Commodities Weekly Technical Report

24.06.2013 to 28.06.2013

Content
Weekly Technical Levels Strategy/Recommendations

Prepared by
Samson Pasam Sr. Technical Analyst Samsonp@angelbroking.com (040) 30932632

Angel Commodities Broking Pvt. Ltd. Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093. Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 2921 2000 MCX Member ID: 12685 / FMC Regn No: MCX / TCM / CORP / 0037 NCDEX : Member ID 00220 / FMC Regn No: NCDEX / TCM / CORP / 0302

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Commodities Weekly Technical Report

24.06.2013 to 28.06.2013

MCX GOLD AUGUST (CMP 27,018 / $ 1297.90)

MCX Gold August as seen in the weekly chart above has opened at 27,899 levels initially moved sharply higher, but found very good resistance at 28,119 levels. Later prices fell sharply breaking both the supports towards 26,706 levels and finally closed lower from the previous weeks closing levels. For the next week we expect gold prices to find Support in the range of 26,470 26,430 levels. Trading consistently below 26,410 levels would lead towards the strong support at 25,877 levels and then finally towards the major support at 25,770 levels. Multiple closing below 25,750 levels would indicate that a major top has been posted and thereby new leg down can be expected initially towards 25,465 levels and then finally towards 25,050 levels. Resistance is now observed in the range of 27,280-27,330 levels. Trading consistently above 27,350 levels would lead towards the strong resistance at 27,860 levels, and then finally towards the Major resistance at 28,700 levels.

MCX / Spot Gold Trading levels for the week Trend: Down S1-26,470/ $ 1247 S2-25,870 / $ 1196 R1-27,280 / $ 1321 R2-27,860 / $ 1370

Recommendation: Sell MCX Gold August between 27,280-27,330, SL-27,551, Target -26,500.

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Commodities Weekly Technical Report

24.06.2013 to 28.06.2013

MCX SILVER JULY (CMP 41,581 / $ 20.08)

MCX Silver July as seen in the weekly chart above has opened at 43,860 levels initially moved higher, but found good resistance at 44,240 levels. Later prices fell sharply breaking both the supports towards 40,716 levels and finally closed lower from the previous weeks closing levels. For the next week we expect Silver prices to find support in the range of 40,150-40,100 levels. Trading consistently below 40,000 levels would lead towards the strong support at 38,650 levels and then finally towards the major support at 37,080 levels. Resistance is now observed in the range of 42,550-42,650 levels. Trading consistently above 42,700 levels would lead towards the strong resistance at 43,650 levels, and then finally towards the major Resistance at 45,710 levels.

MCX / Spot Silver Trading levels for the week

Trend: Down S1-40,150 / $ 19.10 S2-38,650 / $ 17.80 R1-42,550 / $ 20.55 R2-43,650 / $ 21.65

Recommendation: Sell MCX Silver July between 42,500-42,550, SL-43,201, Target -40,200.

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Commodities Weekly Technical Report

24.06.2013 to 28.06.2013

MCX COPPER JUNE (CMP 407.80/ $6844)

MCX Copper June as seen in the weekly chart above has opened at 408.25 levels initially moved sharply higher and as expected found good resistance at 412.70 levels. Later prices fell sharply towards the expected support at 401.85 levels and finally closed unchanged from the previous weeks closing levels. For the next week we expect Copper prices to find support in the range of 402.50-401.50 levels. Trading consistently below 401 levels would lead towards the strong support at 396.55 levels and then finally towards the major support at 392.40 levels. Multiple closing below 392 levels would indicate that a short term top has been posted and thereby new leg down can be expected initially towards 379.50 levels and then finally towards 368 levels. Resistance is now observed in the range of 413-414 levels. Trading consistently above 415 levels would lead towards the strong resistance at 418 levels and then finally towards the major resistance at 424 levels. MCX / LME Copper Trading levels for the week Trend: Sideways S1 402.50/ $6760 S2 396.50/ $6630 R1 413/$7010 R2 418/$7120

Recommendation: Buy MCX Copper June between 405.60-404.60, SL-402, Target -412.

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Commodities Weekly Technical Report

24.06.2013 to 28.06.2013

MCX CRUDE JULY (CMP 5613 / $ 93.95)

MCX Crude July as seen in the weekly chart above has opened at 5690 levels initially moved sharply higher and as expected found very good resistance at 5854 levels. Later prices fell sharply towards 5587 levels and finally closed sharply lower from the previous week closing levels. For the next week we expect Crude prices to find support at 5525-5505 levels. Trading consistently below 5500 levels would lead towards the strong support at 5420 levels and then finally towards the major support at 5356 levels. Resistance is now observed in the range of 5684-5704 levels. Trading consistently above 5710 levels would lead towards the strong resistance at 5781 levels, and then finally towards the Major resistance at 5951 levels. MCX / NYMEX Crude Oil Trading levels for the week Trend: Down S1- 5515 / $ 91.65 S2-5420 / $ 89.35 R1-5685 / $ 95.45 R2-5781 / $ 97.80

Recommendation: Sell MCX Crude July between 5680-5700, SL-5801, Target -5520.

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