Weekly commodity market report 05 may 2014 by epic research

WEEKLY COMMODITY REPORT 05-MAY TO 09-MAY-2014

WEEKLY COMMODITY REPORT 05-MAY TO 09-MAY-2014

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

TRADING STRATEGY: In previous week prices could not able sustain on higher levels and in mid of the week prices corrected towards the low of 28,420 levels. In the end of the week as expected prices bounced from the support levels towards 28,889 levels and finally closed 0.12% lower at 28,871 levels. As per the candlestick pattern prices has formed “Hammer candlestick pattern” which is the sign of optimism.

For the next week we expect gold prices to find support in the range of 28,250 – 28,200 levels.

Trading consistently below 28,200 levels would lead towards the strong support at 27,800 levels and then finally towards the major support at 27,200 levels.

1 2

BUY GOLD ABOVE 28950 TG: 29100, 29300 SL: 28750 SELL GOLD BELOW 28350 TG: 28100, 27900 SL: 28550

WEEKLY PIVOTAL S1

28521

S2

28170

CLOSE

28871

R1

29121

R2

29370

WEEKLY COMMODITY REPORT 05-MAY TO 09-MAY-2014

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

TRADING STRATEGY: During this week prices corrected sharply towards the low of 41,200 levels. At end of the week as expected prices bounced from the support levels towards 42,768 levels and finally closed 1.79% lower at 42,540 levels. During this week prices have closed below previous week’s closing of 43,315 levels and as per candlestick pattern it formed a “Bearish candlestick” which is the indication of bearish activity. For the next week we expect silver prices to find support in the range of 41,200 – 41,000 levels. Trading consistently below 41,000 levels would lead towards the strong support at 40,000 levels and then finally towards the major support at 39,000 levels.

1 2

BUY SILVER ABOVE 42300 TG: 42600, 43000 SL: 41900 SELL SILVER BELOW 41400 TG: 41000, 40500 SL: 41800

WEEKLY PIVOTAL S1

41342

S2

40143

CLOSE

42083

R1

43597

R2

44653

WEEKLY COMMODITY REPORT 05-MAY TO 09-MAY-2014

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

TRADING STRATEGY: As expected prices could not able to sustain on higher levels and corrected back towards 5,962 levels. During this week price are able to close below the previous week’s closing of 6,131 levels and finally closed 1.97% lower on 6,010 levels. As per candlestick formation it formed a big “Bearish candlestick” pattern which indicates pessimistic trend for coming trading days.

For the next week we expect Crude oil prices to find support in the range of 5,920 – 5,900 levels.

Trading consistently below 5,900 levels would lead towards the strong support at 5,780 levels.

1 2

SELL CRUDE OIL BELOW 5950 TG: 5850, 5750 SL: 6050 BUY CRUDE OIL ABOVE 6100 TG: 6200, 6300 SL: 6000

WEEKLY PIVOTAL S1

5920

S2

5830

CLOSE

6010

R1

6142

R2

6274

WEEKLY COMMODITY REPORT 05-MAY TO 09-MAY-2014

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

TRADING STRATEGY: During last week as expected prices could not able to sustain on the higher levels and corrected back towards the weekly low of 282.10 levels. In the week prices are able to close below the previous week’s closing of 285.10 levels and finally closed 0.98% lower on 282.30 levels and formed “Inverted Hammer candlestick” pattern which indicates the bearish trend.

1 2

SELL NATURAL GAS BELOW 279.00 TG: 272, 265 SL: 285 BUY NATURAL GAS ABOVE 293.00 TG: 299, 305 SL: 286

WEEKLY PIVOTAL S1

278.43

S2

274.57

CLOSE

282.3

R1

289.83

R2

297.37

WEEKLY COMMODITY REPORT 05-MAY TO 09-MAY-2014

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

TRADING STRATEGY: During last week prices corrected sharply towards the low of 405.55 levels and at the end of the week prices bounced back from near to the support of 405 levels and finally closed 1.90% lower on 411.55 levels. During this week prices have closed below previous week’s closing of 419.50 levels and as per candlestick it formed a “Bearish candlestick” pattern which indicates bearishness.

1. BUY COPPER MCX ABOVE 425 TGT 433/443 SL 415 2. SELL COPPER MCX BELOW 405 TGT 397/387 SL 415

WEEKLY PIVOTAL S1

404

S2

396.45

CLOSE

411.55

R1

420.65

R2

429.75

WEEKLY COMMODITY REPORT 05-MAY TO 09-MAY-2014

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

TRADING STRATEGY:

1. BUY LEA(MAY) MCX ABOVE 128 TGT 129.5/131.5 SL 126 2. SELL LEAD(MAY) MCX BELOW 125 TGT 123.5/121.5 SL 127.50

WEEKLY PIVOTAL S1

123.53

S2

121.07

CLOSE

126

R1

129.83

R2

133.67

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