The document provides a technical analysis of gold, silver, copper, and crude oil commodity futures prices on Indian commodity exchanges. It finds that gold, silver, and copper prices are expected to decline further based on breakdown of technical patterns and momentum indicators on hourly and daily charts. Crude oil prices may rise toward 3700 levels supported by a rising wedge pattern and momentum indicators on hourly charts. Pivot price points are provided for day trading opportunities. Broader commodity price movements and inventory data are also summarized.

1. Equities I Commodities I Currencies I Mutual Funds
Aaj Ka Trend
Technical View:
On Hourly chart, MCX Gold price has given breakdown of its
rising channel pattern at 27040 levels. Furthermore, COMEX
Gold prices have been trading below its falling trend line at
$1140 levels on hourly chart. Moreover, Momentum Indicator
MACD is trading below its signal line on hourly time frame
which indicates the possibilities of further downside in the
prices. For now we expect prices should move lower towards
26650 levels in the coming trading sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
Bullions
MCX Gold Feb Hourly Chart CMP: 27002
MCX Gold (Feb) Trend: Bearish
Price potential: 26650 Reversal: 27220
MCX Silver Mar Daily Chart CMP: 38558
Technical View:
On 4 hourly chart, MCX Silver price has given breakdown of its
falling wedge pattern at 39080 levels. On the other hand,
prices are trading below 50 HEMA. Furthermore, COMEX Silver
price has given breakdown of its horizontal trend line at $16
levels on hourly chart. In addition, momentum indicator MACD
has given negative crossover on 4 hourly chart, which
indicates lack of strength in the prices. For now we expect
prices to move lower towards 37800 levels in few trading
sessions.
MCX Silver (Mar) Trend: Bearish
Price potential: 37800 Reversal: 39000
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Gold 27700 26850 26790 26982 28150 28350 28450
Silver 38371 38147 37750 38768 38992 39389 40407
26th Dec’16

2. Equities I Commodities I Currencies I Mutual Funds
Technical View:
MCX Copper price has shown breakdown of its descending
triangle pattern at 383 levels on daily chart. Moreover,
COMEX Copper prices are trading in falling channel pattern.
In addition MCX Copper prices are trading below its 21
HEMA. 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 364
levels in coming trading sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
MCX Copper Feb hourly Chart CMP: 372.95
MCX Copper (Feb) Trend: Bearish
Price potential: 364 Reversal: 377.50
MCX Crude Oil Jan. Hourly Chart CMP: 3595
Technical View:
MCX Crude Oil prices has been trading in rising wedge
pattern and taking support of its lower band of wedge
pattern at 3550 levels on hourly chart. MCX Crude Oil is
trading above its 100 HEMA on hourly chart. On the other
hand, NYMEX WTI Crude oil price has taken support of its
rising trend line at $52.40 levels. Moreover, Momentum
indicator RSI is trading above 50 levels on hourly 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: 3535
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Copper 371.1 369.2 366.0 374.3 376.2 379.4 387.8
Crude 3564 3532 3509 3587 3619 3642 3720
Base Metal
Energy
Aaj Ka Trend
26th 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 371.1 369.2 366.0 374.3 376.2 379.4 387.8
Aluminum 117.4 117.0 116.8 117.6 118.0 118.2 119.1
Lead 136.5 134.4 130.4 140.5 142.7 146.7 156.8
Nickel 696.6 687.2 672.1 711.7 721.1 736.2 775.8
Zinc 172.3 170.8 168.2 174.9 176.4 179.0 185.7
Natural Gas 241.3 235.0 229.8 246.5 252.8 258.0 274.6
Fundamental News:
 The dollar held steady against the other majors currencies on Friday, after the release of positive U.S. data
supported optimism over the strength of the U.S. economy.
 The U.S. Census Bureau said new home sales rose 5.2% to 592.000 units in November, beating expectations for
a 2.1% increase to 575.000.
 In addition, the University of Michigan said its consumer sentiment index hit 98.2 this month, up from a
previous estimate of 98.0. Analysts had expected the index to remain unchanged in December.
 The greenback has also remained broadly supported since the Federal Reserve concluded its policy meeting last
week by raising interest rates by 25 basis points and projected three more rate hikes for 2017.
 Earlier Friday, the U.K. Office for National Statistics said gross domestic product grew at a rate of 0.6% in the
third quarter, up from a previous estimate of 0.5% and above expectations for a growth rate of 0.5%
 U.S. natural gas futures rose to a two-week high on Thursday morning, after data showed that natural gas
supplies in storage in the U.S. fell much more than the five-year average for this time of year last week.
 The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. declined
by 209 billion cubic feet in the week ended December 16, exceeding market expectations for a drop of 201
billion cubic feet.
 Total natural gas in storage currently stands at 3.597 trillion cubic feet, according to the U.S. Energy Information
Administration, 5.9% lower than levels at this time a year ago and 2.1% above the five-year average for this time
of year.
Aaj Ka Trend
26th 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 1134
Silver 15.77
Crude Oil 53.23
Brent Crude Oil 55.08
Natural Gas 3.67
COMEX/NYMEX/ICE ( Precious Metals & Energy) Currency & Commodity Index
Currency (Spot) Current Price
USD / INR 67.84
Dollar Index 102.95
EUR / USD 1.04
CRB Index* 190.52
Closing as on 23.12.16 *Closing as on 23.12.16
LME (Base Metals) ( $ per tones)
Commodity Closing Price
Copper 5469
Aluminum 1719
Zinc 2577
Lead 2073
Nickel 10410
SHFE (Base Metals) (Yuan per tones)
Commodity Closing Price
Copper 44710
Aluminum 12665
Zinc 20880
Lead 18160
Closing as on 23.12.16 Closing as on 23.12.16
LME INVENTORY DATA
Aaj Ka Trend
19-Dec-16 20-Dec-16 21-Dec-16 22-Dec-16 23-Dec-16
Aluminium -5224 -2826 25101 5025 10450
Copper 38399 -1451 -4400 -3825 -1275
Lead -549 215 25 11700 50
Nickel 115 -2300 95 95 -144
Zinc -1301 -574 -25 -175 -200
26th Dec’16

5. Equities I Commodities I Currencies I Mutual Funds
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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
26th Dec’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: 2016.12.24 14:38:20 +05'30'