The document provides a technical analysis of gold, silver, and various base metals markets. It summarizes daily charts and technical indicators to identify key support and resistance levels. For gold and silver, it notes prices are near downtrend lines and momentum indicators suggest potential for higher prices. For copper, it finds prices have broken above resistance and may test higher levels. It also provides commentary on fundamental news affecting commodity prices and gives buy or neutral recommendations for various metals.

1. 05th
Dec’14 Aaj Ka Trend
Bullions
MCX Gold Feb Daily Chart
Technical View:
On daily timeframe prices are trading near the downtrend line which suggests break of the mentioned
trend line could head prices higher towards 27200 levels. Yesterday’s trading session prices remained in
narrow range and have formed Doji on daily timeframe. The momentum indicator, RSI is near 60 levels
above which prices would gain momentum. COMEX Gold prices have crucial support at 1190$ levels.
MCX Silver Mar Daily Chart
Technical View:
Silver prices are trading in a range where upper and lower band remains at 37500 – 36900 levels. On daily
timeframe, prices are trading in bullish flag formation which suggests break of 37900 would test 38600
levels. COMEX Silver can test 17.85$ levels as long as 16.00$ levels are protected on down side. On hourly
timeframe the momentum indicator, RSI is at 60 levels which would give positive confirmation for prices.

2. 05th
Dec’14 Aaj Ka Trend
Fundamental News:
• Gold steady as euro gains on ECB move, U.S. data cap gains.
• Gold futures held to steady to lower on Thursday after the European Central Bank held off on
introducing fresh stimulus measures, which sent the euro gaining and the dollar falling
• Gold and the dollar tend to trade inversely with one another, but an upbeat report on U.S. jobless
claims kept gold's gains in check, sending the precious metal into negative territory at times
• On the Comex division of the New York Mercantile Exchange, gold futures for February delivery
were down 0.09% at $1,207.60, up from a session low of $1,201.50 and off a high of $1,213.50
Pivot Levelsfor the Day:
S1 S2 S3 Pivot R1 R2 R3
Gold 26249 26148 25936 26360 26461 26572 26784
Silver 36173 35839 35263 36415 36749 36991 37567
Recommendation:
Gold
Buy
Silver
Buy

3. 05th
Dec’14 Aaj Ka Trend
Base Metals
MCX Copper Feb Hourly Chart
Technical Views:
It can be observed from the above chart that prices have broken it’s previous intermediate high of 404
levels while the momentum indicator, RSI has also gone above 60 levels which would add bullishness to
the prices. On hourly timeframe of COMEX Copper prices have given hourly close above 2.902$ levels
which happens to be the crucial resistance for COMEX Copper prices. For now we expect once prices
breaches 404.50 levels, it can easily test 407/410 levels while downside remains protected at 400 levels
on closing basis.
MCX Aluminum Dec Hourly Chart
MCX Lead Dec Hourly Chart
MCX Nickel Dec Daily Chart
MCX Zinc Dec Hourly Chart

4. 05th
Dec’14 Aaj Ka Trend
Fundamental News:
• Copper Rises on U.S., China Demand Outlook.
• Copper rose for the first time in three days on signs that demand will stay robust in the U.S. and
China, the world’s top metals consumers. Nickel reached a nine-week high.
• Fewer Americans filed for unemployment benefits last week, government data showed today. The
People’s Bank of China made a net injection of 30 billion yuan ($4.9 billion) this week, as the
central bank ramps up efforts to revive growth
Pivot Levels for the Day:
S1 S2 S3 Pivot R1 R2 R3
Copper 400.3 396.7 390.3 403.1 406.7 409.5 415.9
Aluminum 122.1 121.2 119.8 122.6 123.5 124.0 125.4
Lead 125.9 125.5 124.6 126.4 126.8 127.3 128.2
Nickel 1042.2 1025.4 998.9 1051.9 1068.7 1078.4 1104.9
Zinc 137.7 137.0 135.7 138.4 139.0 139.7 141.1
Recommendation:
Copper Buy
Aluminum Buy
Lead
Neutral
Nickel Buy
Zinc
Buy above 139

5. 05th
Dec’14 Aaj Ka Trend
Energy
MCX Crude Dec Hourly Chart:
Technical Views:
From the above chart it can be observed that prices have retraced 61.8% of the previous up move from
3980-4315 levels. The current down move from 4315 – 4110 look corrective in nature where prices have
attained a-b-c equality. For now, we expect prices could now head towards 4230/4270 levels as long as
4100 levels are protected on downside on hourly closing basis. On daily timeframe hammer before few
trading session would add bullishness to the prices.
MCX Natural Gas Dec Hourly Chart:
Technical Views:
Natural gas prices drifted lower following the natural gas inventory. The momentum indicator, RSI is also
below 40 levels which indicate lack of momentum in prices. For now 224 looks on card as long as 230
levels are capped on higher side. While breach of 224 could drift prices further lower towards 216 levels.

6. 05th
Dec’14 Aaj Ka Trend
Fundamental News:
• Crude futures fell on Thursday on news that Saudi Arabia trimmed the price of oil it exports to the
U.S. and Saudi Arabia.
• In the New York Mercantile Exchange, West Texas Intermediate crude oil futures for delivery in
January traded down 1.66% at $66.26 a barrel during U.S. trading, up from a session low of $66.13
a barrel and off a high of $68.20 a barrel.
• The January contract settled up 0.75% at $67.38 a barrel on Wednesday. Crude drops as Saudi
Arabia trims export prices.
• Copper Rises on U.S., China Demand Outlook.
• Copper rose for the first time in three days on signs that demand will stay robust in the U.S. and
China, the world’s top metals consumers. Nickel reached a nine-week high.
• Fewer Americans filed for unemployment benefits last week, government data showed today. The
People’s Bank of China made a net injection of 30 billion yuan ($4.9 billion) this week, as the
central bank ramps up efforts to revive growth.
Pivot Levels for the Day:
S1 S2 S3 Pivot R1 R2 R3
Crude 4080 4025 3891 4159 4214 4293 4427
Natural
Gas
223 219 209 230 233 240 250
Recommendation:
Crude
Buy
Natural Gas
Sell

7. 05th
Dec’14 Aaj Ka Trend
SumeetBagadia (Associate Director) sumeet.bagadia@choiceindia.com
Ritesh Patel (Research Associate) ritesh.patel@choiceindia.com
DeveyaGaglani (Research Advisor) deveya.gaglani@chocieindia.com
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8. 05th
Dec’14 Aaj Ka Trend
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