09/10/2017

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Crude oil futures slump on concern of as Tropical Storm

Nate:

Crude oil futures once again ended in red on Friday

as investors braced for a potential disruption to some
oil production in the Gulf of Mexico, with Tropical
Storm Nate expected to arrive as a Hurricane on
Sunday amid renewed oversupply concerns, as the
wide gap between Crude and Brent prices is expected
to incentivize US producers to ramp up production
and exports. Ongoing geopolitical uncertainty in Iraq
too weighed down the sentiments, as the fallout over
an independence referendum in Iraqs Kurdistan
region threatens to disrupt supply.

Comex copper futures end

lower on Friday:
Comex copper futures ended lower on Friday.
Meanwhile, London copper prices too fell, but
registered its largest weekly gain since late August
underpinned by expectations of strong demand from
worlds top consumer China.

Gold futures end higher on Friday:

Gold futures ended higher on Friday. Investors

offered a mixed reaction to monthly US jobs data
and looked to comments from Federal Reserve
officials for clues on the central banks plan for
interest rates. The US jobs count shrank by 33,000
jobs in September, due in part to Hurricane
Harvey. It was the first contraction in seven years.
The unemployment rate dipped to 4.2% as fewer
people were looking for work.

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 09/10/2017

TECHNICAL ANALYST

GOLD
OUTLOOK:

TREND: - UP

RESISTANCE: - 29800, 29900.

SUPPORT: - 29600, 29500.

STRATEGY: - SELL ON HIGH.

TECHNICAL OUTLOOK

MCX Gold should be in a good mood today. The government suspended GST notification on gems and jewellery
stating that PAN card will no longer be mandatory on the purchase of jewellery for over Rs 50,000. This is expected
to lift the sentiments at the start of the week. Global cues are also supported as COMEX Gold extended recovery from
two month low amid good bargain buying to close around $1280 per ounce levels. MCX Gold futures closed up 0.66%
at Rs 29580 per 10 grams in last session.

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 09/10/2017

OUTLOOK:
SILVER
TREND: - UP

RESISTANCE: - 40100, 40300.

SUPPORT: - 39700, 39500.

STRATEGY: - SELL ON HIGH.

TECHNICAL OUTLOOK

The Prices of silver were flat on Friday. And at end of the day the prices were settled at 39596 per 30 kilogram. On
the higher side Rs 39828 per 30 kilogram as resistances were noted while lows were at Rs 38710 per 30 kilograms as
support noted. The metals remain under a volatile zone.

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 09/10/2017

COPPER
OUTLOOK:

TREND: - UP

RESISTANCE: - 440,442.50.

SUPPORT: -435, 432.50.

STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK

COMEX Copper slipped from a three week high in last session as traders tried to reassess the real demand supply
dynamics amid mixed cues from equities. Copper soared last Thursday after an earthquake in the main copper
producing region of Chile boosted sentiments for the metal. COMEX Copper broke above $3 per pound but failed to
hold onto the rally. MCX Copper also soared 3% to approach Rs 440 levels on Thursday before edging lower on thin
buying. The local futures closed just under Rs 439 per kg levels.

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 09/10/2017

CRUDE OIL

OUTLOOK:

TREND: - DOWN

RESISTANCE: - 3270, 3300.

SUPPORT: - 3210, 3180.

STRATEGY: - SELL ON HIGH.

TECHNICAL OUTLOOK

Benchmark crude oil futures for November delivery ended lower by $1.49 or 2.95 percent at $59.29 a barrel on the
New York Mercantile Exchange. Brent crude for November delivery lost 2.23 percent to $55.70 a barrel on the ICE. On
MCX crude oil prices were 3240, made a high and low respectively 3323 and 3223.

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