CRUDE OIL:- Weekly Technical Report 02.07.2012 TO 06.07.2012

MCX Crude July as seen in the weekly chart above has opened at 4595 levels initially moved sharply lower and as expected found good support at 4448 levels. Later prices rallied sharply towards 4712 levels and finally closed higher from the previous weeks closing levels.

For the next week we expect Crude prices to find support at 4620-4600 levels. Trading consistently below 4600 levels would lead towards the strong support at 4438 levels. Multiple closing below 4438 levels would indicate that a short term top has been posted and thereby new leg down can be expected initially towards 4315 and then finally towards the major support at 4250 levels.

Resistance is now observed at 4880-4900 levels. Trading consistently above 4900 levels would extend the current rally initially towards 5045 levels, and then finally towards the Major resistance at 5170 levels.

COPPER:- Weekly Technical Report 02.07.2012 TO 06.07.2012

MCX Copper August as seen in the weekly chart above has opened at 422 levels initially moved sharply lower, but found support at 418 levels. Later prices rallied sharply towards 431.80 levels and finally closed sharply higher from the previous weeks closing levels.

For the next week we expect Copper prices to find support at 426.60-425.60 levels. Trading consistently below 425 would lead towards the strong support at 421 levels. Daily closing below 421 levels would indicate that the current rally has come an end and thereby major decline can be expected initially towards 417 and then finally towards 411 levels.

Resistance is now observed in the range of 434-435 levels. Trading consistently above 435 levels would lead towards the strong resistance at 440 levels. Daily closing above 440 levels would indicate that a short term bottom has been posted and thereby new leg up can be expected initially towards 446 and then finally towards the major resistance at 451 levels.

SILVER:- Weekly Technical Report 02.07.2012 TO 06.07.2012

MCX Silver September as seen in the weekly chart above has opened at 54,002 levels initially moved sharply higher, but found resistance at 55,169 levels. Later prices fell sharply towards 53,000 levels and finally closed sharply lower from the previous weeks closing levels.

For the next week we expect Silver prices to find support in the range of 52,650-52,550 levels. Trading consistently below 52500 levels would trigger a sharp correction initially towards 51,242 levels and then finally towards the major support at 50,730 levels.

Resistance is now observed in the range of 54,750-54,800 levels. Trading consistently above 54,800 levels would lead towards the strong resistance at 55,824 levels and then finally towards the major Resistance at 56,500 levels.

GOLD:- Weekly Technical Report 02.07.2012 TO 06.07.2012

MCX Gold August as seen in the weekly chart above has opened at 29,920 initially moved sharply higher, but found good


resistance at 30,180 levels. Later prices fell sharply towards 29,457 levels and finally closed lower from the previous weeks

closing levels.

For the next week we expect gold prices to find Support at 29,530 – 29,480 levels and further below strong support is seen

at 29,220-29,190 levels. Trading consistently below 29,180 levels would trigger sharp correction initially towards 29,067 and

then finally towards the major support at 28,794 levels.

Resistance is now seen at 29,980-30,020 levels. Trading consistently above 30,030 levels would lead towards the strong

resistance at 30,320 levels. Daily closing above 30,320 levels would indicate that a short term bottom has been posted and

thereby new leg up can be expected initially towards 30,665 and then finally towards the Major resistance at 31,310 levels.