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WEEKLY COMMODITY REPORT BY EPIC RESEARCH 02 APRIL 2012

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WEEKLY COMMODITY REPORT BY EPIC RESEARCH 02 APRIL 2012 Powered By Docstoc
					                      Weekly Commodity Report (02-07Apr)



Commodity Updates

  Russia central bank sells Gold reserves worth
   $200 mn for first time in 5 yrs
  China wastes 1500Kg of Gold, 30000Kg Silver
   every year
  UBS cuts 2012 Gold forecast by 18%
  Chinese Copper imports could fall by 23% for
   the rest of 2012
  LME Copper prices remain negative trend
   Diesel demand growth highest among oil
    products in China
Silver futures down on weak global cues
  Saudi Arabia's economic growth is making
   domestic oil demand soar
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     Technical Charts
     Mcx Gold




MCX GOLD went into a deep consolidation mode in the range of 27800 to 28000. On comex it is very volatile
although trading below its 200 DMA but due to rupee depreciation it is trading on higher levels in MCX.

RESISTANCE: 28230, 28420, 28650

SUPPORT: 27950, 27750, 27470

TREND: SIDEWAYS

STRATEGY: BUY ON DIPS




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



   Mcx Silver




 MCX SILVER remained volatile for the whole week with a downward bias. On daily chart if it is able to
 break a trend line than we say see the levels of 59500 in the short term.

 RESISTANCE: 57220, 57930, 58150

 SUPPORT     : 56400, 55900, 55550

 TREND       : DOWN

 STRATEGY : SELL ON HIGHS




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



   Mcx Copper




 MCX COPPER showed some correction from the higher levels as expected. However the trend is still Bullish and
 new buying positions can be seen from the current levels.

 RESISTANCE: 435.80, 438.20,442

 SUPPORT    : 428.50, 425,421

 TREND      : SIDEWAYS

 STRATEGY: BUY ON DIPS




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



   Mcx Crude oil




 MCX CRUDEOIL took a stiff correction from the higher levels and now trading below its 34 DMA. 5230 is an
 immediate support for the MCX CRUDEOIL ,and if manages to break this level than further downside movements
 can be seen.

 RESISTANCE: 5528, 5580, 5650

 SUPPORT    : 5400, 5340, 5270

 TREND      : BILLISH

 STRATEGY : BUY ON DIPS




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



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