Weekly commodity report 21 25 july by epic research pvt ltd indore

WEEKLY COMMODITY REPORT 21-JULY TO 25-JULY-2014

WEEKLY COMMODITY REPORT 21-JULY TO 25-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 support. and close above this level than it may test new level of 27400 .

Support is now tacking around this rang in the range of 27584 levels. Trading consistently below 27950 levels would lead towards the strong support at 27450 levels.

BUY GOLD (AUG) ABOVE 28600 TGTS 28850/29000 SL BELOW 28280 SELL GOLD (AUG) BELOW 27750 TGTS 27500/27300 SL ABOVE 28000

WEEKLY PIVOTAL S1

27584

S2

27176

CLOSE

27993

R1

28399

R2

28806

WEEKLY COMMODITY REPORT 21-JULY TO 25-JULY-2014

BULLIONS WEEKLY TECHNICAL LEVELS SILVER (JUL) MCX DAILY CHART

TRADING STRATEGY Major movement in SILVER MCX last week . Short term trend is Down, SILVER MCX CLOSED @44931. Silver Recover from bottom @ 44576, may go down till 44251 .for keep a close eye on US deta, Volalitity may Rule the overall market due to USD/INR MOVEMENTS BUY SILVER (SEP) ABOVE 45900 TGTS 46945/47400 SL 45300 SELL SILVER (SEP) BELOW 44300 TGTS 43500/42200 SL 45000

WEEKLY PIVOTAL S1

44251

S2

43571

CLOSE

44931

R1

45731

R2

46531

WEEKLY COMMODITY REPORT 21-JULY TO 25-JULY-2014

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

TRADING STRATEGY: Crude oil traded at a one-week uptrend 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 6270 TGT 6355/6500 SL BELOW 6066 SELL CRUDEOIL (JULY) BELOW 6150 TGT 5900/5840 SL ABOVE 6270

WEEKLY PIVOTAL S1

6030

S2

5851

CLOSE

6226

R1

6326

R2

6443

WEEKLY COMMODITY REPORT 21-JULY TO 25-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 433 TGT 440/455 SL BELOW 424 SELL COPPER (AUG) BELOW 424 TGT 415/405 SL ABOVE 431

WEEKLY PIVOTAL S1

421.6

S2

417.05

CLOSE

426.15

R1

433.85

R2

441.55

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