Choice International Ltd
Published on 18/01/2018 1:13:44 PM

Silver

MCX Silver has opened on flat note and fell down from high on Wednesday. On the daily chart, Silver price pulled back after a long bullish rally, which indicate price has exhausted and may move further down. On the other hand, Price has failed to sustained above 50% retracement level on weekly chart; which suggest bearish movement. Moreover, momentum indicator RSI (14) shown negative crossover. Based on the above technical set up and indicators, we expect a bearish move in MCX Silver price.

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Choice International Ltd
Published on 18/01/2018 1:13:30 PM

Gold

MCX Gold has opened on flat note and traded sideways after given a small correction in first half. On the weekly chart, MCX Gold has found the resistance of falling trendline; which act as resistance level for the prices. On the other hand, COMEX Gold price has retreated from high and falling down from last two days. Moreover, momentum indicator RSI (14) gas moved from overbought zone. Based on the above technical aspects, we expect bearish movement in MCX Gold prices.

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IIFL Wealth Management Ltd
Published on 18/01/2018 1:09:54 PM

Oil

Oil futures scaled lower, however, speculative length on the CME still remains supportive for the complex. CFTC reported that money managers have raised bullish positions in WTI And brent Crude Futures And Options To A record.

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IIFL Wealth Management Ltd
Published on 18/01/2018 1:08:19 PM

Gold 

Gold Prices retreated from four month highs,as US dollar Rebonded From The Lows. Meanwhile Markets Are Hopeful Of Trump Administration Extending the debt Ceiling deadline this Week, manifested the resiline in US equities.

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Angel Broking Pvt Ltd
Published on 18/01/2018 1:07:11 PM

Base Metals

Outlook

LME Copper prices are currently trading higher by 0.1 percent at $7068.5/t. Copper prices will trade sideways as global investors keenly await Chinese GDP data due today.

MCX Copper prices will likely trade sideways today.

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Angel Broking Pvt Ltd
Published on 18/01/2018 1:06:54 PM

Crude Oil

Outlook

We expect oil prices to trade higher today as drawdown in API oil stocks has increased expectations of fall in US EIA crude oil inventories. Also, healthy demand still supports oil markets and OPEC’s commitment for capping oil output is also creating a stir for oil markets.

On the MCX, oil prices are expected to trade higher today, international markets are trading higher by 0.4% at $64.2 a barrel.

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Angel Broking Pvt Ltd
Published on 18/01/2018 1:06:27 PM

Gold, Silver

Outlook

We expect gold prices to trade sideways today, international markets are trading lower by 0.1% at $1326.4 per ounce. Profit booking after a recent rally and stronger dollar are possible factors exerting downside pressure on gold.

On the MCX, gold prices are expected to trade sideways today.

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Angel Broking Pvt Ltd
Published on 18/01/2018 1:05:09 PM

Spices (Jeera & Turmeric)

Outlook

We expect Jeera Mar futures may trade sideways to lower today of expectation of selling pressure. Moreover, encouraging sowing progress in Gujarat keeping prices also keep prices under pressure. The demand is also waning for crop due to higher prices. Fresh exports demand may keep the prices supported.

Turmeric Apr futures expected to trade sideways due to steady physical demand and expectation of new season arrivals. However, expectation of improvement in up country demands for new season crop may support prices in coming weeks.

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Angel Broking Pvt Ltd
Published on 18/01/2018 1:04:43 PM

Cotton / Kapas

Outlook

Cotton futures are expected trade sideways on expectation of technical correction at higher levels. Moreover, bearish USDA will also pressurize prices in current week. However, lower than expected production in the country may keep prices supported at higher levels.

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