Commodities Weekly Outlook 16 12 13 to 20 12 13

8/13/2019 Commodities Weekly Outlook 16 12 13 to 20 12 13

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Commodities Weekly Technical Report16.12.2013 to 20.12.2013

www.angelcommodities.com

ContentWeekly Technical Levels

Strategy/Recommendations

ngel Commodities Broking Pvt. Ltd.

egistered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093.

orporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 2921 2000

MCX Member ID: 12685 / FMC Regn No: MCX / TCM / CORP / 0037 NCDEX : Member ID 00220 / FMC Regn No: NCDEX / TCM / CORP / 0302

isclaimer:The information and opinions contained in the document have been compiled from sources believed to be reliable. The company does not warrant its accuracy, completeness and

orrectness. The document is not, and should not be construed as an offer to sell or solicitation to buy any commodities. This document may not be reproduced, distributed or published, in

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Prepared by

Samson PasamSr. Technical Analyst

[email protected](040) 39828632
mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]


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MCX GOLD FEBRUARY (CMP29,432 / $ 1236)

MCX Gold February as seen in the weekly chart above has opened the week at 28,921 levels initially moved margina

ower, but has found support at 28,842 levels. Later prices rallied sharply towards 29,639 levels, but could not sustain t

ains corrected back towards 29,150 levels, and finally closed higher from the previous weeks closing levels.

or the next week we expect gold prices to find support in the range of 29,300 29,250 levels. Trading consistently belo

9,200 levels would lead towards the strong support at 28,960 levels and then finally towards the major support at 28,5

evels.

Resistance is now observed in the range of 29,740-29,780 levels. Trading consistently above 29,800 levels would lea

owards the strong resistance at 30,100 levels, and then finally towards the Major resistance at 30,450 levels.

MCX / Spot Gold Trading levels for the week

Trend: Sideways

1-29,272/ $ 1223 R1-29,760 / $ 1261

2-28,960 / $ 1192 R2-30,100/ $ 1288

Weekly Recommendation: Buy MCX Gold February between 29,280-29,250, SL-28,960, Target -29,750.


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MCX SILVER MARCH (CMP44,776 / $ 19.67)

MCX Silver March as seen in the weekly chart above has opened the week at 43,951 levels initially moved lower and

xpected found very strong support just below the expected level at 43,737 levels. Later prices rallied sharply breaking bo

he resistance levels towards 45,845 levels, but could not sustain the gains fell back lower towards 44,051 levels, and fina

losed higher from the previous weeks closing levels.

or the next week we expect silver prices to find support in the range of 43,850 43,700 levels. Trading consistently belo

43,500 levels would renew the previous week fall initially towards 42,700 levels and then finally towards the major suppo

t 41,850 levels.

Resistance is now observed in the range of 45,800-45,850 levels. Trading consistently above 45,900 levels would lea

owards the strong resistance at 46,900 levels, and then finally towards the Major resistance at 48,000 levels.

MCX / Spot Silver Trading levels for the week

Trend: Sideways

1-43,730 / $ 19.12 R1-45,835 / $ 20.32

2-42,680 / $ 18.60 R2-46,900 / $21.00

Weekly Recommendation: Buy MCX Silver March between 44,460 - 44,400, SL-43,500, Target -45,800.


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MCX COPPER FEBRUARY (CMP461.75 / $7245)

MCX Copper February as seen in the weekly chart above has opened at 445.70 levels initially moved marginally lower, b

as found good support at 443.70 levels. Later prices rallied sharply breaking both the resistance levels towards 462.4

evels, and finally closed sharply higher from the previous weeks closing levels.

or the next week we expect Copper prices to find support in the range of 456 455 levels. Trading consistently below 4

evels would lead towards the strong support at 449 levels and then finally towards the major support at 437 levels.

Resistance is now observed in the range of 468-469 levels. Trading consistently above 470 levels would lead towards thtrong resistance at 474.60 levels, and then finally towards the Major resistance at 481.50 levels.

MCX / LME Copper Trading levels for the week

Trend: UP

1456.00/ $7200 R1468.20/ $7310

2449.50/ $7130 R2474.60/ $7380

Weekly Recommendation: Buy MCX Copper February between 456-455, SL-449, Target -468.


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MCX CRUDE DECEMBER (CMP6034 / $ 96.56)

MCX Crude December as seen in the weekly chart above has opened the week at 5983 levels initially moved lower, but h

ound very good support at 5933 levels. Later prices rallied sharply towards 6108 levels and finally closed higher from t

previous week closing levels.

or the next week we expect Crude prices to find support in the range of 5950 5940 levels. Trading consistently belo

930 levels would lead towards the strong support at 5850 levels and then finally towards the major support at 5785 level

Resistance is now observed in the range of 6110-6120 levels. Trading consistently above 6130 levels would lead towards t

trong resistance at 6200 levels, and then finally towards the Major resistance at 6280 levels.

MCX / NYMEX Crude Oil Trading levels for the week

Trend: Sideways

1- 5942/ $ 95.65 R1-6120 / $ 98.10

2-5850/ $ 94.70 R2-6200 / $ 99.70

Weekly Recommendation: Buy MCX Crude December between 5960-5940, SL-5840, Target -6110.


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MCX NATURAL GAS DECEMBER (CMP 272.50 / $ 4.384)

MCX Natural Gas December as seen in the weekly chart above has opened the week gap up at 254.50 levels initially made

ow of 254.30 levels and then rallied sharply breaking both the resistances towards 276.70 levels and finally closed sharp

igher from the previous week closing levels.

or the next week we expect Natural Gas prices to find support in the range of 268 266 levels. Trading consistently belo

65 levels would lead towards the strong support at 259 levels and then finally towards the major support at 245 levels.

Resistance is now observed in the range of 281-282 levels. Trading consistently above 283 levels would lead towards th

trong resistance at 290 levels, and then finally towards the Major resistance at 304 levels.

MCX / NYMEX Natural Gas Trading levels for the week

Trend: Up

1- 267.80/ $ 4.305 R1-281.30 / $ 4.488

2-259.00 / $ 4.175 R2-290.20 / $ 4.622

Weekly Recommendation: Buy MCX Natural Gas December between 268-266, SL-258, Target -281.

Documents

Commodities Weekly Outlook 16 12 13 to 20 12 13