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buy sell signal software for mcx commodityface Weekly 11.08 to 14.08



buy sell signal software for mcx commodityface Weekly 11.08 to 14.08

Commodities Weekly Technical Report11.08.2014 to 14.08.2014
Content
Weekly Technical Levels
Strategy/Recommendations

MCXSX/NSE USDINR AUG (CMP – 61.4525)
 
MCXSX/NSE USDINR Aug as seen in the weekly chart above has opened the week at 61.25 levels and made a low of 60.5225 levels. As expected during this week price rallied sharply towards the 13 week’s high of 61.9875 levels. At the end of the week prices could not able to sustain on the higher levels and corrected sharply towards the 61.3825 levels. In this week prices closed below the previous week closing of 61.4650 levels and finally closed 0.02% lower at 61.4525 levels. Technically, prices have formed “Doji candlestick pattern with positive bias” which is the sign of range bound movement with positive bias.
For the next week we expect USDINR prices to find support in the range of 61.00 – 60.80 levels. Trading consistently below 60.80 levels would lead towards the strong support at 60.40 levels and then finally towards the major support at 60.00 levels.
Resistance is now observed in the range of 61.90 – 62.00 levels. Trading consistently above 62.00 levels would lead towards the strong resistance at 62.50 levels, and then finally towards the major resistance at 63.00 levels.
MCXSX / NSE USDINR Trading levels for the week
Trend: Sideways Up
S1 – 61.00 R1 – 62.00
S2 – 60.40 R2 – 62.50
Weekly Recommendation:


MCX GOLD OCT (CMP – 28,604 / $ 1,311)




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.
Resistance is now observed in the range of 29,100 – 29,150 levels. Trading consistently above 29,300 levels would lead towards the strong resistance at 29,800 levels, and then finally towards the major resistance at 30,300 levels.
MCX / Spot Gold Trading levels for the week
Trend: Up
S1 – 27,900 / $ 1,280 R1 - 29,100 / $ 1,330
S2 - 27,500 / $ 1,260 R2 - 29,800 / $ 1,350
Weekly Recommendation:


MCX SILVER SEPT (CMP – 43,580 / $ 19.96)


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. In the mid of the week prices bounced from the lower levels towards the 44,308 levels and finally closed 1.91% lower at 43,580 levels. During this week prices have closed below the previous week’s closing and formed a “Bearish candlestick pattern” which is the sign of pessimism.
For the next week we expect silver prices to find support in the range of 43,000 – 42,800 levels. Trading consistently below 42,800 levels would lead towards the strong support at 42,000 levels and then finally towards the major support at 41,400 levels.
Resistance is now observed in the range of 44,600 – 44,700 levels. Trading consistently above 45,500 levels would lead towards the strong resistance at 46,600 levels, and then finally towards the major resistance at 48,000 levels.
MCX / Spot Silver Trading levels for the week
Trend: Sideways
S1 – 42,800 / $ 19.60 R1 - 44,700 / $ 20.50
S2 - 42,000 / $ 19.20 R2 - 45,500 / $ 21.00


MCX COPPER AUG (CMP – 429.80 / $ 7,020)




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. During this week prices have tested the previous high of 439.40 levels but could not able to breach the levels and corrected these levels and made a “Double Top” formation which is supportive for the down trend. In this week price are able to close below the previous week’s closing of 435.25 levels and finally closed 1.23% lower at 429.90 levels. Technically, as per the candlestick pattern prices have formed “Bearish candlestick pattern with Double Top” indicating weakness.
For the next week we expect Copper prices to find support in the range of 424 – 422 levels. Trading consistently below 422 levels would lead towards the strong support at 419 levels and then finally towards the major support at 414 levels.
Resistance is now observed in the range of 435 - 437 levels. Trading consistently above 437 levels would lead towards the strong resistance at 442 levels, and then finally towards the major resistance at 450 levels.
MCX / LME Copper Trading levels for the week
Trend: Down
S1 – 424 / $ 6,950 R1 – 437 / $ 7,170
S2 – 419 / $ 6,860 R2 – 442 / $ 7,250
Weekly Recommendation:


MCX CRUDE OIL AUG (CMP – 5,975 / $ 97.35)


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. During this week we saw that prices have moved between the support and resistance levels and as per technically it made a “Doji formation” which indicates the range bound trend.
For the next week we expect Crude oil prices to find support in the range of 5,900 – 5,880 levels. Trading consistently below 5,880 levels would lead towards the strong support at 5,820 levels and then finally towards the major support at 5,750 levels.
Resistance is now observed in the range of 6,080 - 6,100 levels. Trading consistently above 6100 levels would lead the rally towards the strong resistance at 6,180 levels, and then finally towards the major resistance at 6,250 levels.
MCX / NYMEX Crude Oil Trading levels for the week
Trend: Sideways
S1 – 5,880 / $ 95.80 R1 – 6,100 / $ 99.50
S2 – 5,820 / $ 94.80 R2 – 6,180 / $ 100.70
Weekly Recommendation:


MCX NATURAL GAS AUG (CMP – 243.30 / $ 3.975)


MCX Natural Gas Aug as seen in the weekly chart above has opened the week at 233 levels and made a low of 232.10 levels. During this week prices bounced from the support zone of 230 – 232 levels towards the weekly high of 246.80 levels. This week prices finally closed 4.02% higher at 243.30 levels. Technically, prices have formed “Bullish candlestick pattern” which is the sign of optimism.
For the next week we expect Natural Gas prices to find support in the range of 238 - 236 levels. Trading consistently below 236 levels would lead towards the strong support at 230 levels and then finally towards the major support at 225 levels.
Resistance is now observed in the range of 248 - 250 levels. Trading consistently above 250 levels would lead towards the strong resistance at 256 levels, and then finally towards the major resistance at 263 levels.
MCX / NYMEX Natural Gas Trading levels for the week
Trend: Up
S1 - 236 / $ 3.80 R1 - 248 / $ 4.05
S2 - 230 / $ 3.65 R2 - 256 / $ 4.18
Weekly Recommendation:


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