BULLIONS WEEKLY TECHNICAL LEVELS GOLD(AUGUST) MCX WEEKLY CHART TRADING STRATEGY: MCX Gold JUNE contract during this week as expected stuck at the resistance zone of 27270 levels & made new weekly low of 26712 level. Gold June contract will going to expire on 05 th June & Gold Aug contract will be traded So, Gold Aug contract, now expected to trade in mixed to negative territory due to various important international market data & events. For the next week we expect Gold June contract prices to find support in range of 26500 levels. Below 26500 levels, the next support is at 26100 & strong support at 25750 levels. Resistances are in the range of 27400 to 27500 levels. Above 27750 the next resistance is at 28100 levels & strong resistance are at 28500 levels. S1 26897 S2 26670 PP 27169 R1 27396 R2 27668 SELL GOLD (AUG) BELOW 26950 TG 26450 / 26050 SL ABOVE 27450 BUY GOLD (AUG) ABOVE 27120 TG 27570 / 27850 SL BELOW 26680
BULLIONS WEEKLY TECHNICAL LEVELS SILVER (JULY) MCX WEEKLY CHART TRADING STRATEGY MCX Silver July Contract, as seen in the weekly chart got stuck at the resistance of 40600 levels. Also, Silver is getting impact of both Gold & Copper which are now mixed to bearish on weekly charts & So, Silver July contract is now expected to remain range-bound to bearish supported by fundamental reasons too. For the coming week, we expect Silver July contract to find support near 37600 to 37500 levels. Below 37100, strong support is at 36680 & 36100 levels & below it at 35800 levels. Resistances are expected at 39050 to 39250 levels. Above 39250 levels the next resistance is at 39950 & 40500 levels. SELL SILVER (JULY) BELOW 38100 TG 37300 / 36750 SL ABOVE 39000 BUY SILVER (JULY) ABOVE 38450 TG 39300 / 39800 SL BELOW 37800 S1 37850 S2 37351 PP 38525 R1 39024 R2 39699
05-09-JAN-2015 ENERGY WEEKLY TECHNICAL LEVELS CRUDE OIL (JUNE) MCX WEEKLY CHART TRADING STRATEGY: MCX Crude oil June contract has shown a good bounce-back from support zone of 3590 to 3600 levels. Overall the market sentiment, after a couple of weeks momentum looking weak now & expected to remain mixed to bearish in lack of trigger from domestic & International market. Crude oil June contract as expected during this week price breached the support zone of 3700 levels and corrected to 3601 levels. It is now, expected to remain bearish in coming week. Crude Oil May contract having support at 3820 levels below it at 3770 to 3730 levels & strong supports at 3650 & 3590 levels. Resistances are at 3920 levels & above it at 3980 to 4050 levels & strong resistance at 4120 & 4170 levels. SELL CRUDE OIL (JUNE) BELOW 3820 TG 3720 / 3650 SL ABOVE 3920 BUY CRUDE OIL (JUNE) ABOVE 3920 TG 4030 / 4080 SL BELOW 3820 S1 3703 S2 3538 PP 3791 R1 3956 R2 4044
BASE METALS WEEKLY TECHNICAL LEVELS COPPER (JUNE) MCX WEEKLY CHART TRADING STRATEGY: MCX COPPER June contract remain bearish in the week under the influence of fundamental factors around the world especially China where the HSBC Flash Manufacturing PMI reading, Building Permits, & other important data came & so the Chinese Govt. decided to further give stimulus package for boosting the economy. Now, Copper June contract is looking weak on weekly chart & expected to move downward further to 373 to 367 levels. For the next week, Copper June contract supports are at 383-381 levels. Below 381, at 378-376 levels & strong support at 371 levels. Resistance are at 391-393 levels. Above it at 398 levels & Strong resistance is at 405 & 413 levels. SELL COPPER JUNE BELOW 384 TG 371 / 367 SL ABOVE 393 BUY COPPER JUNE ABOVE 388 TG 396 / 402 SL BELOW 381 S1 382 S2 376 PP 391 R1 396 R2 406
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