WEEKLY COMMODITY REPORT 14-APR TO 18-APR-2014
WEEKLY COMMODITY REPORT 14-APR TO 18-APR-2014
BULLIONS WEEKLY TECHNICAL LEVELS GOLD(JUN) MCX 4 HOURLY CHART
TRADING STRATEGY: MCX Gold closed at 28756 on Friday. As we can see from chart price has recovered after taking support at 27860 level. Strong buying sentiments in domestic and COMEX market supporting the gold price. We expect price may go more upside.
1. BUY GOLD(JUN) MCX ABOVE 28960 TGT 29080/29230 SL BELOW 28750 2. SELL GOLD (JUN) MCX BELOW 28500 TGT 28380/28230 SL ABOVE 28700
WEEKLY PIVOTAL S1
28440
S2
28124
CLOSE
28756
R1
28958
R2
29160
WEEKLY COMMODITY REPORT 14-APR TO 18-APR-2014 MCX Gold closed at 28756 on Friday. As we can see from chart price has recovered after taking support at 27770 level. Strong buying sentiments in domestic and COMEX market supporting the gold price. We expect price may go more upside.
BULLIONS WEEKLY TECHNICAL LEVELS SILVER (MAY) MCX 4 HOURLY CHART
TRADING STRATEGY: MCX Silver closed at 43177 on Friday. As we can see from chart price has shown some strength and crossed 43500, but failed to sustain this level, as compared to gold, silver is under pressure and we expect price can make a dip to 42500 before going above 44500 level.
1. BUY SILVER MCX (MAY) ABOVE 43500 TGT 43850/44350 SL 43100 2. SELL SILVER MCX (MAY) BELOW 42700 TGT 42350/41850 SL 43100
WEEKLY PIVOTAL S1
42372
S2
41567
CLOSE
43177
R1
43911
R2
44645
WEEKLY COMMODITY REPORT 14-APR TO 18-APR-2014
ENERGY WEEKLY TECHNICAL LEVELS CRUDE OIL (APR) MCX 4 HOURLY CHART
TRADING STRATEGY: A firm recovery momentum seen in MCX Crude oil last week, and closed at 6292. Oil imports in March were valued at $15.78 billion, which was 17.7 percent higher than oil imports valued at $13.40 billion in the corresponding period last year. International crude price is still above $100 and taking strong support in that level. 1. BUY CRUDE OIL MCX ABOVE 6350 TGT 6430/6550 SL 6220 2. SELL CRUDE OIL MCX BELOW 6140 TGT 6060/5960 SL 6270
WEEKLY PIVOTAL S1
6118
S2
5943
CLOSE
6292
R1
6389
R2
6485
WEEKLY COMMODITY REPORT 14-APR TO 18-APR-2014
ENERGY WEEKLY TECHNICAL LEVELS NATURAL GAS (APR) MCX 4 HOURLY CHART
TRADING STRATEGY: MCX Natural Gas closed at 280.7 on Friday. Price has recovered from bottom, but still in pressure. 295 giving strong resistance to the price. Weekly NG inventory stands at 4B compared -74B. We expect price can go down in coming weeks. 1. BUY NATURAL GAS MCX ABOVE 295 TGT 303/315 SL 285 2. SELL NATURAL GAS MCX BELOW 270 TGT 262/250 SL 280
WEEKLY PIVOTAL S1
271.17
S2
261.63
CLOSE
280.7
R1
287.17
R2
293.63
WEEKLY COMMODITY REPORT 14-APR TO 18-APR-2014
BASE METALS WEEKLY TECHNICAL LEVELS COPPER (APR) MCX 4 HOURLY CHART
TRADING STRATEGY: A strong buying trend seen in Copper on Friday made high of 411.70, but failed to sustain this level and closed at 407. We expect price has recovered after taking support at 400 level, and it can go higher up to 425. 1. BUY COPPER MCX ABOVE 412 TGT 417/427 SL 402 2. SELL COPPER MCX BELOW 400 TGT 395/385 SL 410
WEEKLY PIVOTAL S1
400.27
S2
393.53
CLOSE
407
R1
412.72
R2
418.43
WEEKLY COMMODITY REPORT 14-APR TO 18-APR-2014
BASE METALS WEEKLY TECHNICAL LEVELS LEAD (APR) MCX 4 HOURLY CHART
TRADING STRATEGY: After long time Lead price has show some moves last week, although price fall sharply from 129 level and closed at 125.75 on Friday. We expect price is in now bullish trend and it can go more upside up to 132 level soon. 1. BUY LEAD(APR) MCX ABOVE 129 TGT 130.5/132.5 SL 127 2. SELL LEAD(APR) MCX BELOW 124 TGT 122.5/120.5 SL 126
WEEKLY PIVOTAL S1
122.9
S2
120.05
CLOSE
125.75
R1
128.7
R2
131.65
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