Commodities Weekly Technical Report

19.08.2013 to 23.08.2013

Content
Weekly Technical Levels Strategy/Recommendations

Prepared by
Samson Pasam Sr. Technical Analyst Samsonp@angelbroking.com (040) 39828632

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

19.08.2013 to 23.08.2013

MCX GOLD OCTOBER (CMP 30,771 / $ 1376)

MCX Gold October as seen in the weekly chart above has opened on its low at 28,029 levels and then moved sharply higher, breaking both the resistances towards 30,969 levels. Later prices corrected towards 30,681 levels and finally closed sharply higher from the previous weeks closing levels. For the next week we expect gold prices to find Support in the range of 29,950 29,900 levels. Trading consistently below 29,880 levels would lead towards the strong support at 28,900 levels and then finally towards the major support at 26,990 levels. Resistance is now observed in the range of 31,500-31,560 levels. Trading consistently above 31,600 levels would lead towards the strong resistance at 32,075 levels, and then finally towards the Major resistance at 33,000 levels.

MCX / Spot Gold Trading levels for the week Trend: Up S1-29,930/ $ 1356 S2-28,900 / $ 1334 R1-31,530 / $ 1398 R2-32,075 / $ 1422

Weekly Recommendation: Buy MCX Gold October between 30,200-30,100, SL-29,500, Target -31,500.

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Commodities Weekly Technical Report

19.08.2013 to 23.08.2013

MCX SILVER SEPTEMBER (CMP 50,630 / $ 23.20)

MCX Silver September as seen in the weekly chart above has opened the week on its low at 42,820 levels and then rallied sharply throughout the week breaking both the resistances finally made a high of 51,198. Later prices corrected towards 50,540 levels and finally closed sharply higher from the previous weeks closing levels. For the next week we expect Silver prices to find support in the range of 48,250-48,150 levels. Trading consistently below 48,100 levels would lead towards the strong support at 45,300 levels and then finally towards the major support at 42,400 levels. Resistance is now observed in the range of 53,150-53,250 levels. Trading consistently above 53,300 levels would lead towards the strong resistance at 55,250 levels, and then finally towards the major Resistance at 56,690 levels.

MCX / Spot Silver Trading levels for the week

Trend: Up S1-48,250 / $ 22.40 S2-45,300 / $ 21.40 R1-53,150 / $ 24.20 R2-55,250 / $25.20

Weekly Recommendation: Buy MCX Silver September between 49,600-49,500, SL-48,000, Target -53,100.

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Commodities Weekly Technical Report

19.08.2013 to 23.08.2013

MCX COPPER AUGUST (CMP 466.40/ $7374)

MCX Copper August as seen in the weekly chart above has opened at 441.50 levels initially made a low of 441.30 and then rallied sharply higher throughout the week breaking both the resistances, but finally made a new record high of 467.75 levels. Later prices corrected marginally towards 465 levels and finally closed sharply higher from the previous weeks closing levels. For the next week we expect Copper prices to find support in the range of 458-456 levels. Trading consistently below 454 levels would lead towards the strong support at 449 levels and then finally towards the major support at 442 levels. Resistance is now observed in the range of 474-476 levels. Trading consistently above 477 levels would lead towards the strong resistance at 484 levels and then finally towards the major resistance at 495 levels. MCX / LME Copper Trading levels for the week Trend: Up S1 458.20/ $7260 S2 449.20/ $7130 R1 475.50/ $7460 R2 484.50/ $7540

Weekly Recommendation: Buy MCX Copper August between 459-457, SL-453, Target -474.

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Commodities Weekly Technical Report

19.08.2013 to 23.08.2013

MCX CRUDE SEPTEMBER (CMP 6760 / $ 107.50)

MCX Crude September as seen in the weekly chart above has opened the week on its low at 6398 levels and then rallied sharply throughout the week made a new record high of 6784 levels and finally closed sharply higher from the previous week closing levels. For the next week we expect Crude prices to find support at 6640-6620 levels. Trading consistently below 6600 levels would lead towards the strong support at 6520 levels and then finally towards the major support at 6300 levels. Resistance is now observed in the range of 6880-6900 levels. Trading consistently above 6920 levels would lead towards the strong resistance at 7020 levels and then finally towards the Major resistance at 7100 levels. MCX / NYMEX Crude Oil Trading levels for the week Trend: Up S1- 6640/ $ 106.50 S2-6520 / $ 105.20 R1-6880 / $ 108.90 R2-7020 / $ 110.25

Weekly Recommendation: Buy MCX Crude September between 6640-6620, SL-6500, Target -6880.

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