CRUDE 13.08.2012 TO 17.08.2012

MCX / NYMEX Crude Oil Trading levels for the week (13.08.2012 to 17.08.2012)

MCX Crude August as seen in the weekly chart above has opened at 5062 levels initially moved lower, but found good support at 5040 levels. Later prices rallied sharply towards 5225 and finally closed higher from the previous weeks closing levels.

For the next week we expect Crude prices to find support at 5047-5030 levels and further below strong support is seen at 4955-4935 levels. Daily closing below 4930 levels would indicate that the current rally has come to end and thereby correction can be expected initially towards 4860 levels, then 4782 and then finally towards the major support at 4732 levels.

Resistance is now observed in the range of 5220-5240 levels. Trading consistently above 5250 levels would renew the previous rally initially towards 5315 levels, then 5370 and then finally towards the Major resistance at 5440 levels.

COPPER 13.08.2012 TO 17.08.2012

MCX / LME Copper Trading levels for the week (13.08.2012 to 17.08.2012)

MCX Copper August as seen in the weekly chart above has opened at 413.05 levels initially moved lower, but found strong support at 411.80 levels. Later prices rallied sharply towards 419.85 levels and finally closed higher from the previous weeks closing levels.

For the next week we expect Copper prices to find support in the range of 411.30-410.80 levels and further below strong support is seen at 407.40-406.40 levels. Trading consistently below 406 levels would trigger sharp correction initially towards 404.25, then 397 and then finally towards 387 levels.

Resistance is now observed in the range of 419.20-420.20 levels and then strong resistance is seen at 423.50-425 levels.

Daily closing above 425 levels would resume the uptrend and thereby new leg up can be expected initially towards 430 then 435 and then finally towards the major resistance at 440 levels.

SILVER 13.08.2012 TO 17.08.2012

MCX / Spot Silver Trading levels for the week (13.08.12 to 17.08.12)

MCX Silver September as seen in the weekly chart above has opened at 53,265 levels initially moved lower, but found support at 53,027 levels. Later prices rallied sharply towards 53,735 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 53,100-53,050 levels. Trading consistently below 53,050 levels would lead towards the strong support at 52,650-52,550 levels. Multiple closing below 52,500 levels would confirm that a short term top has been posted in the market and thereby correction can be expected initially towards 51,344 levels, then 50,850 and then finally towards the major support at 49,960 levels.

Resistance is now observed in the range of 53,810-53,860 levels. Trading consistently above 53,870 levels would lead towards the strong resistance at 54,240 levels and then finally towards the major Resistance at 55,050 levels.

NEAL BHAI 9999974733

GOLD 13.08.2012 TO 17.08.2012

MCX Gold October as seen in the weekly chart above has opened at 29,918 initially moved sharply lower, and as expected found very good support just above the expected level at 29,756 levels. Later prices rallied sharply towards 30,078 levels and finally closed higher from the previous weeks closing levels.

For the next week we expect gold prices to find Support at 29,960 – 29,930 levels and further below strong support is seen at 29,830-29,800 levels. Trading consistently below 29,800 levels would trigger sharp correction initially towards 29,660 then 29,500 and then finally towards the major support at 29,176 levels.

Resistance is observed in the range of 30,150-30,180 levels. Trading consistently above 30,180 levels would lead towards the strong resistance at 30,300 levels, and then finally towards the Major resistance at 30,478 levels.