12/07/2017

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Crude oil futures rally on report of lower US production

output:

Crude oil futures bounced back and rallied on

Tuesday, after U.S officials lowered their domestic oil
production outlook for next year. The Energy
Information Administration (EIA) cut the 2018 U.S.
oil-output forecast by 1% to 9.9 mln bbls/day. Also, a
report showed European product stockpiles fell
despite an increase in refinery crude runs. European
refineries increased their crude oil intake in June, but
stocks of oil products, particularly diesel. US oil
production has jumped more than 10 percent over
the last year to 9.34 million bpd. Nigeria and Libya,
OPEC members exempt from production limits, have
also increased output.

Copper futures end higher on

Tuesday:
Comex copper futures ended higher on Tuesday, while
London copper prices too rose after a rapid build-up of
inventories that has weighed on the market since late June
halted and workers voted to strike at a mine in Chile,
raising supply concerns.

Gold futures end higher on Tuesday:

Gold futures ended higher on Tuesday, as a drop in

equities drove safe-haven buying and the US dollar
retreated. Meanwhile, the Commerce Department
released a report showing that the Wholesale
inventories in the US rose by slightly more than
anticipated in the month of May. The Commerce
Department showed that wholesale inventories
climbed by 0.4 percent in May following a revised
0.4 percent drop in April. Traders are looking
ahead to Congressional testimony from Federal
Reserve Chair Janet Yellen Wednesday.

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 12/07/2017

TECHNICAL ANALYST

GOLD
OUTLOOK:

TREND: - UP

RESISTANCE: - 28150, 28300.

SUPPORT: - 27750, 27600.

STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK

Gold had a minor respite from the selling pressure as prices moved by 0.13% to end at Rs 27830 per 10 grams. The
yellow metal was at Rs 27870 per 10 grams during one point of the day. Lows of Rs 27678 per 10 grams was noted
last evening. The pressure in Gold is expected to ease but for some brief sessions. Supports are active at Rs 27500
and 27400 per 10 grams. On the other hand, Gold is resisted at Rs 28200 per 10 grams.

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OUTLOOK:
SILVER
TREND: - UP

RESISTANCE: - 37250, 37500.

SUPPORT: - 36800, 36600.

STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK

The Prices of silver were gained on Tuesday. And at end of the day the prices were settled at 36771 per 30 kilogram.
On the higher side Rs 36824 per 30 kilogram as resistances were noted while lows were at Rs 36060 per 30
kilograms as support noted. The metals remain under a volatile zone.

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 12/07/2017

COPPER
OUTLOOK:

TREND: - UP

RESISTANCE: - 387,389.50.

SUPPORT: -382, 379.50.

STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK

Copper regained some lost confidence in the trading session ending 11 July 2017. The prices moved ahead and
closed above all important Rs 382.5 per kg. The metal got a boost of 0.86%. Further efforts on the part of buyers
can take Copper towards Rs 385 and 387 per kg. Floor is getting fixed at Rs 378 per kg.

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 12/07/2017

CRUDE OIL

OUTLOOK:

TREND: - UP

RESISTANCE: - 2980, 3010.

SUPPORT: - 2920, 2890.

STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK

The prices of Crude Oil rejuvenated with gains. The prices of Crude Oil were gained by Rs 2912 per barrel. The prices
tested a high of Rs 2926 per barrel and a low of Rs 2836 per barrel. Crude Oil is resisted at Rs 2972 per barrel while
the supports for is at crude oil is at Rs 2820 per barrel.

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