Commodities Weekly Technical Report

09.09.2013 to 13.09.2013

Content
Weekly Technical Levels Strategy/Recommendations

Prepared by
Samson Pasam Sr. Technical Analyst Samsonp@angelbroking.com (040) 39828632

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

09.09.2013 to 13.09.2013

MCX GOLD OCTOBER (CMP 31,924 / $ 1390.8)

MCX Gold October as seen in the weekly chart above has opened at 32,815 levels initially moved sharply higher, but found very good resistance at 34,549 levels. Later prices fell sharply towards 31,564 levels and finally closed sharply lower from the previous weeks closing levels. For the next week we expect gold prices to find Resistance in the range of 32,650 32,700 levels. Trading consistently above 32,750 levels would lead towards the strong Resistance at 33,750 levels and then finally towards the major Resistance at 35,643 levels. Strong Support is now observed in the range of 30,850-30,750 levels. Multiple closing below 30750 levels or Trading consistently below 30,650 levels would trigger an extended fall initially towards 29,670 levels, and then finally towards the Major support at 28,700 levels.

MCX / Spot Gold Trading levels for the week Trend: Down S1-30,800/ $ 1360 S2-29,670 / $ 1330 R1-32,650 / $ 1418 R2-33,750 / $ 1446

Weekly Recommendation: Sell MCX Gold October between 32,650-32,700, SL-33,250, Target -30,900.

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Commodities Weekly Technical Report

09.09.2013 to 13.09.2013

MCX SILVER DECEMBER (CMP 54,990 / $ 23.82)

MCX Silver December as seen in the weekly chart above has opened the week at 55,188 levels initially moved sharply higher but found very good resistance at 59,598 levels. Later prices fell sharply towards 53,351 levels and finally closed lower from the previous weeks closing levels. For the next week we expect silver prices to find Resistance in the range of 55,900 56,000 levels. Trading consistently above 56,150 levels would lead towards the strong Resistance at 58,490 levels and then finally towards the major Resistance at 62,170 levels. Support is now observed in the range of 52,400-52,300 levels. Trading consistently below 52,200 levels would lead towards the strong support at 49,740 levels, and then finally towards the Major support at 48,427 levels.

MCX / Spot Silver Trading levels for the week

Trend: Down S1-52,400 / $ 23.04 S2-49,740 / $ 22.26 R1-55,950 / $ 24.54 R2-58,490 / $25.26

Weekly Recommendation: Sell MCX Silver December between 55,900-56,000, SL-57,401, Target -52,400.

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Commodities Weekly Technical Report

09.09.2013 to 13.09.2013

MCX COPPER NOVEMBER (CMP 475.40/ $7160)

MCX Copper November as seen in the weekly chart above has opened at 488.50 levels initially moved sharply higher, but has found good resistance at 510.50 levels. Later prices fell sharply towards 473.80 levels and finally closed sharply lower from the previous weeks closing levels. For the next week we expect Copper prices to find Resistance in the range of 486 488 levels. Trading consistently above 490 levels would lead towards the strong Resistance at 499 levels and then finally towards the major Resistance at 523 levels. Support is now observed in the range of 462-461 levels. Trading consistently below 460 levels would lead towards the strong support at 450 levels, and then finally towards the Major support at 439 levels. MCX / LME Copper Trading levels for the week Trend: Down S1 461.50/ $7065 S2 449.50/ $6970 R1 486.30/ $7270 R2 498.50/ $7380

Weekly Recommendation: Sell MCX Copper November between 486-488, SL-500, Target -462.

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Commodities Weekly Technical Report

09.09.2013 to 13.09.2013

MCX CRUDE SEPTEMBER (CMP 7160 / $ 110.23)

MCX Crude September as seen in the weekly chart above has opened the week at 7190 levels initially moved lower, but found very good support at 7015 levels. Later prices rallied sharply towards 7519 levels, but could not sustain the gains fell back lower towards 7080 and finally closed lower from the previous week closing levels. For the next week we expect Crude prices to find Resistance in the range of 7235 7255 levels. Trading consistently above 7270 levels would lead towards the strong Resistance at 7460 levels and then finally towards the major Resistance at 7740 levels. Support is now observed in the range of 6960-6940 levels. Trading consistently below 6920 levels would lead towards the strong support at 6730 levels, and then finally towards the Major support at 6635 levels. MCX / NYMEX Crude Oil Trading levels for the week Trend: Sideways S1- 6960/ $ 104.80 S2-6730 / $ 101.80 R1-7240 / $ 108.50 R2-7460 / $ 111.50

Weekly Recommendation: Sell MCX Crude September between 7230-7260, SL-7371, Target -6960. OR Buy MCX Crude September between 6960-6940, SL-6820, Target -7230

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Commodities Weekly Technical Report

09.09.2013 to 13.09.2013

MCX NATURAL GAS SEPTEMBER (CMP 229.40 / $ 3.533)

MCX Natural Gas September as seen in the weekly chart above has opened the week at 240.90 levels initially moved sharply higher, but found very good resistance at 257.10 levels. Later prices fell sharply towards 229.10 levels and finally closed sharply lower from the previous week closing levels. For the next week we expect Natural Gas prices to find Resistance in the range of 238 240 levels. Trading consistently above 241 levels would lead towards the strong Resistance at 248 levels and then finally towards the major Resistance at 266 levels. Support is now observed in the range of 221-219 levels. Trading consistently below 218 levels would lead towards the strong support at 211 levels, and then finally towards the Major support at 206 levels. MCX / NYMEX Natural Gas Trading levels for the week Trend: Down S1- 220.50/ $ 3.460 S2-210.50 / $ 3.385 R1-238.50 / $ 3.588 R2-248.50 / $ 3.660

Weekly Recommendation: Sell MCX Natural Gas September between 238-240, SL-250, Target -221.

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