The document provides a technical analysis of various commodities including gold, silver, copper, crude oil, and natural gas. It notes that gold and silver prices are expected to rise further based on technical indicators showing strength. Copper and crude oil prices are expected to fall based on indicators showing weakness like breakdown of support levels. Natural gas prices are also expected to decline. The analysis provides support and resistance levels as well as trends for each commodity discussed. It also includes fundamental news on commodities and international commodity prices.

1. Equities I Commodities I Currencies I Mutual Funds
Aaj Ka Trend
Technical View:
On hourly chart, MCX Gold prices have been trading in rising
channel formation and prices have been taking support of its
lower band of channel pattern at 27630 levels. In addition,
MCX Gold prices have been trading above its 100 HEMA on
hourly chart. Moreover, Momentum Indicator RSI have shown
bullish range shift on hourly chart, which gives the sign of
bullishness in the prices. For now we expect prices should
move higher towards 28350 levels in the coming trading
sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
Bullions
MCX Gold Feb. Hourly Chart CMP: 28051
MCX Gold (Feb) Trend: Bullish
Price potential: 28350 Reversal: 27800
MCX Silver Mar. 4 Hourly Chart CMP: 40688
Technical View:
On 4 hourly chart, MCX Silver price has given breakout of its
falling trend 40080 levels. On the other hand, MCX Silver price
has been trading above its 100 HEMA, which indicates short
term trend remains up. Moreover, COMEX Silver prices have
been taking support of its rising trend line at $16.10 levels on
hourly chart. In addition, momentum indicator RSI has taken
support of its rising trend line at 53 levels on 4 hourly chart,
which indicates strength in the prices. For now we expect
prices to move higher towards 41200 levels in few trading
sessions.
MCX Silver (Mar) Trend: Bullish
Price potential: 41600 Reversal: 40150
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Gold 27892 27776 27711 27957 28150 28350 28450
Silver 40331 40013 39803 40541 40859 41069 41806
10th Jan’17

2. Equities I Commodities I Currencies I Mutual Funds
Technical View:
MCX Copper price has been trading in falling channel
pattern and prices have been hovering around its
resistance of its upper band of channel pattern at 386 levels
on daily chart. In addition MCX Copper prices are trading
below its 21 HEMA. Furthermore, momentum indicator
MACD has remained below signal line on daily time frame,
which suggest further down side momentum can be seen.
For now we expect prices to move lower towards 374
levels in coming trading sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
MCX Copper Feb. Daily Chart CMP: 382.95
MCX Copper (Feb) Trend: Bearish
Price potential: 374 Reversal: 388
MCX Crude Oil Jan. Hourly Chart CMP: 3574
Technical View:
MCX Crude Oil prices has given breakdown of its rising trend
line at 3610 levels on hourly chart. MCX Crude Oil is trading
below its 50 HEMA on hourly chart. On the other hand,
NYMEX WTI Crude oil price has shown breakdown of its rising
trend line at $54 levels. Moreover, Momentum indicator
MACD has shown negative crossover and moving below its
signal line on hourly chart which suggest negative movement
in the prices. For now we expect prices to move lower
towards 3470 levels in coming trading sessions.
MCX Crude Oil (Jan) Trend: Bearish
Price potential: 3470 Reversal: 3635
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Copper 380.3 377.9 375.7 382.5 384.9 387.1 393.9
Crude 3532 3496 3425 3603 3639 3710 3888
Base Metal
Energy
Aaj Ka Trend
10th Jan’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 380.3 377.9 375.7 382.5 384.9 387.1 393.9
Aluminum 116.6 115.8 115.4 117.1 117.8 118.3 120.0
Lead 141.3 139.4 138.0 142.7 144.6 146.0 150.6
Nickel 703.1 698.3 695.1 706.3 711.1 714.3 725.4
Zinc 179.0 176.7 175.3 180.4 182.6 184.0 189.1
Natural Gas 208.7 204.4 196.7 216.4 220.7 228.4 248.1
Fundamental News:
 Gold prices climbed toward a five-week high on Monday, extending overnight gains as market participants
continued to debate the expected pace for U.S. interest rate hikes in 2017.
 Gold tallied a gain of about 2% last week, its best weekly performance in two months, after minutes from the
Federal Reserve’s December meeting unsettled investors’ expectations about the pace of future interest rate
hikes.
 U.S. jobs data released Friday showed a slowdown in hiring in December but a pickup in wage growth, indicating
that the economy is improving enough for the Fed to keep pushing up interest rates.
 However, traders remained unconvinced of the U.S. central bank's projection of three rate hikes in 2017.
Instead, investors are pricing in just two rate hikes during the course of this year, according to Fed Rate Monitor
Tool.
 Oil turned sharply lower Monday as the number of rigs operating in the U.S. continued to increase.
 An increase in North American shale activity could erode the positive impact of agreed output cuts elsewhere.
 Baker Hughes U.S. rig count data Friday showed an increase of 4 rigs to 529 in the latest reporting week, the
highest level in about a year.
 OPEC and non-OPEC producers have agreed to cut output by some 1.8 million barrels a day from the start of this
year for a period of six months.
 Investors are also looking to output levels by producers exempt from the cuts such as Iran, Libya and Nigeria.
 The dollar index was higher. A stronger dollar weakens demand for oil.
Aaj Ka Trend
10th Jan’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 1184.93
Silver 16.63
Crude Oil 52.06
Brent Crude Oil 55.05
Natural Gas 3.130
COMEX/NYMEX/ICE ( Precious Metals & Energy) Currency & Commodity Index
Currency (Spot) Current Price
USD / INR 68.21
Dollar Index 101.64
EUR / USD 1.0610
CRB Index* 190.60
Closing as on 09.01.17 *Closing as on 09.01.17
LME (Base Metals) ( $ per tones)
Commodity Closing Price
Copper 5591
Aluminum 1726
Zinc 2667
Lead 2108
Nickel 10390
SHFE (Base Metals) (Yuan per tones)
Commodity Closing Price
Copper 45710
Aluminum 12580
Zinc 22190
Lead 18575
Closing as on 09.01.17 Closing as on 09.01.17
LME INVENTORY DATA
Aaj Ka Trend
03-Jan-17 04-Jan-17 05-Jan-17 06-Jan-17 09-Jan-17
Aluminium -3750 -5701 25975 5425 -1101
Copper -10401 -5949 -4100 -6650 -224
Lead -51 -1000 -25 -175 -402
Nickel 787 -343 -804 -805 1094
Zinc -475 54 -175 -75 -375
10th Jan’17

5. Equities I Commodities I Currencies I Mutual Funds
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error in the information contained in this recommendation or any action taken on basis of this information. Technical analysis studies market psychology,
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Contact Us
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
10th Jan’17
Neeraj Yadav
Research Advisor
neeraj.yadav@choiceindia.com
Anish Vyas
Senior Research Associate
anish.vyas@choiceindia.com
Anish Vyas
Digitally signed by Anish Vyas
DN: cn=Anish Vyas, o=Choice Merchandise
Broking Pvt. Ltd, ou=Sr. Research Associate,
email=anish.vyas@choiceindia.com, c=IN
Date: 2017.01.10 08:55:14 +05'30'