09/11/2017

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Crude oil futures decline for the second day in a row:

Crude oil futures declined on Wednesday, second

day in a row after data showed crude supplies
rose unexpectedly, while production jumped to a
record all-time high last week offsetting a larger-
than-expected draw in refineries. The Energy
Information Administration (EIA) reported that
inventories of U.S. crude rose by roughly 2.2
million barrels for the week ended Nov. 4.
Gasoline inventories fell by 3.3 million barrels,
while supplies of distillate fell by about 3.4
million barrels. U.S. crude oil imports averaged
about 7.4 million barrels per day last week, down
by 194,000 barrels per day from the previous
week.

Copper futures end higher on

Wednesday:
Copper futures ended higher on Wednesday,
despite customs data showing a sharp drop in
imports by China as the country's winter anti-
pollution program cuts down refinery and blast
furnace production. Chinas unwrought copper
imports fell in October from a month earlier to
their lowest since April as prices soared to their
highest in more than three years, while
concentrate arrivals also slipped.

Gold futures end higher on Wednesday:

Gold futures ended higher on Wednesday as

investors grew more skeptical that the White
House will be able to push through its tax
overhaul in coming months.

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TECHNICAL ANALYST

GOLD
OUTLOOK:

TREND: - UP

RESISTANCE: - 29600, 29750.

SUPPORT: - 29400, 29250.

STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK

Gold futures for December delivery gained $7.90, or 0.6 percent to settle at $1,283.70 an ounce on the
Comex division of the New York Mercantile. While, spot gold was up 0.6 percent at $1,283.20 an ounce.
The Prices of Gold were gained on Wednesday from the previous close. And at end of the day the prices
were settled at 29535 per 10 gram. On the higher side Rs 29583 per 10 gram as resistances were noted
while lows were at Rs 29420 per 10 grams as support noted. The metals remain under a volatile zone.

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OUTLOOK:
SILVER
TREND: - UP

RESISTANCE: - 39950, 40250.

SUPPORT: - 39550, 39350.

STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK

The Prices of silver were gained on Wednesday from the previous close. And at end of the day the prices
were settled at 39888 per 30 kilogram. On the higher side Rs 40100 per 30 kilogram as resistances were
noted while lows were at Rs 39583 per 30 kilograms as support noted. The metals remain under a
volatile zone.

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 09/11/2017

COPPER
OUTLOOK:

TREND: - UP

RESISTANCE: - 445.50,448.

SUPPORT: -440.50, 438.

STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK

COMEX Copper is hovering around its one week low on thin speculative demand and poor Chinese imports.
October customs data from China showed import volumes of unwrought copper slipped to the lowest since
April, totalling 330,000 tonnes during the month, down more than 20% from September. Imports are
down nearly 8% over the first 10 months of 2017 to 3.76m tonnes compared to the same period in 2016,
according to media reports. COMEX Copper futures are trading down 0.30% at $3.08 per pound. This
should pull MCX Copper lower in opening moves after the local futures closed flat around Rs 445 per kg
mark.

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 09/11/2017

CRUDE OIL
OUTLOOK:

TREND: - UP

RESISTANCE: - 3740, 3770.

SUPPORT: - 3670, 3640.

STRATEGY: - SELL ON HIGH.

TECHNICAL OUTLOOK

Crude Oil is expected to remain the fuel with the largest share in the energy mix throughout the forecast
period to 2040, according to the 2017 OPEC World Oil Outlook (WOO) update. Long-term oil demand has
been revised upward by 1.7 million barrels a day (mb/d) compared to the WOO 2016, with total demand
at over 111 mb/d by 2040.

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