MTECHTIPS COMMODITY WEEKLY OUTLOOK

Mtechtips MCX CRUDEOIL DAILY WEEKLY trading analysis

Crude oil weekly outlook-stay long above 5150 only crude oil 20 aug 2012 expiry future on Saturday closed at 5103.on crude oil future closed below weekly level of 5150 and above monthly level of 5035.short term trend is up and on downside 5080 and 5030 are intraday support while we will expect sharp short covering above 5150 on indicate buying demand! crude oil positive closing which indicate continue buying from speculators. from medium to long term view 4980 is major support above this crude oil future will remain on buying radar with medium term targets 5400-5500 that bullish momentum. hold long positions with stoploss of 5080 while positional traders follow stoploss of 5030. on upside 5280-5400-5500 are target levels.

Mtechtips MCX ALUMINIUM DAILY WEEKLY trading analysis

Aluminium weekly outlook-consolidation is going on!major support 100 Mcx aluminium future closed at 103.05.on going under consolidation/range bound where upper range is 105 while lower rang is 102.8.trend still down and during this consolidation will cool off and then after aluminium future will take new move.mcx aluminium future still trading below weekly level that shows its bearishness. mcx aluminium future near major support zone and trend is down.if aluminum slip below 102 on closing basis then it will open targets of 100 and 95.but to oversold zone recovering. traders should find opportunities to accumulate in mcx aluminium future in between 102-103 and keep stoploss below 101.5 for targets of 105 and above!

Mtechtips MCX COPPER DAILY WEEKLY trading analysis

Copper weekly outlook-possibly fall upto 402 copper aug future closed at 414.8. copper tried to breech but failed and slipping down. copper moving in lower tops and bottoms which reflect is downtrend. copper on,slipped of 418 and on downside 400. copper for downside breakout if copper slip below 395 on weekly closing basis then it may possibly fall upto 360 in upcoming time. stay short in copper futures with stoploss above 420 and on downside expect targets of 410 and 402.

Mtechtips MCX ZINC DAILY WEEKLY trading analysis

zinc 31 AUG future closed at 101.8.this week bearish trend of base metal.trend is down and zinc once again slipping towards recent lows. shows bearish mood of market and in upcoming week selling pressure may continue in market. zinc future once again slipped below of 101.below this 101 level traders may expect 98-94-90 as target levels. zinc below 103.2 will remain sell for short time view.below 101 we will expect sharp fall upto 98 to 96.above 103.2 reversal expected!

Mtechtips MCX SILVER DAILY WEEKLY trading analysis

Silver weekly outlook-above 53,600 rally will begin silver sep future closed at 53499 silver give closing above 53,600-53,700 then it will be bullish breakout from downtrend and silver will heads towards 55,000 and 56,000 targets. silver medium term view trend is still down and if silver move above this resistance zone of 54,00055,000 on weekly closing basis then only it will become buy for long term investors! are bullish signs for medium term traders. follow buy on dips strategy and entry zone will be 53,000-53,500 while stoploss will be below 52,400 and expect targets of 54,500-55,000 in next 1-2 weeks.

Mtechtips MCX NICKEL DAILY WEEKLY trading analysis

Nickel weekly outlook-very bearish but oversold Nickel aug future closed at 854.2. we seen nickel is in absolute downtrend and we seen sharp selling pressure from 940 to now 854.nickel also breeched last low of 880 and trading below that.technically nickel future is very bearish but oversold.nickel weekly level is 875 and any bounce back has first target of 875. nickel future on weekly near support of 850 below that next support is 800 and 740.nickel looks oversold is 920 to 945. Nickel future is very bearish but highly oversold.if nickel slip below 850-840 range then possibly this bearish rally will extend upto 800 and then 740.while if hold this support range then bounce back upto 880 to 920.

Mtechtips MCX GOLD DAILY WEEKLY trading analysis

Gold weekly -watch 30,300 resistance in this week

mcx gold oct currently trading at 30,135.gold future trading above weekly level of 29,900.gold is in absolute uptrend on intraday as well as breakout sign mark and trending upward.on monthly level at 29,700 and 29,600.up side 30,300 will be next major breakout point technically above that gold has targets of 30,800 and 31,500. gold on absolute uptrend and taking support intermittently.this week positive closing also a reason to stay long in gold futures.gold future medium term support is 29,200. mcx gold future above 29,700 will remain buy on dips and above 30,300 will expect sharp move of 2-3% and targets above 30,300 comes at 30,800 and then 31,500.

Mtechtips MCX NATURALGAS DAILY WEEKLY trading analysis

Natural gas weekly outlook-follow sell on rise strategy Natural gas aug future continues its downtrend and on Saturday also closed with losses at 154.4.natural gas future slipped below of 157.this downside rally now opened targets of 140 and 122. #Natural gas Natural gas future of 152 and below that 144.this week slipped below of 166!on weekly fresh breakdown below +100 level and that confirms that in upcoming 1-2 weeks natural gas will face heavy supply from market.from long term perspective natural gas still in downtrend as shows. for short positions follow stoploss of 166 while on downside first target zone is 140-144.below that 120122 is second support zone!

Mtechtips MCX LEAD DAILY WEEKLY trading analysis

Lead weekly outlook-below 104 target will be 100 mcx lead aug future closed at 104.8.this week lead closed in negative and that is bearish sign. mcx lead future once again slipped below major short term averages. that is very bearish sign for short term view. lead future on weekly chart showing negative closing this week.from medium to long term view going through consolidation or looks range bound.on downside 100 and 95 are support levels while 107 and 110 are resistances. traders should follow sell on rise strategybelow 107 as major supply zone for downside targets of 100 and below.

Mtechtips MCX USD/INR DAILY WEEKLY trading analysis

USDINR weekly outlook-rupee will turn bullish below 55 #USDINR daily candlestick chart analysis:-

usdinr spot closed at 55.23 while this month expiry future closed at 55.49.there is 26 paisa premium in current month future.on daily chart usdinr pair is near its 3 month average of 55 below that rupee become strong and dip correction expected.cci negative and heading towards 200 and rsi near 50! #USDINR weekly candlestick chart analysis:usdinr this week closed with loss on soft dollar index and strong dollar inflow from FII.usdinr slipped below monthly average and on downside 54.5 is 6 month average and 52 is yearly average.and they will act as support for upcoming time.on upside 55.5 will act as resistance.on weekly chart indicators confirms correction. #USDINR monthly candlestick chart analysis:usdinr on monthly chart heading towards 3 rd negative closing on month on month basis.on monthly chart cci slips below +200 while rsi is with bearish divergence. #USDINR trading tips for next week:USDINR currency pair may continue its correction and turn bearish for short term view.so traders should stay short on usdinr pair for targets 54 and below in next week.