MCX Silver Mar: Supports are at 18361 followed by 18196. Direct fall below 18163/18196 to result in a corrective decline towards 17867/17900 levels.Favored view expects supports at 18163/18196 to hold and rise towards potential target at 19431. S1:18300 S2:18120 R1:18750 R2:18900
MCX Crude Oil Feb : Rise above 2185 to go for 2291 levels now or even higher towards 2382. Supports are at 2130 followed by 2085. Fall below 2078 to dent our bullish view. S1: 2065 S2: 2035 R1: 2165 R2: 2285
MCX Zinc Jan: - Rallies to 57.35 ,58.35 likely to find resistance for a move lower towards 54.30 ,53.00 levels again. Only a rise above 59.0 to negate this bearish view. S1: 55.0 S2: 54.0 R1: 56.35 R2: 57.45
MCX Lead Jan: Rallies to 55.00 , 55.45 likely to find resistance and move lower towards 50.5 or even lower towards 49.00 levels.A rise above 55.75 to negate this bearish view. S1: 53.00 S2: 52.0 R1: 54.25 R2: 55.30
MCX Nickel Jan: Rallies to 545.00 ,548.00 likely to find resistance and move lower towards 516 or even lower towards 495 levels. A rise above 565 to negate this bearish view.S1:517 S2:500 R1:548 R2:561
MCX Natural Gas Feb: - Supports at 232 , 230 likely to hold dips for a move higher towards 243.0 levels. A move below 226 to negate this bullish view.S1: 227 S2: 223 R1: 241 R2: 247
MCX COPPER TREND NOT CLEAR BUT SUP AND RES ARE AS FOLLOWS:S1: 154 S2:150 R1: 162 R2:166
COMEX COPPER PIVOTS LEVELS: SUP-1 143.75 SUP-2 140 RES-1 154 RES -2 160.50 PIVOT 150.25 CMP 145.70 EXPECTATION SIDEWAYS AND MAY TEST SUPPORTS
COMEX GOLD PIVOTS: SUPPORT-1 843 SUPPORT-2 833 RES-1 864 RES-2 874 PIVOT - 854 CMP 852.50 EXPECTATION CORRECTIVE DIP TILL SUPPORT
FOREX EURO TECHNICALS:The pair returned to reach the 1.2840 level once again as it corrected to the upside between the 38.2% and 50.0% Fibonacci levels where there is a possibility to see a technical pattern to the upside with a neckline at 1.3020 with targets of breaching this level are at 1.3160 and 1.3200. A major resistance and pivot point for the pair is found at 1.3085 which was tested once yesterday where if successfully breached, the pair will target the key resistance for the upside channel at 1.3380
TRADING STRATERGY:Buy the pair above 1.3020 with targets at 1.3160 and stop loss with a four hour close below 1.2970
COMEX GOLD TECHNICAL VIEW:Gold is still moving in a tight range below the 61.8% at 852.00 levels as shown on the chart after failure to reach the extension target of the retrace from the lower line of the channel at 868.00 levels represented by the 76.4% Fibonacci. Most of the indicators show that the volume is too low without a clear signal up or down so they are neutral which means that the price explosion is on the way to relief the indicators. We expect that the price will move to the downside in particular if it broke the area between 845.00 and 842.00 then it will be a sign that the short term top is placed
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