The document provides a daily commodity report for April 20, 2016. It includes summaries of upcoming economic data releases from the UK, Canada, and US. It also discusses commodity news such as oil prices rising due to a Kuwaiti oil workers strike. Gold prices are higher due to safe haven demand. Copper futures fell on weak global trends. The report provides analysis and recommendations for crude oil, gold, and copper futures contracts.

1. MCXCOMMODITY REPORT
DATE- April 20, 2016
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RESEARCH
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2. WWW.SAIPROFICIENT.COM {DAILY COMMODITY REPORT (April 20, 2016)}
 The U.K. is to publish its monthly employment report.
 Canada is to release data on wholesale sales.
 The U.S. is to report on existing home sales.
 The EIA is to publish its weekly report on crude stockpiles.
COMMODITY NEWS
 Oil rises as Kuwaiti oil workers strike cuts output for third day: - Oil prices rose on
Tuesday as an oil workers strike in Kuwait nearly halved crude production from the
OPEC member, overshadowing bearish sentiment following Sunday's failure by oil
producers to agree to freeze output levels.
 Gold loses sparkle on muted demand, silver gets into shape Gold prices softened by Rs 50
to Rs 29,500 per 10 grams at the bullion market today due to slack demand even as the
precious metal firmed up overseas.
 Silver surges to 10-month high- Silver jumped 3 percent to its highest in more than 10
months on Tuesday on a softer dollar and robust buying in China, helping to lift gold by
1 percent. After quiet trading early in Asia, spot silver surged 3 percent to $16.73 an
ounce, its highest since June 2015. It pared some gains to trade up 2.5 percent at
$16.628 by 0740 GMT.
 Copper futures shed 0.27% as global trend weakens.
DAILY COMMODITY REPORT
MARKET OUTLOOK (WEDNESDAY, APRIL 20,2016)

3. WWW.SAIPROFICIENT.COM {DAILY COMMODITY REPORT (April 20, 2016)}
““U.S. futures point to higher open on oil rebound””
Energy overview: Oil prices moved back higher on Tuesday, as an oil worker strike
in Kuwait cut the country’s crude production nearly in half. Crude had tumbled the
previous day after a meeting of the world’s major oil producers in Doha, Qatar on Sunday
ended without an agreement on curbing production intended to prop up prices.
Date Commodity Expiry Open High Low Close
April 20, 2016 CRUDE OIL MAY 19,2016 2780 2796 2768 2780
Recommendation: BUY above 2830, TARGET- 2865/2885 with the S/L- 2805.
Resistance 2 Resistance 1 Pivot Point Support 1 Support 2
2868 2846 2805 2780 2743
MCX CRUDE OIL

4. WWW.SAIPROFICIENT.COM {DAILY COMMODITY REPORT (April 20, 2016)}
“Gold higher on increased safe haven demand”
Bullion Overview: Gold prices rose on Tuesday, buoyed up by increased investor
demand for safe haven assets as oil prices tumbled after a weekend meeting of major
producers ended without an agreement on curtailing production.
Recommendation: BUY above 29310levels with a stop loss placed below 289800 levels
for target of 29588 /29755 levels.
Date Commodity Expiry Open High Low Close
April 20, 2016 GOLD June 3, 2016 29050 29288 29050 29290
Resistance 2 Resistance 1 Pivot Point Support 1 Support 2
29750 29595 29280 28984 28750
MCX GOLD

5. WWW.SAIPROFICIENT.COM {DAILY COMMODITY REPORT (April 20, 2016)}
“Copper again tries to our position 319”
Market outlook: Copper futures fell 0.27% to Rs 316.30 per kg today as
speculators trimmed positions amid a weak trend in global markets. The metal
for delivery in far-month June was trading 85 paisa, or 0.26% down, at Rs
321.25, in a business volume of 16 lots.
Date Commodity Expiry Open High Low Close
April 20, 2016 COPPER April 29, 2016 317.70 320 315.05 317.75
Resistance 2 Resistance 1 Pivot Point Support 1 Support 2
324.25 322.45 319 316 314
Recommendation: BUY above, 319.25 levels with a stop loss placed below
315.25 levels for target 323.50/326 levels. (OR) SELL below 318, target-
315/313 with the stop loss- 321.
COPPER

6. WWW.SAIPROFICIENT.COM {DAILY COMMODITY REPORT (April 20, 2016)}
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