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2. BULLIONS WEEKLY TECHNICAL LEVELS
GOLD(AUG) MCX DAILY CHART
WEEKLY PIVOTAL
S1 28048
S2 27491
CLOSE 28566
R1 29123
R2 29641
WEEKLY COMMODITY REPORT
11-15 AUG-2014
TRADING STRATEGY:
MCX Gold Oct as seen in the weekly chart above has opened the week at 28,165 levels
and made a low of 28,010 levels. During this week price could not able to breach the
support zone of 28,000 - 27,900 levels and bounced sharply towards the high of 29,085
levels. At the end of the week price corrected towards the down side and finally closed
1.35% higher at 28,604 levels. Technically, as per the candlestick pattern prices have
formed “Bullish candlestick pattern” indicating optimism for the coming trading sessions.
For the next week we expect gold prices to find support in the range of 28,000,27,950
levels. Trading consistently below 27,950 levels would lead towards the strong support at
27,500 levels and then finally towards the major support at 26,800 levels.
BUY GOLD (OCT) ABOVE 29100 TGTS 29300/29600 SL BELOW 28900
SELL GOLD (OCT) BELOW 28600 TGTS 28400/28100 SL ABOVE 28800
3. BULLIONS WEEKLY TECHNICAL LEVELS
SILVER (JUL) MCX DAILY CHART
WEEKLY PIVOTAL
S1 43017
S2 42455
CLOSE 43829
R1 44391
R2 45203
TRADING STRATEGY
MCX Silver Sept as seen in the weekly chart above has opened at 44,427 levels and
made a high of 44,640 levels. During the week prices could not able to breach the
resistance zone of 44,600 – 44,700 levels and corrected sharply towards the low of
43,266 levels.
BUY SILVER (SEP) ABOVE 44300 TGTS 44700/45300 SL 43900
SELL SILVER (SEP) BELOW 43400 TGTS 43000/42400 SL 43800
WEEKLY COMMODITY REPORT
11-15 AUG-2014
4. ENERGY WEEKLY TECHNICAL LEVELS
CRUDE OIL (JUL) MCX DAILY CHART
TRADING STRATEGY:
MCX Crude oil Aug as seen in the weekly chart above has opened the week at 5,987
levels and as expected during this week price could not able to breach the resistance
zone of 6,060 – 6,080 levels and corrected towards the low of 5,934 levels. At the last
trading session of the week prices bounced from the lower levels and finally closed
0.02% higher at 5,975 levels.
BUY CRUDEOIL (AUG) ABOVE 6070 TGT 6170/6320 SL BELOW 5920
SELL CRUDEOIL (AUG) BELOW 5930 TGT 5830/5680 SL ABOVE 6080
WEEKLY PIVOTAL
S1 5918
S2 5860
CLOSE 5991
R1 6049
R2 6122
WEEKLY COMMODITY REPORT
11-15 AUG-2014
5. BASE METALS WEEKLY TECHNICAL LEVELS
COPPER (JUN) MCX DAILY CHART
TRADING STRATEGY:
MCX Copper August as seen in the weekly chart above has opened at 434.70 levels and in the
starting of the week price have made a high of 439.40 levels but could not able to sustain on
resistance zone of 439 - 442 and corrected sharply towards the weekly low of 429.10 levels.
BUY COPPER (AUG) ABOVE 433 TGT 439/445 SL BELOW 427
SELL COPPER (AUG) BELOW 429 TGT 423/417 SL ABOVE 435
WEEKLY PIVOTAL
S1 426.2
S2 422.5
CLOSE 432.8
R1 436.5
R2 443.1
WEEKLY COMMODITY REPORT
11-15 AUG-2014
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