WEEKLY COMMODITY OUTLOOK (10/05/2010)
GOLD:- Gold has risen from 1156.20 to 1214.90 in last three days of week & stamped our view that it is in fast accelerating pace. However it breached the 1160 & made the low of 1156.20 & rose to 1214.90 levels. For the coming week we expect it to rise with fast blazing speed to our target zone of 1235-1250 during the initial period of week. After hitting the target zone we see even quicker reversal to 1170.Avoid trading if unable to handle the huge volatility.
SILVER:- In our view it is imitating GOLD or vice versa. We expect this to attain 19.55-20.10 zone in very fast blazing speed & reverse the on downside with still quicker zing to 17.10.
CRUDE:- In our view it has completed the one larger degree pattern at 87.15 which began at 33.20.This has been confirmed by the EVENING STAR PATTERN in daily chart & BEARISH ENGULFING LINE in weekly chart. We see it bouncing back to 78-80 zone & start descending again 70-69 levels.
NATURALGAS:- We see it bouncing to 4.15-4.20 levels & move downside to hit the target in 3.25 area.
COPPER:- Copper has completed the major degree wave at 368 & now it has unveiled the downside wave. For the coming week we see it bouncing to the 327-332 range & resume the downtrend again.
LEAD:- In our view it has turned bearish & as pull back may test or come near to 2100 & then resume the downtrend for the target below 1900.
NICKEL:- At 22750 it has completed it's corrective rise on upside & turned down. We see now the support below the 20500 in the form of new low.
SILVER:- In our view it is imitating GOLD or vice versa. We expect this to attain 19.55-20.10 zone in very fast blazing speed & reverse the on downside with still quicker zing to 17.10.
CRUDE:- In our view it has completed the one larger degree pattern at 87.15 which began at 33.20.This has been confirmed by the EVENING STAR PATTERN in daily chart & BEARISH ENGULFING LINE in weekly chart. We see it bouncing back to 78-80 zone & start descending again 70-69 levels.
NATURALGAS:- We see it bouncing to 4.15-4.20 levels & move downside to hit the target in 3.25 area.
COPPER:- Copper has completed the major degree wave at 368 & now it has unveiled the downside wave. For the coming week we see it bouncing to the 327-332 range & resume the downtrend again.
LEAD:- In our view it has turned bearish & as pull back may test or come near to 2100 & then resume the downtrend for the target below 1900.
NICKEL:- At 22750 it has completed it's corrective rise on upside & turned down. We see now the support below the 20500 in the form of new low.
ZINC:- In our view it is in extremely weak condition & does not look like giving any bounce. We see the 1950,1845 & 1798 as potential target for the downtrend.
Posted by JKD VIEWPOINT at 5/10/2010 
Categories: WEEKLY COMMODITY OUTLOOK
Tags: WEEKLY COMMODITY REPORT
Categories: WEEKLY COMMODITY OUTLOOK
Tags: WEEKLY COMMODITY REPORT
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