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14/03/2018

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14/03/2018

Market Update (Energy):


Crude oil may remain buoyant as it can test 3960 on
domestic bourses as expected decline in EIA inventory
data to give support to the prices. Oil prices edged up
on Wednesday after posting two days of declines at the
start of the week. Support came from a report that U.S.
crude inventories are not rising as much as expected
during the spring season now starting, implying healthy
demand, and from strong China data.

Market Update (Base


Metals): China's industrial output expanded

faster than expected at the start of the year,


suggesting the world's second-biggest economy has
sustained solid momentum despite a crackdown on
polluting industries and a campaign to reduce risks in
the financial system. London Metal Exchange copper
cut early losses to trade up by 0.4 percent to $6,970 a
tonne by 0313 GMT, adding to a 0.5 percent gain in the previous session, when prices edged up as the
dollar fell.

Market Update (Bullions):


Gold prices were largely steady on Wednesday
on a weaker dollar following U.S. Secretary of
State Rex Tillerson's sudden dismissal and after
consumer price data pointed towards a path of
gradual hikes in U.S. interest rates. Asian shares
eased amid fears of rising U.S. protectionism as
President Donald Trump fired his Secretary of
State, regarded as a moderate in his
administration, and eyes hefty tariffs on Chinese
imports.

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14/03/2018

TECHNICAL ANALYST

GOLD
OUTLOOK:

TREND: - UP

RESISTANCE: - 30600, 30700.

SUPPORT: - 30400, 30300.

STRATEGY: - SELL ON HGIH.

TECHNICAL OUTLOOK

Gold daily chart continues in "Falling wedge” pattern. The last few sessions seems
consolidated inside the channel. The market is expected to continue in bearish trend
along with a small correction over positive momentum to retest the channel’s resistance
slope line once again. The downside rally could test all the way through $1320-
1310(30202-22952) levels in the upcoming sessions. Alternatively, if the market breaks
above the key resistance level holding at $1335(30557) then it might turn to bullish. The
upside rally could test $1340-1350(30702-30952) levels. Key Support holds at
$1310(22952).

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14/03/2018

OUTLOOK:
SILVER
TREND: - UP

RESISTANCE: - 39200, 39400.

SUPPORT: - 38800, 38600.

STRATEGY: - SELL ON HIGH.

TECHNICAL OUTLOOK

Silver daily chart continues in "Symmetrical triangle” pattern. The last sessions ended up
consolidated near a key support level holding at 38500. The market is expected to
continue in bearish momentum, once the same breaks below the key support. The
downside rally could test all the way through 38250-38000 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 38900-39200 levels. Key
resistance holds at 39200.

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COPPER
OUTLOOK:

TREND: - DOWN

RESISTANCE: - 456.50,459.

SUPPORT: -452.50, 450.

STRATEGY: - SELL ON HIGH.

TECHNICAL OUTLOOK

Copper 4hr chart has formed "Falling wedge” pattern. The last session ended up
consolidated near the channel’s resistance slope line. The market is expected to continue
in bullish trend, once the same breaks above the key resistance level holding at 452. The
upside rally could test all the way through 454-456 levels in the upcoming sessions.
Alternatively, if the resistance holds strong then the market might retest the same and turn
bearish. Key support holds at 448.

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14/03/2018

CRUDE OIL

OUTLOOK:

TREND: - DOWN

RESISTANCE: - 3980, 4010.

SUPPORT: - 3920, 3890.

STRATEGY: SELL ON HIGH.

TECHNICAL OUTLOOK

Crude Oil 4hr chart has formed "Falling wedge” pattern. The last session ended up retesting
a key resistance level inside the channel holding at $61(3957). The market is expected to
continue in bearish, testing all the way through $60-59(3892-3827) levels in the upcoming
sessions. Alternatively, if the market breaks above the resistance level then it might turn
bullish once again. The upside rally could test $62-63(4022-4087) levels. Support holds at
$59(3827).

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14/03/2018
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