01/01/2018

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Market Update (Energy):

U.S. Energy Information Administration data showed.
U.S. oil prices closed above $60 a barrel on the final
trading day of the year, the first time since mid-2015, as
the commodity ended 2017 with a 12 percent gain
spurred by strong demand and declining global
inventories. Natural gas can move on upside path in
range of 185-195. Natural gas futures hit near four-
week highs on Friday and were poised for their best
weekly gain since July last year on higher demand
expectations. Production was expected to continue
rising through 2017 and into 2018, analysts and traders
said, driven by rising exports and growing oil demand.

Market Update (Base

Metals):
China's copper smelters on Friday lowered the floor
for their treatment and refining charges (TC/RCs) in
the first quarter of 2018 by 8.4 percent, signalling
tighter supply of copper concentrate in the first three
months of the New Year. Copper prices continued
their march higher on Thursday, rallying to their
highest level in almost four years and putting the
metal on track for its best year since 2010, in a
welcome development for some of the world’s largest
mining companies following years of oversupply. The
metal is set to end the year up more than 30 per cent,
helped by strong global economic growth and robust demand in China, the world’s biggest consumer..

Market Update (Bullions):

Gold extended its rally to a three-month high on
Friday, leaping toward its biggest one-year rise in
seven years as a wilting U.S. dollar, political tensions
and receding concerns over the impact of U.S.
interest rate hikes fed into its rally. Gold's gains
coincide with the greenback, in which gold is priced,
sliding toward its worst year since 2003, damaged
by tensions over North Korea, the Russian scandal
surrounding U.S. President Donald Trump's election
campaign, and persistently low U.S. inflation.

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TECHNICAL ANALYST

GOLD
OUTLOOK:

TREND: - UP

RESISTANCE: - 29220, 29320.

SUPPORT: - 29020, 28920.

STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK

Gold 4Hr chart has formed “Megaphone chart” pattern. The last few sessions have been
sideways but bullish in trend as the market has already broken the channel’s resistance
line. As per the technical aspects, the market is expected to continue in the same trend
and the rally could test $1315-1320(29315-29440) levels in the upcoming sessions.
Resistance holds same at $1320(29440) and Previous resistance become Support at
$1300(28940).

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OUTLOOK:
SILVER
TREND: - UP

RESISTANCE: - 39330, 39530.

SUPPORT: - 38830, 38630.

STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK

Silver daily chart continues in “Descending broadening wedge” pattern. The last few
sessions been strongly bullish which indicates that buyers are still in control over the
market. Market is expected to continue in the same trend. Once the same breaks above
the channel’s resistance line, buy signal will be confirmed once again and the upside rally
could test all the way through 39700-40000 levels in the upcoming sessions.
Alternatively, if the channel’s resistance line holds strong then market might have a
chance to turn bearish. Major Resistance holds at 40000 and Key support at 37740.

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COPPER
OUTLOOK:

TREND: - UP

RESISTANCE: - 468.50,471.

SUPPORT: -462.50, 460.

STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK

Copper daily chart has formed “Rising wedge” pattern. The last market session seems
broken the support slope line which has triggered the bearish momentum. The market is
expected to continue in the bearish momentum and the downside rally could test 464-460
levels in the upcoming sessions. Resistance holds at 468 and support at 460.

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CRUDE OIL

OUTLOOK:

TREND: - UP

RESISTANCE: - 3850, 3880.

SUPPORT: - 3790, 3760.

STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK

Crude Oil daily chart has formed “Bullish pennant chart” pattern. The last few sessions have
been bullish strengthened by a break in the pattern itself. As per the technical aspects,
market is expected to continue in the same trend and the rally could test $60.50-61(3863-
3895) levels in upcoming sessions. Resistance holds same at $61(3895) and Support at
$59.50(3800).

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