Commodities Weekly Technical Report

29.10.2012 to 03.11.2012

Content
Weekly Technical Levels Strategy/Recommendations

Prepared by
Dhanik Shah Sr. Technical Analyst Dhanik.Shah@angelbroking.com (022) 29212000 Ext. 6129

Angel Commodities Broking Pvt. Ltd. Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093. Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 2921 2000 MCX Member ID: 12685 / FMC Regn No: MCX / TCM / CORP / 0037 NCDEX : Member ID 00220 / FMC Regn No: NCDEX / TCM / CORP / 0302

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Commodities Weekly Technical Report

29.10.2012 to 03.11.2012

MCX GOLD DECEMBER (CMP 31022 / $ 1710.30)

MCX Gold December as seen in the weekly chart above has opened at 31252 levels and fell sharply for 3 days making a low of 30827, took support at that level and recovered in last 2 sessions and closed the at 31021, ie 267 points lower to previous weeks close For the next week we expect gold prices to find Support at 30820 levels and further below strong support is seen at 30500 levels. Trading consistently below 30500 levels would trigger sharp correction initially towards 30,300 and then finally towards the major support at 30,010 levels. Resistance is observed in the range of 31250-31280 levels. Trading consistently above 31280 levels would lead towards strong resistance at 31550-31600 and then finally at Major resistance level at 31900 MCX / Spot Gold Trading levels for the week Trend: Down S1-30815 / $ 1698 S2-30640 / $ 1689 R1- 31240 / $ 1723 R2-31460 / $ 1735

Recommendation: Buy MCX GOLD Dec between 30860-30910, SL - 30650, Target - 31220 / 31250

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Commodities Weekly Technical Report

29.10.2012 to 03.11.2012

MCX SILVER DECEMBER (CMP 59703 / $ 32.05)

MCX Silver December as seen in the weekly chart above has opened at 59840, moved sharply lower finding support at 58841, rallied sharply making a high 60066 where is faced resistance and moved lower during last 3 sessions closing at 59703, below the Open and marginally lower than previous weeks close For the next week we expect Silver prices to find Support at 58840 levels and further below strong support seen at 58000 levels. Trading consistently below 58000 levels would trigger sharp correction initially towards 57400 and then finally towards the major support at 56600 levels. Resistance is observed at 60650 levels. Trading consistently above 60650 levels would lead towards strong resistance at 61250 and then finally at Major resistance level at 62400

MCX / Spot Silver Trading levels for the week Trend: Down S1-58840 / $ 31.5 S2- 58000 / $ 31.1 R1-60650 / $ 32.60 R2-61250 / $ 32.90

Recommendation: Buy MCX SILVER Dec between 59100-59200, SL - 58400, Target - 60200 / 60300

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Commodities Weekly Technical Report

29.10.2012 to 03.11.2012

MCX COPPER NOVEMBER (CMP 425.95 / $ 7770)

MCX Copper November as seen in the weekly chart opened 434.35, immediately made a high of 434.80 faced strong resistance with sellers pushing the price sharply lower throughout the week making a low of 421.30. Copper found good support at 421.30 where buyers pushed prices back on the last 2 sessions of the week closing the week at 425.95, quite lower than previous week. For the next week we expect Copper prices to find support between 418-420. Trading consistently below 418 levels would trigger sharp correction initially towards the strong support at 408 levels and then finally towards the major support at 397. Resistance is now observed in the range of 435-436 levels. Trading consistently above 436 would lead towards strong Resistance at 442 levels and then 446 and finally towards major resistance at 456.

MCX / LME Copper Trading levels for the week Trend: Down S1 418 / $ 7620 S2 408/ $ 7440 R1 435 / $ 7935 R2 442 / $ 8065

Recommendation: Buy MCX COPPER Nov between 423-425, SL - 416, Target - 434 / 436

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Commodities Weekly Technical Report

29.10.2012 to 03.11.2012

MCX CRUDE NOVEMBER (CMP 4669 / $ 86.24)

MCX Crude October as seen in the weekly chart above has opened at 4899, immediately made a high of 4907, faced strong resistance with sellers emerging driving the prices to 4610 where it found support recovering lost grounds on last 2 trading sessions, however closed the week at 4669, significantly lower than open and also to previous weeks close For the next week we expect Crude prices to find support at 4539 levels. Trading consistently below 4539 would further extend the current decline towards the strong support at 4440. Major support is now seen at 4075 Resistance is now observed 4900 levels. Trading consistently above 4900 would lead towards strong resistance at 5000. Major resistance is now seen at 5350 MCX / NYMEX Crude Oil Trading levels for the week Trend: Down S1- 4539 / $ 83.80 S2- 4440/ $ 82 R1- 4900/ $ 90.50 R2- 5000 / $ 92.40

Recommendation: Buy MCX CRUDE Oil Nov between 4620-4650, SL - 4539, Target - 4770 / 4795 OR Sell MCX CRUDE Oil Nov between 4760-4800, SL - 4902, Target - 4601 / 4575

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