12/01/2018

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Market Update (Energy):

Crude oil may remain on positive path as it may move
in range of 4050-4130. Oil prices eased on Friday after
hitting their highest levels since December, 2014 the
previous day. Despite the dip, analysts said market
fundamentals going into 2018 were strong due to
ongoing production cuts led by the Organization of the
Petroleum Exporting Countries (OPEC) and Russia that
coincide with healthy demand growth. OPEC has acted
successfully to reduce the inventory overhang and
demand growth remains robust in the short term.

Market Update (Base

Metals):
Base metals complex may witness bounce back at
lower levels as strong China export data to can give
support to the prices. China’s exports rose more than
expected in December, but import growth slowed
dramatically, helping to drive up the country’s trade
surplus. China’s December imports missed market
expectations, rising only 4.5 percent yearon-year,
while exports beat forecasts with 10.9 percent growth,
official data showed on Friday. Copper may trade in
range of 452-460.
Market Update (Bullions):
Gold prices rose for a third straight session on
Friday on a weaker dollar, with the precious metal
on track for a fifth straight weekly gain. The euro
jumped against the dollar as the European Central
Bank signalled it could begin to wind down its 2.5
trillion euro ($3.01 trillion) stimulus program this
year. The ECB should revisit its communication
stance in early 2018, accounts of its December
meeting showed, suggesting that policymakers
could soon start preparing markets for the end of
the bank's massive stimulus.

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TECHNICAL ANALYST

GOLD
OUTLOOK:

TREND: - UP

RESISTANCE: - 29550, 29650.

SUPPORT: - 29350, 29250.

STRATEGY: - SELL ON HIGH.

TECHNICAL OUTLOOK

Gold 4hr chart has formed “Bullish Rectangle chart” pattern. The last session seems
consolidated but bullish in trend ended up near the resistance level. The market is likely
to continue on the same trend once it breaks above the resistance level holding at
$1327(29400). The upside rally could test all the way through $1330-1335(29475-29600)
levels in the upcoming sessions. Support holds at $1310(28975).

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OUTLOOK:
SILVER
TREND: - UP

RESISTANCE: - 39300, 39500.

SUPPORT: - 38900, 38700.

STRATEGY: - SELL ON HIGH.

TECHNICAL OUTLOOK

Silver 4hr chart has formed “Descending broadening wedge” pattern. The last few
sessions been bearish in trend ended near the channel’s support slope line. Exclusively
last session ended up retesting the support level at 38770 and turned bullish. The market
is expected to continue in bullish and the upside rally could test all the way through
39000-39200 levels in the upcoming sessions. Alternatively, if the market breaks below
the support then it might continue in bearish momentum. Major Resistance holds near
39300.

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COPPER
OUTLOOK:

TREND: - SIDEWAYS

RESISTANCE: - 458.50,461.

SUPPORT: -452.50, 450.

STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK

Copper daily chart has formed “Bullish flag chart” pattern. The last few sessions seems
consolidated but bearish in trend. Exclusively the last session ended up retesting the
channel’s resistance slope line. The market is expected to continue on the bearish trend,
testing all the way through 452.50-450 levels in the upcoming sessions. Alternatively, if
market breaks above the resistance slope line then it might continue in bullish trend.
Resistance holds at 460and Previous resistance become Support at 452.50.

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CRUDE OIL

OUTLOOK:

TREND: - UP

RESISTANCE: - 4080, 4110.

SUPPORT: - 4020, 3990.

STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK

Crude Oil daily chart has formed “Rising channel” pattern. The trend remains consolidated
as the last session seems have retested the channel’s resistance slope line. As per the
technical aspects of the pattern, the retest is likely to turn the trend to bearish. Once the
same breaks below the interim support line, sell signal will be confirmed. The downside rally
could test $63-62(4008-3944) levels in the upcoming sessions. Alternatively, if market
breaks above the resistance level then it might continue in bullish trend. Resistance holds
at $64(4071) and support at $60(3817).

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