Sunday, 3 February 2013

MCX Weekly view for 4 'Feb'2013


MCX Gold
MCX Gold lost its shine last week,it made 4 % Of loss nearly 1300 points in a week.Gold extended the longest run of monthly losses since May.Gold weakened due to report of U.S.employers added jobs last month &.U.S Rating agency Fitch, scaled back the possibility of AAA rating for U S.These News are reducing the appeal of bullion as a haven.
But U S Federal & Japan Central Bank monetary Policy move,Friday US Unemployment rate data made Gold to little green in trading & weekly settlement in positive.

Economic data around the world continue to provide mixed signals and gold will react accordingly.Once Economic data positive,it negatively affects Gold Price.

As per Technical s Daily & weekly chart had given some positive close.Once gold strong selling comes below 1650 in International Price.Buying comes above 1680.Current market price closed at 1668.

In MCX Gold had given closing price of 30599.MCX Gold lost 4% last week,it has to give some bounce from the lows.In,MCX Monthly & Daily charts positive to give small bounce,but weekly charts are in Bearish mode only.Currently MCX Gold holding support at 30536.Buy only comes above 30880 in MCX.

MCX Gold Resistance  30760,30890,31140
MCX Gold Support       30470,30310,30230



MCX Silver

Silver also made loss last week,Silver may look positive once it has to trade above 31.92 in International price.

In MCX Silver made low of 57472,it holding the support of 57470.In,MCX Silver not like gold its positive in Monthly,weekly charts & Daily chart to give small bounce.


MCX Silver Resistance  58725,59540,60040
MCX Silver Support       57970,56945,56240


MCX Crude Oil

Crude Oil Settled at 97.63.Buying Comes only above 97.85.Crude Oil had taken support from Positive Economic Outlook.January U S Auto Sales Increase & Dow Jones Strong settlement makes crude oil trade higher.MCX Crude oil Settled at 5182.MCX Crude oil faced resistance at 5248.

MCX Crude oil Resistance   5204,5274,5302
MCX Crude oil Support       5154,5104,5024


MCX Copper

Copper settled at 377.It gave a break out in daily,weekly,Monthly.Copper Crossed resistance at 374.40 and settled at higher close.Copper Positive Close makes possibly to go higher.U S Auto Sales Increase makes Copper turn Positive.

MCX Copper Settled at 444.2.

MCX Copper Resistance  446.70,448.60,451.60,
MCX Copper Support       440.20,436.20,432.40

MCX Commodity Last week Bhav Copy Data for reference
Commodity
Open
High
Low
Close
Gold
30910
30963
30536
30599
Silver
58151
59139
57472
58502
Copper
436.35
444.90
435.15
444.2
Crudeoil
5190
5248
5140
5182

Economic Calender for Feb'4-8'2013

  • U S. Factory Orders 
  • U S.   ISM Non-Manufacturing PMI
  • European Central Bank Official Bank Rate
  • Bank Of England Rate
  • Chinese Trade Balance
  • December Trade balance


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