commodity weekly forecast for 1-5 april 2013

gold weekly forecast for 1-5 april 2013

mcx gold future this week closed with loss over 1% at 29394.this week mcx gold price hit high near 29680 while low was at 29254.after touching 12 month average gold price resumed downtrend and trending towards 24 month average support of 27900.on indicators,mcx gold future weekly cci is –126 and with bearish divergence while rsi is 45 and trending lower.

for next week on rupee volatility and comex gold prices irrelevant mood,situation remain complicated but one can hold shorts with closing basis stoploss above 29800 and expect 27900 and even lower levels here technically.

 

silver weekly forecast for 1-5 april 2013

mcx silver future this week closed lower with 2% drop at 53,072.this week mcx silver prices made high at 54340 while low was at 51425.on above weekly chart we can see that this week move was absolute breakdown.as i suggested we seen lower level upto 51k but now silver still look very bearish and in upcoming time we may see panic selling rallies here from investors those trapped on higher levels.mcx silver trading below 24 month average of 54000 and that is long term sell signal.on indicators side,mcx silver weekly cci is –155 and with fresh sell signal and rsi is at 41 and trending towards 30.

for next week below 54k on closing basis hold sell on rise view and expect 50 to 48k levels in 2-3 weeks time frame.

 

aluminium weekly forecast for 1-5 april 2013

mcx aluminium future this week lost more than 1% and closed at 103.65.this week mcx aluminium future made high near 105 while low was 102.8.as expect trending towards 101.on above weekly chart trend and momentum strong bearish and below 108.5 strategy remain sell on rise for long term view.on indicators side cci is –127 and continues sell signal while rsi is at 43 and trending lower at 30.

for next week with 105 closing basis trailing stoploss traders here can expect 101 to 98 levels as fresh downside targets.while in very bearish mood 94 to 90 levels also possible targets as price movement going on in  base metals.

 

copper weekly forecast for 1-5 april 2013

mcx copper future this week lost more than 2% and closed at 410.this week mcx copper future made high at 420 while in panic selling we seen low at 396.on decisive volume and price movement copper breached 2 years average level which is long term sell signal.on weekly chart 419 is 2 years average level while on downside 380 and 360 as previous bottoms support and fresh downside targets.on indicators mcx copper weekly cci is –170 and trending lower in oversold state while rsi is 43 and trending towards.

for next week below 419 hold short view and expect 380 to 360 levels as downside target levels in longer term view.while 398-390 will be next week target zones.indicators in oversold state so dead cats bounce backs also expected.

lead weekly forecast for 1-5 april 2013

mcx lead future in this week lost 3.5% and closed at 114.85.this week mcx lead future made high near 119 while low was near 113.this was straight 6 th week of price drop for lead futures and lost almost 20% from top in 1 and 1/2 months.finally touched major average this week.on downside 113 is 2 years average level and last support of bull run and on upside 118 is 12 month and 122 is 6 month average levels and strong supply zones.on indicators mcx lead future weekly cci is –132 with fresh sell signal in this week while rsi is 46 and trending lower.

for next week watch 113 if breaks take longer term short view and expect 108 to 105 as downside target zones.lead still outperformer as holding 2 years average level.above 113 bounce back upto 118 is possible but looks difficult on fundamental basis.

 

nickel weekly forecast for 1-5 april 2013

mcx nickel future this week lost 2%+ and closed at 911.5.this week mcx nickel price made high near 929 while low was 899.30 rupees move and continuation of downtrend after bounce back in last week.6 and 12 month averages in range of 935 to 940 while on downside 880-850 remain as previous bottoms supports.on indicators side mcx nickel future weekly cci is –54 and with fresh bearish divergences while rsi is at 47 with fresh sell signal.

for next week mcx nickel trend and momentum remain to be weak and below 940 hold sell on rise view and expect 880-850 as downside fresh targets.

 

zinc weekly forecast for 1-5 april 2013

mcx zinc future this week lost almost 3% and closed at 102.9.this week mcx zinc future made high near 105 while low was near 102.now mcx zinc future trading below all major averages and trending towards historic bottoms.on upside 105.5 is 2 years average and strong resistance while on downside 99 and 95 are strong supports and previous bottoms.on indicators side cci is –118 and continues last week sell signal while rsi is 44 and trending lower.

for next week below 105.5 mcx zinc future definitely sell and expect 99-100 as first target zone while on upside 105.5 remain closing basis stoploss.

 

crude oil weekly forecast for 1-5 april 2013

mcx crude oil future this week rallied on huge volumes and gained almost 5.5% and closed at 5400.this was 3 rd week of gains and in this 3 weeks we seen rally from 4900 to 5500.this week mcx crude oil future made high at 5517 while low was 5115.400+ rupees rally and strong buying and trapped shorts covering momentum.

on weekly chart mcx crude future now at top and breakout from here may set historic top on chart.major average way down near 5000 level.on indicators side mcx crude oil future weekly cci is +153 and with fresh breakout buy signal while rsi is at 59 and holding bullish momentum.

for next week strategy remain buy on dips and above 5280 trailing stoploss on closing basis hold long view and expect 5650 to 5800 in medium to long term if takes out 5540 top.us market historic high levels may set bull market here and may show 6000-6500 levels till end of 2013.4800 was opportunistic investment level.

 

Natural gas weekly forecast for 1-5 april 2013

mcx natural gas future this week closed with almost 4% gains at 222 a new high on weekly chart.this week mcx natural gas future made low at 212 while high was at 228.this was 6ht straight week of gains for ng prices and in this 6 week we seen almost 31% gains in prices.on indicators mcx ng weekly cci level is +183 and seems to overbought while rsi is at 62 and still stronger.

for next week above 210 support hold buy on dips on stronger correction and expect 235 to 255 in medium to long term view.may be till end of 2013 we may see 350+ level with intermittent stronger correction rallies.2013 will be year of natural gas price boom?

The Author

Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
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