5400 2.5900 2.6000 will act as a major support level.

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 Other Commodities

PIVOT

COMMODITIE S1 S2 R1 R2 VOLUME OI TREND

S

ALUMINIUM 124 122 128 130 5399 2467 Bullish

LEAD 132 130 137 140 17639 3947 Bullish

NICKEL 590 570 615 635 28614 32724 Bullish

ZINC 168 166 174 176 22957 5410 Bullish

NATURAL GAS 207 202 210 215 41775 4805 Bearish

LME INVENTORY
dasdasdinkjjlfcnl
Due to Summer
COMMODITIES Bank Holiday NO LME
17/05/2017 DATA TODAY
18/05/2017 19/05/2017 22/05/2017 23/05/2017

ALUMINIUM -9475 -11400 -8700 -11350 -6025

COPPER +17199 +750 -3700 -4350 -2425

LEAD +550 +650 -25 -1200 +300

NICKEL +90 -516 -930 -36 -444

ZINC -1600 -2825 -2200 -2325 -1200

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 Agri Commodity Updates

GUARSEED
Guarseed showed bearish movement and found the
important support level of 3550. If prices sustains
below 3550 level in next trading session then this
momentum can take prices to 3500 level. If it breaks
the resistance level of 3630 then 3680 will act as
next resistance level.

PIVOTS S1 S2 R1 R2

3550 3500 3630 3680

JEERA
Jeera showed bearish movement today and found
the support level of 17800. If prices sustain below
17800 levels in next trading session then this
momentum can take prices to 17500 levels. If it
breaks the resistance level of 18300 then 18500 will
act as next resistance level.

PIVOTS S1 S2 R1 R2

17800 17500 18300 18500

SOYABEAN
Soyabean showed bearish movement and found the
important support level of 2775. If prices sustain
below 2770 level in next trading session then this
bearish momentum can take prices to 2740 level. If
it breaks the resistance level of 2800 then 2850 will
act as next resistance level.

PIVOTS S1 S2 R1 R2

2770 2750 2800 2850

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 Intraday Super Star
(Premium Section)

CALL: SELL SOYABEAN BELOW 2805 TARGETS 2775/2745 SL 2855.

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 Multibagger Call
(Premium Section)

CALL: SELL CRUDE BELOW 3290 TARGETS 3250/3210 SL 3360.

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 Trifid Special
(Premium Section)

CALL: BUY ZINC ABOVE 173 TARGETS 174/175 SL 171.

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