The document provides a technical analysis of commodity markets. It summarizes that gold and silver prices are expected to move lower due to descending triangle patterns on hourly charts. MCX gold is predicted to reach 29300 levels and MCX silver 39000 levels. MCX copper is also forecasted to fall to 300 due to trading below the 100 HEMA and weakness in momentum indicators. MCX crude oil is assessed as bearish due to completing a bearish pattern at 3330 and momentum indicators, with a predicted drop to 3190. Fundamental news is also provided on movements in gold, crude oil, and other commodities.

1. Equities I Commodities I Currencies I Mutual Funds
Aaj Ka Trend
Technical View:
MCX Gold prices are trading in a Descending triangle
formation on hourly chart. Moreover, on COMEX Gold price
have given breakdown of its descending triangle formation at
$1261 levels on hourly chart. The momentum indicator, RSI
has drift below 50 levels on hourly chart, which gives negative
momentum to the prices. For now we expect prices should
move lower towards 29300 levels in the coming trading
sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
Bullions
MCX Gold June Hourly Chart CMP: 29690
MCX Gold (June) Trend: Bearish
Price potential: 29300 Reversal:29900
MCX Silver July Hourly Chart CMP: 39810
Technical View:
MCX Silver prices are trading in a Descending triangle
formation on hourly chart. Prices have been trading below its
50 HEMA on hourly chart. On the other hand, COMEX Silver
price have witnessed Three Black Crow bearish candlestick
pattern on weekly chart which gives negative confirmation to
the prices. Moreover, momentum indicator RSI is trading
below 50 levels on hourly chart. For now we expect prices to
move lower towards 39000 levels in few trading sessions.
MCX Silver (July) Trend: Bearish
Price potential: 39000 Reversal: 40230
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Gold 29658 29579 29394 29764 29843 29949 30134
Silver 39642 39430 38964 39896 40108 40362 40828
23rd May’16

2. Equities I Commodities I Currencies I Mutual Funds
Technical View:
MCX Copper Prices are trading in a consolidation formation
since last 1 week. However, MCX Copper prices is trading
below its 100 HEMA on hourly chart which indicates short
term trend remains weak. On the other hand, momentum
indicator RSI is trading below 50 levels on hourly chart.
Furthermore, momentum indictor MACD has shown
negative crossover on hourly chart. For now we expect
prices to move lower towards 300 levels in coming trading
sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
MCX Copper June hourly Chart CMP: 308.45
MCX Copper (June) Trend: Bearish
Price potential: 300 Reversal: 314
MCX Crude Oil June. Hourly Chart CMP: 3276
Technical View:
On daily chart, the MCX Crude Oil price has completed a
“Bearish AB=CD Harmonic Pattern” at 3330 levels. Moreover
prices are trading near its channel trend line resistance. On
the other hand counter is trading below its 21 HEMA on
NYMEX Crude 4 hour chart. Furthermore momentum
indicator RSI is Trading in overbought territory which selling
pressure ahead. For now we expect prices to move lower
towards 3190 levels in coming trading sessions.
MCX Crude Oil (June) Trend: Bearish
Price potential: 3190 Reversal: 3330
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Copper 308.1 306.4 302.0 310.9 312.6 315.3 319.8
Crude 3234 3200 3117 3283 3317 3366 3449
Base Metal
Energy
Aaj Ka Trend
23rd May’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 308.1 306.4 302.0 310.9 312.6 315.3 319.8
Aluminum 104.2 103.2 101.3 105.1 106.1 107.0 108.9
Lead 113.1 112.6 111.2 114.0 114.5 115.4 116.8
Nickel 570.2 566.7 556.6 576.8 580.3 586.9 597.0
Zinc 125.1 124.3 122.4 126.1 127.0 128.0 129.8
Natural Gas 136.7 134.5 130.6 138.4 140.6 142.3 146.2
Fundamental News:
 Gold rebounded in Asia on Friday, edging up from a sharp overnight drop on growing expectations the Federal
Reserve will raise interest rates as early as June.
 Gold prices held steady on Friday, hovering close to a three-week trough as the perspective of a June rate hike
in the U.S. and a stronger U.S. dollar continued to weigh on the precious metal.
 A stronger U.S. dollar usually weighs on gold, as it dampens the metal's appeal as an alternative asset and
makes dollar-priced commodities more expensive for holders of other currencies.
 Crude rose further in Asia on Friday on a rebound from overnight losses with U.S. rig count data later in the day
expected to set the tone.
 Oil prices rose on Friday as turmoil in Nigeria, shale bankruptcies in the United States and a crisis in Venezuela
all contributed to tightening supplies.
 U.S. oil futures were hovering at seven-month highs on Friday, as supply disruptions in Nigeria and Libya lent
support to the commodity, although the strong U.S. dollar limited gains.
 Oil futures bounced back on Friday but were off earlier highs as ongoing supply concerns helped offset the
impact of a possible Fed rate hike in June and ample inventories.
 Fear that the U.S. Federal Reserve may raise rates by next month prompted investors to cash out of long
positions in Brent and U.S. crude's West Texas Intermediate (WTI) futures that rallied earlier in the week on oil
supply outages.
Aaj Ka Trend
23rd May’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 1251.98
Silver 16.53
Crude Oil 48.41
Brent Crude Oil 48.72
Natural Gas 2.06
COMEX/NYMEX/ICE ( Precious Metals & Energy) Currency & Commodity Index
Currency (Spot) Current Price
USD / INR 67.44
Dollar Index 95.34
EUR / USD 1.1224
CRB Index* 184.20
Closing as on 20.05.16 *Closing as on 20.05.16
LME (Base Metals) ( $ per tones)
Commodity Closing Price
Copper 4578
Aluminum 1547
Zinc 1866
Lead 1675
Nickel 8500
SHFE (Base Metals) (Yuan per tones)
Commodity Closing Price
Copper 35150
Aluminum 12380
Zinc 14865
Lead 12765
Closing as on 20.05.16 Closing as on 20.05.16
LME INVENTORY DATA
Aaj Ka Trend
16-May-16 17-May-16 18-May-16 19-May-16 20-May-16
Aluminium -6625 -2050 -4600 -5000 -5575
Copper -2350 -2275 100 1750 -2875
Lead -250 -175 4800 -200 -150
Nickel -5880 -606 -1680 1482 1104
Zinc -325 -575 -1000 -1125 -600
23rd May’16

5. Equities I Commodities I Currencies I Mutual Funds
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Aaj Ka Trend
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Date: 2016.05.23 08:53:24 +05'30'