WEEKLY COMMODITY OUTLOOK (28/06/2010)
GOLD:- Gold has broken out the ascending triangle & it is in the pull back stage. As long as it sustains above 1220 the pattern will remain valid & we can see the target rates of 1330.
SILVER:- On the weekly chart silver has formed ascending triangle but not broken out yet. The upper base of this is at 19.50 which is acting as resistance for the time being. Downside it is not likely to breach the 18.00.We expect it to oscillate within this range with the upward bias.
CRUDE:- The correction of the decline from 87.15 to 64.24 has unfolded as the upward zigzag which has simultaneously taken the form of rising wedge. We see still some upward momentum balance which may take the form of laboured rise towards 80.00 but not beyond 82.35 & then decline sharply.
NATURALGAS:- It has formed the inverted flag formation & it may head for 4.40 or lower. Our bias is negative.
COPPER:- The corrective rise which commenced from the 272 is in the terminal stages of completion. Our target is 312.75 & may not cross 315.We see a sharp decline from there towards the 295-300 levels.
LEAD:- The corrective rise which began
from 1535 is either over or about to over & in any case we do not see it
crossing 1875.We see a vertical decline from there to immediately at 1720
level.
NICKEL:- Nickel has just opened up the third
leg of corrective up move with the formation of the bullish flag pattern. We
see it achieving the target zone of 21600-21800.
ZINC:- There is the last leg of upward
corrective rise in balance which may go to 1950-60 & the decline sharply to
1730 level.
Posted by JKD VIEWPOINT at 6/28/2010 
Categories: WEEKLY COMMODITY OUTLOOK
Tags: WEEKLY COMMODITY REPORT
Categories: WEEKLY COMMODITY OUTLOOK
Tags: WEEKLY COMMODITY REPORT
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