Weekly commodity-report by Epic Research 30-01-2012 to 03-02-2012

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Weekly commodity-report by Epic Research 30-01-2012 to 03-02-2012 Powered By Docstoc
					                      Weekly Commodity Report (30Jan-4Feb)



               Commodity Updates

      Gold set for biggest weekly rise since early
       December
      BASE METALS: Comex Copper Pauses After US
       Growth Data
      India Apr-Jan 15 commodity turnover jumps
       to $2.9 trillion
      Oil Increases This Week as Gasoline Surges,
       Greece Nears Debt Agreement
      USGS: US copper production may gain by 0.1
       million tons in 2012
      Global aluminum inventories up in December
       but dip y-o-y
Silver futures down on weak global cues
  www.epicresearch.co +919993959693



                                    Technical Charts
      Mcx Gold




MCX GOLD showed a strong bounce back near to its major support level of 27000 followed by a gap up
opening next day. Now it is very close to its major resistance level of 28000 and is expected to give an upside
breakout.

RESISTANCE: 28160, 28270, 28500

SUPPORT     : 27900, 27750, 27600

TREND       : BULLISH

STRATEGY : BUY ON DIPS




                                                                                www.epicresearch.co +919993959693
www.epicresearch.co +919993959693



   Mcx Silver




 MCX SILVER after giving a break out on daily and weekly charts remained bullish for the last week.
 Now it is trading near its major resistance level of 57000 and is expected to give an upside breakout
 which may take it towards 58500-59000 levels.

 RESISTANCE: 57850, 58500, 59200

 SUPPORT     : 56700, 56000, 55650

 TREND       : BULLISH

 STRATEGY : BUY ON DIPS




                                                                            www.epicresearch.co +919993959693
www.epicresearch.co +919993959693



   Mcx Copper




 MCX COPPER remained volatile for the whole week, ahead of euro zone PMI data and US GDP data. It faced a
 stiff resistance from a trend line on daily chart and a sharp correction was seen from 430 levels.

 RESISTANCE: 427,430,432

 SUPPORT    : 424,422,419

 TREND      : BULLISH, REVERSAL EXPECTED

 STRATEGY : SELL ON HIGHS




                                                                              www.epicresearch.co +919993959693
www.epicresearch.co +919993959693



   Mcx Crude oil




 MCX CRUDEOIL showed sideways movement for the whole week with negative bias. A short term pull back is
 expected after a sharp correction from 5450 levels. A weekly closing below 4900 levels may take it towards
 4700-4650 levels in coming weeks.

 RESISTANCE: 4990, 5040, 5100

 SUPPORT    : 4920, 4850, 4800

 TREND       : BEARISH

 STRATEGY : SELL ON HIGHS




                                                                               www.epicresearch.co +919993959693
www.epicresearch.co +919993959693



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