Weekly commodity trading report 02 jun 2014 by epic research

WEEKLY COMMODITY REPORT 02-JUN TO 06-JUN-2014

WEEKLY COMMODITY REPORT 02-JUN TO 06-JUN-2014

BULLIONS WEEKLY TECHNICAL LEVELS GOLD(AUG) MCX 4 HOURLY CHART

TRADING STRATEGY: During this week prices corrected sharply towards the new contract low of 25,602 levels and finally closed 3.98% lower at 25,881 levels. As per the candlestick pattern prices has formed “Bearish candlestick pattern” which is the sign of pessimism.

For the next week we expect gold prices to find support in the range of 25,500 – 25,400 levels.

Trading consistently below 25,400 levels would lead towards the strong support at 25,000 levels and then finally towards the major support at 24,500 levels.

Resistance is now observed in the range of 26,000 – 26,100 levels. Trading consistently above 26,100 levels would lead towards the strong resistance at 26,400 levels, and then finally towards the major resistance at 26,900 levels.

1 2

BUY GOLD (AUG) ABOVE 26550 TG 26700, 26900 SL 26300 SELL GOLD (AUG) BELOW 2550 TG 25350, 25150 SL 25700

WEEKLY PIVOTAL S1

25322

S2

24763

CLOSE

25881

R1

26720

R2

27559

WEEKLY COMMODITY REPORT 02-JUN TO 06-JUN-2014

BULLIONS WEEKLY TECHNICAL LEVELS SILVER (JUL) MCX 4 HOURLY CHART

TRADING STRATEGY: As expected during this week prices could not able sustain on higher levels and in mid of the week prices corrected towards the new contract low of 39,517 levels and finally closed 2.97 % lower at 39,586 levels. In the week prices have made the new contract low of 39,517 levels and formed “Bearish candlestick pattern” which is the indication of bearish trend.

For the next week we expect silver prices to find support in the range of 39,000 – 38,900 levels.

Trading consistently below 38,900 levels would lead towards the strong support at 38,800 levels.

Resistance is now observed in the range of 40,400 – 40,500 levels. Trading consistently above 40,500 levels would lead towards the strong resistance at 41,300 levels.

1 2

BUY SILVER ABOVE 40500 TG 40900, 41400 SL 40000 SELL SILVER BELOW 39200 TG 38800, 38300 SL 39700

WEEKLY PIVOTAL S1

39019

S2

38411

CLOSE

39626

R1

40732

R2

41837

WEEKLY COMMODITY REPORT 02-JUN TO 06-JUN-2014

ENERGY WEEKLY TECHNICAL LEVELS CRUDE OIL (JUN) MCX 4 HOURLY CHART

TRADING STRATEGY: During this week as expected prices could not able to sustain on higher levels and corrected back towards the weekly low of 6,055 levels. During this week price have closed below the previous week’s closing of 6,120 levels and finally closed 0.23% lower at 6,106 levels. As per the candlestick pattern it formed a “Doji Pattern” which represent indecisive trend.

For the next week we expect Crude oil prices to find support in the range of 6,040 – 6,030 levels.

Trading consistently below 6,030 levels would lead towards the strong support at 5,950 levels.

Resistance is now observed in the range of 6,190-6,200 levels. Trading consistently above 6,200 levels would lead the rally towards the strong resistance at 6,270 levels.

1 2

BUY CRUDE OIL JUN ABOVE 6150 TG 6230, 6330 SL BELOW 6050 SELL CRUDE OIL JUN BELOW 6050 TG 5970, 5870 SL ABOVE 6150

WEEKLY PIVOTAL S1

6041

S2

5977

CLOSE

6106

R1

6184

R2

6263

WEEKLY COMMODITY REPORT 02-JUN TO 06-JUN-2014

ENERGY WEEKLY TECHNICAL LEVELS NATURAL GAS (JUN) MCX 4 HOURLY CHART

TRADING STRATEGY: During this week prices bounced sharply towards the weekly high of 275.70 levels. At the same time price have breached preceding two week’s high and trading above it and formed a “Bullish candlestick pattern” which is the sign of optimism. Finally prices have closed 5.08% higher at 271.20 levels. For the next week we expect Natural Gas prices to find support in the range of 263 - 262 levels. Trading consistently below 262 levels would lead towards the strong support at 255 levels. Resistance is now observed in the range of 278 - 280 levels. Trading consistently above 280 levels would lead towards the strong resistance at 288 levels, and then finally towards the major resistance at 295 levels.

1 2

BUY NATURAL GAS ABOVE 276 TG 284, 294 SL 266 SELL NATURAL GAS BELOW 252 TG 246, 236 SL 262

WEEKLY PIVOTAL S1

259.9

S2

248.6

CLOSE

248.6

R1

279.1

R2

287

WEEKLY COMMODITY REPORT 02-JUN TO 06-JUN-2014

BASE METALS WEEKLY TECHNICAL LEVELS NICKEL (JUN) MCX 4 HOURLY CHART

TRADING STRATEGY: Nickel recovered and closed +2.43% at 1144.60 on Friday. From starting the week nickel price reachs its lowest since mid-May as investors closed positions following a price gain of almost 40 percent for the year so far. Still, the long-term bull trend in nickel remained intact. According to INSG, the surplus in global nickel market dropped significantly during the month of March this year. The global nickel market surplus totaled 3,600 tons in March this year. This is 52.6% down when compared with the surplus data during March last year.

For the next week we expect Nickel prices to find support in the range of 1090 - 1080 levels while Resistance is now observed in the range of 1160- 1185 levels.

1. BUY NICKEL MCX ABOVE 1170 TGT 1190,1230 SL 1130 2. SELL NICKEL MCX BELOW 1100 TGT 1080,1040 SL 1140

WEEKLY PIVOTAL S1

1112.3

S2

1080

CLOSE

1144.6

R1

1172.4

R2

1200.2

WEEKLY COMMODITY REPORT 02-JUN TO 06-JUN-2014

BASE METALS WEEKLY TECHNICAL LEVELS LEAD (JUN) MCX 4 HOURLY CHART

TRADING STRATEGY: MCX Lead May as seen in the chart above has opened at 122.70 levels and during this period prices made a high of 126.80 levels. As expected during this week prices could not able sustain on higher levels and corrected towards the low of 123.45 levels and closed -0.75% at 123.75 level.

For the next week we expect Lead prices to find support in the range of 122.30 - 122 levels while Resistance is now observed in the range of 1126- 126.50 levels.

1. BUY LEAD MCX ABOVE 125.50 TGT 127,129 SL 123 2. SELL LEAD MCX BELOW 122 TGT 120.5,118.5 SL 124.5

WEEKLY PIVOTAL S1

122.53

S2

121.32

CLOSE

124.67

R1

125.88

R2

128.02

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