Monday, March 31, 2014

A Sharekhan commodity research newsletter| For March 31, 2014


Gold: near strong support
Weekly close: $1,293.50
Gold in the last few months had fallen down in a three-wave manner.

Silver: at a crucial junctureWeekly close: $19.770
Silver was falling in a medium-term falling channel since the last few months. 
Copper: bearish potential intact
Weekly close: $3.0415
Copper is in a downtrend from the medium-term perspective.

Crude oil: Bears Warming upWeekly close: $101.67
NYMEX crude oil recently formed a sharp pull-back.

Jeera: finds supportWeekly close: Rs10,065
The adjoining is a weekly chart of NCDEX jeera April 2014 contract. Jeera has been in a medium-term downtrend.

Soya bean: stuck in a rangeWeekly close: Rs4,314
The adjoining chart is a weekly chart of NCDEX soya bean April contract. We can observe that for the past one month soya bean has been trading in a range.

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