The document provides a technical analysis of various commodities including gold, silver, copper, and crude oil. For gold and silver, it predicts that prices will move higher in the coming trading sessions as prices have been taking support and momentum indicators suggest a potential bounce back. For copper, it predicts prices will move lower as prices have shown a breakdown of patterns and momentum is weakening. For crude oil, it predicts prices will move higher as prices have broken out of patterns and momentum indicators are positive.

1. Equities I Commodities I Currencies I Mutual Funds
Aaj Ka Trend
Technical View:
On daily chart, MCX Gold prices has been taking support of its
trend line at 26820 levels. Furthermore, COMEX Gold prices
are trading above its horizontal line support at $1120 levels on
daily time frame. Moreover, Momentum Indicator RSI is
trading in oversold zone at 25 levels daily time frame which
indicates the possibilities of bounce back in the prices. For
now we expect prices should move higher towards 27520
levels in the coming trading sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
Bullions
MCX Gold Feb Daily Chart CMP: 27260
MCX Gold (Feb) Trend: Bullish
Price potential: 27520 Reversal: 27000
MCX Silver Mar Daily Chart CMP: 39433
Technical View:
On daily chart, MCX Silver prices have been trading in falling
wedge pattern and taking support of its lower band of wedge
pattern at 39180 levels. Furthermore, COMEX Silver prices
have been taking support of its horizontal trend line at $16
levels on hourly chart. In addition, momentum indicator RSI
has been trading at 39 levels on daily chart, which indicates
bounce back in the prices. For now we expect prices to move
higher towards 40700 levels in few trading sessions.
MCX Silver (Mar) Trend: Bullish
Price potential: 40700 Reversal: 38900
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Gold 27700 27727 27628 27826 28150 28350 28450
Silver 39280 39140 38804 39476 39616 39812 40148
20th Dec’16

2. Equities I Commodities I Currencies I Mutual Funds
Technical View:
MCX Copper price has shown breakdown of its ascending
triangle pattern at 383 levels on daily chart. Moreover,
COMEX Copper price has witnessed breakdown of its
ascending triangle pattern $2.62 levels on daily chart. In
addition MCX Copper prices are trading below its 21 DEMA.
Furthermore, momentum indicator MACD has shown
negative crossover on daily time frame, which suggest
further weakness in the momentum can be seen. For now
we expect prices to move lower towards 368 levels in
coming trading sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
MCX Copper Feb Hourly Chart CMP: 375.65
MCX Copper (Feb) Trend: Bearish
Price potential: 368 Reversal: 381
MCX Crude Oil Jan. Daily Chart CMP: 3611
Technical View:
MCX Crude Oil price has shown breakout of its ascending
triangle pattern 3530 levels on daily chart. MCX Crude Oil
price has been taking support of its horizontal trend line at
3356 levels on hourly chart. MCX Crude Oil is trading above
its 50 DEMA on daily chart. Moreover, Momentum indicator
RSI is trading above 60 levels on daily chart which suggest
the positive movement in the prices. For now we expect
prices to move higher towards 3700 levels in coming trading
sessions.
MCX Crude Oil (Jan) Trend: Bullish
Price potential: 3700 Reversal: 3550
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Copper 371.6 366.6 355.8 377.4 382.4 388.2 399.0
Crude 3578 3553 3501 3605 3630 3657 3709
Base Metal
Energy
Aaj Ka Trend
20th Dec’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 371.6 366.6 355.8 377.4 382.4 388.2 399.0
Aluminum 116.1 115.6 114.7 116.6 117.1 117.5 118.5
Lead 142.1 138.8 130.5 147.0 150.4 155.3 163.5
Nickel 722.1 705.8 670.8 740.8 757.1 775.8 810.8
Zinc 172.4 168.2 158.2 178.2 182.4 188.2 198.2
Natural Gas 226.9 224.0 218.0 230.0 232.9 236.0 242.0
Fundamental News:
 Gold prices edged up during European hours on Monday, extending its recovery from ten-month lows as the
U.S. dollar pulled back from recent highs.
 The dollar index, which measures the greenback’s strength against a trade-weighted basket of six major
currencies, was down 0.3% at 102.60 in early trade, slipping from last week's 14-year high of 103.55, as a bout
of profit taking kicked in ahead of the year-end holidays.
 Dollar weakness usually benefits gold, as it boosts the metal's appeal as an alternative asset and makes dollar-
priced commodities cheaper for holders of other currencies.
 Gold futures lost $24.10, or 2.1%, last week, the sixth straight weekly decline, after the Federal Reserve hiked
interest rates for the first time in a year and projected three more increases in 2017, up from the two projected
in September.
 The precious metal is sensitive to moves in U.S. rates, which lift the opportunity cost of holding non-yielding
assets such as bullion, while boosting the dollar in which it is priced.
 Oil edged higher Monday on favorable expectations of compliance with agreed producer cuts.
 There are signs oil firms are already moving to implement the reductions.
If the cuts are fully adhered to, the International Energy Agency sees a supply deficit in the first half of next
year.
 Baker Hughes weekly U.S. rig count data Friday showed an increase of 12 to 510, the highest level since the start
of the year.
Aaj Ka Trend
20th Dec’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 1138.46
Silver 16.03
Crude Oil 51.96
Brent Crude Oil 54.84
Natural Gas 3.394
COMEX/NYMEX/ICE ( Precious Metals & Energy) Currency & Commodity Index
Currency (Spot) Current Price
USD / INR 67.8750
Dollar Index 103.08
EUR / USD 1.0409
CRB Index* 191.22
Closing as on 19.12.16 *Closing as on 19.12.16
LME (Base Metals) ( $ per tones)
Commodity Closing Price
Copper 5496
Aluminum 1712
Zinc 2607
Lead 2170
Nickel 10880
SHFE (Base Metals) (Yuan per tones)
Commodity Closing Price
Copper 44930
Aluminum 12665
Zinc 21045
Lead 18390
Closing as on 19.12.16 Closing as on 19.12.16
LME INVENTORY DATA
Aaj Ka Trend
13-Dec-16 14-Dec-16 15-Dec-16 16-Dec-16 19-Dec-16
Aluminium -22151 -22201 -2751 -28074 -5224
Copper 126624 19949 17174 11776 38399
Lead 0 -51 -101 -49 -549
Nickel -73 1141 1669 -121 115
Zinc -1249 -902 41 -1826 -1301
20th Dec’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
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
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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 Dec’16
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: 2016.12.20 09:14:55 +05'30'