The document provides a technical analysis of commodity markets. It summarizes that gold and silver prices are expected to rise further based on technical indicators showing bullish momentum. Copper prices are also expected to rise while crude oil prices may fall based on breakdown of support levels. It provides analysis of movements in other base metals and energy commodities as well as international commodity and currency markets.

1. Equities I Commodities I Currencies I Mutual Funds
Aaj Ka Trend
Technical View:
MCX Gold price has given a breakout of its rising trend line
at 29160 levels on the hourly chart. Moreover, MCX Gold
prices have been trading above 21 HEMA on the hourly chart.
In addition, COMEX Gold price has shown a breakout of its
horizontal trend line at $1227 levels. Moreover, Momentum
Indicator RSI has shown bullish range shift on the hourly chart.
For now, we expect prices should move higher
towards 29700 levels in the coming trading sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
Bullions
MCX Gold Apr. Hourly Chart CMP: 29350
MCX Gold (Apr) Trend: Bullish
Price potential: 29700 Reversal: 29130
MCX Silver Mar. 4 Hourly Chart CMP: 42450
Technical View:
On the 4 hourly chart, MCX Silver price has given a breakout of
its inverted Head & Shoulder neckline at 42220 levels. On the
other hand, COMEX Silver price has given a breakout of its
horizontal trend line at $17.65 levels. Moreover, MCX Silver
prices have been trading above its 21 HEMA. In addition,
momentum indicator MACD has shown positive crossover on
the 4 hourly chart, which indicates possibilities of further
upside in the prices. For now, we expect prices to move
higher towards 43300 levels in few trading sessions.
MCX Silver (Mar) Trend: Bullish
Price potential: 43300 Reversal: 41900
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Gold 29210 29116 29051 29275 29369 29433 29657
Silver 42233 41997 41823 42407 42643 42817 43400
09th Feb’17

2. Equities I Commodities I Currencies I Mutual Funds
Technical View:
MCX Copper price has taken the support of its rising trend
line at 388 levels on the hourly chart. On the hourly chart,
MCX Copper prices have been trading above its 200 HEMA.
Furthermore, momentum indicator MACD has shown
positive crossover on 4 hourly time frame, which suggests
further upside momentum can be seen in the prices. For
now, we expect prices to move higher towards 404 levels
in coming trading sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
MCX Copper Feb. Hourly Chart CMP: 396
MCX Copper (Feb) Trend: Bullish
Price potential: 404 Reversal: 391
MCX Crude Oil Feb. Hourly Chart CMP: 3520
Technical View:
MCX Crude Oil price has given a breakdown of its falling
channel pattern at 3531 levels on the hourly chart. NYMEX
Crude Oil prices have given the a breakdown of its rising
trend line at $53.70 levels on the hourly chart. MCX Crude Oil
has shown breakdown of its rising trend line at 3531 levels
on the hourly chart. Moreover, Momentum indicator MCAD
has given negative crossover on hourly chart which suggests
negative movement in the prices. For now, we expect
prices to move lower towards 3400 levels in coming trading
sessions.
MCX Crude Oil (Feb) Trend: Bearish
Price potential: 3400 Reversal: 3580
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Copper 389.7 387.9 385.5 392 394 396 403
Crude 3483 3455 3403 3535 3563 3615 3746
Base Metal
Energy
Aaj Ka Trend
09th Feb’17

3. Equities I Commodities I Currencies I Mutual FundsSEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
Other Base Metals & Energy
S1 S2 S3 Pivot R1 R2 R3 Trend
Copper 389.7 387.9 385.5 392 394 396 403
Aluminum 122.4 121.9 121.6 122.7 123.1 123.4 124.5
Lead 156.8 155.2 154.4 157.5 159.1 159.9 163.0
Nickel 693.1 688.6 683.9 697.8 702.3 707.0 720.9
Zinc 186.9 185.1 184.2 187.9 189.7 190.6 194.3
Natural Gas 208.3 204.6 202.2 210.7 214.4 216.8 225.3
Fundamental News:
 Gold prices fell modestly in European morning trade on Wednesday, but remained supported close to the prior
session's three-month high amid growing concerns over political risks in Europe and economic uncertainty in the
U.S.
 Investors were largely focused on French politics, with recent opinion polls showing centrist Emmanuel Macron
slightly ahead of conservative Francois Fillon in the first round, but behind far-right National Front leader
Marine Le Pen. She has vowed to pull France out of the euro zone and hold a vote on its membership in the
European Union.
 Traders also eyed political risk elements in the U.S., with President Donald Trump's administration on the back
foot over its immigration and other policies.
 The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major
currencies, was up 0.2% at 100.55 in early trade, pulling away from last week's two-month low of 99.19.
 The Fed, which raised rates in December, has forecast three rate increases this year. However, traders
remained unconvinced, with markets continuing to price in just two rate hikes during the course of this year.
 Gold prices rose for the fifth day in a row on Wednesday, extending a rally to a fresh three-month high amid
ongoing worries over political risks in Europe and economic uncertainty in the U.S.
 Elsewhere in metals trading, copper futures jumped 4.1 cents, or almost 1.6%, to $2.673 a pound, on news that
workers at the Escondida copper mine in Chile, the largest in the world, were set to strike on Thursday.
Aaj Ka Trend
09th Feb’17

4. Equities I Commodities I Currencies I Mutual FundsSEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
International Market
Commodity Closing Price
Gold 1244
Silver 17.82
Crude Oil 51.80
Brent Crude Oil 55
Natural Gas 3.11
COMEX/NYMEX/ICE ( Precious Metals & Energy) Currency & Commodity Index
Currency (Spot) Current Price
USD / INR 67.04
Dollar Index 100.18
EUR / USD 1.06
CRB Index* 191.35
Closing as on 08.02.17 *Closing as on 08.02.17
LME (Base Metals) ( $ per tones)
Commodity Closing Price
Copper 5795
Aluminum 1831
Zinc 2795
Lead 2345
Nickel 10355
SHFE (Base Metals) (Yuan per tones)
Commodity Closing Price
Copper 47700
Aluminum 13805
Zinc 23075
Lead 19395
Closing as on 08.02.17 Closing as on 08.02.17
LME INVENTORY DATA
Aaj Ka Trend
02-Feb-17 03-Feb-17 06-Feb-17 07-Feb-17 08-Feb-17
Aluminium -6875 -7024 -6874 5524 -9250
Copper -1350 -2351 -3426 -247 1275
Lead 325 -152 100 100 -425
Nickel -522 -149 104 1115 -48
Zinc -1625 -1826 -3148 -2802 -1450
09th Feb’17

5. Equities I Commodities I Currencies I Mutual Funds
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Amit Pathania
Research Associate
amit.pathania@choiceindia.com
www.choicebroking.incustomercare@choiceindia.com
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
Aaj Ka Trend
09th Feb’17
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Research Advisor
neeraj.yadav@choiceindia.com
Anish Vyas
Senior Research Associate
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Kkunal Parar
Digitally signed by Kkunal Parar
DN: cn=Kkunal Parar, o=Choice Equity
Broking Pvt Ltd., ou=Research Dept.,
email=kkunal.parar@choiceindia.com, c=IN
Date: 2017.02.09 09:12:39 +05'30'