Commodities Weekly Technical Report

16.12.2013 to 20.12.2013

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

16.12.2013 to 20.12.2013

MCX GOLD FEBRUARY (CMP 29,432 / $ 1236)

MCX Gold February as seen in the weekly chart above has opened the week at 28,921 levels initially moved marginally lower, but has found support at 28,842 levels. Later prices rallied sharply towards 29,639 levels, but could not sustain the gains corrected back towards 29,150 levels, and finally closed higher from the previous weeks closing levels. For the next week we expect gold prices to find support in the range of 29,300 29,250 levels. Trading consistently below 29,200 levels would lead towards the strong support at 28,960 levels and then finally towards the major support at 28,500 levels. Resistance is now observed in the range of 29,740-29,780 levels. Trading consistently above 29,800 levels would lead towards the strong resistance at 30,100 levels, and then finally towards the Major resistance at 30,450 levels.

MCX / Spot Gold Trading levels for the week Trend: Sideways S1-29,272/ $ 1223 S2-28,960 / $ 1192 R1-29,760 / $ 1261 R2-30,100/ $ 1288

Weekly Recommendation: Buy MCX Gold February between 29,280-29,250, SL-28,960, Target -29,750.

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Commodities Weekly Technical Report

16.12.2013 to 20.12.2013

MCX SILVER MARCH (CMP 44,776 / $ 19.67)

MCX Silver March as seen in the weekly chart above has opened the week at 43,951 levels initially moved lower and as expected found very strong support just below the expected level at 43,737 levels. Later prices rallied sharply breaking both the resistance levels towards 45,845 levels, but could not sustain the gains fell back lower towards 44,051 levels, and finally closed higher from the previous weeks closing levels. For the next week we expect silver prices to find support in the range of 43,850 43,700 levels. Trading consistently below 43,500 levels would renew the previous week fall initially towards 42,700 levels and then finally towards the major support at 41,850 levels. Resistance is now observed in the range of 45,800-45,850 levels. Trading consistently above 45,900 levels would lead towards the strong resistance at 46,900 levels, and then finally towards the Major resistance at 48,000 levels. MCX / Spot Silver Trading levels for the week Trend: Sideways S1-43,730 / $ 19.12 S2-42,680 / $ 18.60 R1-45,835 / $ 20.32 R2-46,900 / $21.00

Weekly Recommendation: Buy MCX Silver March between 44,460 - 44,400, SL-43,500, Target -45,800.

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Commodities Weekly Technical Report

16.12.2013 to 20.12.2013

MCX COPPER FEBRUARY (CMP 461.75 / $7245)

MCX Copper February as seen in the weekly chart above has opened at 445.70 levels initially moved marginally lower, but has found good support at 443.70 levels. Later prices rallied sharply breaking both the resistance levels towards 462.40 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 456 455 levels. Trading consistently below 454 levels would lead towards the strong support at 449 levels and then finally towards the major support at 437 levels. Resistance is now observed in the range of 468-469 levels. Trading consistently above 470 levels would lead towards the strong resistance at 474.60 levels, and then finally towards the Major resistance at 481.50 levels. MCX / LME Copper Trading levels for the week Trend: UP S1 456.00/ $7200 S2 449.50/ $7130 R1 468.20/ $7310 R2 474.60/ $7380

Weekly Recommendation: Buy MCX Copper February between 456-455, SL-449, Target -468.

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Commodities Weekly Technical Report

16.12.2013 to 20.12.2013

MCX CRUDE DECEMBER (CMP 6034 / $ 96.56)

MCX Crude December as seen in the weekly chart above has opened the week at 5983 levels initially moved lower, but has found very good support at 5933 levels. Later prices rallied sharply towards 6108 levels and finally closed higher from the previous week closing levels. For the next week we expect Crude prices to find support in the range of 5950 5940 levels. Trading consistently below 5930 levels would lead towards the strong support at 5850 levels and then finally towards the major support at 5785 levels. Resistance is now observed in the range of 6110-6120 levels. Trading consistently above 6130 levels would lead towards the strong resistance at 6200 levels, and then finally towards the Major resistance at 6280 levels.

MCX / NYMEX Crude Oil Trading levels for the week Trend: Sideways S1- 5942/ $ 95.65 S2-5850/ $ 94.70 R1-6120 / $ 98.10 R2-6200 / $ 99.70

Weekly Recommendation: Buy MCX Crude December between 5960-5940, SL-5840, Target -6110.

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Commodities Weekly Technical Report

16.12.2013 to 20.12.2013

MCX NATURAL GAS DECEMBER (CMP 272.50 / $ 4.384)

MCX Natural Gas December as seen in the weekly chart above has opened the week gap up at 254.50 levels initially made a low of 254.30 levels and then rallied sharply breaking both the resistances towards 276.70 levels and finally closed sharply higher from the previous week closing levels. For the next week we expect Natural Gas prices to find support in the range of 268 266 levels. Trading consistently below 265 levels would lead towards the strong support at 259 levels and then finally towards the major support at 245 levels. Resistance is now observed in the range of 281-282 levels. Trading consistently above 283 levels would lead towards the strong resistance at 290 levels, and then finally towards the Major resistance at 304 levels. MCX / NYMEX Natural Gas Trading levels for the week Trend: Up S1- 267.80/ $ 4.305 S2-259.00 / $ 4.175 R1-281.30 / $ 4.488 R2-290.20 / $ 4.622

Weekly Recommendation: Buy MCX Natural Gas December between 268-266, SL-258, Target -281.

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