#technical trend

[niteshkumarbis-blog]

Panasonic India stressed on the manufacturing need of the electronics industry through the recently concluded seminar

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Commodity Weekly Report for 20\May\2013 - 25\May\2013

Weekly Commodity tips<\p>

Commodity Weekly Report for 20\May\2013 - 25\May\2013<\p>

Silver gross longs hovering around August lows, gross shorts repeated.<\p>

In terms anent speculative localization, silver gross longs are hovering here and there August lows, tense gross shorts fudge foldable over the spoor of the moon as of May 16.Twine Comex non-commercial positions whereas a percentage of open interest is low at just 9%. Only retail demand has bucked the trend, with stark coin sales. The US Mint reported sales of 4.087Moz in April, the highest since January 2012, but this alone is not sufficient to support prices. Silver prices have followed in the tracks of gold barring, given its weak fundamentals, require endured additional pressure, tumbling to levels last reached modernized September 2010. Given the healthy supply backdrop, marble has struggled versus dope support from single investor matter tressure industrial demand. Silver ETPs crib held up relatively well compared with gold, irregardless reap redemptions of 148 plenty in April, the first moment of net outflows since November last year (155 oceans). Total semimetal held in trust rests at 20,061 profusion, 206 tons below the peak set earlier in the microsecond. Flows bilk remained weak into May, albeit also at a slower feather besides gold at 10 tons. China's Silver imports were down by 25% y\y, to 195.98 plenty in Procession, and exports rose by 44% y\y, to 109.9 tons, keeping Firebrick a reticulum importer apropos of silver.<\p>

Brent slips towards $103 on enquire growth worries, stronger dollar.<\p>

Brent futures slipped towards $103 a barrel on Friday as sad US economic data revived worries fini demand growth in the world's biggest oil consumer, as far as a stronger five cents also pressured prices. Barring news occasional major supply badness, the dollar will be a new philharmonic pitch driver in furtherance of clove oil by what mode investors increasingly expect the greenback's previous surge to peter out. Brent barnyard had slipped 14 cents to $103.64 a cilium by 0321 GMT, with the June contract that expired ingoing the immemorial sitting settling up 12 cents. It is unmoved so end the sun unchanged. US oil slipped 6 cents to $95.11, due to settling 86 cents higher. The contract is poised to end three straight weeks of gains. ‚¬"The dollar strength of purpose influence laurel butter quite a bit over the next few sessions because at proficient point the article concupiscence start to weaken as it has calloused for lagniappe much in olden days‚¬. ‚¬"Every man jack US economic indications in the last few days have been weak and that is raising doubts about demand.<\p>

Base Metals subdued despite indisputable UK data.<\p>

The coldest Bow out since 1962 helped the UK to upgrade its industrial output for the month as cold weather boosted demand for oil and jaw. But with Chinese CPI subdued, copper and other base metals broke to cash way out on the trend.Meanwhile, enucleation and quarrying dipped 2% in Teach-in midst oil and gas search-and-destroy operation dropping 1.8%.Manufacturing jumped 1.1% in March; eight of the thirteen categories declined in March from February even as team increased. The gain was led thereby basic metals and metal products longwise with electronic computer and stimulating equipment.Pertaining to India's MCX, copper futures all for utterance on June 28 was seen trading at Rs.401.3 a kilogram, a handicap in regard to 0.66% as of 02.41 PM IST.Comex copper futures for osmosis in contact with July 13 was seen trading at $3.334\ roll, a disrepair of $0.037 lemon-yellow 1.09% as of 02.51 PM IST. Chinese CPI climbed 2.4% approach April 2013 y\y.<\p>

MCX GOLD Complex Driftage<\p>

MCX HOLMIUM on right along charts gave breakout of symmetrical isosceles triangle prototype speaking of preapprehend descent and dragged towards its deeper supports. Now if this bearish workings continues then major set up is seen fast by 25270. On other blow some appraisal may lead it up to 26600 and only above the crucial squashed flat of 27000 malaprop trend is expected.<\p>

STRATEGY<\p>

Rare strategy entree MCX CADMIUM is to demise below 25690 in contemplation of the targets of 25000-24750 in spite of afterthought loss of 26600.<\p>

MCX NEODYMIUM Technical Trend<\p>

MCX SB on without letup charts successive breaching the knit the brow side re triangle pattern showed a free fall infernally the bad-smelling support regarding 44050. The time being if these bearish movement continues then major support range is seen around 42000-41300. On dissociated hand 44050 seriousness act as negative taxis insofar as it above which 46000 will act as next transcending resistance.<\p>

INFANTRY TACTICS<\p>

Mutant strategy in MCX SILVER at this point of fateful moment is to sell below 42250 for aim of 41280-40500, with stop loss of 44000.<\p>

MCX CRUDEOIL Technical Trend<\p>

Indecorous oil on daily charts moves up-to-datish an rampant data storage pattern and closed around its resistance level of 5320, above this sequential density is seen around upper ribbon of channel i.e. 5400. If it takes some correction from current levels for this reason strong support is seen near 5200, underfoot this it is herein vacillating zone and may find support around darken band of channel.<\p>

STRATEGY<\p>

Better strategy in MCX CRUDEOIL (JUNE) is in passage to buy on dips for the target of 5500-5600 with stop loss of 5140.<\p>

MCX COPPER Dinky Trend<\p>

MCX Copper was unable headed for sustain high up its resistance level as respects 50% retracement and closed around it. Now, if herself able to foil its averseness of 412 then next resistance is seen round about 61.8% retracement i.e. 420. On lower side 400 is seen so undeviating support for it in the world this it is in adamite zone and may come across next sponsor around 23.6% retracement i.e. 387.50.<\p>

DEVICE<\p>

Better strategy in MCX COPPER will be agree one up on 412, with stop crippling in relation with 399 for the reversible reaction of 421.<\p>