Commodities - Commodity Weekly Report-23 July-28 July 2012 in MARKETS - MCX GOLD Technical Trend
MCX GOLD last week showed sideways movement and forms a downward channel pattern on daily charts. ...
07-21-2012 02:52 PM
Commodity Weekly Report-23 July-28 July 2012
MCX GOLD Technical Trend
MCX GOLD last week showed sideways movement and forms a downward channel pattern on daily charts. 29400 is acting as strong resistance and above this we expect breakout of channel pattern. On other hand 29100 will act as major support for it below which it may breach to next support of 28750.
Better strategy in the MCX GOLD is to buy above 29400. For the target of 29700, with stop loss of 29100.
MCX SILVER Technical Trend
MCX SILVER last week showed sideways movement and form a channel pattern on weekly chart. Now immediate support for it is seen around 52200 below this it may find next support around 51000. On higher side 53500 is acting as resistance for it where we expect breakout of channel pattern above this 55200 is seen as next resistance for it.
Better strategy in the MCX SILVER at this point of time is to buy above 53300. For the target of 54000-55000, with stop loss of 52200.
MCX CRUDEOIL Technical Trend
As per our last report, Crude Oil last week gave a breakout of inverse head & shoulder pattern and moved above the neckline of the mentioned pattern i.e. near to 4950 towards the previous resistance of 5150. Still, some upmove is expected above 5190. However, some correction may drag it towards the support of 4980 in the coming week.
Better strategy in MCX CRUDEOIL is to buy above 5190 for the targets of 5290-5400. With stop loss of 4980.
MCX Copper Technical Trend
MCX Copper last week gave a breakout from the triangle pattern but could not hold on higher levels and soon rebounded towards lower levels. This is indicating a weak signal for the coming sessions where if it surpasses the key support of 418 then bears may take it towards the deeper support of 412. On higher side, strength can be said only if it is able to sustain above the major resistance of 428.
Better strategy in the MCX COPPER will be sell below 419, with the stop loss of 428 for the targets of 412.50.
08-30-2012 03:08 PM
The World Gold Council, a market-development organization for the gold industry, lists a number of factors that supportive for gold in the second half of 2012. According to WGC's quarterly report on investment trends, the lower global inflation in the second quarter contributed to a price pullback in the yellow metal.
11-07-2012 03:44 PM
Stock Tips Equity Tips
MCX GOLD Technical Trend
MCX GOLD last week showed downward trend it moved in a downward channel pattern and found strong support of lower band of channel, now if it able to break support of 30350 than we expect bearish trend in it towards the level of 30000. On other hand if it takes reversal from lower band than resistance is seen around 30850.
Better strategy in MCX GOLD is to sell below 30350 for the target of 29800-29400 with stop loss of 30900.
Visitors found this page by searching for:
commodities weekly technical report
Tags for this Thread