MCX Silver Mar: Expect prices to find support in the range of 18134/17954 levels for a move higher towards 19295 followed by 19785.only a direct fall below 17561 will cause doubt about this bullish view.S1:18200 S2:18000 R1:18550 R2:18725
MCX Copper February: Buy on the break of 156.0 and then rest on dips to 153.0 s/l 148.10 t/p 169.25. S1: 151 S2: 147 R1: 161 R2:166
MCX Crude Oil Jan : Favoured view expects a dip first while staying below 2163. Supports are near 2094/2098, 2053. Ideally the correction should end near 2093 for next rally towards 2251/2301 initially. Fall below 2000 is needed to hint that the downtrend might have resumed.S1: 2045 S2: 1995 R1: 2165 R2:2210
MCX Zinc Jan: - Expect dips to 58.00 / 58.65 to find support for price to move higher towards 63.60 levels.A fall below 57.00 will negate this bullish view. S1: 58.20 S2: 57.00 R1: 60.50 R2: 61.75
MCX Lead Jan: Expect dips to 49.40/49.00 to find support for a move higher towards 52.00/53.00 levels. Only a move below 46.50 to take prices lower now.S1: 48.55 S2: 44.40 R1: 50.65 R2: 52.15
MCX Nickel Jan: Expect dips to 567 / 560 to support prices for a move higher towards 600: 620 levels .Only a move below 540 to cause doubts about this view.S1: 565 S2: 540 R1: 605 R2: 625
MCX Natural Gas Jan :- Expect dips to 270- 265 for a rally targeting 299:305 . A fall below 260 to negate this bullish view.S1: 268 S2: 260 R1: 285 R2: 292
NYMEX CRUDE TECHNICALS:The breach of the 39.85 level that we have pointed out to in our previous report, opened the way for the pair to reach levels above the 45 mark. We now see the pair could declined to retest the support levels but as far as trading remains above 40.35 on the four hour charts, the intraday trend will be to the upside.
The trading range for today is among the key support at 38.70 and the key resistance at 45.50
COMEX GOLD TECHNICALS:Further attempts to breach the key resistance for the medium term ascending channel have failed. We see in the image above the butterfly in yellow which will not be breached until we see a successful breakout of the 890.55 level where from here we see the Harmonic Trend with the correction level at 76.4% is still intact and will be confirms the fact that we expect a significant fall. IF GOLD FAILS TO CLS ABV 892 WE MAY SEE A FALL TILL 837 , SO BUY ONLY ABV 892 WITH SL 870 TGT 900-930
COMEX SILVER TECHNICALS:We see the metal has created an upside trend targeting the key resistance for the ascending channel at 11.79 which will be achieved if silver builds a solid base above the 11.00 level. The upside trend will continue on the intraday and short term as far as trading remains above 10.55
The trading range for today is among the key support at 10.15 and the key resistance at 11.78
FOREX EURO TECHNICALS:The pair started this year trading to the downside as is created a downside channel on the short term with a key resistance at 1.4190 where at the same time, it confirmed an intraday descending channel with a key resistance at 1.4015. The downside trend will continue in the upcoming period but will face the first support at 1.3830 which is the 38.2% correction for the ascending channel that started on 13-10-2008 where from there we expect the pair to rebound to the upside as it is being oversold on the stochastic indicator yet the downside trend continues on the short term.
The trading range for today is among the key support at 1.3615 and the key resistance at 1.4190
