commodity weekly report 18 22-april

COMMODITY WEEKLY REPORT

18-22 APRIL 2016

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FUNDAMENTAL VIEW:-

Gold prices move higher but gains seen limited:-Gold prices regained some ground in European market on Friday,

after hitting one-week lows in the previous session due to a stronger U.S. dollar, as the release of upbeat data Chinese

economic growth boosted demand for the precious metal.

TECHNICAL VIEW:-

For the next week, Gold JUNE contract has support of 28700 levels. And strong support in range of 28400 to

28225levels. Resistances are in the range of 29000 to 29070 levels. Above 29180 the next resistance is at 29400 levels

& strong resistance at 29800 levels

TRADING STRATEGY:-

BUY GOLD ABOVE 29200 TGT 29500,29900 SL BELOW 28850

SELL GOLD BELOW 28850 TGT 28550,28200 SL ABOVE 29200

WEEKLY SUPPORT AND RESISTANCE :-

SYMBOL R3 R2 R1 PV S1 S2 S3

GOLD 30600

29830 29400 29050 28600 28280 27500

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GOLD(JUN) MCX DAILY CHART

FUNDAMENTAL VIEW:-

Silver price retreats, safe-haven interest remains robust:-MCX Silver MAY Contract, able to breach its previous week's

high and traded in positive territory and closed at 38507 level. In Comex silver has closed above $16 in weekly basis

which is a positive sign for upside in the near term in silver prices.

TECHNICAL VIEW:-

For the coming week, we expect Silver MAY contract to go up 38900 to 39100 levels. Above 39330, strong resistance is

at 40500 levels. Support are expected at 38000 to 37700 levels. Below 37500 levels the next support is at 37170 &

36800 levels .

TRADING STRATEGY:-

BUY SILVER 37900-38000 AROUND TGT 38900,39500 SL BELOW 37500

SELL SILVER ON RISE 39200-39500 TGT 38500,37800 SL ABOVE 40000




SILVER 41830 39900 39200 37950 37250 36000 34100

SILVER(MAY) MCX DAILY CHART

FUNDAMENTAL VIEW:

Crude Oil little changed before Doha meeting:-Crude futures were steady on Friday in thin business as traders were

reluctant to take on new positions ahead of a planned meeting at the weekend of major oil exporters who want to

rein in ballooning global over-production.

TECHNICAL VIEW:-

Crude Oil MAY contract having support at 2750 to 2710 levels below it at 2640 levels & strong supports at 2430 &

2400 levels. Resistances are at 2884-2920 levels & above it at 2975 to 3011 levels & strong resistance at 3117 & 3213

levels .

TRADING STRATEGY:-

BUY CRUDE OIL ON DIPS 2550-2600 TGT 2750,2900 SL BELOW 2450

SELL CRUDE OIL ON RISE 2850-2900 AROUND TGT 2700,2550 SL ABOVE 3100

WEEKLY SUPPORT AND RESISTANCE:-


CRUDE OIL 3125 2920 2810 2705 2600 2500 2295


CRUDE OIL(APRIL) MCX DAILY CHART

FUNDAMENTAL VIEW:-

U.S. natural gas futures strong down fall after U.S. storage data:- MCX Natural gas April contract shown a downside

movement on the last trading session from higher levels due to U.S. storage data .

TECHNICAL VIEW:-

MCX Natural gas April contract having support at 126 levels below it at 121 levels & Resistances are at 138 levels &

above it at 144 levels.

TRADING STRATEGY:-

SELL NGAS ON RISE 130 TGT 122,115 SL AVOVE 138

WEEKLY SUPPORT AND RESISTANCE:-


NATURALGAS 151 140.50 134 130 123.50 119.50 109


NATURAL GAS(APRIL) MCX DAILY CHART

FUNDAMENTAL VIEW:-

Copper surges on rise in China demand: -Copper prices rose by 2.90 per cent in this week after China's exports in

March returned to growth for the first time in nine months, adding to further signs of stabilization in the world's se-

cond-largest economy that cheered regional investors which raised the demand outlook for the metal. March exports

rose a blistering 11.5 percent from a year earlier, he first increase since June and the largest percentage rise since

February 2015.

TECHNICAL VIEW:-

For the next week, Copper APRIL contract supports are at 305-298 levels. Below it, at 294 levels & strong support at

280 & 250 levels. Resistance are at 318.50 level. Above it at 323 levels & Strong resistance is at 328-335 levels .

TRADING STRATEGY:-

BUY COPPER ABOVE 322 TGT 330,340 SL BELOW 310

SELL COPPER BELOW 316 TGT 308,300 SL ABOVE 322



COPPER 344.50 329.50 323.50 314.50 308.50 299.50 284.50


COPPER(APRIL) MCX DAILY CHART

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ECONOMY DATA NEXT WEEK

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commodity weekly report 18 22-april

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Transcript of commodity weekly report 18 22-april