The document provides a technical analysis of various commodities markets including gold, silver, copper, crude oil, and natural gas. It finds that gold and silver prices are bullish and expected to rise further in the near term. Copper and crude oil prices are bearish and forecast to decline. Natural gas prices rallied to a new eight-month high on lower than expected storage levels. Overall, the analysis indicates momentum and support/resistance levels that suggest further price movements in the coming sessions for various commodities.

1. Equities I Commodities I Currencies I Mutual Funds
Aaj Ka Trend
Technical View:
On Hourly chart MCX Gold prices have witnessed breakout of
its Rising Channel Pattern at 29932 levels. Moreover on
COMEX Gold prices have breached its horizontal trend line
resistance at $1270 levels. Counter is trading above its 50
HEMA on hourly time frame. Moreover, Momentum Indicator
RSI is trading above at 70 levels in hourly time frame. For now
we expect prices should move higher towards 30250 levels in
the coming trading sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
Bullions
MCX Gold August Hourly Chart CMP: 29930
MCX Gold (Aug) Trend: Bullish
Price potential: 30250 Reversal:29700
MCX Silver July Hourly Chart CMP: 40920
Technical View:
As expected MCX Silver prices traded on a higher side and
almost achieved our short term target of 41000 levels. MCX
Silver prices have witnessed breakout of Bullish Flag pattern
at 40713 levels on hourly time frame. On the other hand, MCX
Silver prices are trading above its 100 HEMA which indicates
positive confirmation to the prices. Moreover, momentum
indicator RSI is trading above 70 levels on hourly chart. For
now we expect prices to move higher towards 41550 levels
in few trading sessions.
MCX Silver (July) Trend: Bullish
Price potential: 41550 Reversal: 40550
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Gold 29697 29495 29175 29815 30017 30135 30455
Silver 40336 39908 39208 40608 41036 41308 42008
10th June’16

2. Equities I Commodities I Currencies I Mutual Funds
Technical View:
MCX Copper prices traded as per our line of expectation
and hit a intraday low of 298.05. On Hourly chart MCX
Copper has given breakdown of its Rectangle formation at
304.35 levels. Furthermore, Counter is trading below its 60
HEMA on hourly chart. On the other hand, momentum
indicator RSI has drift below 40 levels on hourly chart. For
now we expect prices to move lower towards 293.50 levels
in coming trading sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
MCX Copper June hourly Chart CMP: 301.95
MCX Copper (June) Trend: Bearish
Price potential: 293.50 Reversal: 308.50
MCX Crude Oil June. Hourly Chart CMP: 3373
Technical View:
On Hourly chart MCX Crude Oil prices have given breakdown
of its Rising wedge pattern at 3387 levels. On the other hand
counter is trading below its 21 HEMA on MCX Crude Oil
hourly chart. Furthermore, On daily chart Counter is holding
stiff resistance of horizontal trend line. Moreover,
Momentum indicator RSI has drift below 50 levels on hourly
chart. For now we expect prices to move lower towards
3280 levels in coming trading sessions.
MCX Crude Oil (June) Trend: Bearish
Price potential: 3280 Reversal: 3420
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Copper 296.0 292.2 282.4 301.9 305.8 311.7 321.4
Crude 3340 3305 3221 3389 3424 3473 3557
Base Metal
Energy
Aaj Ka Trend
10th June’16

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 296.0 292.2 282.4 301.9 305.8 311.7 321.4
Aluminum 104.2 103.1 100.2 106.1 107.1 109.0 112.0
Lead 112.5 111.0 106.7 115.3 116.8 119.6 123.9
Nickel 589.0 581.3 563.2 599.4 607.1 617.5 635.6
Zinc 135.4 133.3 129.0 137.6 139.7 141.9 146.2
Natural Gas 167.2 160.5 150.2 170.8 177.5 181.1 191.4
Fundamental News:
 Gold prices gained in Asia on Thursday ahead of price data from China expected to set the regional tone.
 Gold prices held gain in Asia on Thursday as China reported softer than expected consume inflation, setting
conditions in place for possible further monetary easing in China.
 Gold futures extended strong overnight gains in European trade on Thursday to hit a fresh three-week high as a
broadly weaker U.S. dollar due to fading expectations for a summer rate hike boosted the precious metal.
 Gold futures were slightly lower in North American trade on Thursday, pulling back from a three-week high hit
overnight, after data showed that the number of people who filed for unemployment assistance in the U.S. last
week fell unexpectedly.
 Crude prices held gains in Asia on Thursday as consumer prices fell more than expected in April, sparking
demand hopes for the key market that this week released data that showed a drop in oil imports.
 Oil prices added to overnight gains in European trade on Thursday, climbing to a fresh 11-month high after data
showed crude stockpiles in the U.S. fell for the third straight week last week.
 Oil prices edged lower on Thursday as traders took profits after three sessions of gains, though prices remained
close to their highest this year thanks to a fall in U.S. crude inventories and supply disruptions.
 Oil prices gave back some of their recent gains in North American trade on Thursday, as a rally which took prices
to the highest level since July prompted market players to lock in gains in a bout of profit-taking.
 U.S. natural gas futures rallied to a new eight-month high in North America trade on Thursday, after data
showed that natural gas supplies in storage in the U.S. rose less than expected last week.
Aaj Ka Trend
10th June’16

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 1269.10
Silver 17.29
Crude Oil 50.44
Brent Crude Oil 51.88
Natural Gas 2.59
COMEX/NYMEX/ICE ( Precious Metals & Energy) Currency & Commodity Index
Currency (Spot) Current Price
USD / INR 66.76
Dollar Index 94.22
EUR / USD 1.12
CRB Index* 195.05
Closing as on 09.06.16 *Closing as on 09.06.16
LME (Base Metals) ( $ per tones)
Commodity Closing Price
Copper 4515
Aluminum 1577
Zinc 2069
Lead 1702
Nickel 8935
SHFE (Base Metals) (Yuan per tones)
Commodity Closing Price
Copper 35270
Aluminum 11755
Zinc 15570
Lead 12725
Closing as on 09.06.16 Closing as on 09.06.16
LME INVENTORY DATA
Aaj Ka Trend
03-June-16 06-June-16 07-June-16 08-June-16 09-June-16
Aluminium -7540 -6600 -6650 -6650 -6700
Copper 150 20725 21825 11075 5925
Lead -100 50 50 -25 -768
Nickel -2892 -1365 738 -984 550
Zinc 2100 -950 -800 3075 -1250
10th June’16

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,
price patterns and volume levels. It is used to forecast future price and market movements. Technical analysis is complementary to fundamental analysis
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undertaken as the recommendations stated in this report is derived purely from technical analysis. Choice Broking has based this document on information
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Amit Pathania
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SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
Aaj Ka Trend
10th June’16
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Research Advisor
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Amit Pathania
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DN: cn=Amit Pathania, o=Choice Equity Broking Pvt. ltd,
ou=Research Department,
email=amit.pathania@choiceindia.com, c=IN
Date: 2016.06.10 08:45:39 +05'30'