Gold:-
Gold
whole week trade downwards, it touched the level of 30680 at which it
bounce from the support level and huge buying takes place. It performed
well last day of the week and gave good return to the buyers. We saw a
good buying from the handle of 30770 which further lead to 31065. A
sharp up side on the trend line was seen on charting for the coming days
we are expecting the prices to approach 31320 levels where profit
booking will take place and above this handle some fresh buying can take
place for 31580 levels. Looking for down side 30560 will be immediate
support.
Silver:-
Silver
making new high for the day on day basis finally closed at 46020. It
gives recovery in buying side. There was a level of 44723 from which it
pull the prices from last two trading session. We are positive for this
shining metals prices and it seems like 47635 level would be tested
soon. We saw a sharp buying in the prices from 46100 handle looking on
charts for daily frame. On upper end 47635 will be first resistance and
43520 will be the initial support for the shining metal.
Crude:-
Crude
traded downwards whole week but at last day trading session it touched
the support level of 2894 from which it prices bounce being the best in
commodity segment for the buyers, there is some correction to the buy
side seen in the daily time frame. In coming days it pull the prices of
energy oil prices on positive direction and it seems likely to touch
the immediate resistance of 3027 level would be tested soon. If oil
sustains above 3030 a fresh buying will take place for the bracket of
3300.
Copper:
Copper
consolidate between 344-291 in daily time frame, in last two days
trading session it gave gap up, hoping for the next trading session that
would fill the gap up and would breach major consolidate support level
of 298 in coming days. This Chinese metal will give a break from 318 and
can pull the prices up to 324 where a short down side support can take
place at 305.
Natural Gas:-
Natural
gas being the buyers pick for last two days gave good return. Seems
like buyers are still interested in NG and can lead the prices of
natural gas to 200 handle where the support can be seen at 180 bar. On
the day frame we can see a trend of NG that it’s taking a sharp up move
just after a some corrective days. So buy from dip would be prefer in
it.
ZINC:-
Zinc
prices are following continuous rally from a long time and we can see
that the prices have came to the major resistance now. Breaching on the
year’s high we are expecting a little consolidation for coming days
where buyers can book profit in their position. So after that a fresh
buying can take place. This can lead to 160 handle.
Lead:-
Lead
trend positive for the week and we expect the price to give a positive
boost in coming trading sessions. For the day of Friday lead closed down
but looking on the weekly chart we can notice the potential of metal
to head up to the level of 132 and 140 for the time being 121 should be
taken as a serious support, which if broken, prices can fall till 115
Nickel:-
Nickel
overall trend is consolidated in daily time frame. But few trading
session its short term trend was down now it took some correction for
the course of week and gave the positive closing for the last day prices
closed @ 669 if this up side sustain for the coming week we may found
nickel to approach for on upper side 673.30 would be the first
resistance but if it break the support level of 666.30 it would breached
to the immediate level of 655.
Aluminum:-
Aluminium
overall trend is consolidate but it gives breakout of double bottom
pattern at level 106 in daily time frame, below this level we are
expecting that it would be touched to the immediate support of 103,
gives a long down side trend in coming days prices can fall till 100. As
major support comes at 98 handle if the correction took at 109 handle
we can see the commodity in positive move else 111 and 113 levels can be
seen in coming days.
Commodity Trends:
| R1 | | S1 | |
| GOLD | 31580 | | 30560 | |
| SILVER | 46800 | | 43650 | |
| CRUDE | 3132 | | 2894 | |
| COPPER | 327 | | 305 | |
| NATURAL GAS | 179.70 | | 179.00 | |
| LEAD | 128 | | 125 | |
| ZINC | 163 | | 147 | |
| NICKEL | 680 | | 648 | |
| ALUMINIUM | 109 | | 103 | |
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