This document is a daily market reflection from Trifid Research dated May 5th 2017. It provides an overview of commodity price movements on the MCX and COMEX exchanges. Specific commodities like gold, silver, crude oil and copper are analyzed in terms of support and resistance price levels. The document also shares recent fundamental news in commodities markets and provides premium intraday calls for trading specific commodities.

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Daily Market Reflection
5th
May 2017
-
Market Outlook
Important Data
Market Updates
MCX Date Date % Chg
3-05-17 4-05-17
GOLD 28472 28072 -1.40%
SILVER 38573 38052 -1.35%
COPPER 362.25 358.55 -1.02%
CRUDE 3067 2931 -4.43%
ALUMINIUM 123.15 122.90 -0.20%
LEAD 140.85 141.20 +0.25%
NICKEL 595 580 -2.52%
ZINC 165 165.20 +0.12%
NATURALGAS 207.30 204.30 -1.45%
COMEX Date
3-05-17
Date
4-05-17
% Chg
GOLD 1248.50 1230.21 -1.46%
SILVER 16.546 16.355 -1.15%
CRUDE 47.82 45.57 -4.71%
COPPER 2.544 2.511 -1.32%
$ INDEX 99.26 98.68 -0.58%
USDINR 64.3625 64.3675 +0.01%
Gold prices dropped to a six-week low on Thursday, adding to
overnight losses after the Federal Reserve left the door open to
raising interest rates in June. Oil prices struggled near a five-week
low in European trading on Thursday, as concern over a global
supply glut lingered after data showed U.S. crude stockpiles fell less
than expected last week. Crude has been under pressure in recent
weeks amid fears that an ongoing rebound in U.S. shale production is
derailing efforts by other major producers to rebalance global oil
supply and demand.
Fundamental News
Gold continued to trade close to three-week lows, after better than
expected jobs and services sector growth data fuelled expectations
that the Federal Reserve would hike interest rates in June.
As rapid growth in U.S. shale production grabs headlines and
threatens to upend attempts by OPEC to balance oil markets, a
more unsung sector of the U.S. industry is also hitting new output
highs - the offshore Gulf of Mexico.
Time Currency Event Forecast Previous
6:00pm CAD Employment Change 20.0K 19.4K
6:00pm CAD Unemployment Rate 6.7% 6.7%
6:00pm USD
Average Hourly
Earnings m/m
0.3% 0.2%
6:00pm USD
Non-Farm Employment
Change 194K 98K
6:00pm USD Unemployment Rate 4.6% 4.5%
11:00pm USD
Fed Chair Yellen
Speaks
OUR PREVIOUS CALLS UPDATE
Intraday super star
Date Commodity Entry Exit P/L
4/05 LEAD 140.80 139.80 +5000
Multibagger
Date Commodity Entry Exit P/L
4/05 COPPER 361.50 358.50 +3000
Trifid special
Date Commodity Entry Exit P/L
4/05 GOLD 28400 28200 +20000
For our next calls click here……..
COMDEX

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Gold and Silver
SILVER COMEX SILVER
GOLD
PIVOTS S1 S2 R1 R2
MCX 28000 27700 28400 28700
COMEX 1225 1220 1235 1240
COMEX GOLD
Gold showed bearish movement and found the important
support level of 28020. Now if it will close below the
important support level of 28000 then 27700 will act as next
support level. On the other hand 28400 will act as a major
resistance level.
PIVOTS S1 S2 R1 R2
MCX 37800 37000 38500 39000
COMEX 16.00 15.70 16.50 16.70
Silver showed bearish movement and found the important
support level of 37827. Now if it will close below the
important support level of 37800 then 37000 will act as next
support level. On the other hand 38500 will act as a major
resistance level.

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Crude and Copper
CRUDE COMEX CRUDE
COPPER COMEX COPPER
PIVOTS S1 S2 R1 R2
MCX 2900 2850 3000 3050
COMEX 44.80 43.00 47.00 48.00
Crude showed bearish movement and found the important
support level of 2932. Now if it will close below the
important support level of 2900 then 2850 will act as next
support level. On the other hand 3000 will act as a major
resistance level.
PIVOTS S1 S2 R1 R2
MCX 355 350 365 370
COMEX 2.4600 2.4150 2.5400 2.6200
Copper showed bearish movement and found the
important support level of 355.80. Now if it will close
below the important support level of 355 then 350 will act
as next support level. On the other hand 365 will act as a
major resistance level.

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Other Commodities
Due to Summer Bank Holiday NO LME DATA TODAY
COMMODITIES S1 S2 R1 R2 VOLUME OI TREND
ALUMINIUM 121 118 125 127 5434 2434 Bearish
LEAD 140 138 142 145 14414 1695 Bullish
NICKEL 570 550 590 605 34352 38884 Bearish
ZINC 163 161 167 168 22439 3784 Bearish
NATURAL GAS 200 195 210 215 45398 6172 Bearish
PIVOT
S
COMMODITIES 27/04/2017 28/04/2017 2/05/2017 3/05/2017 4/05/2017
ALUMINIUM -3625 -6825 -12050 -16225 -7175
COPPER -900 -850 -6050 +31250 +32925
LEAD -350 -125 +4150 -725 +5550
NICKEL -336 +642 -462 +1290 +30
ZINC -825 -875 -825 -3500 +30
LME INVENTORY
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iInventory

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Agri Commodity Updates
JEERA
SOYABEAN
PIVOTS S1 S2 R1 R2
18200 18000 18500 18700
PIVOTS S1 S2 R1 R2
2830 2800 2870 2900
Jeera showed sideways movement today and found the
support level of 18200. If prices sustain below 18200
levels in next trading session then this momentum can
take prices to 18000 levels. If it breaks the resistance
level of 18500 then 18700 will act as next resistance
level.
Soyabean showed bearish movement and found the
important support level of 2830. If prices sustain below
2830 level in next trading session then this bearish
momentum can take prices to 2800 level. If it breaks
the resistance level of 2870 then 2900 will act as next
resistance level.
PIVOTS S1 S2 R1 R2
3665 3600 3750 3800
Guarseed showed bearish movement and found the
important support level of 3665. If prices sustains below
3665 level in next trading session then this momentum
can take prices to 3600 level. If it breaks the resistance
level of 3750 then 3800 will act as next resistance level.
GUARSEED

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Intraday Super Star
(Premium Section)
CALL: SELL NICKEL BELOW 578 TARGETS 568/558 SL 595.

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Multibagger Call
(Premium Section)
CALL: SELL COPPER BELOW 355 TARGETS 352/347 SL 359.

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Trifid Special
(Premium Section)
CALL: SELL GOLD BELOW 28000 TARGET 27900/27800 SL 28150.

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