Weekly commodity report 14 18 july by epic research pvt ltd indore

WEEKLY COMMODITY REPORT 14-JULY TO 18-JULY-2014

WEEKLY COMMODITY REPORT 14-JULY TO 18-JULY-2014

BULLIONS WEEKLY TECHNICAL LEVELS GOLD(AUG) MCX DAILY CHART

TRADING STRATEGY: During this week prices rose sharply towards the contract high of 28589 levels and finally closed +799 higher at 27557 levels. As per the candlestick pattern prices has formed “ Bullish candlestick pattern” which is the sign of uptrend.

For the next week we expect gold prices to break the resistance 28660. and close above this level than it may test new level of 29000 .

Support is now observed in the range of 27950-27750 levels. Trading consistently below 27950 levels would lead towards the strong support at 27450 levels.

BUY GOLD (AUG) ABOVE 28526 TGTS 28850/29000 SL BELOW 28200 SELL GOLD (AUG) BELOW 28200 TGTS 27930/27804 SL ABOVE 28415

WEEKLY PIVOTAL S1

27628

S2

26900

CLOSE

28356

R1

28836

R2

29316

WEEKLY COMMODITY REPORT 14-JULY TO 18-JULY-2014

BULLIONS WEEKLY TECHNICAL LEVELS SILVER (JUL) MCX DAILY CHART

TRADING STRATEGY Major movement in SILVER MCX last week . Short term trend is up, SILVER MCX CLOSED @46023.

Silver Recover from bottom @ 44576, may go upside till 47100 .for keep a close eye on US deta, Volalitity may Rule the overall market due to USD/INR MOVEMENTS BUY SILVER (SEP) ABOVE 46370 TGTS 46945/47400 SL 45840 SELL SILVER (SEP) BELOW 45600 TGTS 44965/44400 SL 46100

WEEKLY PIVOTAL S1

44962

S2

43857

CLOSE

46068

R1

46786

R2

47505

WEEKLY COMMODITY REPORT 14-JULY TO 18-JULY-2014

ENERGY WEEKLY TECHNICAL LEVELS CRUDE OIL (JUL) MCX DAILY CHART

TRADING STRATEGY: Crude oil traded at a one-month low amid signs Libyan oil exports will rebound. West Texas Intermediate also fell to the lowest in a month before oil inventory data.

Crude futures dropped on Friday as investors continued to unwind positions that priced in conflictrelated supply disruptions in Libya and Iraq that never materialized.

BUY CRUDEOIL (JULY) ABOVE 6180 TGT 6260/6355 SL BELOW 6066 SELL CRUDEOIL (JULY) BELOW 6030 TGT 5900/5840 SL ABOVE 6131

WEEKLY PIVOTAL S1

5999

S2

5928

CLOSE

6070

R1

6197

R2

6324

WEEKLY COMMODITY REPORT 14-JULY TO 18-JULY-2014

BASE METALS WEEKLY TECHNICAL LEVELS COPPER (JUN) MCX DAILY CHART

TRADING STRATEGY: Copper futures swung between small gains and losses on Friday, after data showed that China’s exports rose less than expected in June.

BUY COPPER (AUG) ABOVE 438 TGT 445/455 SL BELOW 425 SELL COPPER (AUG) BELOW 425 TGT 415/405 SL ABOVE 438

WEEKLY PIVOTAL S1

431.98

S2

427.42

CLOSE

436.55

R1

439.63

R2

442.72

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