WEEKLY COMMODITY OUTLOOK (22/02/2010)

GOLD:- Gold is moving up in a rising channel as shown in the chart below. For the week we see 1105 as strong support & it is not likely to be broken. On the upside we see the target range of 1145-1155 for profit booking.
 

 

SILVER:- In tandem with the gold, silver is rising within the channel. It has strong support at 16.20 & 16.80 as upper range for the coming week.

 



CRUDE:-
It is rising within the rising channel in a blow off manner. We are of the view that it is in terminal stage of rising & may soon correct to 76.5 levels or still lower.

 



COPPER:-
It is rising within the channel as shown in the chart below. For the coming week there is strong support at the 326 & we see the target of 350 achievable.

 

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