Epic Research Weekly Commodity Market News Of 17th to 21st November 2014

MCX Crude oil December as seen in the weekly chart above has opened the week at 4885 levels and prices made a high of 4947 levels. During this week price could not sustain higher levels and fell sharply lower towards the low of 4552 levels.
By: www.epicresearch.co
 
INDORE, India - Nov. 18, 2014 - PRLog -- GOLD MCX TECHNICAL VIEW

During this week prices rose sharply downwards the contract gold futures for (DEC)

delivery traded at resistance for Spot gold is at $1199 and bias remains weak as short as

held below the same. .

For the next week we expect gold prices to break the support and close below this

level than it Dec .test new level of 25500 .Support is now tacking around this rang in the

range of $1150 levels. Trading consistently below 26300 levels would lead towards the

strong resistance at 26600 levels.

SILVER MCX TECHNICAL VIEW

MCX Silver (Dec)as seen in the weekly chart above has opened the week at 35173

levels and prices made a high of 36266 levels. major movement in silver MCX last week.

short term is down trend, MCX silver low @ 33938 silver weekly support are now placed

at $ 16.02,17.55 will act as strong resistances weekly downside to positive move could

be seen

BUY SILVER (DEC) ABOVE 36100 TGTS 36600/37200 SL BELOW 35600

SELL SILVER (DEC) BELOW 35500 TGTS 34900/34200 SL ABOVE 35980

COPPER MCX DAILY CHART

MCX COPPER traded with positive bias in the previous session, but failed to breach

above recommended resistance of Rs.420 and closed at Rs.415.60 Supports are

placed at Rs.410 whereas resistance is pegged at Rs.420-422. Sustainable breach

above resistance will confirm positive move and could target Rs.430,442. Buying near

supports is advisable.

BUY COPPER (NOV) ABOVE 420TGT 426/433 SL BELOW 415

SELL COPPER (NOV) ON RISE 416 TGT 410/404 SL ABOVE 422

CRUDEOIL MCX TECHNICAL VIEW

MCX Crude oil December as seen in the weekly chart above has opened the week at

4885 levels and prices made a high of 4947 levels. During this week price could not

sustain higher levels and fell sharply lower towards the low of 4552 levels. This week

prices have closed 0.78% lower at 4689 levels, its lowest level in 17 months.

For the next week we expect crude oil prices to find support in the range of 4400 – 4250

levels.

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