WEEKLY COMMODITY REPORT 17-MAR TO 21-MAR-2014
WEEKLY COMMODITY REPORT 17-MAR TO 21-MAR-2014
BULLIONS WEEKLY TECHNICAL LEVELS GOLD(APR) MCX 4 HOURLY CHART
TRADING STRATEGY: A firm recovery seen in MCX Gold last week, made high of 30737 and closed at 30595. Indian Govt has put on hold the import rats decision, which is supporting to the gold price. Not only domestic market, but COMEX Gold is also on recovery mode, closed at $1382, approx + $45 from previous week closing. For coming weeks we expect gold will trade in positive not.
1. Buy GOLD MCX Above 30850 TGT 30970/31120 SL 30650 2. Sell GOLD MCX Below 30250 TGT 30130/29980 SL 30450
WEEKLY PIVOTAL S1
30122
S2
29648
CLOSE
30595
R1
30903
R2
31210
WEEKLY COMMODITY REPORT 17-MAR TO 21-MAR-2014
BULLIONS WEEKLY TECHNICAL LEVELS SILVER (MAY) MCX 4 HOURLY CHART
TRADING STRATEGY: Last week a volatile trading session seen in MCX Silver. MA 50 and 100 giving positive crossover and RSI is also giving bullish signal. We expect price may trade in positive note for coming weeks.
1. Buy SILVER MCX (MAY) Above 47500 TGT 47850/48350 SL 47000 2. Sell SILVER MCX (MAY) Below 46400 TGT 46050/45550 SL 46900
WEEKLY PIVOTAL S1
45778
S2
44473
CLOSE
47084
R1
48133
R2
49183
WEEKLY COMMODITY REPORT 17-MAR TO 21-MAR-2014
ENERGY WEEKLY TECHNICAL LEVELS CRUDE OIL (MAR) MCX 4 HOURLY CHART
TRADING STRATEGY: Crude hit the floor after tension release between Ukarine and Russia last week. We are still bearish in MCX crude oil for coming week. After a sharp fall price may recover some 50-100 points, but a firm recovery seen only above 6120. 1. Buy CRUDE OIL MCX Above 6120 TGT 6200/6350 SL 6000 2. Sell CRUDE OIL MCX Below 5920 TGT 5840/5740 SL 6050
WEEKLY PIVOTAL S1
5901
S2
5750
CLOSE
6051
R1
6266
R2
6480
WEEKLY COMMODITY REPORT 17-MAR TO 21-MAR-2014
ENERGY WEEKLY TECHNICAL LEVELS NATURAL GAS (MAR) MCX 4 HOURLY CHART
TRADING STRATEGY: No major movement seen in MCX natural gas last week, although price hac broken its support of 275 level and closed below it. We expect price mey correct to 260-250 levels, before going for a recovery . 1. Buy NATURAL GAS MCX Above 295 TGT 305/320 SL 280 2. Sell NATURAL GAS MCX Below 260 TGT 250/235 SL 375
WEEKLY PIVOTAL S1
262.6
S2
253
CLOSE
272.3
R1
286
R2
299.6
WEEKLY COMMODITY REPORT 17-MAR TO 21-MAR-2014
BASE METALS WEEKLY TECHNICAL LEVELS COPPER (APR) MCX 4 HOURLY CHART
TRADING STRATEGY: The red metal continued its bearish trend and broken 400 psychological level, but failed to close below it. Now we expect price may recover if sustain 400 support level. on the other hand if price break 400 level and manage to close below it. We see price in 390-385 level soon.
1. Buy COPPER MCX Above 410 TGT 415/425 SL 402 2. Sell COPPER MCX Below 399 TGT 394/384 SL 407
WEEKLY PIVOTAL S1
393.45
S2
383.4
CLOSE
403.5
R1
417.5
R2
431.5
WEEKLY COMMODITY REPORT 17-MAR TO 21-MAR-2014
BASE METALS WEEKLY TECHNICAL LEVELS LEAD (MAR) MCX 4 HOURLY CHART
TRADING STRATEGY: Entire Base metal is in under pressure after negative chines data. We expect lead is recovering after taken support at 122.5 level, 128 level is giving immediate resistance to the price. 1. Buy LEAD MCX Above 126 TGT 127.5/130 SL 123.5 2. Sell LEAD MCX Below 122.5 TGT 121/118.5 SL 125
WEEKLY PIVOTAL S1
122.4
S2
119.7
CLOSE
125
R1
127.85
R2
130.65
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