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23 02 2018

23/02/2018

301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

23 02 2018 1

23/02/2018

Market Update (Energy):

Crude oil may move in range of 4040-4110 as some

profit booking can be seen after yesterday rally. Oil

prices edged up on Friday, supported by lower U.S.

crude inventories, but gains were capped by a surge in

U.S. exports that dragged net imports in the world's

biggest fuel consumer to a record low. U.S. crude oil

stockpiles fell by 1.6 million barrels in the week to Feb.

16, to 420.48 million barrels, the Energy Information

Administration (EIA) said on Thursday. The fall in

inventories initially sparked price rises in late Thursday

trading, but momentum faded in Asia on Friday as the

focus turned on high U.S. exports. U.S.

Market

Metals): London copper eased on Friday and

was headed for a small weekly drop as the dollar

gained steam this week on rising expectations of U.S.

interest rate hikes, but prospects of demand were rosy

given a healthy outlook for global economic growth.

Copper stocks held in warehouses registered with

COMEX in the United States stand at 228,428 tonnes,

up from below 90,000 tonnes at the start of 2017.

Market Update (Bullions):

Update

(Base

Gold prices slipped on Friday on a stronger

dollar and the yellow metal was on track for its

sharpest weekly drop in 2-1/2 months. Dallas

Federal Reserve Bank President Robert Kaplan

said on Thursday that three U.S. interest-rate

increases in 2018 is "appropriate" but that

stronger-than-expected economic data could

change that. U.S. Treasuries pared price gains

on Thursday after the U.S. government sold new

seven-year notes to slightly soft demand, the

final sale of $258 billion in debt this week. The

number of Americans filing for unemployment

benefits fell to a near 45-year low last week.

301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

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23/02/2018

TECHNICAL ANALYST

GOLD

GOLD

OUTLOOK:

TREND: - DOWN

RESISTANCE: - 30600, 30700.

SUPPORT: - 30400, 30300.

STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK

TECHNICAL OUTLOOK

Gold daily chart has formed "Ascending broadening wedge” pattern. The last few

sessions been bearish in trend after retesting a resistance slope trend line inside the

channel. As per the technical aspects of the pattern, a long-term bullish momentum is

indicated in the upcoming session as the 50-day moving average crossovers the 100-day

moving average in the technical chart. The market is expected to retest a key support at

$1320(30240) and turn bullish. The upside rally could test $1340-1350(30740-30990)

levels in upcoming weeks. Alternatively, if the market breaks below the key support, then

sellers might take control over the same. Resistance holds at $1350(30990).

301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

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23/02/2018

OUTLOOK:

SILVER

SILVER

TREND: - DOWN

RESISTANCE: - 38700, 38900.

SUPPORT: - 38300, 38100.

STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK

TECHNICAL OUTLOOK

Silver hourly chart has formed “Symmetrical triangle” pattern. The last session ended up

retesting the channel’s resistance slope line near 38750. As per the technical aspects of

the pattern, the market is expected to continue in bearish momentum. The downside rally

could test all the way through 38400-38200 levels in the upcoming sessions.

Alternatively, if the market breaks above the resistance level, then it might turn bullish.

The upside rally could test 39000-39500 levels. Support holds at 38200.

301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

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23/02/2018

COPPER

COPPER

OUTLOOK:

TREND: - DOWN

RESISTANCE: - 462.50,465.

SUPPORT: -457.50, 455.

STRATEGY: - SELL ON HIGH.

TECHNICAL OUTLOOK

TECHNICAL OUTLOOK

Copper 4hr chart has formed "Inverse head and shoulders” pattern. The last session

seems bullish in trend and has ended up near the pattern’s neckline. The market is

expected to continue in bullish momentum, once the same breaks above the key

resistance level at 465. The upside rally could test all the way through 467-470 levels in

upcoming weeks. Alternatively, if the resistance holds strong then the market might retest

the same and turn bearish. The downside rally could test all the way through 460-455.

Support holds at 454.

301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

23 02 2018 5

23/02/2018

CRUDE OIL

CRUDE OIL

OUTLOOK:

TREND: - UP

RESISTANCE: - 4100, 4130.

SUPPORT: - 4040, 4010.

STRATEGY: BUY ON LOW.

TECHNICAL OUTLOOK

TECHNICAL OUTLOOK

Crude oil 4hr chart has formed “Rising channel” pattern. The last session ended up bullish

after retesting the channel’s support slope line. The market is expected to continue in

bullish momentum, once the same breaks above a key resistance level holding at

$63(4088). The upside rally could test all the way through $64-65(4153-4218) 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 $62-61(4023-3958) levels.

Support holds at $61(3958).

301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900

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23/02/2018

DISCLAIMER

DISCLAIMER

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

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can change without notice. Analyst or any person related to Trade India Research

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23/02/2018

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