SAI PROFICIENT RESEARCH MCX COMMODITY REPORT DATE- April 11, 2016
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DAILY COMMODITY REPORT
MCX Crude Oil “Oil prices edge higher on improving demand outlook� Energy overview: oil prices edged up early on Friday, lifted by firm economic indicators from the United States and Germany which could support fuel demand. Analysts warned that oil prices could fall again soon as there were few signs that a global overhang in production of at least 1 million barrels per day would be addressed soon. Crude soars 6% to two-week highs, amid renewed hopes for output freeze.
Date
Commodity
April 11, 2016
CRUDE OIL
Expiry April 19,2016
Open
High
Low
Close
2489
2656
2489
2626
Resistance 2
Resistance 1
Pivot Point
Support 1
Support 2
2678
2655
2620
2587
2562
Recommendation: The above is hourly chart of Crude Oil. BUY above 2596 levels with a stop loss placed below 2644/2678 levels for targets of 2550 levels. (Or) SELL around 2590 ranges target 2538/2505 with stop loss 2610.
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{DAILY COMMODITY REPORT (April 11, 2016)}
MCX GOLD “Gold futures fall 0.27% on profit-booking” Bullion Overview: Gold inches up on Friday, extending gains from the previous session’s surge, amid further indications of slowing economic conditions after the Federal Reserve Bank of Atlanta said U.S. GDP hardly grew during the first quarter.
Date
Commodity
Expiry
Open
High
Low
April 11, 2016
GOLD
June 3, 2016
29145
29152
28851
Resistance 2
Resistance 1
29556
29304
Pivot Point
290046
Close
29115
Support 1
Support 2
28884
28705
Recommendation: The above is hourly chart of Gold. BUY above 29250 levels with a stop loss placed below 29110 levels for target of 29410 levels. (Or) SELL below 28790 targets 28670/28560 with s/l- 28900.
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{DAILY COMMODITY REPORT (April 11, 2016)}
COPPER “Copper consolidate on Friday in between 306 to 309”
Date
Commodity
April 11, 2016
COPPER
Expiry
Open
High
Low
Close
April 29, 2016
308.10
309
306.10
308.25
Resistance 2
Resistance 1
Pivot Point
Support 1
Support 2
311.01
309
307.78
305.99
303
Recommendation: The above is hourly chart of Copper. BUY above 308.75 levels with a stop loss placed below 305 levels for target 311/313 levels.
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{DAILY COMMODITY REPORT (April 11, 2016)}
DISCLAIMER The information contained here was gathered from sources deemed reliable however; no claim is made as to accuracy or content. This does not contain specific recommendations to buy or sell at particular prices or time, nor should any examples presented be deemed as such. There is a risk of loss in equity trading and you should carefully consider your financial position before making a trade. This is not, nor is it intended, to be a complete study of chart patterns or technical analysis and should not be deemed as such. SAI PROFICIENT INVESTMENT ADVISORS does not guarantee that such information is accurate or complete and it should not be relied upon as such. Any opinions expressed reflect judgments at this date and are subject to change without notice. For use at the sole discretion of the investor without any liability on Sai Proficient Investment Advisors.
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{DAILY COMMODITY REPORT (April 11, 2016)}