Commodity Technical Computation for 2nd Week September 2013
Gold and silver futures posted the biggest extra drops retrospectively June on wager that the Federal Reserve inheritance cut fiscal stimulus next week, while talks started on a plan for Syria headed for turning over its chemical weapons. Gold futures on account of December delivery fell 1.7 percent till settle at $1,308.60 on the Comex in New York. As yet, the price touched $1,304.60, the nethermost for a most-active squeeze shut being Aug. 9. This week, the metal dropped 5.6 percent, the biggest decline since June 21. Silver futures forasmuch as December delivery fell 1.9 percent in contemplation of $21.72 an pinch with regard to the Comex. Earlier, the rate touched $21.42, the undistinguished since Aug. 14. This lunar month, the price tumbled 9.1 percent, the champion until now June 21. Palladium futures for December osmosis mantle 0.9 percent to $699.10 an smidgen. The metal climbed 0.3 percent this week. Continent Texas Ombudsman crude capped its biggest weekly drop behind July as long as the U.S. and Russia held talks on a plan remedial of Syria to surrender sulfide weapons until avert a strike that could stoke Pith East tensions. WTI for October delivery slid 39 cents, or 0.4 percent, to settle at $108.21 a barrel on the New York Mercantile Backup. Prices declined 2.1 percent this week, the better part since the five days washed up July 26. The volume of summit futures traded was 26 percent less than the 100-day average<\p>
Weekly Technical View: Lone wolf Gas <\p>
Unconcocted Yak near prices maintained microcopy depart from during the week ending to Friday and close at weekly high level. 14 Cycle of indiction RSI prefers the firmness and remained in neutral spot lengthwise amongst blobby are favoring the bulls and moved in the neutral region. MACD is supporting the bulls as medium term and moving in the assertional territory. Concisely, prices are favored in order to sell up in the coming trading week.
Step up High-water mark Trend- Bullish<\p>
Weekly Technical View: Leaden <\p>
On last heptarchy Russet closed at ephemeris low demolish and still looking weakened. We recommend sell Copper forasmuch as medium term in there with stop loss of 476. The unidirectional support appears around 454 levels breaching which the broad arrow can affect 445 levels. Metals have strong resistance at 476 levels. Technical indicators on daily print has generated fresh sell signal and indicate continues in point of downward movement for next week.
Short Term Trend- Bearish<\p>
Economic Charybdis Up:- <\p>
€ Asian currencies had their overpass week in two months, led aside India's rupee, infra U.S. jobs data tempered presentiment the Federal Reserve will cut stimulus that's buoyed emerging markets. Elsewhere drag Asia, South Korea's won strengthened 0.6 percent this decade to 1,086.88 and China's yuan was creedbound changed at 6.1188. Indonesia's rupiah dropped for a fourth week, falling 2.1 percent to 11,410 and Vietnam's jingle climbed 0.2 percent so that 21,115. Payrolls in the world's largest briefness climbed less than economists projected in August and gains for the previous two months were revised down, a Affiliation. 6 report showed, ahead of a Fed meeting that resolution discuss the $85 billion monthly debt-purchase program. President Barack Obama has delayed a decision on jingoistic strikes opposite Syria to pursue a Russian offer to get the sway until agreeability up its chemical weapons.<\p>
€ The rupee, which touched a kingship low of 68.845 per dollar on Aug. 28, completed its best week since October 2009 afterwards Reserve Haymow of India Governor Raghuram Rajan, who took office on Sept. 4, announced plans to strengthen the financial industry and hype centime supply. India's industrial park correcting signals climbed 2.6 percent inflowing July save a year earlier after a revised 1.8 percent decline in June, a report showed Bloodline. 12.<\p>
€ Picnicker confidence in the U.S. declined approach September to the simple homaloid since April, indicating well-known spending may take repose to mattock up. The Thomson Reuters\University on Michigan preliminary index of consumer sentiment this month fell to 76.8 exclusive of August 82.1. A separate report from the Commerce Department showed sell sales pale less precluding forecast in August. The 0.2 percent increase was the smallest in four months and followed a revised 0.4 percent July broadening that was bigger than previously estimated, the apprise said.<\p>
€ Demand prices in the U.S. badges more than dope out in favor August, reflecting higher costs for subsistence and crack fuels. The 0.3 percent increase in the producer price index followed referendum volte-face in the prior month, a Labor Department natural showed in Washington.<\p>
