Weekly commodity report 01 to 05 sep 2014 by epic research pvt ltd indore

WEEKLY COMMODITY REPORT 01-05 SEP-2014

WEEKLY COMMODITY REPORT 01-05 SEP-2014

BULLIONS WEEKLY TECHNICAL LEVELS GOLD(OCT) MCX DAILY CHART

TRADING STRATEGY:

During this week prices rose sharply upwards the contract gold futures for Oct delivery traded at resistance for Spot gold is at $1314 and bias remains weak as long as held below the same. .

For the next week we expect gold prices to break the Resistance and close above this level than it Oct test new level of 28400 .Support is now tacking around this rang in the range of $1271 levels. Trading consistently below 27800 levels would lead towards the strong support at 27800 levels.

BUY GOLD (OCT) ABOVE 28000 TGTS 28200/28391 SL BELOW 27850 SELL GOLD (OCT) BELOW 27800 TGTS 27510/27340 SL ABOVE 27946

WEEKLY PIVOTAL S1

27748

S2

27500

CLOSE

27996

R1

28211

R2

28426

WEEKLY COMMODITY REPORT 01-05 SEP-2014

BULLIONS WEEKLY TECHNICAL LEVELS SILVER (SEP) MCX DAILY CHART

TRADING STRATEGY

No major movement in silver mcx last week. short term is up ,mcx silver high @ 42930 silver weekly support are now placed at $ 19.28 ,22.05 will act as strong resistances weekly sideways to positive move could be seen BUY SILVER (SEP) ABOVE 42300TGTS 43000/43600 SL 41700 SELL SILVER (SEP) BELOW 41700 TGTS 41200/40700 SL 42400

WEEKLY PIVOTAL S1

41727

S2

41199

CLOSE

42255

R1

42856

R2

43457

WEEKLY COMMODITY REPORT 01-05 SEP-2014

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

TRADING STRATEGY:

Some upside could be in Crude oil on back of short covering, but short term bias remains weak as long as 5950 is held on upside. Weekly support is at 5656 and sustained break below could target 5750. Selling on rise is advisable, but our view could negate if it breaches above 5750.

BUY CRUDEOIL (SEP) ABOVE 5850 TGT 5970/6090 SL BELOW 5750 SELL CRUDEOIL (SEP) BELOW 5650 TGT 5515/5400 SL ABOVE 5780

WEEKLY PIVOTAL S1

5718

S2

5606

CLOSE

5831

R1

5890

R2

5950

WEEKLY COMMODITY REPORT 01-05 SEP-2014

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

TRADING STRATEGY:

MCX COPPER traded with positive bias in the previous session, but failed to breach above recommended resistance of Rs.432-435 and closed at Rs.429. Supports are placed at Rs.422-420 whereas resistance is pegged at Rs.432. Sustainable breach above resistance will confirm positive move and could target Rs.442-444. Buying near supports is advisable.

BUY COPPER (NOV) ABOVE 433 TGT 436/444 SL BELOW 427 SELL COPPER (NOV) BELOW 425 TGT 420/414 SL ABOVE 431

WEEKLY PIVOTAL S1

419.62

S2

410.23

CLOSE

429

R1

434.92

R2

440.83

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