Weekly commodity market report 17 march 2014 by epic research

WEEKLY COMMODITY REPORT 17-MAR TO 21-MAR-2014

WEEKLY COMMODITY REPORT 17-MAR TO 21-MAR-2014

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

TRADING STRATEGY: A firm recovery seen in MCX Gold last week, made high of 30737 and closed at 30595. Indian Govt has put on hold the import rats decision, which is supporting to the gold price. Not only domestic market, but COMEX Gold is also on recovery mode, closed at $1382, approx + $45 from previous week closing. For coming weeks we expect gold will trade in positive not.

1. Buy GOLD MCX Above 30850 TGT 30970/31120 SL 30650 2. Sell GOLD MCX Below 30250 TGT 30130/29980 SL 30450

WEEKLY PIVOTAL S1

30122

S2

29648

CLOSE

30595

R1

30903

R2

31210

WEEKLY COMMODITY REPORT 17-MAR TO 21-MAR-2014

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

TRADING STRATEGY: Last week a volatile trading session seen in MCX Silver. MA 50 and 100 giving positive crossover and RSI is also giving bullish signal. We expect price may trade in positive note for coming weeks.

1. Buy SILVER MCX (MAY) Above 47500 TGT 47850/48350 SL 47000 2. Sell SILVER MCX (MAY) Below 46400 TGT 46050/45550 SL 46900

WEEKLY PIVOTAL S1

45778

S2

44473

CLOSE

47084

R1

48133

R2

49183

WEEKLY COMMODITY REPORT 17-MAR TO 21-MAR-2014

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

TRADING STRATEGY: Crude hit the floor after tension release between Ukarine and Russia last week. We are still bearish in MCX crude oil for coming week. After a sharp fall price may recover some 50-100 points, but a firm recovery seen only above 6120.

1. Buy CRUDE OIL MCX Above 6120 TGT 6200/6350 SL 6000 2. Sell CRUDE OIL MCX Below 5920 TGT 5840/5740 SL 6050

WEEKLY PIVOTAL S1

5901

S2

5750

CLOSE

6051

R1

6266

R2

6480

WEEKLY COMMODITY REPORT 17-MAR TO 21-MAR-2014

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

TRADING STRATEGY: No major movement seen in MCX natural gas last week, although price hac broken its support of 275 level and closed below it. We expect price mey correct to 260-250 levels, before going for a recovery .

1. Buy NATURAL GAS MCX Above 295 TGT 305/320 SL 280 2. Sell NATURAL GAS MCX Below 260 TGT 250/235 SL 375

WEEKLY PIVOTAL S1

262.6

S2

253

CLOSE

272.3

R1

286

R2

299.6

WEEKLY COMMODITY REPORT 17-MAR TO 21-MAR-2014

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

TRADING STRATEGY: The red metal continued its bearish trend and broken 400 psychological level, but failed to close below it. Now we expect price may recover if sustain 400 support level. on the other hand if price break 400 level and manage to close below it. We see price in 390-385 level soon.

1. Buy COPPER MCX Above 410 TGT 415/425 SL 402 2. Sell COPPER MCX Below 399 TGT 394/384 SL 407

WEEKLY PIVOTAL S1

393.45

S2

383.4

CLOSE

403.5

R1

417.5

R2

431.5

WEEKLY COMMODITY REPORT 17-MAR TO 21-MAR-2014

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

TRADING STRATEGY: Entire Base metal is in under pressure after negative chines data. We expect lead is recovering after taken support at 122.5 level, 128 level is giving immediate resistance to the price.

1. Buy LEAD MCX Above 126 TGT 127.5/130 SL 123.5 2. Sell LEAD MCX Below 122.5 TGT 121/118.5 SL 125

WEEKLY PIVOTAL S1

122.4

S2

119.7

CLOSE

125

R1

127.85

R2

130.65

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