Commodity Daily Pridiction Report By TradeIndia Research

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2. Energy:-Crude oil may trade on volatile path as oil markets were cautious early on Friday, held back by concerns over a global economic slowdown but supported by supply cuts led by producer club OPEC and U.S. sanctions against Venezuela. Weighing on financial markets, including crude oil futures, were concerns that trade disputes between the United States and China would remain unresolved, denting global economic growth prospects. U.S. President Donald Trump said on Thursday he did not plan to meet with Chinese President Xi Jinping before a March 1 deadline set by the two countries to achieve a trade deal. Base Metal:- Base metals prices may trade with sideways to negative bias. Copper may test 442 while facing resistance near 450 in MCX. London copper prices slid for a second session on Friday with concerns over global economic growth and U.S.-China trade tensions weighing on the market. Weak data in recent weeks in key global economies, including in top metals consumer China, has stoked fears of a recession. Chilean state copper miner Codelco saw a 1.9 percent drop in its output in 2018. Bullions:- Bullion counter may trade in narrow range as gold held steady on Friday on worries that a protracted Sino-U.S. trade war could worsen global economic slowdown, but a strong dollar put bullion on track for its first weekly loss in three. Gold (Apr) can face resistance near 33350 while it has support near 33000. Silver can dip lower as it can test 39700 while facing resistance near 40300. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801

3. TECHNICAL ANALYST GOLD GOLD OUTLOOK: TREND: - UP RESISTANCE: - 33230, 33330 SUPPORT: - 33030, 32930 STRATEGY: - SELL ON HIGH. TE TECH CHNI NICAL CAL O OUTLOOK UTLOOK MCX Gold April futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Last few sessions ended up bearish in trend along with some corrections inside the channel, where the market is expected to continue on bearish momentum. The continuation of the trend will be confirmed once the prices breaks below a key support holding at 33100. The negative rally could be extending all the way up to 33000-32900 levels in the upcoming sessions. An alternative scenario indicates that if the key support holds strong then the market might have a chance to retest the same and revise the trend to bullish once again. The upside rally could test up to 33350-33500 levels. Key resistance holds at 33500. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801

4. OUTLOOK: SILVER SILVER TREND: - DOWN RESISTANCE: - 40050, 40350 SUPPORT: - 39650, 39450 STRATEGY: - SELL ON HIGH. TE TECH CHNI NICAL CAL O OUTLOOK UTLOOK MCX Silver March futures technical chart has taken the formation of “Megaphone chart” pattern in daily time frame. Last few sessions ended up bearish in trend along with some corrections inside the channel, where the market is expected to continue on the bearish trend. The continuation of the trend will be confirmed once the prices breaks below a key support holding at 39800. The negative rally could be extending all the way up to 39650-39500 levels in the upcoming sessions. An alternative scenario indicates that if the key support holds strong then the market might retest the same and revise the trend to bullish once again. The upside rally could test up to 40000-40300 levels. Key resistance holds at 40300. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801

5. COPP COPPER ER OUTLOOK: TREND: - DOWN RESISTANCE: - 447.50,451. SUPPORT: -441.50, 438. STRATEGY: - BUY ON LOW. TE TECH CHNI NICAL CAL O OUTLOOK UTLOOK Copper daily chart has formed “Right angled descending broadening wedge” pattern. The last session been in bearish trend after few positive rallies inside the channel. The market is expected to continue on bearish momentum based on the current price action, once the same breaks below a key support holding at 444. The downside rally could be testing all the way through 440-435 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test up to 448-452 levels. Key resistance holds at 452. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801

6. CR CRUDE UDE OIL OIL OUTLOOK: TREND: - DOWN RESISTANCE: - 3760, 3790. SUPPORT: - 3700, 3670. STRATEGY: - SELL ON HIGH. TE TECH CHNI NICAL CAL O OUTLOOK UTLOOK MCX Crude Oil futures technical chart has taken the formation of “Right angled Ascending broadening wedge” pattern in daily time frame. Previously few sessions ended up in bearish trend along with some corrections inside the channel. As per the technical aspects based on the current price action, the market is expected to continue on bearish trend. The continuation of the trend will be confirmed once the prices breaks below a key support holding at 3660. The negative rally could be testing all the way up to 3600-3500 level in the upcoming sessions. An alternative scenario indicates that if key support holds strong then the market might retest the same and revise the trend to bullish once again. Such reversal could possibly test up to 3850-3950 levels. Key resistance holds at 3950. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801

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