Weekly
Forecast 21 - 25 April 2014
Snapshots available
on "Weekly Forecast" and Individual pages
Please note that below
forecast is based on the closing basis and technical indicators at the closing
time. Market situations may change depending on what level it opens. You are
advised to consult your financial adviser or us before taking any positions.
Gold
Oscillator in daily chart is in oversold zone and
on weekly chart is is heading towards zero level, suggesting retracement will
continue.
Here Strong resistance is at 29000 and support at
28500 and then strong support at 27861. Most likely we may see breakdown below 27861.
Please be careful while trading and maintain
strict Stoploss.
Above 28500 with SL 28450 keep buy on dips and
watch out for breakout above 29000 on daily closing basis for TGT 29200, 29600.
Or
Sell near 28856 with SL 29000 and watch for
breakdown below 27861 on daily closing basis for TGT 27167, 26900 on daily closing basis.
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Silver
Oscillator in daily chart is heading toward
oversold zone suggesting retracement will continue. and on weekly chart it is
heading toward overbought zone.
Below 43000 Silver remains sell on rise. Next
targets will be 41000 and then 39000. Silver may slip down till 35000 and below
levels in next month.
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Copper
Copper oscillators are showing negative
divergence . Copper has strong resistance at 411.70 level. If we don’t get a
closing on daily basis above this next week then we may see copper slip
down to new low levels 380, 360.
For next week sell copper on rise till 411 with STRICT SL above 412.50 for TGT
393. Any closing on daily basis below 390 will see Copper heading towards new
low levels.
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Aluminium
Again Aluminium could not sustain above 112.20
level which is strong resistance and retaced from that level. Oscillator in 4Hr
chart and daily chart is suggesting retracement towards 108.50 to 107.60.
Oscillator in weekly chart is showing strong downwards momentum.
Next week sell Aluminium with SL 113 for TGT
108.50, 107.60
Any day closing below 107.60 will trigger fresh
selling.
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Lead
Lead Oscillators are showing negative divergence.
It is trading near strong resistance at 129.20. Next resistance is at 131.
Below 131 keep sell on rise strategy with SL
131.50 for TGT 127.65 and may be it will slip down till 125 level and below.
Any day closing
above 131 may take lead to 134 level.
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Zinc
Zinc is trading near strong resistance at 124.80
and has next strong resistance at 125.45.
Daily oscillator is also showing negative
divergence.
Below 125 keep sell on rise view for next week
with SL 125 for TGT 122, 121, 117.50.
Any day closing
above 125.50 level can only trigger frsh buying.
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Nickel
Nickel is near strong resistance at 1090.
Oscillators are showing negative divergence.
Most likely now Nickel will show reversal.
Next week keep selling SL 1093 for TGT 1052, 1001
and below.
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Crude
Crude is trading above all MA in all charts. It
has support at 6190. Oscillator is showing positive divergence.
For next will buy above 6200 with SL 6170 for TGT
6415, 6540, 6715.
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Natural
Gas
Natural gas is again trading above all MA and oscillator
moving towards overbought zone. It has support at 279 and 278. Keep buy on dips
view above this level.
Watch out for breakout above 290.50 level. For
next week we may see 317 level soon.
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