Weekly commodity trading market report 09 jun 2014 by epic research

WEEKLY COMMODITY REPORT 09-JUNE TO 13-JUNE-2014

WEEKLY COMMODITY REPORT 09-JUNE TO 13-JUNE-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 25,705 levels and finally closed -0.09% lower at 25,599 levels. As per the candlestick pattern prices has formed “Bullish Doji candlestick pattern” which is the sign of pessimism.

For the next week we expect gold prices to find support in the range of 26,020 – 25,600 levels.

Trading consistently below 25,600 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 25,600 – 26,020 levels. Trading consistently above 26,020 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 25950 TG 26150, 26300 SL 25750 SELL GOLD (AUG) BELOW 25700 TG 25500, 25250 SL 25900

WEEKLY PIVOTAL S1

25696

S2

25528

CLOSE

25863

R1

26015

R2

26166

WEEKLY COMMODITY REPORT 09-JUNE TO 13-JUNE-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 contract low of 39,465 levels and finally closed +1.34 % high at 39,465 levels. In the week prices have made the contract low of 39,465 levels and formed “Bullish Dojicandlestick pattern” which is the indication of bullish trend.

For the next week we expect silver prices to find support in the range of 40,500 – 39,600 levels.

Trading consistently below 39,600 levels would lead towards the strong support at 39,000 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 40050 TG 40500, 40700 SL 39750 SELL SILVER BELOW 39800 TG 39300, 39000 SL 40150

WEEKLY PIVOTAL S1

39485

S2

38972

CLOSE

39997

R1

40590

R2

40982

WEEKLY COMMODITY REPORT 09-JUNE TO 13-JUNE-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 6,015 levels. During this week price have closed below the previous week’s closing of 6,120 levels and finally closed - 0.80% lower at 6,057 levels. As per the candlestick pattern it formed a “Bearish Candlestick Pattern” which represent bearish trend.

For the next week we expect Crude oil prices to find support in the range of 6,030 – 6,020 levels.

Trading consistently below 5,920levels would lead towards the strong support at 5,950 levels.

Resistance is now observed in the range of 6,090-6,200 levels. Trading consistently above 6,100 levels would lead the rally towards the strong resistance at 6,200 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

5994

S2

5930

CLOSE

6057

R1

6140

R2

6222

WEEKLY COMMODITY REPORT 09-JUNE TO 13-JUNE-2014

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

TRADING STRATEGY: Nickel down and closed -2.45% at 1111.10 on Friday. From starting the week nickel price down 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 1170- 1185 levels.

1. BUY NICKEL JUN MCX ABOVE 1125 TGT 1190,1230 SL 1070 2. SELL NICKEL JUN MCX BELOW 1100 TGT 1070,1040 SL 1150

WEEKLY PIVOTAL S1

1083.9

S2

1056.8

CLOSE

1111

R1

1148.9

R2

1186.8

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