Weekly Commodity Market Report for 3 Apr-7 Apr 2017 by TradeIndia Research

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‣ Gold notched a quarterly gain of

about 8.4 percent on Friday, marking its

best quarter in a year, as uncertainty over

U.S. President Donald Trump's tax and

investment plans and elections in Europe

fuelled demand for bullion as a safe haven.

‣ Copper is not far from $6,000 per tonne,

which ought to be a respectable enough

price for mining companies to prosper, if

history is anything to go by, at least. But

the market failed to gather significant

steam despite disruptions to production at

Freeport-McMoRan’s Grasberg and Cerro

Verde operations over the past several

weeks.

‣ Indian state refiners will cut oil imports

from Iran in 2017/18 by a fifth, as New Delhi

takes a more assertive stance over an

impasse on a giant gas field that it wants

awarded to an Indian consortium, sources

familiar with the matter said.

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TECHNICAL ANALYSIS

GOLD

OUTLOOK :

GOLD(JUN)

SUPPORT:- 28620-28500

RESISTANCE:- 28766-28870

TREND:-

STRATEGY :-

BULLISH

BUY ON DIPS

TECHNICAL OUTLOOK

Technically trend in the Gold Jun contract looks bullish and is likely to continue with the trend

for near term. Support is seen at 28620 while resistance is seen at level 29020. Traders may buy

above 28850 with the stop loss of 28580 for the target of 29170.

In Comex, gold has strong resistance at $1261 . This week gold closed below $1248.Major

support now at $1226- $1210 and strong resistance at $1261-1274.

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SILVER

OUTLOOK :

SILVER(MAY)

SUPPORT:- 41840-41350

RESISTANCE:- 42630-42930

TREND:-

STRATEGY :-

BULLISH

BUY ON DIPS

TECHNICAL OUTLOOK

Technically trend in the Silver MAY. contract looks very bullish and is likely to continue with

the trend for near term. Support is seen at 41650 while resistance is seen at 42630 level.

Traders may buy above 42400 with the stop loss of 41690 for the target of 43400,MCX Silver

MAY Contract, showed upside movement this week and made a weekly high of 42440.

In Comex silver has a resistance of $18.50 and strong support at $17.80. In COMEX Silver

closed 18.19.

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COPPER

OUTLOOK :

COPPER(APR)

SUPPORT:- 370-361

RESISTANCE:- 390-398

TREND:-

STRATEGY :-

BEARISH

SELL ON RISE

TECHNICAL OUTLOOK

The trend in mcx Copper APR. contract looks bearish and further down side is expected for near

term. Support is seen at 370.00 while resistance is seen at 390.00 level. Traders may sell below

378 with the stop loss of 385.10 for the target of 370.

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CRUDE OIL

OUTLOOK :

CRUDEOIL(APR)

SUPPORT:- 3144-3004

RESISTANCE:- 3356-3428

TREND:-

STRATEGY :-

BULLISH

SELL ON RISE

TECHNICAL OUTLOOK

The trend in mcx Crude Oil MAR. Contract looks bullish and further upside is expected for near

term but we will see some profit booking on higher side. Support is seen at 3144 while

resistance is seen at 3356 level. Traders may sell around 3350. With the stop loss of 3420 for the

target of 3260.

In Nymex Crude Oil has a resistance of $52.10 and strong support at $48.50. In NYMEX Crude

Oil closed 50.62.

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INTERNATIONAL MARKET UPDATE

GOLD

1247.21

SILVER

18.19

COPPER

2.64

CRUDEOIL

50.62

USDINR

64.84

EURUSD

1.066

USDJPY

111.32

GBPUSD

1.252

TECHNICAL OUTLOOK

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ECONOMIC CALENDAR

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