MCX INDIA COMMODITY NEWS. (3) (PDF)

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27/11/2015
DAILY MCX NEWSLETTER
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BULLION:

BASE METAL:
LME copper is predicted to move between USD
4,620-4,670/mt during Asian trading hours Friday.
Markets will focus on China’s profit result at
above-scale industrial enterprises for October on
Friday and decline in the profit is expected to
narrow further. Eyes should be also paid to
November’s climate index from euro zone and the
index should improve over October. This will
support the euro temporarily. But US dollar will
remain at highs, which nonetheless, will not
greatly influence the movement of base metals
prices.

Gold hovered close to its lowest level in nearly six years on Friday, on track for a
sixth straight weekly decline, weakened by the strength in the dollar and
expectations of a U.S. interest rate hike next month. Precious metals funds
posted their biggest net outflow last week in around four months, while
investors kept up the rapid pace of inflows into money market funds, Bank of
America Merrill Lynch said on Thursday. India's gold buying in the key
December quarter is likely to fall to the lowest level in eight years, hurt by poor
investment demand and back-to-back droughts that have slashed earnings for
the country's millions of farmers.

ENERGY:

Crude oil futures fell on Friday with losses this month standing at over 8 percent, hurt by disappointing Chinese economic data and
worries over a supply glut. Profits earned by Chinese industrial companies fell 4.6 percent in October from a year earlier, data from
the country's statistics bureau showed on Friday, declining for the fifth consecutive month. The market is shifting its focus to a
meeting of ministers from the Organization of the Petroleum Exporting Countries, which is set for Vienna on Dec. 4.

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BULLION & ENERGY
CS GOLD (DECEMBER) OVERVIEW:
TREND : BULLISH
RESIST 2: 25590
RESIST 1: 25460
SUP 1: 25130
SUP 2: 25075
STRATEGY: BUY ON DIPS

CS SILVER (DECEMBER) OVERVIEW:
TREND : BULLISH
RESIST 2: 34450
RESIST 1: 34170
SUP1: 33870
SUP2: 33450
STRATEGY : BUY ON DIPS

CS CRUDE OIL (DECEMBER) OVERVIEW:
TREND : BULLISH
RESIST 2:2950
RESIST 1:2900
SUP1:2840
SUP2:2795
STRATEGY: BUY ON DIPS

CS NATURAL GAS (DECEMBER) OVERVIEW:
TREND :BEARISH
RESIST 2:158
RESIST 1:156
SUP1: 148
SUP2:145
STRATEGY: SELL ON RISE

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BASE METAL

CS COPPER (NOVEMBER) OVERVIEW:
TREND :BULLISH
RESIST 2:314
RESIST 1:310
SUP1:300
SUP2:297
STRATEGY: BUY ON DIPS

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COMMODITY PICK OF THE DAY: CRUDE OIL

MCX CRUDE OIL Dec., Monday as seen in the daily chart opened at 2870 levels and day high
of 2894 levels. During this period price corrected & made day low of 2840 levels finally
closed at 2851 levels. Now, there are chances of further upward movement technically &
fundamentally.


The market is shifting its focus to a meeting of ministers from the Organization of the Petroleum Exporting Countries, which
is set for Vienna on Dec. 4.

DAILY RECOMMENDATION: BUY MCX CRUDE OIL DEC., ABOVE 2870 LEVELS FOR TARGET OF
T1 2970/T2 3000 WITH SL OF 2770 LEVELS.

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