CRUDE 30.07.2012 TO 03.08.2012

CRUDE OIL  UPDATES :- MCX Crude August as seen in the weekly chart above has opened on its high at 5078 levels and then fell sharply lower breaking both the supports, but finally found support at 4896 levels. Later prices recovered towards 5016 and finally closed sharply lower from the previous weeks closing levels.

For the next week we expect Crude prices to find support at 4950-4930 levels and then strong support is seen at 4875-4855 levels. Multiple closing below 4850 levels would indicate that the current rally has come to end and thereby correction can be expected initially towards 4780 and then finally towards the major support at 4660 levels.

Resistance is now observed in the range of 5086-5096 levels. Trading consistently above 5100 levels would lead towards the strong resistance at 5170 levels and then finally towards the Major resistance at 5270 levels.

COPPER 30.07.2012 TO 03.08.2012

COPPER UPDATES :- MCX Copper August as seen in the weekly chart above has opened at 421.40 levels initially moved lower, but found strong support at 415.55 levels. Later prices rallied sharply towards 422.70 levels and finally closed lower from the previous weeks closing levels.

For the next week we expect Copper prices to find strong support in the range of 418-417 levels. Multiple closing below 417 levels would indicate that a short term top has been posted and thereby major decline can be expected initially towards 412.60, then 409.20 and then finally towards 402.05 levels.

Resistance is now observed in the range of 423.80-424.80 levels and then strong resistance is seen at 427-429 levels. Daily closing above 429 levels would indicate that a short term bottom has been posted and thereby new leg up can be expected initially towards 435 then 441 and then finally towards the major resistance at 446 levels.

SILVER UPDATES 30.07.2012 TO 03.08.2012

SILVER UPDATES :-MCX Silver September as seen in the weekly chart above has opened at 52,805 levels initially moved lower, but found support at 52,502 levels. Later prices rallied sharply towards 53,589 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 53,060-52,960 levels. Trading consistently below 52,950 levels would lead towards the strong support at 52,630 levels. Daily closing below 52,600 levels would indicate that the current uptrend has come to an end and thereby correction can be expected initially towards 52,204 levels and then finally towards the major support at 51,240 levels.

Strong Resistance is now observed in the range of 53,650-53,750 levels. Multiple closing above 53,750 levels would indicate that a short term bottom has been posted and thereby new leg up can be expected initially towards 54,280 then 55,050 and then finally towards the major Resistance at 56,500 levels.

(NEAL BHAI 9999974733)

GOLD UPDATES 30.07.2012 TO 03.08.2012

GOLD UPDATES :- MCX Gold October as seen in the weekly chart above has opened at 29,680 initially moved marginally lower, but found very good support at 29,657. Later prices rallied sharply towards 30,265 levels and finally closed sharply higher from the previous weeks closing levels.



For the next week we expect gold prices to find Support at 30,025 – 29,970 levels and further below strong support is seen at 29,780-29,750 levels. Trading consistently below 29,740 levels would trigger sharp correction initially towards 29,490, then 29,370 and then finally towards the major support at 29,142 levels.



Strong Resistance is observed in the range of 30,430-30,470 levels. Multiple closing above 30,480 levels would further extend the current rally initially towards 30,630 then 30,720 and then finally towards the Major resistance at 31,030 levels.  (NEAL BHAI 9999974733)