weekly commodity-report by epic research 24 dec 2012
DESCRIPTION
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WEEKLY COMMODITY REPORT 24TH DECEMBER 2012
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HEADLINES
Select base metals ease on lower demand
Select base metals prices eased at the non-ferrous metal
market here today on stockist selling amid lower
demand from industrial users despite a recovery at
London Metal Exchange (LME). Meanwhile, select
copper, aluminium and lead rose owing good offtake
consumer industries. The industrial metal moved up at
the LME amid cautiousness prevailing on continued
uncertainty of US talks to avert fiscal cliff on the back of
mixed bag of economic data
Copper rebounds from 3-week low; US fiscal
talks in focus
London copper rebounded on Friday, but remained
near a three-week low hit in the previous session, as
uncertainty whether the world's top economy could
avoid an imminent fiscal calamity continued to drag.
The mood of financial markets has closely followed the
twists and turns in talks between the White House and
Republican lawmakers to avert the "fiscal cliff", $600
billion worth of tax hikes and spending cuts set to kick
in in the new year.
TRADING TIP:
Buy Silver Mar
Above 58200
TGTS-58600/58900
SL-57999
Sell Nickel Dec
Below 958
TGTS-952/945
SL- 963
MCX WEEKLY GOLD CHART
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ANALYSIS
OPEN: 31162
HIGH: 31535
LOW: 30370
CLOSE: 30913
GOLD LOOKS UPWARD
TREND: BULLISH
STRATEGY: BUY ON DIPS
MCX WEEKLY SILVER CHART
ANALYSIS
OPEN: 61444
HIGH: 62164
LOW: 57223
CLOSE: 58165
SILVER LOOKS UPWARD
TREND: BULLISH
STRATEGY: BUY ON DIPS
MCX WEEKLY COPPER CHART
ANALYSIS
OPEN: 447.40
HIGH: 447.85
LOW: 432.70
CLOSE: 437.25
COPPER LOOKS DOWNWARD
TREND: BEARISH
STRATEGY: SELL ON RISE
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MCX WEEKLY CRUDE OIL CHART
ANALYSIS
OPEN: 4730
HIGH: 4989
LOW: 4730
CLOSE: 4923
CRUDE OIL LOOKS UPWARD
TREND: BULLISH
STRATEGY: BUY ON DIPS
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COMEX WEEKLY SILVER CHART
ANALYSIS
OPEN: 32.26
HIGH: 32.51
LOW: 29.58
CLOSE: 29.97
COMEX SILVER LOOKS UPWARD
TREND: BULLISH
STRATEGY: BUY ON DIPS
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COMEX WEEKLY GOLD CHART
ANALYSIS
OPEN: 1695.65
HIGH: 1702.95
LOW: 1635.38
CLOSE: 1654.70
COMEX GOLD LOOKS UPWARD
TREND: BULLISH
STRATEGY: BUY ON DIPS
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