MCX gold and silver prices are expected to move lower in the coming sessions as they have broken below rising trend lines and the 50-day moving averages on hourly charts. Momentum indicators are also showing bearish signals. Gold is forecast to fall to 28700 levels while silver may drop to 41600. MCX copper is predicted to decline towards 380 due to negative momentum and trading below the 50-day moving average. Meanwhile, MCX crude oil is anticipated to rise to 3650 as it found support at rising trend lines and is trading above the 21-day moving average, with momentum signals turning positive.

1. Aaj Ka Trend
Bullions
07th March’17
Technical View:
MCX Gold price has given a breakdown of its rising trend line
at 29190 levels on the hourly chart and price has almost
retested its breakdown trend line at 29189 levels. Moreover,
MCX Gold prices have been trading below 50 HEMA on the
MCX Gold Apr. Hourly Chart CMP: 28945
MCX Gold prices have been trading below 50 HEMA on the
hourly chart. Moreover, Momentum Indicator RSI on the
hourly chart remained below 60 levels on a daily chart. For
now, we expect prices should move lower
towards 28700 levels in the coming trading sessions.
MCX Gold (Apr) Trend: Bearish
Price potential: 28700 Reversal: 29220
MCX Silver May Hourly Chart CMP: 42429
Technical View:
MCX Silver price has given a breakdown of its rising trend line
at 42850 levels and price has almost retested the breakdown
trend moved within a narrow downwards channel and taken
the support of its horizontal line around 42380 levels on the
hourly chart. On the other hand, MCX Silver prices have been
trading below 50 HEMA hourly chart. Furthermore,
Momentum indicator RSI has remained below 60 levels on the
hourly chart. For now, we continue to remain bearish on
Silver and expecting a correction to towards 41600 levels inSilver and expecting a correction to towards 41600 levels in
few trading sessions.
MCX Silver (May) Trend: Bearish
Price potential: 41600 Reversal: 43100
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Gold 28881 28801 28647 29035 29115 29269 29657
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Silver 42350 42180 41955 42575 42745 42970 43589

2. Base Metal
Aaj Ka Trend
07th March’17
Technical View:
MCX Copper price has been moving in horizontal channel
pattern formation from past few months and price has
faced the resistance of its upper band of the pattern on the
4 hourly chart. On the 4 hourly chart, MCX Copper prices
h b t di b l 50 HEMA M t i di t
MCX Copper Apr. 4 Hourly Chart CMP: 391.85
have been trading below 50 HEMA. Momentum indicator
MACD has shown negative crossover on the 4 hourly time
frame, which suggests downside momentum in the
prices. For now, we expect prices to move lower
towards 380 levels in coming trading sessions.
MCX Copper (Apr) Trend: Bearish
Price potential: 380 Reversal: 396
MCX Crude Oil March. Hourly Chart CMP: 3550
Energy
MCX Crude Oil March. Hourly Chart CMP: 3550
Technical View:
MCX Crude Oil price had found support at 3510 levels of its
rising trend on the hourly chart. On the other hand, prices
have been trading above its 21 HEMA on the hourly chart.
Momentum indicator MACD has given positive crossover on
the hourly chart which suggests chances of a pullback in the
prices. However, the short term view remains bullish. For
h h d l lnow, we expect prices to move higher towards 3650 levels
in the few trading session.
MCX Crude Oil (March) Trend: Bullish
Price potential: 3650 Reversal: 3515Price potential: 3650 Reversal: 3515
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Copper 389.3 386.4 382.1 394 397 401 412
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Crude 3525 3505 3481 3549 3569 3593 3662

