Weekly Commodity Update Metals & Energy 13th OCT 2014 Geojit Comtrade Ltd. CONTENTS • Currency – Dollar Index, USD INR • Precious Metals – Gold, Silver • Energy – Crude Oil, Natural Gas • Base Metals – Copper, Nickel, Lead, Zinc, Aluminum DOLLAR INDEX On the Daily chart of DX, prices have breached the crucial support of 86.20 levels. RSI is in a sell mode and prices are trading close to the short term averages. We expect prices to correct up to levels of 86.50 which is the previous bottom. Resistance on the upside is at 86.40 levels. USD INR (Spot) On the Daily chart of USD/INR, prices have breached the crucial support of 61.40 levels. Daily RSI is in a sell mode and prices are trading below the short term averages. We expect prices to correct up to levels of 60.80 which is the previous bottom. Resistance on the upside is at 61.50 levels. COMEX GOLD (Spot) On the Daily chart prices have reversed after taking support of $1182 levels. Daily RSI is in a buy mode and prices are trading above the short term averages. We expect prices to go up to levels of $1260 which is the previous top. Support on the downside is at $1210 levels. MCX GOLD DEC On the daily chart, prices have reversed after taking support of 26500 level. Daily RSI is in a buy mode and prices are trading above the short term averages. We recommend a buy around 27000 levels with a stop loss placed below 26500 levels for targets of 27700 levels. COMEX SILVER (Spot) On the Daily chart prices have reversed after taking support of $16.80 levels. Daily RSI is in a buy mode and prices are trading above the short term averages. We expect prices to go up to levels of $18.60 which is the previous top. Support on the downside is at $17 levels. MCX SILVER DEC On the daily chart, prices have reversed after taking support of 37500 level. Daily RSI is in a buy mode and prices are trading above the short term averages. We recommend a buy around 38800 levels with a stop loss placed below 38000 levels for targets of 41000 levels. MCX CRUDE OIL OCT On the daily chart, prices have breached the crucial support of 5300 level. Daily RSI is in a sell mode and prices are trading below the short term averages. We recommend a sell around 5250 levels with a stop loss placed above 5350 levels for targets of 5000 levels. MCX NATURAL GAS OCT On the daily chart, prices are trading near the crucial support of 235 level. Daily RSI is building strength and prices are trading below the short term averages. We recommend a buy around 234 levels with a stop loss placed below 228 levels for targets of 245 levels. MCX COPPER NOV On the Daily chart, prices have reversed after taking support of 408 levels. Daily RSI is in a buy mode and prices are trading below the short term averages. We recommend a buy around 412 levels with a stop loss placed below 408 levels for target of 422 levels. MCX NICKEL OCT On the Daily chart, prices have reversed after taking support of 1000 levels. Daily RSI is in a buy mode and prices are trading below the short term averages. We recommend a buy around 1010 levels with a stop loss placed below 988 levels for target of 1060 levels. MCX LEAD OCT On the Daily chart, prices have reversed after taking support of 125 levels. Daily RSI is building strength and prices are trading below the short term averages. We recommend a buy around 126 levels with a stop loss placed below 124 levels for target of 130 levels. MCX ZINC OCT On the Daily chart, prices have reversed after taking support of 141 levels. Daily RSI is in a buy mode and prices are trading above the short term averages. We recommend a buy around 142 levels with a stop loss placed below 140 levels for target of 146 levels. MCX ALUMINIUM OCT On the Daily chart, prices have reversed after taking support of 116 levels. Daily RSI is in a buy mode and prices are trading close to the short term averages. We recommend a buy around 117 levels with a stop loss placed below 115 levels for target of 121 levels. THANK YOU Research Department - Institutional Desk Nitin Nachnani [email protected] Contact:022- 61312127 805, Dev Plaza, Opp. Irla Fire Brigade, S.V. Road, Andheri West, Mumbai - 400058. Disclaimer: The information contained here was gathered from sources deemed reliable; however, no claim is made as to accuracy or content. This does not contain specific recommendations to buy or sell at particular prices or time, nor should any examples presented be deemed as such. There is a risk of loss in commodity trading and commodity options and you should carefully consider your financial position before making a trade. This is not, nor is it intended, to be a complete study of chart patterns or technical analysis and should not be deemed as such. Geojit Comtrade Ltd. does not guarantee that such information is accurate or complete and it should not be relied upon as such. Any opinions expressed reflect judgements at this date and are subject to change without notice. For use at the sole discretion of the investor without any liability on Geojit Comtrade Ltd.
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