COPPER 04.06.2012 TO 08.06.2012

MCX Copper June as seen in the weekly chart above has initially moved sharply higher, but found very good resistance at


430.85 levels. Later prices fell sharply breaking both the support levels towards 406.85 levels and finally closed sharply

lower.

For the next week we expect Copper prices to find initial resistance at 413.50-415.50 levels. Trading consistently above 416

would trigger a minor rally initially towards 423 levels and then finally towards 427 levels.

Strong support is now observed in the range of 402.50-402 levels. Trading consistently below 402 levels would continue the

current fall initially towards 399.70 levels then 395.30 and then finally towards the major support at 391.30 levels.

MCX / LME Copper Trading levels for the week (04.06.2012 to 08.06.2012)

Trend: Sideways

S1 – 399.70 / $ 7170 R1 – 415.30 / $ 7470

S2 – 391.30/ $ 7005 R2 – 423.70 / $ 7635

Recommendation: Sell MCX Copper June between 413-415, SL-421, Target -405/402

OR Buy MCX Copper June between 403-402, SL-397, Target -413

SILVER Weekly Report 04.06.2012 to 08.06.2012

Commodities Weekly Technical Report


04.06.2012 to 08.06.2012
 
MCX Silver July as seen in the weekly chart above has opened at 54,533 levels, initially made a high of 54,885 levels and


then fell sharply lower, but found very good support at 52813 levels. Later prices rallied sharply towards 54,682 levels and

finally closed higher from the previous weeks closing levels.

For the next week we expect Silver prices to find support at 54,100-54,000 levels. Trading consistently below 54,000 levels

would lead towards the Strong Support at 53,300-53,200 levels. Multiple closing below 53,200 levels would indicate that a

short term top has been posted and thereby would open the door for a new leg down initially towards 52,300 and then

finally towards 51,300 levels.

Resistance is now observed at 55,300-55,400 levels. Trading consistently above 55,400 levels would further extend the

current rally initially towards 56,140 levels and then finally towards 57,800 levels.

MCX / Spot Silver Trading levels for the week (04.06.12 to 08.06.12)

Trend: Up

S1-54,100 / $ 28.14 R1-55,300 / $ 29.10

S2-53,200 / $ 27.45 R2-56,140 / $ 29.74

Recommendation: Buy MCX Silver July between 54100-54000, SL-53190, Target -55400/56050

GOLD Weekly Report 04.06.2012 to 08.06.2012

Commodities Weekly Report 04.06.2012 to 08.06.2012

MCX Gold August as seen in the weekly chart above has initially moved sharply lower, but found good support at 29020


levels. Later prices rallied sharply made a new record high of 30156 and finally closed sharply higher from the previous

weeks closing levels.

For the next week we expect gold prices to find Support at 29,680 – 28,620 levels and further below strong support is seen

at 29,200-29,150 levels. Trading consistently below 29,150 levels would trigger sharp correction initially towards 28570 and

then finally towards the major support at 28278 levels.

Resistance is now seen at 30520-30560 levels. Trading consistently above 30570 levels would further extend the current

rally initially towards 30690 and then finally towards 31060 levels.

MCX / Spot Gold Trading levels for the week (04.06.2012 to 08.06.2012)

Trend: Up

S1-29,680 / $ 1595 R1-30,520 / $ 1660

S2-29,200 / $ 1560 R2-31,060 / $ 1694

Recommendation: Buy MCX Gold August between 29,700-29650, SL-29300, Target -30500/31000.

COPPER 01.06.2012:- Copper sank on Thursday to its lowest price of 2012,


slammed by a surging dollar, slower demand outlook

and investor flight from risk after a raft of soft U.S.

data compounded an already-fragile growth outlook

linked to Europe's worsening debt and political crisis.

• Copper fell 11 percent in May.

• Prices of the red metal fell along with the euro, which

fell to a 23-month low against the dollar on concerns

about Spain and its troubled banking sector and

uncertainty in front of Friday's U.S. employment

report for May.

• But the pace of selling in copper slowed and prices

recovered a portion of their earlier losses after a Wall

Street Journal story said the European department

of the International Monetary Fund (IMF) has started

discussing contingency plans for a rescue loan to

Spain.

• Investors shunned risk after a batch of disappointing

U.S. data, including weekly jobless claims,

manufacturing in the U.S. Midwest, and a lower

revision to overall economic growth pointed to a

slowdown in the recovery. (NEAL BHAI 9999974733)

NATURAL GAS 01.06.2012

Intraday Strategy: Sell MCX Natural Gas June below 139.50, SL-


141.10, Target -138.70/136
 
NEAL BHAI 9999974733

GOLD CALL:- 01.06.2012

Intraday Strategy: Sell MCX Gold Aug between 29430-29460, SL-


29532, Target -29320
 
NEAL BHAI 9999974733

GOLD UPDATES 01.06.2012 (NEAL 9999974733)

LONDON: Gold slid into negative territory on Thursday, hitting a session low at $1,533.99 an ounce as the metal was caught up in broad-based selling of commodities after reports pointing to stalling US economic growth weighed on equities and oil prices.


Spot gold was down 0.3 per cent at $1,556.70 an ounce at 1407 GMT, having earlier risen as high as $1,572.30 an ounce. The metal is on track for its worst May performance in 30 years, down more than 6 per cent.

NEAL BHAI =9999974733