The document provides a technical analysis of commodity markets including gold, silver, copper, crude oil, and natural gas. It finds that gold and silver prices are expected to move lower, while copper prices may rise higher. Crude oil prices are also expected to fall. Technical indicators like price patterns, momentum, and moving averages are cited in the analysis of each commodity. The document also provides updates on international commodity prices, currency markets, and commodity inventories.

1. Equities I Commodities I Currencies I Mutual Funds
Aaj Ka Trend
Technical View:
MCX Gold prices have witnessed breakdown of its rectangle
pattern at 31061 levels on hourly basis. On the other hand,
MCX Gold prices have been trading below its 100 HEMA which
indicates negative confirmation to the prices. Further, COMEX
Gold prices has witnessed breakdown of its triangle pattern at
$1340 levels on hourly chart. Moreover, Momentum Indicator
RSI is trading below its support at 25 levels on hourly time
frame. For now we expect prices should move lower towards
30650 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: 31035
MCX Gold (Aug) Trend: Bearish
Price potential: 30650 Reversal:31250
MCX Silver Sept Hourly Chart CMP: 47401
Technical View:
MCX Silver prices have been facing resistance of its upper
band of Rectangle pattern on hourly time frame. On the other
hand, MCX Silver prices have been trading below its 21 HEMA
which indicates negative confirmation to the prices.
Furthermore, COMEX Silver has witnessed triangle breakdown
at $20.10 levels on hourly time frame. Moreover, momentum
indicator RSI is trading below 40 levels on hourly chart. For
now we expect prices to move lower towards 46500 levels in
few trading sessions.
MCX Silver (Sept) Trend: Bearish
Price potential: 46500 Reversal: 47750
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Gold 31095 30949 30547 31351 31497 31753 32155
Silver 47605 47332 46739 47925 48198 48518 49111
13th July’16

2. Equities I Commodities I Currencies I Mutual Funds
Technical View:
MCX Copper prices has witnessed breakout of its Falling
channel Formation at 325.85 on hourly chart. On daily
chart, the MCX Copper price has completed a “Bullish 5 - 0
Harmonic Pattern” at 320 levels. Furthermore, prices have
been trading above its 50 HEMA on hourly chart. On the
other hand, momentum indicator RSI is trading above 60
levels on hourly chart. For now we expect prices to move
higher towards 337.50 levels in coming trading sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
MCX Copper Aug hourly Chart CMP: 330.15
MCX Copper (Aug) Trend: Bullish
Price potential: 337.50 Reversal: 324.50
MCX Crude Oil July. Hourly Chart CMP: 3135
Technical View:
MCX Crude Oil prices are facing resistance of its horizontal
trend line on hourly time frame. NYMEX WTI Crude Oil
prices is facing trend line resistance at $47 levels on 4 hours
chart. On the other hand prices have been trading below its
100 HEMA on MCX Crude Oil hourly chart. Moreover,
Momentum indicator RSI has shown Bearish range shift on
daily chart. For now we expect prices to move lower
towards 3045 levels in coming trading sessions.
MCX Crude Oil (July) Trend: Bearish
Price potential: 3045 Reversal: 3175
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Copper 323.2 319.0 312.3 325.8 330.0 332.5 339.3
Crude 3043 2970 2861 3079 3152 3188 3297
Base Metal
Energy
Aaj Ka Trend
13th July’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 323.2 319.0 312.3 325.8 330.0 332.5 339.3
Aluminum 110.8 109.7 107.8 111.5 112.7 113.4 115.2
Lead 123.2 121.2 118.0 124.3 126.4 127.5 130.6
Nickel 684.1 670.1 647.8 692.4 706.4 714.7 737.0
Zinc 144.4 142.2 138.6 145.7 148.0 149.3 152.8
Natural Gas 180.6 178.5 174.2 182.8 184.9 187.1 191.4
Fundamental News:
 Gold prices struggled for direction in subdued European trade on Tuesday, as market players awaited comments
from a barrage of Federal Reserve officials later in the session to judge the balance of opinion among
policymakers on the prospect of further rate hikes.
 Both gold and silver have been buoyed by Britain’s decision to leave the European Union.
Analysts believe we may be at the start of a new bull run.
 Gold prices were under heavy selling pressure in North American trade on Tuesday, as strong gains in global
equity markets dampened demand for the yellow metal.
 Oil bounced off two-month lows Tuesday, with Brent recovering the $47 mark.
 Oil prices rallied sharply in North American trade on Tuesday, after the Organization of the Petroleum Exporting
Countries forecast higher demand for its crude next year as the global surplus fades.
 OPEC cut its 2016 global growth forecast but upbeat on Crude Oil for 2017. OPEC cut its estimate for global
growth to 3.0% from 3.1% in wake of Brexit.
 OPEC on Tuesday gave an upbeat outlook for the oil market in 2017, saying global demand for its crude would
be higher than its current production and pointing to a supply deficit rather than a sizeable surplus that has
weighed on prices.
 U.S. natural gas futures were lower for the second straight session on Tuesday, extending losses from the
previous day as updated weather forecasting models pointed to mild temperatures across most parts of the U.S.
in the weeks ahead.
Aaj Ka Trend
13th July’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 1333.12
Silver 20.15
Crude Oil 46.33
Brent Crude Oil 47.94
Natural Gas 2.74
COMEX/NYMEX/ICE ( Precious Metals & Energy) Currency & Commodity Index
Currency (Spot) Current Price
USD / INR 67.18
Dollar Index 96.55
EUR / USD 1.1060
CRB Index* 190.22
Closing as on 12.07.16 *Closing as on 12.07.16
LME (Base Metals) ( $ per tones)
Commodity Closing Price
Copper 4869
Aluminum 1676
Zinc 2193.50
Lead 1868
Nickel 10490
SHFE (Base Metals) (Yuan per tones)
Commodity Closing Price
Copper 38570
Aluminum 12610
Zinc 17068
Lead 13150
Closing as on 12.07.16 Closing as on 12.07.16
LME INVENTORY DATA
Aaj Ka Trend
06-July-16 07-July-16 08-July-16 11-July-16 12-July-16
Aluminium -6825 -5925 -5775 -7075 -6050
Copper 10525 -1825 2500 -625 12150
Lead -350 -100 -125 -125 -125
Nickel -1266 636 -936 408 384
Zinc -350 -950 -575 -650 -125
13th July’16

