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Commodities Weekly Technical Report

16.09.2013 to 20.09.2013

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

Disclaimer: The information and opinions contained in the document have been compiled from sources believed to be reliable. The company does not warrant its accuracy, completeness and correctness. The document is not, and should not be construed as an offer to sell or solicitation to buy any commodities. This document may not be reproduced, distributed or published, in whole or in part, by any recipient hereof for any purpose without prior permission from “Angel Commodities Broking (P) Ltd”. Your feedback is appreciated on commodities@angelbroking.com

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Commodities Weekly Technical Report
16.09.2013 to 20.09.2013

MCX GOLD OCTOBER (CMP – 30,060 / $ 1327.10)

MCX Gold October as seen in the weekly chart above has opened at 31,802 levels initially made a high of 31,967 levels and then fell sharply lower throughout the week, breaking both the supports, but finally made a low of 29,501 levels and closed sharply lower from the previous weeks closing levels. For the next week we expect gold prices to find Resistance in the range of 30,500 – 30,600 levels. Trading consistently above 30,700 levels would lead towards the strong Resistance at 31,500 levels and then finally towards the major Resistance at 32,970 levels. Strong Support is now observed in the range of 29,100-29,000 levels. Multiple closing below 29000 levels or Trading consistently below 28,900 levels would trigger an extended fall initially towards 28,050 levels, and then finally towards the Major support at 27,342 levels.

MCX / Spot Gold Trading levels for the week Trend: Down S1-29,050/ $ 1290 S2-28,050 / $ 1253 R1-30,510 / $ 1350 R2-31,510 / $ 1380

Weekly Recommendation: Sell MCX Gold October between 30,500-30,600, SL-31,501, Target -29,100.

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Commodities Weekly Technical Report
16.09.2013 to 20.09.2013

MCX SILVER DECEMBER (CMP – 50,510 / $ 22.20)

MCX Silver December as seen in the weekly chart above has opened the week at 54,507 levels initially moved marginally higher, but found very good resistance at 54,787 levels. Later prices fell sharply breaking both the supports towards 49,160 levels and finally closed sharply lower from the previous weeks closing levels. For the next week we expect silver prices to find Resistance in the range of 51,500 – 51,600 levels. Trading consistently above 51,700 levels would lead towards the strong Resistance at 53,800 levels and then finally towards the major Resistance at 56,740 levels. Support is now observed in the range of 48,250-48,150 levels. Trading consistently below 48,050 levels would lead towards the strong support at 45,900 levels, and then finally towards the Major support at 44,600 levels.

MCX / Spot Silver Trading levels for the week

Trend: Down S1-48,200 / $ 21.02 S2-45,900 / $ 19.82 R1-51,500 / $ 22.50 R2-53,800 / $23.65

Weekly Recommendation: Sell MCX Silver December between 51,450-51,550, SL-52,501, Target -48,300.

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Commodities Weekly Technical Report
16.09.2013 to 20.09.2013

MCX COPPER NOVEMBER (CMP – 459.90/ $7064)

MCX Copper November as seen in the weekly chart above has opened at 476.90 levels initially moved sharply higher, but has found good resistance at 482.30 levels. Later prices fell sharply towards 454.35 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 465 –467 levels. Trading consistently above 468 levels would lead towards the strong Resistance at 476 levels and then finally towards the major Resistance at 493 levels. Support is now observed in the range of 449-447 levels. Trading consistently below 446 levels would lead towards the strong support at 437 levels, and then finally towards the Major support at 431 levels. MCX / LME Copper Trading levels for the week Trend: Down S1 – 448.50/ $6975 S2 – 437.50/ $6870 R1 – 465.50/ $7120 R2 – 476.50/ $7200

Weekly Recommendation: Sell MCX Copper November between 465-467, SL-477.10, Target -449.

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Commodities Weekly Technical Report
16.09.2013 to 20.09.2013

MCX CRUDE SEPTEMBER (CMP – 6923 / $ 108.60)

MCX Crude September as seen in the weekly chart above has opened the week at 7160 levels initially made a high of 7199 levels and then fell sharply lower, but found very good support at 6778 levels. Later prices recovered sharply towards 6987 levels, but could not sustain the gains fell back lower towards 6804 and finally closed sharply lower from the previous week closing levels. For the next week we expect Crude prices to find Resistance in the range of 6960 –6970 levels. Trading consistently above 6990 levels would lead towards the strong Resistance at 7155 levels and then finally towards the major Resistance at 7360 levels. Support is now observed in the range of 6740-6720 levels. Trading consistently below 6700 levels would lead towards the strong support at 6545 levels, and then finally towards the Major support at 6435 levels. MCX / NYMEX Crude Oil Trading levels for the week Trend: Sideways S1- 6735/ $ 106.40 S2-6545 / $ 104.30 R1-6965 / $ 110.50 R2-7155 / $ 112.50

Weekly Recommendation: Sell MCX Crude September between 7020-7040, SL-7201, Target -6750.

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Commodities Weekly Technical Report
16.09.2013 to 20.09.2013

MCX NATURAL GAS SEPTEMBER (CMP – 235.20 / $ 3.676)

MCX Natural Gas September as seen in the weekly chart above has opened the week at 230.40 levels initially moved higher, but found very good resistance at 235.30 levels. Later prices fell sharply towards 224.70 levels and finally closed higher from the previous week closing levels. For the next week we expect Natural Gas prices to find support in the range of 232 –231 levels. Trading consistently below 229 levels would lead towards the strong support at 225 levels and then finally towards the major support at 220 levels. Resistance is now observed in the range of 239-240 levels. Trading consistently above 241 levels would lead towards the strong resistance at 243 levels, and then finally towards the Major resistance at 248 levels. MCX / NYMEX Natural Gas Trading levels for the week Trend: Up S1- 231.80/ $ 3.630 S2-225.10 / $ 3.570 R1-239 / $ 3.735 R2-243 / $ 3.795

Weekly Recommendation: Buy MCX Natural Gas September between 232-230, SL-227, Target -242/249.

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