Daily Commodity Prediction Report 05.06.2018 by TradeIndia Research

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2. 5/06/2018 Energy:- Crude oil may remain on weaker side as increase in US production is keeping the prices subdued. Oil prices edged higher on Tuesday after falling nearly 2 percent in the previous session, but growing U.S. production and expectations of higher OPEC supplies continue to weigh on sentiment. Crude oil can take support near 4300 and it has resistance near 4420 in MCX The Organization of the Petroleum Exporting Countries (OPEC) is due to meet in Vienna on June 22 to decide whether the group and non-OPEC members including Russia will raise production to ease concerns over potential supply shortfalls from Iran and Venezuela. Base:- Base metals can trade on mixed path .Recently supply concerns supported base metals while trade war concerns is keeping investors jittery. Copper can take support near 457 and can face resistance near 468. Copper was largely unchanged on Tuesday as the market took a breather after climbing to a near two-week high in the previous session on support from potential supply disruptions amid wage talks at the world's biggest mine. The union at BHP's Escondida mine in Chile said on Friday that it had begun negotiations with a proposal that includes a bonus of about $34,000 per worker. Bullions Bullion counter can trade sideways to weak bias on fear of interest rate hike by fed in this month meeting. Gold prices held steady on Tuesday after three days of falls, as the dollar rose to a near two-week high against the yen after strong U.S. economic data sparked expectations of more U.S. interest rate hikes. U.S. Treasury yields rose on Monday with the 10-year yield hitting one-week highs as investors pared safe-haven holdings of lower-risk government debt due to fading fears about political turmoil in Italy and Spain. Gold (Aug) can take support near 30700 and can face resistance near 31100 in MCX. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801

3. 5/06/2018 TECHNICAL ANALYST GOLD GOLD OUTLOOK: TREND: - UP TECHNICAL OUTLOOK TECHNICAL OUTLOOK RESISTANCE: - 30900, 31100 SUPPORT: - 30500, 30400 STRATEGY: - BUY ON LOW. futures technical MCX megaphone” pattern in daily time frame. Last few sessions been bearish in trend inside the channel where the market is expected to rally furthermore on the same trend. The downside rally could test all the way through 30450-30200 levels in the upcoming Gold chart has taken the formation of 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801 sessions. An alternative scenario indicates that if the market breaks above a key resistance zone near 30800, it might turn to bullish term once again. Support holds at 30200.

4. 5/06/2018 OUTLOOK: SILVER SILVER TREND: - UP RESISTANCE: - 39800, 40000 SUPPORT: - 39400, 39200 STRATEGY: - BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Silver 4hr chart has formed “Falling wedge” pattern. The last session ended up bearish in trend near retesting the channel’s resistance slope line. The market is expected to continue on a bearish momentum, once the same breaks below a key support holding at 39450. The downside rally could test all the way through 39300-39150 levels in the upcoming sessions. Alternatively, if the support holds strong then the market might retest the same and turn bullish once again. The upside rally could test 39800-40000 levels. Key resistance holds at 40000. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801

5. 5/06/2018 COPPER COPPER OUTLOOK: TREND: - UP RESISTANCE: - 467.50,470. SUPPORT: -462.50, 460. STRATEGY: - BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Copper hourly chart has formed “Bearish megaphone” pattern. The last session ended up bullish in trend as the prices have broken out the channel’s resistance slope line. The market is expected to continue on a bullish momentum, once the same breaks above a key resistance holding at 466. The upside rally could test all the way through 468-470 levels in the upcoming sessions. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish. The downside rally could test 464-462 levels. Key support holds at 462. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801

6. 5/06/2018 CRUDE OIL CRUDE OIL OUTLOOK: TREND: - DOWN RESISTANCE: - 4400, 4430. SUPPORT: - 4340, 4310 STRATEGY: - BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK MCX Crude Oil futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. The last few sessions ended up bearish in trend near the channel’s support slope line. As per the technical aspects of the pattern, the market is expected to retest the same and turn bullish. The positive rally could be testing all the way through 4420-4500 levels in the upcoming sessions. An alternative scenario indicates that if the market been able to break below a key support zone near 4320, then it might continue in bearish term. The downside rally could test 4250-4200 levels. Key resistance holds at 4500. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801

7. 5/06/2018 DISCLAI DISCLAIMER MER The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility. The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailor-made investment advice. Trade India Research Recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. Trade India Research shall not be responsible for any transaction conducted based on the information given in this report, which is in violation of rules and regulations of NSE and BSE. The share price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice. Analyst or any person related to Trade India Research 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801

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