5. Equities I Commodities I Currencies I Mutual Funds
This is solely for information of clients of Choice Broking and does not construe to be an investment advice. It is also not intended as an offer or solicitation
for the purchase and sale of any financial instruments. Any action taken by you on the basis of the information contained herein is your responsibility alone
and Choice Broking its subsidiaries or its employees or associates will not be liable in any manner for the consequences of such action taken by you. We
have exercised due diligence in checking the correctness and authenticity of the information contained in this recommendation, but Choice Broking or any of
its subsidiaries or associates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent
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
and news sources. The recommendations issued herewith might be contrary to recommendations issued by Choice Broking in the company research
undertaken as the recommendations stated in this report is derived purely from technical analysis. Choice Broking has based this document on information
obtained from sources it believes to be reliable but which it has not independently verified; Choice Broking makes no guarantee, representation or warranty
and accepts no responsibility or liability as to its accuracy or completeness. The opinions contained within the report are based upon publicly available
information at the time of publication and are subject to change without notice. The information and any disclosures provided herein are in summary form
and have been prepared for informational purposes. The recommendations and suggested price levels are intended purely for trading purposes. The
recommendations are valid for the day of the report however trading trends and volumes might vary substantially on an intraday basis and the
recommendations may be subject to change. The information and any disclosures provided herein may be considered confidential. Any use, distribution,
modification, copying, forwarding or disclosure by any person is strictly prohibited. The information and any disclosures provided herein do not constitute a
solicitation or offer to purchase or sell any security or other financial product or instrument. The current performance may be unaudited. Past performance
does not guarantee future returns. There can be no assurance that investments will achieve any targeted rates of return, and there is no guarantee against
the loss of your entire investment.
POTENTIAL CONFLICT OF INTEREST DISCLOSURE (as on date of report) Disclosure of interest statement – • Analyst interest of the stock
/Instrument(s): - No. • Firm interest of the stock / Instrument (s): - No.
Disclaimer
Contact Us
Amit Pathania
Research Associate
amit.pathania@choiceindia.com
Rohan Patil
Research Associate
rohan.patil@choiceindia.com
www.choiceindia.comcustomercare@choiceindia.com
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
Aaj Ka Trend
13th July’16
Neeraj Yadav
Research Advisor
neeraj.yadav@choiceindia.com
Anish Vyas
Senior Research Associate
anish.vyas@choiceindia.com
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: 2016.07.13 08:49:34 +05'30'