17/10/2017

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Crude oil futures trade higher on MCX:

Crude oil futures traded higher on MCX, as

speculators indulged in creating speculative positions,
taking positive cues from Asian markets.

Copper futures end higher on

upbeat Chinese economic data:
Copper futures ended higher on Monday, marked a
more than three-year high as upbeat Chinese
economic data lifted demand prospects for the
industrial metal. Data showed China's producer prices
beat market expectations, rising 6.9 percent in
September from a year earlier. Last week, data
showed that the countrys imports rose 18.7 percent
in September from a year earlier.

Gold futures end lower as dollar strengthens:

Gold futures ended lower on Monday as the US

dollar strengthened against a basket of major
currencies, but lingering uncertainty about the
pace and scope of US interest-rate hikes beyond
December kept the yellow metal above the key
$1,300 level for a second session in a row.

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TECHNICAL ANALYST

GOLD
OUTLOOK:

TREND: - UP

RESISTANCE: - 29850, 29950.

SUPPORT: - 29650, 29550.

STRATEGY: - SELL ON HIGH.

TECHNICAL OUTLOOK

Large speculators reduced their net positions marginally in the Silver 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 Silver futures, traded by large speculators and hedge funds, totaled a net
position of 59,108 contracts in the data reported through Tuesday October 10th. This was a weekly drop of -71
contracts from the previous week. Speculative positions have now fallen for four straight weeks.

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OUTLOOK:
SILVER
TREND: - UP

RESISTANCE: - 40350, 40550.

SUPPORT: - 39900, 39700.

STRATEGY: - SELL ON HIGH.

TECHNICAL OUTLOOK

The Prices of silver were down on Monday. And at end of the day the prices were settled at 40341 per 30 kilogram.
On the higher side Rs 40632per 30 kilogram as resistances were noted while lows were at Rs 40305 per 30 kilograms
as support noted. The metals remain under a volatile zone.

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COPPER
OUTLOOK:

TREND: - UP

RESISTANCE: - 465,467.50.

SUPPORT: -460, 457.50.

STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK

COMEX Copper futures rose to a fresh three year high yesterday amid excellent buying as upbeat global equities
boosted the sentiments for red metal. The commodity has been holding up after latest data showed that China's
unwrought copper imports surged by 26.5% in September from a year ago. LME Copper futures managed to break
above the critical $7000 per tone in intraday moves. The COMEX Copper futures are currently trading at $3.23 per
pound, down marginally on the day. MCX Copper futures also soared to fresh contract high, surging above Rs 460 per
kg levels. The counter closed at Rs 463.60 per kg, up 3.50% on the day.

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CRUDE OIL
OUTLOOK:

TREND: - UP

RESISTANCE: - 3390, 3420.

SUPPORT: - 3330, 3330.

STRATEGY: - SELL ON HIGH.

TECHNICAL OUTLOOK

Large oil speculators cut their bullish net positions in the Crude Oil WTI 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 417,061 contracts in the data reported through Tuesday October 10th. This was a weekly reduction of
-27,255 contracts.

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