WEEKLY COMMODITY OUTLOOK (03/11/09)

GOLD:- Gold has broken out of a large triangle pattern extending from june 09 to sep 09. Last week

we had expected it to correct to 1030 level & it acually corrected upto 1026.90 7 started rising.We are looking this rise to terminate in the 1085-1100 range.

                                         

SILVER:- As expected it reacted sharply towards the range of 16.30-16.70.We are expecting a resistance at 17.30 on upside & downside it should test the target zone of 15.25-14.00.

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CRUDE:- We do not see it breaching 75 on downside therefore we recommend long position with the stop of 75
 for the target of 84.


 

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