WEEKLY COMMODITY OUTLOOK (18-01-10)
GOLD:- On the expected line it formed the top of 1163 & started declining. If it breaches 1114.5 then it will head for 1050.However we expect this decline to be much slower & treacherous in comparison to the previous decline of 1227 to 1075.20.
SILVER:- It is consolidating & correcting within the band of 19.5-16.5 the stupendous rise from 12.5 to 19.5.Since it is near 18.500 we expect it to touch lower boundary of 17.5-16.5.
CRUDE:- Last week it made the high of 83.95 against our expectation of 85-86 .It made the low of 77.70 against our expectation of 79-80. The downward momentum is so swift & strong that we expect it touch the 72-73 band.
COPPER:- Last week it made the low of 330.5 against our expectation of 330.In our view it has turned on upside & may touch the high of 354.40 in coming week & not likely to breach 330.However our target is 375 in longer term.
Categories: WEEKLY COMMODITY OUTLOOK
Tags: WEEKLY COMMODITY REPORT
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