Weekly
Forecast 14 - 18 April 2014
Gold
Oscillator in 4Hr & daily chart is heading
toward oversold zone suggesting retracement will continue. and on weekly chart
it is heading toward overbought zone suggesting strong momentum.
Gold may continue bounce back till 29200 and any
breakout above 29200 can take gold to 29370 and then 29550 levels. Weekly
closing above 29550 will trigger fresh buying.
There is a gap between 28461 and 28620. Gold has
support at 28670 , 28620 and then at 28461-28461.
Gold has not sustained above 28810 level.
Next week sell Gold with SL 28850 TGT 28670, 28620,
28461 ( Watch out for breakdown at 28670 and 28620)
Buy at 28461-28481 SL 28300 for TGT 29200 , 29370 , 29550
Snapshots on “Weekly Forecast and Individual
Pages”
Silver
Oscillator in 4Hr & daily chart is heading
toward oversold zone suggesting retracement will continue. and on weekly chart
it is heading toward overbought zone suggesting strong momentum.
Silver may continue bounce back till 44500. Any
breakout above this can take silver to 44800 and then 45300 levels. Weekly
closing above 45300 will trigger fresh buying.
There is a gap between 42728 and 43043 Silver has
support at 43016 and then at 42970.
Next week sell Silver for TGT 42728 with SL 43418
TGT 43016, 42974, 42728 (
Watch out for breakdown at 43016, 42974)
Next week
Buy at 42728 SL 42400 for TGT 43800, 44570.
Snapshots on “Weekly Forecast and Individual
Pages”
Copper
Copper is trading above all MA on 4 Hr char , on
daily chart it is trading above 15MA but below 45MA and 100MA, on weekly chart
it is trading below all MA.
Oscillator in 4Hr heading toward oversold zone and daily chart & weekly chart it is
heading toward overbought zone.
Watch out for breakout above 411.70 then Copper
may continue bounce back till 414,419. Copper has support at 403 and 401.
For Next week Buy near 403-407 SL 401 for TGT 411,
414, 421.
Any day closing above 411.70 may take
copper to 431 and then 438/ 441 levels. Weekly closing above 411 will trigger
fresh buying.
Snapshots on “Weekly Forecast and Individual
Pages”
Aluminium
Aluminium could not sustain above 112.20 level
which is strong resistance and retaced from that level. It can continue retracement
till 111.70 and breakdown below 111.70 can take metal to 110.70-110.35 which is
next strong support.
Oscillator in 4Hr chart and daily chart is
suggesting retracement towards 111.70-110.70. Oscillator in weekly chart is
showing strong upwards momentum.
Next week buy at 111.70, 110.70-110.35 SL 109 TGT
113.20. 114, 116.90, 121.70
Snapshots on “Weekly Forecast and Individual
Pages”
Snapshots on “Weekly Forecast and Individual
Pages”
Lead
Lead has retraced from 128.80 level, which is 78%
Fibbo level on weekly chart. Lead is still strong above 123 level. Next support
is at 125.50 level and then at 124.30-124.10.
Oscillator on 4 Hr and daily chart are near
support (0 level). Any breakout below 125.50
can take Lead to next support 124.30-124.10.
For next week buy at 124.10 with SL 123 for TGT 128.80, 129.30, 130.30.
Snapshots on “Weekly Forecast and Individual
Pages”
Zinc
Zinc has retraced from 124.3 level, which was
100MA level on daily chart. Zinc is still strong above 119 level. Next support
is at 121.65-121.70 level and then at 120.30-120.50.
Oscillator on 4 Hr and daily chart are near
support (0 level). Any breakout below 121.65
can take Zinc to next support 121.30.
For next week buy on dips from 121.65 to 120.30
with SL 119 for TGT 127 and above.
Snapshots on “Weekly Forecast and Individual
Pages”
Nickel
Nickel is trading in Overbought zone in all
charts. Weekly chart oscillator is showing negative divergence.
Also we can see a gap between 1008-1018 on daily
and 4 Hr chart.
Nickel can retrace till 1008 and then may be
towards next support zone at 986-998.
For next week Sell Nickel with SL above 1060 TGT
1008, 998.
Snapshots on “Weekly Forecast and Individual
Pages”
Crude
Crude is trading above all MA in all charts. It
has support at 6190 and 6100.
Oscillator in 4 Hr chart is off from over sold
zone and heading towards support. On daily and weekly chart it is heading
towards overbought zone.
For next will buy above 6200 with SL 6170 for TGT
6310, 6410 and above.
Watch out for breakout above 6549. Any
day closing above 6549 can take crude to new highs.
Snapshots on “Weekly Forecast and Individual
Pages”
Natural
Gas
Natural gas is could not sustain at 284 level on
a weekly basis. Above 284 next resistance is 289.
Watchout for break out above
284.20, which can take NG to 289.50 level. Any closing above 289.60 can take NG
to next levels at 310, 327.
Weekly oscillator is still showing NG is weak.
But daily oscillator is suggesting technical bounce back may continue.
Oscillator in 4 Hr chart is showing some retracement may continue till 277 and
any break down below 277 next support is 271.
For next week buy at 277, 271, 269, with SL 267
TGT 284, 289, 310, 327.
Snapshots on “Weekly Forecast and Individual
Pages”