VIEW FOR 30TH JUNE 2009

MCX Gold August: Resistance is a 14647-14678 levels. Ideally a consolidation in the 14493-14648 zone will be followed by a rise towards 14866 levels.This is our favored view. Fall below 14337 to cause doubts on our bullish view.S1: 14520 S2: 14420 R1: 14710 R2: 14820

MCX Silver September : Resistance is at 22636 followed by 22958 now. Break above resistances to take prices higher 23600.Supports are at 22092/22108.S1: 22050 S2: 21800 R1: 22550 R2: 22800

MCX Copper June: Rise above 247.85 looks positive for a rally towards 255/256 levels now. Favored view expects supports at 245.7 to hold for a rally higher. Fall below 242 to dent our bullish expectations. S1: 244 S2: 241 R1: 253 R2: 257

MCX CrudeoilJuly: Strong resistance seen at 3521/3524 level now. A good correction from those level can be expected. S1: 3400 S2: 3365 R1: 3485 R2: 3525

MCX Zinc July:While above 74.50, expect price to rally toward 77.70 level. Fall below 74.50 to negate bullish view. S1:74.30 S2:73.10 R1:76.30 R2:77.45

MCX Lead July:While above 81.00 , expect price to rally toward 83.30 level. Fall below 81.00 to negate bullish view. S1: 81.60 S2: 80.50 R1: 83.40 R2: 84.60

MCX Nickel July:Support at 758/755 to hold dip for rally toward 785/790 level. Fall below 740 to negate this bullish view. S1:745 S2:730 R1: 770 R2: 785

MCX Naturalgas July: Dip to 190/188 to hold for rise toward 202/206 level now. Fall below 185 to negate this bullish view. . S1: 190 S2: 187 R1: 195 R2: 199

TRADING STRATEGY ::

GOLD MCX AUGUST ::

Gold is struggling at the pink color trend line.
Resistance will be at 14654-14700.
Use rise to 14654-14700 to take profit and exit long positions if any.
On fall below 14553 expect a slide down towards red color trend line.

SILVER MCX SEPTEMBER ::

Sell on rise to 22443-22578 with a stop loss of 22665.
Expect lower range of 22221-22210 to be tested.
If the close is below 22200 then the slide can get extended.
A bounce back up from the support is possible.
A close above 22665 can mark a near term reversal.

INTERNATIONAL SPOT GOLD ::

Resistance will be at 943$-950$.
Traders can buy on rise above 950$ with low of the day stop loss.
Traders already holding long positions can take profit at resistance level and re-enter long on rise and close above 950$.
A correction down to 930$-922$ range is possible before attempts to cross 950$.

INTERNATIONAL SPOT SILVER ::

The blue color trend line was tested but failed to sustained and reacted down at the closing.
Support will be at 13.59$ which can be tested.
On sustained fall and close below 13.59$ the correction can get extended on the downside.
Resistance will be at 13.99$-14.4$.
A breakout and close above 14.4$ can only bring about a near term pullback rise.
Traders who are already holding long positions can look for resistance to exit long positions. Re-enter long on rise and close above 14.4$.

NYMEX LIGHT CRUDE OIL ::

Red color line is getting tested again.
The recent peak placed at 73.3$ which can be tested.
On breakout and close above 73.5$ with a positive candle can continue the rally after the short period of sideways correction.
Support will be at 70$-68$.

ENJOY TRADING !!!!!