Gold:

US gold futures ended above $1,100 an ounce on Friday, gaining 1 percent on the back of a euro rally based on a Greece rescue plan, and the metal was expected to take trading cues from the currency market.

Technicals

Comex gold is still technically weak, & last week it was in a range between $1083 to $1110 an ounce. If COMEX gold sustains below $1083 an ounce then it can test the level of $1050 and on the upside $1150 will be a major hurdle to change the trend of Gold. In the coming week traders can use the sell on higher level strategy by keeping the strict stop losses in gold.
Major resistance in COMEX gold is $1160 and $1175 and supports at $1078 and $1050. Major resistance in MCX gold is 17250 and 17650 and supports at 15970 and 15710.



Copper:

US copper futures settled up near a two-week high on Friday as investor appetite for risk improved and the dollar surrendered recent gains against the euro after euro zone leaders agreed on a plan to help debt-strapped Greece.
Comex copper has been in a tight range between 343 and 330 levels for the past two weeks. Unless the prices sustain above 349 level we can still say that copper is weak and if it breaks and sustain below 329 level it can further test the support of 319. For the coming week traders should use the strategy of sell on higher levels until copper sustains above 349. Comex copper has a crucial support of 329 and 316 and resistance at 355 and 375. For MCX copper support is found at 323 and 311 and resistance at 354 and 371.