WEEKLY COMMODITY OUTLOOK (09-08-10)
GOLD:- Last week the momentum in the rise has appeared which was previously missing. For the coming week we see a small tick above the 1220 & max to 1225 & the reacting back to 1195 level.
SILVER:- Silver has terminated the flat correction at 17.325 & gave a major spike. This spike has come at good divergence in oscillators & has crossed the 2-4 trend line. It is in the process of forming the five wave pattern. The 5th wave of this pattern is expected to terminate at 18.90 & then may react towards the 18.30 during the coming week CRUDE:- The up move which commenced from the 71.09 is in the terminal stage of completion. At max it may make one more spike around 84.00-84.60 & decline towards the 76.00.

NATURALGAS:- Last week it made the low of 4456 against our expectation of the 4500.We continue to see the vertical decline till the 3800-3900 range in coming week. COPPER:- Copper has completed the five wave on upside at 341.05 starting from the 292.50.W see it to react to 325 & then to 318 level during the coming week. The nature & characteristics of this decline will decide the future course of action. NICKEL:- Nickel has made the high of 22280 against our expected range of 22130-22250.However it has completed the five wave pattern at 22280 starting from 18700 & we see it correcting to 20750-20500 range in coming week. ZINC:- Zinc has made the high of 2142 against our expected range of 2165-2175.We do see still some upward force & it may touch this range in coming week. However after this we see a correction down to 1950 levels.


LEAD:- Last week it made the high of 2250 against our target of range of 2117-2248.In the process it has terminated the five wave sequence at 2250 starting the 1755.50.For the coming week we see it declining to 2025-1960 range





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