COMMODITY DAILY

As on Wednesday, September 06, 2017

Global Market Round Up

Commodities traded mixed with Bullion traded firm with weaker dollar World Economic Data
and safe have amid tensions in Korean Peninsula. Crude oil prices traded Country Time Data Actual Forecast Previous
higher due to Hurricane Harvey. Base metals witnessed profit booking
5-Sep-17
with weaker US data paring previous gains in evening session.
US 19:30 Factory Orders -3.30% -3.30% -3.20%
Asian stocks fell on Wednesday after a slide on Wall Street overnight 6-Sep-17
while the dollar was on the defensive with tensions in the Korean US 18:00 Trade Balance - -44.6 -43.6
peninsula showing few signs of abating. US 19:30 ISM Non Manufactuing PMI - 55.8 53.9

On data calendar, US trade balance and Non-Manufacturing PMI to be

eyed for the day. The market movement will be mainly depending on
equity market and dollar index movements.

Dollar Index Weekly Chart USDINR Spot Weekly Chart

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COMMODITY DAILY
As on Wednesday, September 06, 2017

Technical Trend Guider

Commodity Contract S2 S1 Key Level R1 R2 Intraday Trend Overall Trend

MCX Gold Oct 28800 28900 30250 30300 30380 Bullish Bullish
MCX Silver Dec 40900 41200 41500 41800 42100 Bullish Bullish
MCX Crude oil Sep 3070 3100 3140 3170 3200 Bullish Bullish
MCX Natural gas Sep 186.0 189.0 192.0 195.0 198.0 Bearish Bullish
MCX Copper Sep 443.0 446.0 448.0 451.0 453.0 Bearish Bullish
MCX Nickel Sep 755.0 765.0 775.0 785.0 795.0 Bearish Bullish
MCX Lead Sep 146.8 147.8 149.0 150.2 151.5 Bearish Bearish
MCX Zinc Sep 196.0 197.5 199.0 200.5 202.0 Bearish Bullish
MCX Aluminum Sep 130.5 131.8 133.0 134.2 135.1 Bearish Bearish

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 COMMODITY DAILY
As on Wednesday, September 06, 2017

Bullion
Trend: Sideways to down
Bullion
Commodity Open High Low Close % Change Open Int Volume Levels to watch: Gold 30050-
MCX Gold 30178 30243 29955 30223 0.39 7693 12052 30280, Silver 41200/41800
COMEX Spot Gold 1334.25 1344.33 1325.99 1339.45 0.45 - -
Event/Data to watch: Dollar index
MCX Silver 41500 41650 41236 41421 0 10806 17332 movement, US data
COMEX Spot Silver 17.86 18.01 17.76 17.86 -0.01 - -

Gold silver prices traded firm on safe haven buying with tensions on North Korea and decline in dollar index. Prices are trading below $1340
witnessing important resistance. The tension in Koran peninsula and US Fed uncertainty has increased ETF inflows at 840.08 tones.
Silver prices traded higher with strong base metals and buying in precious metals. Prices may trade sideways to down initially however overall
trend to remain bullish for near term.
We expect bullion prices to trade sideways to down today, however current risk sentiment and weaker dollar may limit down side in the prices
with Gold resistance at $1345, support at $1325. Silver resistance at $18.10, support at $17.60.

COMEX Gold Weekly Chart COMEX Silver Daily Chart

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 COMMODITY DAILY
As on Wednesday, September 06, 2017

Energy

Energy Trend: Sideway to up

Commodity Open High Low Close % Change Open Int Volume
Levels to watch: Crude oil 3070
MCX Crude Oil 3045 3142 3043 3122 2.39 15648 148646 3150, Natural Gas 186-195
NYMEX WTI Crude Oil 47.08 47.35 46.56 47.29 0.13 - -
MCX Natural Gas 194 195.6 190.6 191.4 -0.93 5836 40436 Data to Watch: Dollar Index
Move, US data
NYMEX Natural Gas 3.027 3.088 2.998 3.07 6.15 - -

Crude oil prices traded firm on mixed global cues. Prices witnessed buying with production disruption after Hurricane Harvey and decline
in product inventories. Prices are currently caught in tug of war between higher supplies and production cut effects.
The rising output from Libya and increasing U.S. production has pressured oil prices limiting the up side while development in OPEC
compliance and Russia supporting for more production cut mat keep prices firm.
Natural gas prices traded lower witnessing minor correction with normal temperatures. Prices are caught in supply demand expectations
ahead of summer demand. We expect prices to trade sideways to down with Support at186, resistance at 195.

MCX Crude Oil Daily Chart MCX Natural Gas Daily Chart

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 COMMODITY DAILY
As on Wednesday, September 06, 2017

Base Metals
Base Metals Trend: Bullish
Commodity Open High Low Close % Change Open Int Volume
Levels to watch: Copper 443-451,
MCX Copper 449.1 451.35 442.8 445 -0.73 21299 36942 Zinc 196-201
MCX Nickel 785.9 785.9 763.2 768.2 -2.15 8348 34729
MCX Lead 153 153.45 148 148.7 -2.43 2779 17090 Data to watch: Dollar index
movement, US data
MCX Zinc 204.8 205.6 197.9 199.05 -3.07 8556 25894
MCX Aluminum 134.45 135.1 133.1 133.35 -1.22 4126 6448

Base metals prices witnessed correction trade lower with weak US data and tensions in Koran peninsula. The continuous weaker data from US
has raised questions regarding future demand and Fed rate hike.
Aluminum prices declined with rise in inventories at LME and decline in physical premiums while other metals decline on demand concerns
from over bought territory.
We expect prices to trade sideways to down with copper support at 443, resistance at 451. Zinc support at 196, resistance at 201 and Nickel
support at 760, and resistance at 790.

MCX Copper Daily Chart MCX Nickel Weekly Chart

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COMMODITY DAILY
As on Wednesday, September 06, 2017

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