WEEKLY BULLIONS REPORT

Reports for - 16th - 20th July


Gold
COME Gold is technically consolidating on lower levels on charts. Last week COMEX Gold was trading downside for most part of the week.In the coming week 1525$ will act as a major support in COMEX Gold and 1720 $ will act as a major
resistance.

Strategy
For the next week traders can use sell on higher level strategy if COMEX Gold sustains below1630 $ an ounce, then below 1545 $ it can test the level of 1535$/1520$/1505$ an ounce. And in MCX, If Gold sustains below 29850 then above 29150 it can test the level of 29000/28850/28700. Trade by keeping the strict stop losses.
Major support for COMEX Gold in the coming week is 1520 $ and 1480$.
Major resistance for COMEX Gold in the coming week is 1720$ and 1800$
Major support in MCX Gold is 28500 and 28200
Major resistance in MCX Gold is 30400 and 30750

Silver
COMEX Silver is technically consolidating on lower levels on charts. Last week COMEX Silver was trading on lower side for most part of the week. For the upcoming week 2600 $ and 2450$ are the crucial supports and 3090$ and 3180$ are crucial resistance in COMEX Silver. In MCX Silver 54500 and 55800 will act as major resistance and 49700 and 48800 will act as major supports.

Strategy
Technically COMEX Silver is consolidating on charts. For the next week traders can sell on higher level strategy if Silver sustains below the level of 2910$ an ounce, then below 2630$ COMEX Silver can test the level of 2580/2530/2470$ an ounce. And in MCX, Silver sustains below 53800 then below 52200 it can test the level of 51700/51200/50600, Trade by keeping the proper stop losses.

Crude
NYMEX Crude is technically consolidating on charts. Last week Crude Oil was traded in a range.For the coming week 73$ and 67$ will act as major supports and 92$ and 95$ a barrel will be a major resistance in NYMEX Crude. In MCX Crude Oil major resistance is found at 5010 and 5210 and major supports will be 4530 and 4410.

Strategy
For the next week traders can use buy on lower level strategy, if NYMEX Crude sustains above the level of 80 $ a barrel then above 87.70 $ a barrel it can test the level of 89.20 $/90.70$/92.70 $ a barrel and in MCX if Crude sustains above 4650 then above 4830 it can test the level of 4880/4930/4990 in this week. Trade by keeping the proper stop loss.

Copper
COMEX Copper was technically consolidating on charts.For the next week traders can go for buy on lower level strategy in Copper. In next week if COMEX Copper sustains above the level of 330 then above the level of 355 Copper can test the level of 360/ 365 /371. In MCX, Copper sustains above 420 then above 431 it can test the level of 436/441/447 if it does not break the level of 420 on the downside.

Strategy
For the upcoming week 370 and 386 will act as major resistance and 325 and 310 will act as major supports in COMEX Copper. For MCX Copper major resistance would be 450 and 465 and supports would be found at 415 and 400.

NaturalGas
The major trend Natural Gas is consolidating and traders can use the strategy of buy on lower levels. If next week Natural Gas sustains above the level of 2.700 $ then below the level of 3.050 $ Natural Gas can test the level of 3.100$/3.160$/3.220 $ and below 2.650 $ Natural Gas can test the level of 2.600/2.540 $. In MCX, if Natural Gas sustains above 150 in the coming week then above 164 it can test the level of 169/174/180, if it does not break the level of 150 on the downside.

Strategy
For the upcoming week 2.500 $ and 2.410$ will act as major supports and 3.070 $ and 3.250$ will act as major resistance in US Natural Gas. For MCX Natural Gas major resistance would be 185 and 205, supports would be found at 140 and 130.



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