Daily Market Reflection

2nd June 2017

-
Market Outlook COMDEX
Gold prices pulled away from the previous sessions five-week
highs on Thursday, as the dollar regained some ground ahead of
a string of U.S. data due later in the day and on Friday amid
mounting hopes for a June rate hike by the Federal Reserve. Oil
prices rose on Thursday, rallying from three-week lows after
industry data showed a big draw in U.S. crude stocks, suggesting
that the world's largest oil market could be tightening faster than
expected. Wednesdays initial weaker tone on the LME did run
into some buying for copper, aluminium and lead while nickel and Market Updates
zinc were weaker. MCX Date Date % Chg
31-05-17 1-06-17
Fundamental News GOLD 28843 28943 +0.52%
A stronger U.S. dollar usually weighs on gold, as it weakens the SILVER 40096 39813 -0.71%
metal's appeal as an alternative asset and makes dollar-priced COPPER 368.75 368.75 -
commodities more expensive for holders of other currencies. CRUDE 3127 3159 +1.02%
ALUMINIUM 123.30 124.15 +0.12%
The Organization of the Petroleum Exporting Countries and other LEAD 133.35 135.35 +0.88%
producers including Russia are trying to restrict output to drain NICKEL 569.60 570.20 +0.67%
stockpiles that are close to record highs in many parts of the ZINC 165.95 165.10 -0.49%
NATURALGAS 198.60 194.30 -2.17%
world. But U.S. crude production is rising fast as new technology
helps to extract shale oil, making the United States more self- COMEX Date Date % Chg
sufficient in energy. 31-05-17 1-06-17
GOLD 1272.00 1266.40 -0.44%
SILVER 17.406 17.268 -0.79%
Important Data CRUDE 48.32 48.88 +1.16%
COPPER 2.580 2.586 +0.23%
Time Currency Event Foreca Previous $ INDEX 96.91 97.17 +0.27%
st USDINR 64.7300 64.6800 -0.08%

2:00pm GBP Construction PMI 52.7 53.1

6:00pm CAD Trade Balance 0.0B -0.1B OUR PREVIOUS CALLS UPDATE
Intraday super star
6:00pm CAD Labor Productivity q/q 0.2% 0.4% Date Commodity Entry Exit P/L
31/0 NG. 203 199 +5000
Average Hourly 5
6:00pm USD 0.2% 0.3%
Earnings m/m Multibagger
Date Commodity Entry Exit P/L
Non-Farm 29/0 COPPER - - -
6:00pm USD 186K 211K
Employment Change 5
Trifid special
6:00pm USD Unemployment Rate 4.4% 4.4% Date Commodity Entry Exit P/L
26/0 NICKEL 579 569 +2500
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 Gold and Silver

GOLD COMEX GOLD

Gold showed bearish movement and found the important

support level of 28870. Now if it will close below the
PIVOT S1 S2 R1 R2
S important support level of 28600 then 28400 will act as
MCX 28600 28400 28100 29300 next support level. On the other hand 29100 will act as a
COME 1260 1250 1275 1285 major resistance level.

SILVER COMEX SILVER

Silver showed bearish movement and found the

PIVOTS S1 S2 R1 R2 important support level of 39333. Now if it will close
below the important support level of 39000 then 38500
MCX 39000 38500 40500 41000
will act as next support level. On the other hand 40500
COMEX 17.00 16.80 17.40 17.60
will act as a major resistance level.

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 Crude and Copper

CRUDE COMEX CRUDE

Crude showed bullish movement and found the

PIVOTS S1 S2 R1 R2 important resistance level of 3175. Now if it will close
above the important resistance level of 3200 then 3250
MCX 3100 3050 3200 3270
will act as next resistance level. On the other hand 3100
COMEX 47.50 46.00 50.00 51.50
will act as a major support level.

COPPER COMEX COPPER

Copper showed sideway to bullish movement and found

the important resistance level of 369.90. Now if it will
PIVOTS S1 S2 R1 R2
close above the important resistance level of 374 then
MCX 365 358 372 380 380 will act as next resistance level. On the other hand
COMEX 2.5300 2.5200 2.5900 2.6000 358 will act as a major support level.

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 Other Commodities

PIVOT

COMMODITIE S1 S2 R1 R2 VOLUME OI TREND

S

ALUMINIUM 123 120 126 128 6060 1990 Bearish

LEAD 134 132 138 140 12005 2170 Bearish

NICKEL 560 550 585 600 35869 48022 Bearish

ZINC 163 161 167 169 21270 4260 Bearish

NATURAL GAS 192 190 197 200 63512 7548 Bearish

LME INVENTORY
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Due to Summer
COMMODITIES Bank Holiday NO LME
25/05/2017 DATA TODAY
26/05/2017 30/05/2017 31/05/2017 1/06/2017

ALUMINIUM -9475 +25900 -8750 -13775 -6550

COPPER -4100 -2925 -3450 -4050 -3150

LEAD -100 -500 +275 -1925 -975

NICKEL -954 -1470 -1812 -1308 +5982

ZINC -1525 -1650 -1425 -1575 -1300

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 Agri Commodity Updates

GUARSEED
Guarseed showed bearish movement and found the
important support level of 3325. If prices sustains
below 3325 level in next trading session then this
momentum can take prices to 3300 level. If it breaks
the resistance level of 3375 then 3425 will act as
next resistance level.

PIVOTS S1 S2 R1 R2

3325 3300 3375 3425

JEERA
Jeera showed sideways movement today and found
the resistance level of 17800. If prices sustain below
17600 levels in next trading session then this
momentum can take prices to 17300 levels. If it
breaks the resistance level of 17800 then 18000 will
act as next resistance level.

PIVOTS S1 S2 R1 R2

17600 17300 17800 18000

SOYABEAN
Soyabean showed sideways movement and found
the important resistance level of 2740. If prices
sustain below 2700 level in next trading session
then this bearish momentum can take prices to
2660 level. If it breaks the resistance level of 2750
then 2800 will act as next resistance level.

PIVOTS S1 S2 R1 R2

2700 2660 2750 2800

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 Intraday Super Star
(Premium Section)

CALL: SELL NATURAL GAS BELOW 193 TARGETS 190/187 SL 197.

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 Multibagger Call
(Premium Section)

CALL: SELL COPPER BELOW 365 TARGETS 361/357 SL 370.

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 Trifid Special
(Premium Section)

CALL: SELL ZINC BELOW 165 TARGETS 164/163 SL 166.50.

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