The weekly commodity report provides technical analysis and trading recommendations for gold, silver, crude oil, and copper futures contracts on the MCX exchange for the weeks of March 28th to 31st 2016 and June 22nd to 27th 2015. Key support and resistance levels are given for each commodity contract, along with analysis of recent price movements and trading strategies. Recommendations are made to sell below or buy above specific price levels for potential price targets and stop losses.
2. BULLIONS WEEKLY TECHNICAL LEVELS
GOLD(APRIL) MCX WEEKLY CHART
WEEKLY PIVOTAL
S1 28252
S2 27910
PP 28796
R1 29142
R2 29686
TRADING STRATEGY:
MCX Gold APRIL contract, not able to breach its previous week's high and traded in downside
territory ,made weekly low of 28450.In comex gold has closed below $1230 which was minor
support and major support at $1180. Below this on closing basis it can touch to $1160-$1133.
For the next week,Gold APRIL contract has support of 28500 levels. And strong support in range
of 28252 to 27910 levels.
Resistances are in the range of 28700 to 28890 levels. Above 28900 the next resistance is at
29100 levels & strong resistance at 29700 levels.
WEEKLY RECOMENDATIONS:-
SELL GOLD APRIL BELOW 28400 TG 28250 / 28150 SL ABOVE 28680
BUY GOLD APRIL ABOVE 28800 TG 29050 /29110 SL BELOW 28600
WEEKLY COMMODITY REPORT
22nd JUNE TO 27th JUNE 2015
3. BULLIONS WEEKLY TECHNICAL LEVELS
SILVER (MAY) MCX WEEKLY CHART
WEEKLY PIVOTAL
S1 36096
S2 35520
PP 37193
R1 37766
R2 38863
TRADING STRATEGY
MCX Silver MAY Contract, not able to breach its previous week's high and traded in negative
territory and closed around 36669 level. Overall trend of silver is in downtrend but the crucial
support level of silver at $15.20 and resistance level at $16.
For the coming week, we expect Silver MAY contract to go down 36200 to 36000 levels. Below
35800, strong support is at 35500 levels.
Resistances are expected at 36800 to 37050 levels. Above 37400 levels the next resistance is at
37740 & 38300 levels.
WEEKLY RECOMENDATIONS:-
SELL SILVER MAY BELOW 36500 TG 36200/ 36000 SL ABOVE 37000
BUY SILVER MAY ABOVE 37200 TG 37600/37900 SL BELOW 36800
4. TRADING STRATEGY:
MCX Crude Oil APRIL contract shown a downside movement this week under the influence of 90
lakh barrels inventory increase in U.S. reported by EIA. In NYMEX Crude Oil has resistance of $40
and strong support of $38.Oil rig count fell by 15 to 372 from 387 showed by baker hughes report.
Crude Oil APRIL contract having support at 2600 to 2570 levels below it at 2500 levels & strong
supports at 2460 & 2300 levels.
Resistances are at 2700-2810 levels & above it at 2835 to 2910 levels & strong resistance at 3000
& 3100 levels.
WEEKLY RECOMENDATIONS:-
SELL CRUDE OIL APRIL BELOW 2580 TG 2530/ 2500 SL ABOVE 2630
BUY CRUDE OIL MARCH ABOVE 2650 TG 2710/ 2740 SL BELOW 2600
WEEKLY COMMODITY REPORT
05-09-JAN-2015
ENERGY WEEKLY TECHNICAL LEVELS
CRUDE OIL (APRIL) MCX WEEKLY CHART
WEEKLY PIVOTAL
S1 2563
S2 2468
PP 2684
R1 2779
R2 2900
5. COPPER (APRIL) MCX WEEKLY CHART
BASE METALS WEEKLY TECHNICAL LEVELS
WEEKLY PIVOTAL
S1 327.05
S2 322
PP 333.6
R1 338.6
R2 345.15
TRADING STRATEGY:
MCX COPPER APRIL contract shown downside movement this week due to weak data of
existing home sales and new home sales in U.S. which drag the copper prices towards
downward. There is a minor support level around 328 and resistance around 338 levels. Overall
Copper long term trend is on downside due to china economic slowdown which will drag base
metals prices towards downward in future.
For the next week, Copper APRIL contract supports are at 325-320 levels. Below it, at 313.50
levels & strong support at 300 & 280 levels.
Resistance are at 338-342 level. Above it at 350 levels & Strong resistance is at 360-362 levels.
WEEKLY RECOMENDATIONS:-
SELL COPPER FEB BELOW 328 TG 322/ 320 SL ABOVE 333
BUY COPPER FEB ABOVE 335 TG 341/350 SL BELOW 328
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