Weekly
Forecast 7 - 11 April 2014
Silver
Silver is trading below all Moving Averages in
all charts. Oscillator is showing mixed indication. Oscillator on 4 Hr chart
has come down from overbought zone , on daily chart it is heading towards
oversold zone and on weekly chart it is heading towards zero level (below Zero
level)
Overall Silver is weak but showing signs of
technical bounce back. Abover 42000 keep buy on dips strategy for TGT 44800,
45000, 45500…Below 46000 keep sell on rise strategy and watch out for a
breakout below 42400 level for TGT 41300 level.
For Next week Buying SL 42400 for TGT 43400,
44500, 45500.
Snapshots on “Weekly Forecast and Individual
Pages”
Copper
Copper is trading below all Moving averages in
all charts. Oscillator in all charts is heading towards oversold zones.
Copper look very weak on all charts after the
move on Friday. It tried to break 408 but returned from 408.85 level. Next
strong resistace is at 410 level. Below 411 Keep sell on rise view for TGT 394,
392. 390 is strong support. Keep buy on dips view above 390.
Watchout breakdown below 392 may lead towards 380
and breakout at 410 may lead towards 414 and then 422.50.
All are adviced to take positions at near support
or resistance with small SL.
For next week Sell near 403 SL 410 TGT 394, 392.
Buy at 392 SL 389 TGT 400, 404.
Snapshots on “Weekly Forecast and Individual
Pages”
Aluminium
Aluminium is trading near 45 MA on weekly chart.
It has broken 109 buy could not sustain above it on weekly basis. Daily chart
is showing it will retrace till 106
level. Weekly chart Oscillator is showing Aluminium is still strong and our TGT
114, 121 is still intact.
For next week keep buy on dips till 104 levels
with SL 103 for TGT 114, 121.
Snapshots on “Weekly Forecast and Individual
Pages”
Lead
Lead could not sustain 124 breakout level on
weekly basis. It is still strong above 122 level. On daily chart we can expect
retracement will continue till 122 level. Lead is trading above 45 MA on weekly
chart. Oscillator on weekly chart is suggesting strong moment and daily chart
is suggesting retracement.
Still our TGT for long positions is intact for
TGT 125, 127.
For next week keep buy on dips strategy till 122
with SL 121 for TGT 125, 127.
Snapshots on “Weekly Forecast and Individual
Pages”
Zinc
Zinc could not sustain 121 breakout level on
weekly basis. It is still strong above 117 level. On daily chart we can expect
retracement will continue till 119-119.50 level. Zinc is trading above 45 MA on
weekly chart. Oscillator on weekly chart is suggesting strong moment and daily
chart is suggesting retracement.
Still our TGT for long positions is intact for
TGT 122, 123.90
For next week keep buy on dips strategy till
119-119.50 with SL 117 for TGT 122, 123.90.
Snapshots on “Weekly Forecast and Individual
Pages”
Nickel
Nickel could not sustain 998 breakout level on
weekly basis. It is still strong above 938 level. On daily chart we can expect
retracement will continue till 960-964 level. Nickel is trading above 45 MA on
weekly chart. Oscillator on weekly chart is suggesting strong moment and daily
chart is suggesting retracement.
Still our TGT for long positions is intact for
TGT 1030.
For next week keep buy on dips strategy till 960-965
with SL 938 for TGT 1030.
Snapshots on “Weekly Forecast and Individual
Pages”
Crude
Crude is trading below all MA on weekly chart
suggesting it is still weal. It closed below 6086 resistance level. It has also
not sustained 6109 breakout level.
Now watchout breakout below 5980 level which is
major support. Breakout below this level can take crude till 5830 levels as
next TGT.
For next week Sell on rise till 6125 level with
SL 6150 for TGT 5985, 5830 and below .
Snapshots on “Weekly Forecast and Individual
Pages”
Natural
Gas
Natural gas is could not sustain below 253 on a
weekly basis. Weekly oscillator is still showing NG is weak. But daily
oscillator is suggesting technical bounce back.
NG can technically bounce back till 281, 286, 294
levels. Below 294 NG weak.
For next week buy near / above 265 with SL 263
for TGT 281, 286, 294.
Sell at 281, 286, 294 SL 296 TGT 253 and breakout
below 253 on a weekly closing basis will take it to 250.20, 248 and below levels…
Snapshots on “Weekly Forecast and Individual
Pages”