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WEEKLY COMMODITY
RESEARCH REPORT
28th Nov 2016 – 2nd Dec 2016
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GOLD (DECEMBER)
Overview
Gold prices fell to the lowest levels since February last week after the dollar surged to fresh 14year highs as upbeat U.S. economic reports underlined expectations for higher interest rates.
Gold MCX Dec future was down almost 1.17% and closed at 28598. For the next week Gold MCX
December Future is looking bearish. One can go for sell on higher levels strategy. If it will break
the level of 28370 then it can test the levels of 28170-28010, one can go for sell with the stop
loss of 28520.
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VIEW
BEARISH
STRATEGY
SELL ON HIGHER
R2
28720
R1
28520
S1
28370
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S2
28170
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SILVER (DECEMBER)
Overview
Silver prices traded down last week as the dollar regained ground against a basket of the other
major currencies, pushing the precious metal back towards recent lows. Technically Silver is
looking bearish for next week. For the next week if Silver MCX December Future will break the
level of 39850 then it can test the levels of 39450-39050, one can go for sell below this level with
the SL of 40250.
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VIEW
BEARISH
STRATEGY
SELL ON HIGHER
R2
40650
R1
40250
S1
39850
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S2
39450
RESEARCH TEAM
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CRUDE OIL (December)
Overview
Crude oil prices were little little changed last week after earlier rising to their highest levels this
month as a growing consensus emerged in the market that OPEC would overcome internal
disputes and strike a deal to reduce crude output. Crude oil is looking bearish for the next week.
For the next week if Crude oil MCX December Future will break the level of 3150 then it can test
the level of 3080-3010, one can go for sell below this level with the SL of 3220.
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VIEW
STRATEGY
BEARISH SELL ON HIGHER
R2
3290
R1
3220
S1
3150
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S2
3080
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COPPER (FEBRUARY)
Overview
Copper MCX November Future was up almost 8.8% on last week and set for the biggest monthly
gain in a decade. For the next week Copper future is looking bullish. Next week if Copper MCX
February future will break the level of 415.00 then it can test the levels 423.00-430.00 one can go
for buy above this level with the SL of 407.00
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VIEW
BULLISH
STRATEGY
BUY ON DIPS
R2
423.00
R1
415.00
S1
407.00
©24 Carat Financial Services
S2
400.00
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