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2. 08/06/2017
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Crude oil futures slump on inventory built up:
Crude oil futures slumped on Wednesday, after data
showed that supplies of US crude rose for the first
time in nine weeks, adding to concerns that rising US
oil output would undermine Opec and its allies' efforts
to curb supply. With refinery activity on wane and
exports fading, the Energy Information
Administration (EIA) said crude inventories rose by
3.3 million barrels in the week ended June 2.
Gasoline inventories rose by 3.324m barrels, while
distillate stockpiles unexpectedly rose by 4.4m
barrels. Also, overseas, tensions between Iran and
Saudi Arabia threaten to kill OPEC's supply quota plan
that has thus far kept oil above $45 in 2017.
Copper futures end marginally higher on Wednesday:
Comex copper futures ended marginally higher on
Wednesday, while London copper prices too rose
after three days of declines as investors judged that a
sell-off had run its course despite weaker than
expected German manufacturing data that pointed to
lower demand.
Gold futures end lower on Wednesday:
Gold futures ended lower on Wednesday as the dollar
strengthened against a basket of major currencies
and after a written testimony by a former FBI director
to the US Senate was seen as containing few
surprises. Though, some losses were capped as
uncertainty from the UK election remained.
3. 08/06/2017
301, 3rd
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TECHNICAL ANALYST
OUTLOOK:
TREND: - UP
RESISTANCE: - 29450, 29550.
SUPPORT: - 29250, 29150.
STRATEGY: - BUY ON LOW.
GOLD
TECHNICAL OUTLOOK
The prices of Refined Gold declined ground with session ending at Rs 29417 per 10 grams down Rs 150 per 10
grams. The metal tested a high of Rs 29544 per 10 grams and a low of Rs 29388 per 10 grams. Resistance for Gold
is at Rs 29700 and 29800 per 10 grams. Meanwhile, Supports for Gold is at Rs 29200 per 10 grams.
4. 08/06/2017
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SILVER
OUTLOOK:
TREND: - UP
RESISTANCE: - 40700, 40850.
SUPPORT: - 40400, 40250.
STRATEGY: - BUY ON LOW.
TECHNICAL OUTLOOK
The Prices of silver were down on Wednesday. And at end of the day the prices were settled at 40552 per 30
kilogram. On the higher side Rs 40790 per 30 kilogram as resistances were noted while lows were at Rs 40412 per
30 kilograms as support noted. The metals remain under a volatile zone.
5. 08/06/2017
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COPPER
OUTLOOK:
TREND: - DOWN
RESISTANCE: - 369.50,372.
SUPPORT: -364.50, 362.
STRATEGY: - SELL ON HIGH
TECHNICAL OUTLOOK
The prices of copper minor up ticked in the session ending on Wednesday. The prices have been more or less static in
last few weeks. Indian Copper ended at Rs 363.60 per kg at the time of closing. On the higher side, Rs 364.50 per kg
was tested while on the lower side Rs 361.15 per kg was noted. Resistance for Copper is at Rs 368 and 370 per kg.
Supports of Copper are at Rs 358 and 355 per kg is active.
6. 08/06/2017
301, 3rd
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CRUDE OIL
OUTLOOK:
TREND: - DOWN
RESISTANCE: - 3000, 3030.
SUPPORT: - 2940, 2910.
STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK
Renewed buying interest was noted in Crude Oil prices the session saw benchmark contract dipping by Rs 121. The
prices of Crude Oil ended at Rs 2969 per barrel. On the higher side Rs 3111 per barrel was tested. On the lower side
Rs 2954 per kg was noted. Resistance for Crude Oil is at Rs 3100 and 3150 per barrel. Supports for Crude Oil is at Rs
3050 per barrel.
7. 08/06/2017
301, 3rd
Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801
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