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09/10/2015

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DAILY MCX NEWSLETTER

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BULLION:

Gold ticked higher on Friday, recovering modestly from overnight losses, but

uncertainty over whether the Federal Reserve would hike U.S. rates this year

weighed on the market. The Fed thought the economy was close to warranting

an interest rate hike in September but policymakers wanted firmer evidence a

global economic slowdown was not knocking America off course. Most

policymakers, according to the minutes, thought the Fed's first rate hike in a

decade should still come this year and that financial market turmoil had not

"materially altered" the outlook for the U.S. economy.

BASE METAL: The International Copper Study Group (ICSG)

has revised the copper forecast for 2016. It now

anticipates the metal market to turn into deficit

during the next ye3ar. According to the latest

report released Tuesday, the world copper body

stated that copper will end in a supply deficit of

130,000 mt during 2016. ICSG in its earlier

forecast during April this year had stated that

copper market is likely to see supply surplus of

230,000 mt in 2016. However, in the wake of

ongoing production cutbacks and mine

disruptions at various mines across the world,

the supply is expected to fall to a deficit of

nearly 130,000 mt during next year.

ENERGY:

Crude oil futures rose in early Asian trade on thin volumes after an influential forecaster predicted that a market rally was not far off

and U.S. Federal Reserve minutes suggested there was no hurry to raise rates. U.S. crude is heading for a gain of nearly 9 percent

this week, the biggest weekly increase since August. Gains in Chinese equities on Thursday, opening after a weeklong National Day

holiday, added to the bullish tone, while Russia's military involvement in Syria has brought a geopolitical risk premium into the

market.

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CS GOLD (DECEMBER) OVERVIEW:

TREND : BEARISH RESIST 2: 26800 RESIST 1: 26600

SUP 1: 26230 SUP 2: 26025

STRATEGY: SELL ON RISE

CS SILVER (DECEMBER) OVERVIEW:

TREND : BEARISH RESIST 2:37370 RESIST 1:37125

SUP1:36360 SUP2:36000

STRATEGY : SELL ON RISE

CS CRUDE OIL (OCTOBER) OVERVIEW:

TREND : BULLISH

RESIST 2:3420 RESIST 1:3330

SUP1:3180 SUP2:3120

STRATEGY: BUY ON DIPS

CS NATURAL GAS (OCTOBER) OVERVIEW:

TREND :BEARISH RESIST 2:167 RESIST 1:164

SUP1: 160 SUP2:158

STRATEGY: SELL ON RISE

BULLION & ENERGY

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CS COPPER (NOVEMBER) OVERVIEW:

TREND :BEARISH

RESIST 2:350 RESIST 1:347

SUP1:337 SUP2:334

STRATEGY: SELL ON RISE

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BASE METAL

MCX CRUDE OIL OCT., Thursday as seen in the daily chart opened at 3150 levels and day high

of 3233 levels. During this period price corrected & made day low of 3122 levels finally closed

at 3217 levels. Now, there are chances of further upward movement technically &

fundamentally.

Gains in Chinese equities on Thursday, opening after a weeklong National Day holiday, added to the bullish tone, while

Russia's military involvement in Syria has brought a geopolitical risk premium into the market.

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COMMODITY PICK OF THE DAY: CRUDE OIL

DAILY RECOMMENDATION: BUY MCX CRUDE OIL OCT., ABOVE 3230 LEVELS FOR

TARGET OF T1 3330/T2 3380 WITH SL OF 3110 LEVELS.

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