GOLD 19.11.2012 TO 23.11.2012

Gold December as seen in the weekly chart above has opened at 31,652 levels initially moved sharply higher, but found very good resistance at 31,937 levels. Later prices fell sharply towards 31,297 levels and finally  closed unchanged from the previous weeks closing levels.

For the next week we expect gold prices to find Support at 31,320 – 31,290 levels and further below strong support is seen at 30985-30955 levels. Trading consistently below 30,940 levels would trigger sharp correction initially towards 30,827 then 30,656 and then finally towards the major support at 30,428 levels.

Resistance is  observed in the range of 31,880-31,930 levels. Trading consistently above 31950 levels would renew the previous week’s rally initially towards 32,095 levels, then 32,265 and then finally towards the Major resistance at 32,526 levels. (NEAL BHAI)

SILVER 19.11.2012 TO 23.11.2012

MCX Silver December as seen in the weekly chart above has opened at 60,900 levels initially moved sharply higher, but found resistance at 61,585 levels. Later prices fell sharply towards 60,335 levels, and finally closed marginally lower from the previous weeks closing levels.

For the next week we expect Silver prices to find support in the range of 60,300-60,250 levels. Trading consistently below 60,230 levels would trigger sharp correction initially towards the strong support at 59,700 levels and then finally towards the major support at 58,271 levels.

Resistance is now observed in the range of 61,240-61,300 levels. Trading consistently above 61,320 levels would renew the previous week’s rally initially towards 61,650 levels, then 61,960 levels and then finally towards the major Resistance at 62,190 levels.  (NEAL BHAI 9999974733)

COPPER 19.11.2012 TO 23.11.2012

MCX Copper November as seen in the weekly chart above has opened at 416 levels initially made a low of 415.40 and then moved sharply higher towards 423.50 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 420-419 levels and then strong support is seen at 417-415 levels. Trading consistently below 415 levels would trigger sharp correction initially towards the strong support at 412.35, and then finally towards the major support at 405.70 levels.

Resistance is now observed in the range of 425-426 levels. Trading consistently above 427 levels would lead towards the strong resistance at 432 levels and then finally towards the major resistance at 435 levels. Multiple closing above 435 levels would open the door for a new leg up initially towards 442 levels, then 445 and then finally towards 449. (NEAL BHAI 9999974733)

CRUDE OIL 19.11.2012 TO 23.11.2012

MCX Crude December as seen in the weekly chart above has opened at 4767 levels initially moved lower, but found good support at 4715 levels. Later prices rallied sharply towards 4854 and finally closed sharply higher from the previous weeks closing levels.

For the next week we expect Crude prices to find support at 4805-4790 levels and then strong support is seen at 4755-4735 levels. Trading consistently below 4730 levels would trigger correction initially towards 4678 then 4632 and then finally towards the major support at 4570 levels.

Resistance is now observed in the range of 4895-4915 levels. Trading consistently above 4925 levels would lead towards the strong resistance at 4950 levels, then 4984 and then finally towards the Major resistance at 5042 levels.   (NEAL BHAI 9999974733)