WEEKLY COMMODITY OUTLOOK (31/05/2010)
GOLD:- In our view gold is in upward trend after forming a bottom at 1166.Our analysis says that it is headed for the 1250 & may cross it in coming week. This we have shown in the chart with the rising channel.
SILVER:- It is in uptrend like gold but not that strong as gold. However it has a good support at 18.00 & on upside it will attempt to head towards the 19.50.
CRUDE:- Ideally we expect it to make a new high above the 75.72 but will not be able to cross 77.We expect a sharp decline from there on towards 69.00.
NATURALGAS:- It is rising in the slightly upward tilted channel. We expect it to hit the target of 4.60 & if it is crossed with volume than it may move still higher. The absence of high volume & momentum may drag it down to consolidation channel.
COPPER:- Copper should ideally made nominally one more new high above 318.70 which shall not cross 320.Alternatively it may start descending straight down towards 300.In either case it should finally head lower towards the 300 & below.
LEAD:- It is in terminal stage of its decline. We see a one more new low below the 1721 in the range of 1650-1700.
NICKEL:- Nickel has sharply turned down & likely to breach the support of 20500.We see next support level at 19000-18500.
ZINC:- It has turned down & will breach 1820 level. We see it finding the support at 1750.
Posted by JKD VIEWPOINT at 5/31/2010 
Categories: WEEKLY COMMODITY OUTLOOK
Tags: WEEKLY COMMODITY REPORT
Categories: WEEKLY COMMODITY OUTLOOK
Tags: WEEKLY COMMODITY REPORT
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