commodities weekly outlook 14/1/13 to 18/1/13

7/30/2019 Commodities Weekly outlook 14/1/13 to 18/1/13

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Com m odit ies W ee kly Technical Repo rt 14 .01 .2013 to 18 .01 .2013 

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Content  W eekly Techn ical Levels

St ra tegy/Recommendat ions

ngel Com m odities Broking Pvt. Ltd.

egistered Off ice: G-1, Ackrut i Trade Centre , Rd. No. 7 , M IDC, Andher i (E), M um bai - 400 093.

orporate Off ice: 6 th Floor , Ackrut i Star , M IDC, Andher i (E) , M um bai - 400 093. Te l : (022) 2921 2000

CX M emb er ID: 12685 / FMC Regn No: M CX / TCM / CORP / 0037 NCDEX : M ember ID 00220 / FM C Regn No: NCDEX / TCM / CORP / 0302

sclaimer: The informat ion and opin ions contained in t he document have been compi led f ro m sources bel ieved to b e re l iable. The company do es not warrant i ts accuracy, completen ess and

orrectness. The docume nt is not , and should not be construed as an of fer to sel l or sol ici tat ion t o buy any comm odi t ies. This document m ay not be repr oduced, d ist r ibu ted or pu bl ished, in

hole or in part , by any rec ip ient hereof for any purpose wi thout pr ior permiss ion f rom “Angel Commodi t ies Brok ing (P) Ltd”. Your feedback is apprec iated on  

ommodities@angelbroking.com  

Prepared by

Sam son Pasam – Sr. Techni cal Analyst

Samsonp@angelbroking.com (040) 30912222 Extn. 146  

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Com m odit ies W ee kly Technical Repo rt 14 .01 .2013 to 18 .01 .2013 

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M CX GOLD FEBRUARY (CM P – 30 ,789 / $ 1662 .60 )

M CX Gold February as seen in t he w eek ly char t ab ove has opened a t 30 ,694 leve ls in it ia l ly m ade a h igh of 31 ,058 leve ls a

h en fel l sharply low er to w ards 30,700 levels. Late r prices recovered t ow ards 30,795 levels and finally closed low er from t

re viou s w eek s closing leve ls.

or the next week we expect gold prices to find Support at 30,640 – 30,600 levels. Trading consistently below 30,590 leve

would extend the current fa l l in i t ia l ly towards the s trong support a t 30 ,490 leve ls and then f ina l ly towards the maj

upp ort at 3 0,150 levels.

Resistan ce is observed in the ra nge of 30,99 0-31,0 20 levels. Trading consisten tly above 3 1,020 leve ls w ould lead t ow ar

h e stron g resistan ce at 31 ,210 levels, and t hen finally tow ards the M ajor resistan ce at 31 ,540 levels.

M CX / Spot Gold Trading leve ls for the w eek

re n d : Do w n

1 -3 0 ,6 4 0 / $ 1 6 4 4 R1 -3 0 ,9 9 0 / $ 1 6 8 0

2 -3 0 ,4 8 0 / $ 1 6 2 5 R2 -3 1 ,2 1 0 / $ 1 6 9 8

Recom m endat ion: Se l l M CX Gold February betw een 30 ,900-30 ,930 , SL-31 ,061 , Target -30 ,645 / 30 ,500

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Com m odit ies W ee kly Technical Repo rt 14 .01 .2013 to 18 .01 .2013 

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M CX SILVER M ARCH (CM P – 58 ,187 / $ 30 .45)

M CX Si lver M arch as seen in t he w eek ly char t ab ove has opened a t 58 ,200 leve ls in it ia l ly m oved sharp ly low er , but fou

ood support at 57,705 levels. Later prices ral l ied sharply towards 58,730 levels, but could not sustain the gains fel l ba

ow er tow ards 57850 an d finally closed higher from th e previous we eks closing levels.

or the next week we expect Silver prices to find support in the range of 57,680-57,650 levels. Trading consistently belo

7,640 levels would extend the previous weeks fal l init ia l ly towards the strong support at 57,180 levels and then fina

ow ards the m ajor support a t 56 ,200 leve ls.

Resistance is now observed in the range of 58,700-58,780 levels. Trading consistently above 58,800 levels would lea

o w ards the strong resistan ce at 59 ,450 levels, and t hen fina lly tow ards th e m ajor Resistan ce at 60 ,670 levels.

M CX / Spot Si lver Trading leve ls for the w eek

rend: Sideways

1 -5 7 ,6 8 0 / $ 2 9 .8 6 R1 -5 8 ,7 1 0 / $ 3 0 .9 9

2 -5 7 ,1 8 0 / $ 2 9 .2 7 R2 -5 9 ,4 7 0 / $ 3 1 .5 3

Re co m me n d a t ion : N e u t r a l

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Com m odit ies W ee kly Technical Repo rt 14 .01 .2013 to 18 .01 .2013 

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M CX COPPER FEBRUARY (CM P - 445.5 5)

M CX Copp er Februa ry as seen in th e w eekly chart abo ve has open ed at 45 0.80 levels init ia l ly ma de a high of 452.80 leve

nd t hen fe l l sharply low er tow ards 445 levels and f inally closed sharply low er from the p revious w eeks closing levels.

or the next week we expect Copper prices to find support in the range of 442.70-440 levels. Trading consistently belo

39 .80 leve ls would tr igger sharp correct ion in i t ia l ly towards 437 .45 , and then f ina l ly towards the major support a t 4

evels.

Resistan ce is now observed in the ran ge of 447.50 -449 leve ls. Trading consisten tly above 44 9.50 levels w ould lead t ow ar

h e stron g resistan ce at 4 51.3 0 levels and t hen f inally to w ards the m ajor resistan ce at 4 56 levels.

M CX Copper Trading leve ls for the w eek

re n d : Do w n

1 – 442 .70 R1 – 447 .70

2 – 439 .90 R2 – 451 .30

Recom m endat ion: Se l l M CX Copper February betw een 447-448 , SL-451 .60 , Target -442 / 440

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Com m odit ies W ee kly Technical Repo rt 14 .01 .2013 to 18 .01 .2013 

l d i t i

M CX CRUDE JANU ARY (CM P – 5135 / $ 93 .73)

M CX Crude January as seen in the w eek ly char t above has opened a t 5120 leve ls in i t ia lly mo ved low er , but f ound go

esistan ce a t 5092 levels. Late r prices ral l ied sharply t ow ards 5175 levels, bu t could no t sustain the gains fel l back sharp

o w ards 5085 levels and f inally closed m arginally higher from th e previou s w eeks closing levels.

or the next w eek w e expect Crude p rices to find support at 5087 -5080 leve ls. Trading consisten tly below 5080 leve ls w ou

rigger correction initia l ly towards the strong support at 5041 levels and then finally towards the major support at 49

evels.

Resistan ce is now observed in the range of 51 78-51 88 leve ls. Trading consisten tly above 5 190 levels wou ld lead tow ards t

tron g resistan ce at 5224 levels, and t hen f inally tow ards th e M ajor resistan ce at 5 300 leve ls.

M CX / NYM EX Crude Oi l Trading leve ls for the w eek

rend: Sideways

1 - 5 0 8 5 / $ 9 2 .5 0 R1 -5 1 7 8 / $ 9 4 .8 0

2 -5 0 4 1 / $ 9 1 .3 0 R2 -5 2 3 0 / $ 9 5 .9 0

Recom m endat ion: Buy M CX Crude January betw een 5095-5085 , SL-5030 , Target -5178 / 5220 .