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31,500

15 January, 2019

Bottom-Line: Trend for Gold is at crucial juncture and silver price can move sideways to positive, trend for MCX Copper is positive and MCX Crude prices can move in range.

MCX Gold Continuous Daily chart: GOLD-1M - Daily 14-01-2019 Open 31989, Hi 32220, Lo 31975, Close 32141 (0.7%) EMA(Close,50) = 31,407.19

c e

(i) c

(b)

33,000

32,500 32,141

32,000

31,407.2

(d)

(f) a

b

a 31,000

30,500

b d 30,000

(ii)

29,500

29,000

(e)

(g) 2

28,500

28,000

27,500

(c) wave 3 is corrective as it is part of Ending Diagonal

27,000

26,500 9

GOLD-1M - RSI(14) = 62.99

70 62.9894

30

2017 Apr Jul Oct 2018 Apr Jul Oct 2019

Jul Apr 2018 Oct Jul Apr 201 Oct 2017

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M_GOLD-FEB (32,130.00, 32,180.00, 32,110.00, 32,180.00, +28.00)

(c)

(a)

(b)

a

Relative Strength Index (62.5206)

50

17 24 31 7 14 2019

MCX Gold Feb 60 min chart:

32300

32250

32200

(a) 32150

32100

32050

32000

31950

(b) 31900

31

31

31

31

31

31

31

31

31

(x) 31

31

31

31

31

31

31

31

31

30

30

Wave analysis:

As shown on daily chart, wave f of Diametric pattern is forming Flat correction pattern. An important resistance is placed near 32200 and break above this level on closing basis will provide first indication of change in trend.

As shown on hourly chart, prices are moving within the upward slopping blue channel. Wave (b) has completed on downside and currently wave (c) is ongoing on upside. It's 50- period EMA is providing support on downside near levels.

In short, MCX Gold trend is at crucial juncture. One should keep a close watch on 32200 followed by 32300 on upside and 31800 on downside. Break of these levels will drive trend in that direction.




MCX Silver continuous daily chart: SILVER-1M - Daily 14-01-2019 Open 39305, Hi 39588, Lo 39279, Close 39552 (0.5%) EMA(Close,20) = 38,781.75

45,000

(x)

(b)

44,000

43,000

(x) (f) 42,000

(a)

(c)

(d)

(f)

(e)

(g)

(a)

(b)

(c)

(d)

(e)

(x) 100.0%

76.4% (g)

61.8%

a

b

d 39022.99

c 38224.17

f

e

41,000

40,000 39,552

39,000 38,781.8

38,000

37,000

36,000

0.0% g (a)

35,000

34,000

SILVER-1M - RSI(14) = 65.01 70

65.0069

30

Apr Jul Oct 2018 Apr Jul Oct 2019




M_SILVER-MAR (39,580.00, 39,688.00, 39,575.00, 39,681.00, +93.00)61.8% 50.0% 38.2% 23.6%

40000

c e

39500

0.0% f

d 39000

c a b 38500

38000

a 37500

b x b

37000

36500

c g (a)

36000

Relative Strength Index (64.9970) 80

75 70 65 60 55 50 45 40 35 30 25 20

Silver Mar 60 mins chart:

23 3 10 17 24 31 7 14 2018 December 2019

Wave analysis:

Silver in the previous session showed a strong buying and had subdued movement for the first half of the session and witnessed buying towards the end of the session closing near day’s high.

As shown on the daily chart, prices are about to give a break of the range. A decisive break above 39760 will resume the upmove. The best technique is to stay with the ongoing trend so long as we not see a close below the prior bars low the trend remains positive,

As shown on the hourly chart, prices are moving in the form of Diametric pattern and wave f is completed on the downside and are moving in the form of wave g. If prices manage to sustain above 39700 for the first half of the session a move towards 39900 can be expected which is 61.8% projection of wave a.

In short trend for Silver is sideways to positive and a move towards 39900 can be expected as long as 39500 act as support on the downside.




