Commodities Weekly Technical Report

05.11.2012 to 09.11.2012

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

05.11.2012 to 09.11.2012

MCX GOLD DECEMBER (CMP 30,500 / $ 1677.40)

MCX Gold December as seen in the weekly chart above has opened at 31,024 levels initially moved marginally higher, but found very good resistance at 31,159 levels. Later prices fell sharply breaking both the supports towards 30,366 levels and finally closed sharply lower from the previous weeks closing levels. For the next week we expect gold prices to find Support at 30,180 30,150 levels. Trading consistently below 30,140 levels would trigger sharp correction initially towards 30,080 then 29,880 and then finally towards the major support at 29,635 levels. Resistance is observed in the range of 30,670-30,700 levels and then strong Resistance is seen at 30980-31,000 levels. Multiple closing above 31,020 levels would indicate that the current decline has come an end and thereby recovery can be expected initially towards 31,460 levels, and then finally towards the Major resistance at 31,830 levels. MCX / Spot Gold Trading levels for the week (05.11.2012 to 09.11.2012) Trend: Down S1-30,180 / $ 1657 S2-29,880 / $ 1637 R1-30,670 / $ 1692 R2-31,000 / $ 1712

Recommendation: Sell MCX Gold December between 30,670-30,730, SL-31,021, Target -30,200/29,950 OR Buy MCX Gold December between 30,080-30,060, SL-29,870, Target -30,470/30,650

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Commodities Weekly Technical Report

05.11.2012 to 09.11.2012

MCX SILVER DECEMBER (CMP 57,605 / $ 30.85)

MCX Silver December as seen in the weekly chart above has opened at 59,650 levels initially moved sharply higher, but found resistance at 60,333 levels. Later prices fell sharply breaking both the supports towards 57,400 levels, and finally closed sharply lower from the previous weeks closing levels. For the next week we expect Silver prices to find support in the range of 56,620-56,570 levels. Trading consistently below 56,550 levels would trigger sharp correction initially towards the strong support at 55,500 levels and then finally towards the major support at 54,471 levels. Resistance is now observed in the range of 58,450-58,500 levels. Trading consistently above 58,500 levels would lead towards the strong resistance at 58,924 then 59500 levels and then finally towards the major Resistance at 61,400 levels.

MCX / Spot Silver Trading levels for the week (05.11.12 to 09.11.12) Trend: Down S1-56,620 / $ 30.19 S2-55,500 / $ 29.53 R1-58,450 / $ 31.42 R2-59,500 / $ 32.08

Recommendation: Sell MCX Silver December between 58,400-58,500, SL-59,501, Target -56,700/56,200. OR Buy MCX Silver December between 55,650-55,600, SL-54,400, Target -57,500.

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Commodities Weekly Technical Report

05.11.2012 to 09.11.2012

MCX COPPER NOVEMBER (CMP - 417.05)

MCX Copper November as seen in the weekly chart above has opened on its high at 425.35 levels and then fell sharply lower, breaking both the support levels towards 415.65 levels and finally closed sharply lower from the previous weeks closing levels. For the next week we expect Copper prices to find support in the range of 413.35-412.35 levels and further below strong support is seen at 409.70-408.70 levels. Trading consistently below 408 levels would further extend the current decline initially towards 404.35, then 401 and then finally towards the major support at 397.05 levels. Resistance is now observed in the range of 419.30-421.30 levels. Multiple closing above 421.50 levels would indicate that a short term bottom has been posted and thereby new leg up can be expected initially towards 429 levels and then finally towards the major resistance at 436 levels. MCX Copper Trading levels for the week (05.11.2012 to 09.11.2012) Trend: Down S1 413.35 S2 409.65 R1 419.50 R2 423

Recommendation: Sell MCX Copper November between 419-420, SL-423.10, Target -413.40. OR Buy MCX Copper November between 410-409, SL-406, Target -419.

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Commodities Weekly Technical Report

05.11.2012 to 09.11.2012

MCX CRUDE NOVEMBER (CMP 4611 / $ 84.79)

MCX Crude November as seen in the weekly chart above has opened at 4661 levels initially moved marginally higher, but found good resistance at 4712 levels. Later prices fell sharply towards 4601 and finally closed sharply lower from the previous weeks closing levels. For the next week we expect Crude prices to find resistance at 4640-4660 levels. Trading consistently above 4670 levels would lead towards the strong resistance at 4750-4775 levels. Multiple closing above 4780 levels would indicate that the current decline has come to an end and thereby new leg up can be expected initially towards 4911 then 4993 and then finally towards the major resistance at 5034 levels. Support is now observed in the range of 4570-4560 levels. Trading consistently below 4560 levels would lead towards the strong support at 4522-4511 levels and then finally towards the Major resistance at 4448 levels. Multiple closing below 4445 levels would open the door for a major decline initially towards 4275 levels, then 4173 and then finally towards the Major support at 3961 levels. MCX / NYMEX Crude Oil Trading levels for the week (05.11.2012 to 09.11.2012) Trend: Down S1- 4570 / $ 83.80 S2-4522/ $ 82.80 R1-4640/ $ 85.60 R2-4750 / $ 86.60

Recommendation: Sell MCX Crude November between 4640-4660, SL-4701, Target -4530.

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