Comex Report by www.epicresearch.co- 14th February 2013
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Gold futures are languishing below $1,650 an ounce, burdened by chart weakness and a lack a volume due to the Lunar New Year holiday.Gold for April delivery on the Comex division of the New York Mercantile Exchange was last down $3.30 at $1,645.80 an ounce.The yellow-metal
yesterday broke below its 200-day moving average, which served as the catalyst for a strong bout of technical selling. And without Asian physical demand to buoy to market, prices fell to a five week low of $1,639.50. The ongoing holiday in China and inattentive Indian importer
sentiment left the gold market with little supportive interest overnight, the CME Group said in a market commentary. The noticeable lack of dip buying is evidence of a nervous market, a US-based gold trader said.
TRADING TIP :
SELL GOLD BELOW 1645
TGS 1639/1633 SL 1651
SELL SILVER BELOW 30.95
TGS 30.75/30.55 SL 31.15
SELL COPPER BELOW 3.7400
TGS 3.7200/3.7000 SL 3.7600
BUY CRUDE ABOVE 98.22
TGS 98.62/99.02 SL 97.82
EXPERT OPINION
GOLD LOOKS BEARISH
SILVER LOOKS BEARISH
CRUDE OIL LOOKS BULLISH
COPPER LOOKS BEARISH
NGAS LOOKS BEARISH
LEAD LOOKS BULLISH
NICKEL LOOKS BULLISH
ALUMINIUM LOOKS BULLISH
ZINC LOOKS BULLISH
GOLD HOURLY CHART
S1 S2 R1 R2
1639 1633 1651 1657
GOLD LOOKS BEARISH SELL AROUND 1645.00LEVEL IS SUGGESTED AND RECOMMENDED TO
BOOK PROFIT NEAR 1639.00 LEVEL AND MAINTAINING SL OF 1651.25
SILVER HOURLY CHART
S1 S2 R1 R2
30.66 30.36 31.26 31.56
SILVER LOOKS BEARISH SELL AROUND 31.05 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK
PROFIT NEAR 30.85 LEVEL AND MAINTAINING SL OF 31.25
COPPER HOURLY CHART
S1 S2 R1 R2
3.7250 3.7050 3.7650 3.7850
COPPER LOOKS BEARISH SELL BELOW 3.7400LEVEL IS SUGGESTED AND RECOMMENDED TO
BOOK PROFIT NEAR 3.7200 LEVEL AND MAINTAINING SL OF 3.7600
CRUDE OIL HOURLY CHART
S1 S2 R1 R2
97.20 96.80 98.00 98.40
CRUDE LOOKS BULLISH BUY AROUND 98.22 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 98.62 LEVEL AND MAINTAINING SL OF 97.82
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