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auto buy sell signal software in MCX india Commodities Weekly Technical Report 23.06.2014 to 27.06.2014

Content
Weekly Technical Levels
Strategy/Recommendations 

MCXSX/NSE USDINR JUNE (CMP – 60.24)
MCXSX/NSE USDINR June as seen in the weekly chart above has opened the week at 59.95 levels and prices made a low of 59.9175 levels. During the week as expected prices rallied sharply towards the high of 60.6325 levels. At the end of the week prices could not able to sustain on resistance zone of 60.65 - 60.70 levels and corrected towards the weekly low of 59.9175 levels and finally closed 0.58% higher at 60.2450 levels. Technically it is again formed a “Bullish Candlestick pattern” which shows strength in markets.
For the next week we expect USDINR prices to find support in the range of 59.90 – 59.85 levels. Trading consistently below 59.85 levels would lead towards the strong support at 59.70 levels and then finally towards the major support at 59.30 levels.
Resistance is now observed in the range of 60.65 – 60.70 levels. Trading consistently above 60.70 levels would lead towards the strong resistance at 61.00 levels, and then finally towards the major resistance at 61.40 levels.

MCXSX / NSE USDINR Trading levels for the week
Trend: Up
S1 – 59.90 R1 – 60.70
S2 – 59.70 R2 – 61.00
Weekly Recommendation:


MCX GOLD AUGUST (CMP – 27,668 / $ 1,314)

MCX Gold August as seen in the weekly chart above has opened the week at 26,650 levels and made a low of 26,550 levels. During this week as expected prices rallied sharply toward the weekly high of 27,820 levels following with breached the 4 preceding week’s high and trading above it. Finally prices have closed 3.91% higher at 27,668 levels. Technically as per the candlestick pattern prices have formed “Bullish candlestick pattern” indicating strength.
For the next week we expect gold prices to find support in the range of 27,250 – 27,200 levels. Trading consistently below 27,200 levels would lead towards the strong support at 26,800 levels and then finally towards the major support at 26,500 levels.
Resistance is now observed in the range of 28,100 – 28,200 levels. Trading consistently above 28,200 levels would lead towards the strong resistance at 28,600 levels, and then finally towards the major resistance at 28,900 levels.
MCX / Spot Gold Trading levels for the week
Trend: Up
S1 – 27,200 / $ 1,290 R1 - 28,200 / $ 1,340
S2 - 26,800 / $ 1,270 R2 - 28,600 / $ 1,360
Weekly Recommendation:


MCX SILVER JULY (CMP – 44,570 / $ 20.84)

MCX Silver July as seen in the weekly chart above has opened at 41,999 levels and prices made a low of 41,766 levels. During this week as expected prices rallied sharply higher towards the 44,840 levels and finally closed 6.44% higher at 44,570 levels. This week prices had breached 2 preceding month’s high and trading above it. Technically, Prices has formed a “Bullish candlestick pattern” which is sign of positive move.
For the next week we expect silver prices to find support in the range of 43,700 – 43,500 levels. Trading consistently below 43,500 levels would lead towards the strong support at 42,600 levels and then finally towards the major support at 42,000 levels.
Resistance is now observed in the range of 45,500 – 45,600 levels. Trading consistently above 45,600 levels would lead towards the strong resistance at 46,600 levels, and then finally towards the major resistance at 47,500 levels.
MCX / Spot Silver Trading levels for the week
Trend: Up
S1 – 43,500 / $ 20.30 R1 - 45,600 / $ 21.30
S2 - 42,600 / $ 19.90 R2 - 46,600 / $ 21.80
Weekly Recommendation:


MCX COPPER JUNE (CMP – 415.45 / $ 6,777)


MCX Copper June as seen in the weekly chart above has opened at 402 levels and during this week open and low levels were the same. In this week as expected prices rallied sharply towards the weekly high of 416.40 following with breached previous week high and trading above it. During this week prices have closed 3.64% higher at 415.45 levels. Technically, as per the candlestick pattern prices have formed “Bullish candlestick pattern” indicating strength.
For the next week we expect Copper prices to find support in the range of 407 – 409 levels. Trading consistently below 407 levels would lead towards the strong support at 402 levels and then finally towards the major support at 398 levels.
Resistance is now observed in the range of 420 - 421 levels. Trading consistently above 421 levels would lead towards the strong resistance at 427 levels, and then finally towards the major resistance at 434 levels.
MCX / LME Copper Trading levels for the week
Trend: Up
S1 – 407 / $ 6,672 R1 – 421 / $ 6,900
S2 – 402 / $ 6,590 R2 – 427 / $ 7,000
Weekly Recommendation:


MCX CRUDE JULY (CMP – 6,460 / $ 107.26)

MCX Crude oil July as seen in the weekly chart above has opened the week at 6,403 levels and prices made a high of 6,468 levels. During this week price corrected lower towards down and made a low of 6,343 levels but, at the end of the week as expected prices could not able to sustain on support zone 6340 – 6330 levels and bounce back towards the weekly high of 6,468 levels and finally closed 1.19% higher at 6,460 levels. This week prices have closed at highest levels in last 2 months. As per the candlestick pattern prices have formed a “Bullish Candlestick Pattern” which represents the bullish trend for coming trading session.
For the next week we expect Crude oil prices to find support in the range of 6,370 – 6,380 levels. Trading consistently below 6,370 levels would lead towards the strong support at 6,280 levels and then finally towards the major support at 6,200 levels.
Resistance is now observed in the range of 6,550-6,560 levels. Trading consistently above 6,560 levels would lead the rally towards the strong resistance at 6,630 levels, and then finally towards the major resistance at 6,700 levels.
MCX / NYMEX Crude Oil Trading levels for the week
Trend: Up
S1 – 6,370 / $ 105.70 R1 – 6,550 / $ 108.70
S2 – 6,280 / $ 104.20 R2 – 6,630/ $ 110
Weekly Recommendation:


MCX NATURAL GAS JUNE (CMP – 273.20 / $ 4.55)

MCX Natural Gas June as seen in the weekly chart above has opened the week at 285.80 levels and made a high of 288.70 levels. During this week prices could not able to sustain on the resistance zone of 288 – 290 levels and sharply corrected towards the weekly low level of 272.20 levels. This week prices have closed below the previous week’s closing level of 284.70 levels and finally closed 4.04% lower at 273.20 levels. Technically, prices have formed “Bearish candlestick pattern” which is the sign of pessimism.
For the next week we expect Natural Gas prices to find support in the range of 268 - 267 levels. Trading consistently below 267 levels would lead towards the strong support at 262 levels and then finally towards the major support at 255 levels.
Resistance is now observed in the range of 288 - 289 levels. Trading consistently above 289 levels would lead towards the strong resistance at 295 levels, and then finally towards the major resistance at 305 levels.
MCX / NYMEX Natural Gas Trading levels for the week
Trend: Sideways
S1 - 267 / $ 4.40 R1 - 289 / $ 4.80
S2 - 262 / $ 4.20 R2 - 295 / $ 4.95


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