WEEKLY COMMODITY OUTLOOK (02/03/2010)

GOLD:-   Gold is unveiling the five wave sequence & at the moment it is in the 5th wave. At the moment we are presuming that within this five wave sequence the wave 3 is extended hence wave 5 will terminate at any level higher than 1132.Alternatively if wave 5 is to extend this will terminate near 1200.However at the moment there is little evidence for the same & we will revert back as & when evidences come up.
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SILVER:- It is following the same pattern of gold. In line with the same logic it should complete the five pattern in the zone of 16.95-17.40 & sharply retrace from there on towards the 15.65. Your browser may not support display of this image.
CRUDE:- It has good support at 77.00 & resistance at 80.80.On the cross of 80.80 we should see the rate of 84.00. Your browser may not support display of this image.

COPPER:- Ideally it should make one more high above 348 & the decline to 315-320 range. However if it breaches the 332 level then expect straight correction to 315-320.
Posted by JKD VIEWPOINT at 3/2/2010
Categories: WEEKLY COMMODITY OUTLOOK
Tags: WEEKLY COMMODITY REPORT
 

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