WEEKLY COMMODITY OUTLOOK (03/05/2010)
GOLD:- Gold is now on fast accelerating rising pace. We do not see it breaching 1160 & on upside our target is 1235 or higher in the next 3-4 weeks. However for the coming week we see it reacting to 1165 during the initial part of the week & then start rising again.
SILVER:- In our view it is imitating GOLD or vice versa. We expect this to attain 19.80 in very fast pace streak without violating 18.40 in next 4-5 weeks. However for the coming week we see it reacting to 18.45-18.50 levels & rising to 19.10-19.20 levels & then attempting to retest 18.50.
CRUDE:- It has strong support at 84.50 & it is likely to show the rate of 89 sooner than later & that to in fast blazing speed. For the coming week we see it reacting to 84.80-85.00 levels & then head for 89.00 target.
NATURALGAS:- It has breached the range of 3.85 to 4.25 of last one month on the downside. In pull back it may bounce back to 4050 level but it is destined to move lower to 3650-3500.
COPPER:- We were blatantly proven wrong last week that copper would not breach 350 & actually it made the low 332.In fact 328-332 is such a strong support & base we would be utterly surprised if it is broken. It is quite logical to expect it to be bounce back to 355 even if we presume the bearish trend.
LEAD:- In our view it is bearish below 2125 & bullish above 2275.We would treat the 2275-2125 as trading range.
NICKEL:- Last week our view of the ascending triangle was negated & it broke down form the flat correction. We maintain that it is in strong uptrend & it should show the rate of 31000 or higher. We are of the view that it will cross 27600 top & show the higher rate.
SILVER:- In our view it is imitating GOLD or vice versa. We expect this to attain 19.80 in very fast pace streak without violating 18.40 in next 4-5 weeks. However for the coming week we see it reacting to 18.45-18.50 levels & rising to 19.10-19.20 levels & then attempting to retest 18.50.
CRUDE:- It has strong support at 84.50 & it is likely to show the rate of 89 sooner than later & that to in fast blazing speed. For the coming week we see it reacting to 84.80-85.00 levels & then head for 89.00 target.
NATURALGAS:- It has breached the range of 3.85 to 4.25 of last one month on the downside. In pull back it may bounce back to 4050 level but it is destined to move lower to 3650-3500.
COPPER:- We were blatantly proven wrong last week that copper would not breach 350 & actually it made the low 332.In fact 328-332 is such a strong support & base we would be utterly surprised if it is broken. It is quite logical to expect it to be bounce back to 355 even if we presume the bearish trend.
LEAD:- In our view it is bearish below 2125 & bullish above 2275.We would treat the 2275-2125 as trading range.
NICKEL:- Last week our view of the ascending triangle was negated & it broke down form the flat correction. We maintain that it is in strong uptrend & it should show the rate of 31000 or higher. We are of the view that it will cross 27600 top & show the higher rate.
ZINC:- In our view it has entered the short term downtrend. On the upside we do not see it crossing the 2375-2380.On the downside it may take support at 2198,2116 & finally at 1935.
Posted by JKD VIEWPOINT at 5/3/2010 
Categories: WEEKLY COMMODITY OUTLOOK
Tags: WEEKLY COMMODITY REPORT
Categories: WEEKLY COMMODITY OUTLOOK
Tags: WEEKLY COMMODITY REPORT
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