3. Other Base Metals & Energy
Aaj Ka Trend
07th March’17
gy
S1 S2 S3 Pivot R1 R2 R3 Trend
Copper 389.3 386.4 382.1 394 397 401 412
Al i 124 2 123 3 122 5 125 0 125 9 126 7 129 2Aluminum 124.2 123.3 122.5 125.0 125.9 126.7 129.2
Lead 147.8 146.0 144.7 149.0 150.8 152.1 156.4
Nickel 730.9 724.7 720.1 735.5 741.7 746.3 761.6
Zinc 180.9 179.1 176.7 183.3 185.1 187.5 194.0
Natural Gas 190.0 184.4 181.0 193.4 199.0 202.4 214.8
Fundamental News:
 Gold prices were higher during North American morning hours on Monday, kicking the week off with gains as a
missile launch by North Korea was the latest event to add to concerns about rising geopolitical tensions.
 Geopolitical tensions were in focus after North Korea fired four ballistic missiles early on Monday, three of
which landed in Japan's exclusive economic zone, an area extending about 230 miles out to sea from its
coastline.
 The move came just after Japanese media reported on Saturday U.S. Secretary of State Rex Tillerson is due to
visit Japan, South Korea and China this month to discuss North Korea on his first trip to the region since he took
up his post.
 U.S. political developments also remained in focus after President Donald Trump on Saturday accused his
predecessor Barack Obama of wiretapping him during the 2016 election campaign, an accusation rejected by
Obama and a top former intelligence official even as the White House urged Congress to investigate theObama and a top former intelligence official, even as the White House urged Congress to investigate the
allegation.
 Fed Chair Janet Yellen said on Friday that it “would be appropriate” for the U.S. central bank to raise its
benchmark interest rate at its next meeting on March 14‐15, should the U.S. economy continue to show robust
growth in terms of jobs and inflation.
 Besides the employment report, this week's calendar also features U.S. data on factory orders, trade figures,
ADP private sector nonfarm payrolls, weekly jobless claims and import prices.
Equities I Commodities I Currencies I Mutual FundsSEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
 U.S. factory orders rose more than expected at the start of 2017, official data showed on FridayIn a report, the
U.S. Census Bureau said factory orders increased by a seasonally adjusted 1.2% in January, above forecasts for a
gain of 1.0%. Factory orders gained 1.3% in December.

4. International Market
Aaj Ka Trend
07th March’17
Commodity Closing Price
Gold 1225.92
Silver 17.75
COMEX/NYMEX/ICE ( Precious Metals & Energy) Currency & Commodity Index
Currency (Spot) Current Price
USD / INR 66.72
Silver 17.75
Crude Oil 53.16
Brent Crude Oil 55.93
Natural Gas 2.882
Dollar Index 101.64
EUR / USD 1.06
CRB Index* 189.421
Closing as on 06.03.17 *Closing as on 06.03.17
LME (Base Metals) ( $ per tones)
Commodity Closing Price
Copper 5858
Aluminum 1876
Zinc 2740
SHFE (Base Metals) (Yuan per tones)
Commodity Closing Price
Copper 47660
Aluminum 13770
Lead 2243
Nickel 11095
Zinc 22225
Lead 17880
Closing as on 06.03.17 Closing as on 06.03.17
LME INVENTORY DATA
28‐Feb‐17 01‐March‐17 02‐March‐17 03‐March‐17 06‐March‐17
Aluminium ‐8650 ‐12500 ‐7625 ‐19850 ‐19400
Copper ‐3775 ‐2375 ‐725 ‐3575 38825
Lead ‐575 ‐150 300 ‐150 ‐25
Nickel ‐1146 312 666 ‐714 ‐450
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Zinc ‐1750 ‐50 ‐25 ‐1025 3400

5. Contact Us
Aaj Ka Trend
07th March’17
Contact Us
Amit Pathania
Research Associate
amit.pathania@choiceindia.com
Anish Vyas
Senior Research Associate
anish.vyas@choiceindia.com
Neeraj Yadav
Research Advisor
neeraj.yadav@choiceindia.com
www.choicebroking.incustomercare@choiceindia.com
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SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
Amit Pathania
Digitally signed by Amit Pathania
DN: cn=Amit Pathania, o=Choice Equity Broking
Pvt. ltd, ou=Research Department,
email=amit.pathania@choiceindia.com, c=IN
Date: 2017.03.07 09:06:25 +05'30'