WEEKLY COMMODITY REPORT 21ST JANAURY 2013
ďƒ˜ HEADLINES Gold slightly lower after weak U.S. consumer data. Gold prices were slightly lower on as weak U.S. consumer
ďƒ˜ TRADING TIP:
following positive economic data from China, the
Buy Crude Oil Jan
of $1,694.90 in early trade, close to the previous
long U.S. holiday weekend after U.S. data showed
world's second-biggest economy. Gold pushed to a high session's one-month peak, but retreated ahead of the consumer sentiment at its lowest in more than a year.
Equity markets and oil prices rebounded after U.S. House Republican leaders said they would seek to break a government budget impasse next week. Copper gains on upbeat China economic data.
Buy Copper Feb Above 436 TGTS-430/425 SL- 440
Copper rose on and was on track to close the week with small gains, bolstered by better-than-expected fourth quarter growth in top consumer China's economy, but concerns about U.S. debt and supply surpluses kept gains in check. China's economy grew at a slightly faster-than-expected 7.9 percent in the fourth quarter of 2012, the latest sign it is pulling out of a post-global financial crisis slowdown that produced its weakest year of economic growth since 1999.
MCX WEEKLY GOLD CHART
ANALYSIS OPEN: 30800 HIGH: 30934 LOW: 30530 CLOSE: 30581
GOLD LOOKS DOWNWARD TREND: BEARISH STRATEGY: SELL ON RISE
MCX WEEKLY SILVER CHART
ANALYSIS OPEN: 58300 HIGH: 59787 LOW: 58300 CLOSE: 59378
SILVER LOOKS DOWNWARD TREND: BEARISH STRATEGY: SELL ON RISE
MCX WEEKLY COPPER CHART
ANALYSIS OPEN: 445.95 HIGH: 447.80 LOW: 435.30 CLOSE: 438.65
COPPER LOOKS DOWNWARD TREND: BEARISH STRATEGY: SELL ON RISE
MCX WEEKLY CRUDE OIL CHART
ANALYSIS OPEN: 5140 HIGH: 5188 LOW: 5077 CLOSE: 5164
CRUDE OIL LOOKS UPWARD TREND: BULLISH STRATEGY: BUY ON DIPS
COMEX WEEKLY SILVER CHART
ANALYSIS OPEN: 30.41 HIGH: 32.10 LOW: 30.36 CLOSE: 31.83
COMEX SILVER LOOKS DOWNWARD TREND: BEARISH STRATEGY: SELL ON RISE
COMEX WEEKLY GOLD CHART
ANALYSIS OPEN: 1661.01 HIGH: 1696.80 LOW: 1658.80 CLOSE: 1684.07
COMEX GOLD LOOKS DOWNWARD TREND: BEARISH STRATEGY: SELL ON RISE
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