Commodity Special Report - Silver Lining for Commodities :: Edelweiss

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• COMEX Gold has formed a bullish reversal anti-cypher harmonic pattern with bullish candlestick hammer. The break above $1,250 can rally to $1,330-1,360
• MCX Gold resistance at Rs.27,700, the break will confirm the end of bearish move along with COMEX breakout of $1,250
• COMEX Silver takes support at multiple trendline. We expect it move higher to $18 and $22 above $19
• LME Copper trading at the support of trendline with RSI moving northwards
• The bullish reversal anti-shark harmonic pattern on MCX Copper at horizontal trendline ends the bearish move. The break above Rs.408 can target 4% on the upper side
• LME Lead is hovering around the rising trendline and horizontal channel. The price is expected to rise by 5% to $2,150
• The bullish reversal nen-star harmonic pattern in falling channel indicates a bullish breakout above $2,270 for the target of $2,350
• WTI Crude oil monthly chart is trading near the 16 years rising trendline. We remain neutral at the current levels.