Refresh MCX Gold Live 10 minute Intraday Chart with automatic Buy and Sell Signal
Commodities Weekly Technical Report 30.06.2014 to 04.07.2014 June July
MCXSX/NSE USDINR JULY (CMP – 60.44)
For the next week we expect USDINR prices to find support in the range of 60.20 – 60.10 levels. Trading consistently below 60.10 levels would lead towards the strong support at 59.90 levels and then finally towards the major support at 59.70 levels.
Resistance is now observed in the range of 60.80 – 60.85 levels. Trading consistently above 60.85 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: Sideways
S1 – 60.20 R1 – 60.85
S2 – 59.90 R2 – 61.00
MCX GOLD AUGUST (CMP – 27,672 / $ 1,316)
MCX Gold August as seen in the weekly chart above has opened the week at 27,616 levels and as expected during this week prices rallied sharply and made a high of 27,870 levels. In this week prices made a low of 27,490 levels but at the end of the week prices again rallied sharply towards the levels of 27,799 levels and finally closed 0.01% higher on 27,672 levels. Technically as per the candlestick pattern prices have formed “Doji candlestick pattern” indicating indecisiveness.
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: Sideways Up
S1 – 27,200 / $ 1,300 R1 - 28,200 / $ 1,340
S2 - 26,800 / $ 1,280 R2 - 28,600 / $ 1,360
Weekly Recommendation: we have already hold sell position
MCX SILVER SEPT (CMP – 45,097 / $ 20.95)
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: Sideways Up
S1 – 27,200 / $ 1,300 R1 - 28,200 / $ 1,340
S2 - 26,800 / $ 1,280 R2 - 28,600 / $ 1,360
Weekly Recommendation: we have already hold sell position
MCX SILVER SEPT (CMP – 45,097 / $ 20.95)
MCX Silver Sept as seen in the weekly chart above has opened at 44,724 levels and prices made a low of 44,631 levels. During this week as expected prices rallied sharply higher towards the 45,450 levels and finally closed 0.41% higher at 45,097 levels. This week prices are able to close above the previous week’s closing of 44,912 levels. Technically, prices have formed the “Bullish candlestick pattern” which is the positive sign for upcoming trading sessions.
For the next week we expect silver prices to find support in the range of 44,300 – 44,000 levels. Trading consistently below 44,000 levels would lead towards the strong support at 43,200 levels and then finally towards the major support at 42,700 levels.
Resistance is now observed in the range of 45,900 – 46,000 levels. Trading consistently above 46,000 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 – 44,300 / $ 20.50 R1 - 45,900 / $ 21.50
S2 - 43,200 / $ 20.00 R2 - 46,600 / $ 21.80
Weekly Recommendation:
MCX COPPER AUGUST (CMP – 423.75 / $ 6,976)
MCX Copper August as seen in the weekly chart above has opened with gap up at 418.90 levels and the same time the open and low levels were the same. In this week as expected prices rallied sharply towards the weekly high of 427.10 following with breached previous week’s high (418.70 levels) and trading above it. During this week prices have closed 1.35% higher at 423.75 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 415 – 417 levels. Trading consistently below 415 levels would lead towards the strong support at 411 levels and then finally towards the major support at 407 levels.
Resistance is now observed in the range of 430 - 431 levels. Trading consistently above 431 levels would lead towards the strong resistance at 437 levels, and then finally towards the major resistance at 444 levels.
MCX / LME Copper Trading levels for the week
Trend: Up
S1 – 415 / $ 6,700 R1 – 431 / $ 7,100
S2 – 407 / $ 6,590 R2 – 437 / $ 7,300
Weekly Recommendation:
MCX CRUDE JULY (CMP – 6,364 / $ 105.70)
MCX Crude oil July as seen in the weekly chart above has opened the week at 6,470 levels and prices made a high of 6,499 levels. During this week price could not able to sustain on resistance zone of 6,500 – 6,510 levels and corrected towards down and made a low of 6,348 levels. In the week prices closed below the previous week’s closing of 6,460 levels and finally closed 1.49% lower at 6,364 levels. As per the candlestick pattern prices have formed a “Bearish Engulfing Candlestick Pattern” which is negative sign for further upcoming trading sessions.
For the next week we expect Crude oil prices to find support in the range of 6,280 – 6,300 levels. Trading consistently below 6,280 levels would lead towards the strong support at 6,200 levels and then finally towards the major support at 6,140 levels.
Resistance is now observed in the range of 6,500-6,510 levels. Trading consistently above 6,510 levels would lead the rally towards the strong resistance at 6,580 levels, and then finally towards the major resistance at 6,700 levels.
MCX / NYMEX Crude Oil Trading levels for the week
Trend: Down
S1 – 6,280 / $ 103 R1 – 6,510 / $ 108.70
S2 – 6,140 / $ 101 R2 – 6,700 / $ 110
Weekly Recommendation:
MCX NATURAL GAS JULY (CMP – 264.90 / $ 4.43)
MCX Natural Gas July as seen in the weekly chart above has opened the week at 275.60 levels and made a high of 278.70 levels. During this week prices could not able to sustain on the resistance zone of 278 – 280 levels and sharply corrected towards the weekly low level of 264 levels. This week prices have closed below the previous week’s closing level of 275.70 levels and finally closed 3.92% lower at 264.90 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 257 - 255 levels. Trading consistently below 255 levels would lead towards the strong support at 251 levels and then finally towards the major support at 248 levels.
Resistance is now observed in the range of 273 - 275 levels. Trading consistently above 275 levels would lead towards the strong resistance at 280 levels, and then finally towards the major resistance at 290 levels.
MCX / NYMEX Natural Gas Trading levels for the week
Trend: Down
S1 - 257 / $ 4.20 R1 - 273 / $ 4.60
S2 - 251 / $ 4.00 R2 - 280 / $ 4.80
Weekly Recommendation: Sell on rise
Resistance is now observed in the range of 273 - 275 levels. Trading consistently above 275 levels would lead towards the strong resistance at 280 levels, and then finally towards the major resistance at 290 levels.
MCX / NYMEX Natural Gas Trading levels for the week
Trend: Down
S1 - 257 / $ 4.20 R1 - 273 / $ 4.60
S2 - 251 / $ 4.00 R2 - 280 / $ 4.80
Weekly Recommendation: Sell on rise
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