26/09/2017

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Crude oil futures surge on hopes of Opec members

reaching an agreement:

Crude oil futures extended their gains on Monday,

amid growing expectations that producers will extend
output cuts sooner rather than later. Traders also
cheered signs that the market is starting to
rebalance. Opec members expressed an eagerness to
reach a decision this year, fuelling expectations that
an extension to the global accord to curb production
beyond the March 2018 will be agreed sooner rather
later. Though, traders were keeping a close eye on
North Korea tensions. North Korean Foreign Minister
Ri Yong Ho claimed recent comments by President
Donald Trump represent a 'declaration of war.

Copper futures trade lower on

Monday:

Comex copper futures ended lower on Monday, while

London copper prices too fell marginally after
touching a one-month low on Friday. The red metal
has been under heavy selling pressure after Federal
Reserve members said they planned to raise rates
one more time this year.

Gold futures end higher on Monday:

Gold futures ended higher on Monday as declines

in the US stock market and growing tensions
between the US and North Korea lifted prices for
the yellow metal to the highest settlement in more
than a week.

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TECHNICAL ANALYST

GOLD
OUTLOOK:

TREND: - UP

RESISTANCE: - 30250, 30350.

SUPPORT: - 29900, 29800.

STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK

Gold futures for December delivery gained $14, or 1.08 percent, to settle at $1,311.50 an ounce on the Comex
division of the New York Mercantile. While, spot gold was up 0.85 percent at $1,308.06 an ounce. MCX Gold futures
ended around Rs 30039 per 10 grams in the last session and should see choppy moves today.

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OUTLOOK:
SILVER
TREND: - UP

RESISTANCE: - 40700, 40900.

SUPPORT: - 40300, 40100.

STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK

The Prices of silver were gained on Monday. And at end of the day the prices were settled at 40276 per 30 kilogram.
On the higher side Rs 40433 per 30 kilogram as resistances were noted while lows were at Rs 39538 per 30
kilograms as support noted. The metals remain under a volatile zone.

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COPPER
OUTLOOK:

TREND: - UP

RESISTANCE: - 431,433.50.

SUPPORT: -426, 423.50.

STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK

The latest data for the weekly Commitment of Traders (COT) report, released by the Commodity Futures Trading
Commission (CFTC) on Friday, showed that Large speculators sharply decreased their net positions in the Copper
futures markets last week bringing bullish bets lower for a second week following eight weeks of gains, according to
the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on
Friday. On MCX copper price was trading on 425.15, made days high and low respectively 425.35 and 422.15 which
are acting as day resistance and support.

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 26/09/2017

CRUDE OIL

OUTLOOK:

TREND: - UP

RESISTANCE: - 3460, 3490.

SUPPORT: - 3400, 3370.

STRATEGY: - SELL ON HIGH.

TECHNICAL OUTLOOK

WTI Crude oil futures have extended their recent gains to hit a five month high above $52 per barrel today on strong
speculative demand and continued firmness in sentiments. MCX Crude oil futures ended at Rs 3410 per barrel, up
3.74% on the day. Expect further upside in the counter today. Large energy speculators sharply added to their bullish
net positions in the WTI Crude Oil futures markets last week, according to the latest Commitment of Traders (COT)
data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts
of WTI Crude Oil futures, traded by large speculators and hedge funds, totaled a net position of 418,074 contracts in
the data reported through Tuesday September 19th. This was a jump of 43,594 contracts from the previous week.

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