Commodities Weekly Technical Report

20.08.2012 to 25.08.2012

Content
Weekly Technical Levels Strategy/Recommendations

Prepared by
Samson Pasam Sr. Technical Analyst Samsonp@angelbroking.com (040) 30912222 Extn. 146

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

20.08.2012 to 25.08.2012

MCX GOLD OCTOBER (CMP 30,166 / $ 1615.50)

MCX Gold October as seen in the weekly chart above has opened at 30,073 initially moved sharply higher, but found very good resistance at 30,198 levels. Later prices fell sharply and as expected found support at 29,950 levels, recovered sharply towards 30,189 levels and finally closed higher from the previous weeks closing levels. For the next week we expect gold prices to find Support at 30,080 30,040 levels. Trading consistently below 30,030 levels would trigger sharp correction initially towards 29,950 then 29,860 and then finally towards the major support at 29,475 levels. Resistance is observed in the range of 30,260-30,280 levels. Trading consistently above 30,280 levels would lead towards the strong resistance at 30,360 levels, and then finally towards the Major resistance at 30,478 levels. Multiple closing above 30,480 levels would indicate that a short term bottom has been posted and thereby new leg up can be expected initially towards 30,720 levels, then 30,830 and then finally towards 31,030 levels.

MCX / Spot Gold Trading levels for the week (20.08.2012 to 24.08.2012) Trend: Up S1-30,078 / $ 1610 S2-29,860 / $ 1594 R1-30,260 / $ 1631 R2-30,478 / $ 1647

Recommendation: Buy MCX Gold October between 30,080-30,060, SL-30,000, Target -30,250/30,350

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Commodities Weekly Technical Report

20.08.2012 to 25.08.2012

MCX SILVER SEPTEMBER (CMP 53,621 / $ 28.05)

MCX Silver September as seen in the weekly chart above has opened at 53,582 levels initially moved lower, but found support at 53,309 levels. Later prices rallied sharply towards 53,890 levels, and finally closed higher from the previous weeks closing levels. For the next week we expect Silver prices to find support in the range of 53,330-53,300 levels. Trading consistently below 53,300 levels would lead towards the strong support at 53,050-53,000 levels. Multiple closing below 53,000 levels would confirm that a short term top has been posted in the market and thereby correction can be expected initially towards 52,570 levels, then 52,200 and then finally towards the major support at 51,400 levels. Strong Resistance is now observed in the range of 53,900-54,200 levels. Multiple closing above 54,200 levels would indicate that a short term bottom has been posted and thereby new rally can be expected initially towards 55,050 levels, then 55,800 levels and then finally towards the major Resistance at 56,500 levels. MCX / Spot Silver Trading levels for the week (20.08.12 to 24.08.12) Trend: Sideways S1-53,330 / $ 27.82 S2-53,025 / $ 27.58 R1-53,910 / $ 28.43 R2-54,260 / $ 28.81

Recommendation: Buy MCX Silver September between 53,350-53,300, SL-52,900, Target -54,230

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Commodities Weekly Technical Report

20.08.2012 to 25.08.2012

MCX COPPER AUGUST (CMP - 420.40 / $ 7539)

MCX Copper August as seen in the weekly chart above has opened at 415 levels initially moved lower, but found strong support at 410.65 levels. Later prices rallied sharply towards 420.75 levels and finally closed sharply higher from the previous weeks closing levels. For the next week we expect Copper prices to find support in the range of 417.30-416 levels and further below strong support is seen at 413-412 levels. Trading consistently below 411 levels would trigger sharp correction initially towards 407, then 402 and then finally towards 397 levels. Resistance is now observed in the range of 423.80-425 levels and then strong resistance is seen at 427-429 levels. Daily closing above 430 levels would further extend the current rally initially towards 435 then 441 and then finally towards the major resistance at 447 levels.

MCX / LME Copper Trading levels for the week (20.08.2012 to 24.08.2012) Trend: Up S1 417.30 / $ 7480 S2 413.40/ $ 7410 R1 423.80 / $ 7610 R2 427.40 / $ 7680

Recommendation: Buy MCX Copper Aug between 417.50-416.50, SL-412.90, Target -423.50

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Commodities Weekly Technical Report

20.08.2012 to 25.08.2012

MCX CRUDE AUGUST (CMP 5377 / $ 96.21)

MCX Crude August as seen in the weekly chart above has opened at 5145 levels initially moved marginally lower, but found good support at 5118 levels. Later prices rallied sharply breaking both the resistances towards 5380 and finally closed sharply higher from the previous weeks closing levels. For the next week we expect Crude prices to find support at 5300-5270 levels and further below strong support is seen at 5205-5185 levels. Trading consistently below 5180 levels would give correction initially towards 5140 levels, then 5090 and then finally towards the major support at 5002 levels. Resistance is now observed in the range of 5465-5485 levels. Trading consistently above 5470 levels would further extend the current rally initially towards 5553 levels, and then finally towards the Major resistance at 5600 levels. MCX / NYMEX Crude Oil Trading levels for the week (20.08.2012 to 24.08.2012) Trend: Up S1- 5300 / $ 94.85 S2-5205 / $ 93.40 R1-5465/ $ 97.65 R2-5553 / $ 99.05

Recommendation: Buy MCX Crude August between 5300-5290, SL-5200, Target -5460 OR Sell MCX Crude August between 5460-5470, SL-5565, Target -5300

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