3,500

a

MCX Crude daily chart: CRUDEOIL-1M - Daily 14-01-2019 Open 3606, Hi 3670, Lo 3576, Close 3628 (-0.1%) EMA(Close,20) =

X (g)

c

6,000

0.0% 5,500

(c)

(e) a b x bd

b 5,000

(b)

50.0%

61.8%

76.4% (c)

(e)

(f)

(g) (a)

(x)

(b)

(d)

a

c c e (f)

4,500

4,000

3,628 3,491.17

(a)

(a)

(1c0) 0.0% (e)

Y

(b)

(d) Diametric Pattern

3,000

2,500

Apr Jul Oct 2018 Apr Jul Oct 2019 CRUDEOIL-1M - RSI(14) = 55.02

70

55.0219

30

Apr Jul Oct 2018 Apr Jul Oct 2019




MCX Crude Jan 60 min chart:

Wave analysis:

MCX Crude in its previous session opened on a negative note but later managed to gain momentum on upside and closed on a positive note. Prices are making Doji candle on daily basis from past 2 trading sessions which shows indecisiveness among traders at higher levels. Now break above 3720 will continue its upward rally to higher levels.

As shown on hourly chart, wave a is completed on downside near 2995 levels and wave b is currently ongoing. Internal counts within wave b suggests, minute degree wave x is ongoing post completing wave c on upside. Prices are moving in a range between 3720 and 3500 levels from past 3 trading sessions. One should wait for break of this range on either side to get clear picture of trade.

In short, trend for Crude is range bound. One should keep a close watch on above mentioned pivot levels i.e. 3720 on upside and 3500 levels on downside to execute trade in respective direction.

M_CRUDEOIL-JxAN (3,624.00, 3,632.00, 3,620.00, 3,632.00, -3.00) 3950

3900

100.0% 3850

f 3800 c

3750

3700

3650

3600

3550 61.8%

g 3500

50.0% a 3450

b 3400

c 3350 38.2%

a 3300

x 3250

23.6% 3200

3150 b

3100

3050

0.0% 3000 a

2950

90

80

70

60

50

40

30

20

14 December 2019 2018

7 31 24 17 10 3 23





420

MCX Copper Daily chart: COPPER-1M - Daily 14-01-2019 Open 414, Hi 415.1, Lo 411.6, Close 414.2 (-0.4%) EMA(Close,25) = 510

iii g

500

490

e a i ovf

c c c

a b

a x x

b

480

470

460

450

440 b

c x

d f yiv

a c w

430

418.644 414.2

410

400

390

Oct 2018 Apr Jul Oct 2019 COPPER-1M - RSI(14) = 45.38

70

45.3754

30 Oct 2018 Apr Jul Oct 2019


411.6



MCX Copper Feb 60 mins chart:

M_COPPER-FEB (415.70, 417.65, 415.70, 417.40, +3.10)

d f 450

445

440

435

c 430

e b

d 425

420

g 415

a e? 41

405

400

c 395

70 60 50 40 30 20

23 3 10 17 24 31 7 14 2018 December 2019

Waves Analysis:

In the previous session Copper showed subdued move as it traded sideways throughout the session & closed the day with a DOJI candle indicating indecisiveness among the market participants.

As shown in the hourly chart, prices are showing lack of momentum and are failing to indicate a clear downtrend which shows that some upmove still looks to be pending. Also prices broke above the channel resistance of the downward sloping channel which indicate that wave e of the Diametric pattern might have completed on the downside near 411-412 levels and we might see wave f ongoing on the upside..

In short, copper looks positive, we can expect a move towards 421 levels. Maintain strict stop-loss of 412 levels as break of the same may induce selling pressure.


x




Disclaimer:

The information in this document has been printed on the basis of publicly available information, internal data and other reliable sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this document is for general guidance only. We have made our best efforts to try and ensure accuracy of data however, Green India Commodities or any of its affiliates /an employee shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Investors should not solely rely on the information contained in this document and must make investment decisions based on their own investment objectives, risk appetite, investment horizon, financial strength or other parameter. Green India Commodities has not independently verified all the information contained within this document. Accordingly, we cannot testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document. The report is purely for information purposes and does not construe to be investment recommendation/advice or an offer or solicitation of an offer to buy/sell any securities. The opinions expressed are our current opinions as of the date appearing in the material and may be subject to change from time to time without notice. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to local law, regulation or which would subject Green India Commodities and affiliates to any registration or licensing requirement within such jurisdiction. Persons in whose possession this document may come are required to inform themselves of and to observe such restriction.




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