MCX gold and silver prices have broken out of patterns and trend lines, signaling further upside potential. MCX gold may rise to 29800 levels and MCX silver to 43800 levels. MCX copper and crude oil have faced resistance and fallen below moving averages, suggesting lower prices ahead, with MCX copper potentially falling to 388 levels and MCX crude oil to 3480 levels. The dollar has recovered slightly from losses but geopolitical concerns continue to support gold, while oil stocks remain at record highs, keeping oil prices rangebound.

1. Equities I Commodities I Currencies I Mutual Funds
Aaj Ka Trend
Technical View:
MCX Gold price has given a breakout of its Cup & Handle
pattern at 28870 levels on a daily chart and price has almost
retested its breakout trend line levels. Moreover, MCX Gold
prices have been trading above 21 DEMA on the daily chart. In
addition, COMEX Gold price has shown a breakout of its
horizontal trend line at $1230 levels. Moreover, Momentum
Indicator RSI has shown bullish range shift on the daily chart.
For now, we expect prices should move higher
towards 29800 levels in the coming trading sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
Bullions
MCX Gold Apr. Daily Chart CMP: 29358
MCX Gold (Apr) Trend: Bullish
Price potential: 29800 Reversal: 29150
MCX Silver Mar. Daily Chart CMP: 42937
Technical View:
On a daily chart, MCX Silver price has given a breakout of its
inverted Head & Shoulder neckline at 41980 levels and price
has rested its neckline breakout. On the other hand, COMEX
Silver price has given a breakout of its horizontal trend line at
$17.70 levels. Moreover, MCX Silver prices have been trading
above its 50 DEMA. In addition, momentum indicator RS has
remained above 60 levels, which indicates possibilities of
further upside in the prices. For now, we expect prices to
move higher towards 43800 levels in few trading sessions.
MCX Silver (Mar) Trend: Bullish
Price potential: 43800 Reversal: 42500
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Gold 29292 29223 29145 29370 29438 29517 29743
Silver 42813 42689 42596 42906 43030 43123 43433
20th Feb’17

2. Equities I Commodities I Currencies I Mutual Funds
Technical View:
MCX Copper prices have been trading in rising channel
pattern from past few months and price has faced the
resistance of its upper band of channel pattern at 414.40
levels. On the daily chart, MCX Copper prices have traded
below its 21 DEMA on a daily chart. Furthermore,
momentum indicator RSI has shown negative divergence on
a daily time frame, which suggests down momentum in the
prices. For now, we expect prices to move lower
towards 388 levels in coming trading sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
MCX Copper Feb. Daily Chart CMP: 400.20
MCX Copper (Feb) Trend: Bearish
Price potential: 388 Reversal: 405
MCX Crude Oil March. Daily Chart CMP: 3586
Technical View:
MCX Crude Oil price has faced the resistance of its rising
channel pattern and price has faced the resistance of its
upper band of channel pattern at 3780 levels. Moreover,
prices have been trading below 21 DEMA. Furthermore,
NYMEX Crude Oil prices have given a breakdown of its rising
trend line at $53.90 levels on the hourly chart. Moreover,
Momentum indicator RSI has remained below 60 levels on
the hourly chart which suggests negative movement in the
prices. For now, we expect prices to move lower towards
3480 levels in coming trading sessions.
MCX Crude Oil (March) Trend: Bearish
Price potential: 3480 Reversal: 3645
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Copper 396.8 393.4 390.6 400 403 406 415
Crude 3585 3566 3546 3605 3624 3644 3703
Base Metal
Energy
Aaj Ka Trend
20th 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 396.8 393.4 390.6 400 403 406 415
Aluminum 124.6 123.5 122.3 125.8 126.9 128.1 131.6
Lead 150.2 149.2 147.7 151.7 152.7 154.2 158.2
Nickel 730.2 720.6 715.6 735.2 744.8 749.8 769.5
Zinc 185.9 183.7 180.9 188.7 190.9 193.7 201.5
Natural Gas 190.1 187.9 184.1 193.9 196.1 199.9 209.8
Fundamental News:
 Gold prices slipped lower on Friday, as the U.S. dollar slightly recovered from losses posted in the previous
session, although ongoing geopolitical concerns were likely to continue to support safe-haven demand.
 The dollar regained some ground on Friday, helped by recent upbeat data and positive comments by Federal
Reserve Chair Janet Yellen.
 The U.S. Department of Labor reported on Thursday that initial jobless claims increased by 5,000 to 239,000 last
week, compared to expectations for a 11,000 rise to 245,000.
 The greenback had strengthened broadly after Ms. Yellen told the U.S. Senate Banking Committee on
Tuesday that the central bank will likely need to raise interest rates at one of its upcoming meetings.
 The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major
currencies, was up 0.09 at 100.54, off the previous session’s one-week low of 100.40.
 Gold Futures rallied for a second day on Thursday, amid a weaker US dollar and heightened concerns of political
uncertainty in the United States and Europe.
 Oil chalked up losses this week as the Energy Information Administration said Wednesday that U.S. stockpiles of
crude and gasoline hit record highs.
 Oil prices have been stuck in a narrow range around the lower-to-mid-$50s over the past two months as
investors weigh the impact of cuts in supply from the historic OPEC/non-OPEC agreement against record
stockpiles of crude and increased drilling activity in the United States.
 On that last note, investors also looked ahead to the Baker Hughes U.S. rig count data for the latest week.
Aaj Ka Trend
20th 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 1235.85
Silver 17.97
Crude Oil 53.38
Brent Crude Oil 55.73
Natural Gas 3.04
COMEX/NYMEX/ICE ( Precious Metals & Energy) Currency & Commodity Index
Currency (Spot) Current Price
USD / INR 67.07
Dollar Index 100.89
EUR / USD 1.06
CRB Index* 192.12
Closing as on 17.02.17 *Closing as on 17.02.17
LME (Base Metals) ( $ per tones)
Commodity Closing Price
Copper 5960
Aluminum 1860
Zinc 2809
Lead 2252
Nickel 11003
SHFE (Base Metals) (Yuan per tones)
Commodity Closing Price
Copper 48330
Aluminum 14000
Zinc 22910
Lead 18715
Closing as on 17.02.17 Closing as on 17.02.17
LME INVENTORY DATA
Aaj Ka Trend
13-Feb-17 14-Feb-17 15-Feb-17 16-Feb-17 17-Feb-17
Aluminium -5450 -5075 -8775 -3950 -5700
Copper -375 -4775 -7525 900 -7650
Lead -50 600 -25 -25 625
Nickel 1175 -1495 -936 -510 -606
Zinc 225 -2350 14425 -1800 -3075
20th Feb’17

5. Equities I Commodities I Currencies I Mutual Funds
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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
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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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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
20th Feb’17
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: 2017.02.18 12:10:08 +05'30'