VIEWS FOR 10TH JUNE 2009

MCX Gold August: As long as 14473/14503 holds support expect a move towards 14841/14871, break below 14458 would negate this bullish view.S1: 14520 S2: 14450 R1: 14680 R2: 14750

MCX Silver July : As long as 23090/23168 holds support expect a move towards 24178, break below 23012 will negate this bullish view. S1: 23360 S2: 23100 R1: 23768 R2: 24000

MCX Copper June: Dips to 243.85/241.20 to find support for a move higher towards 255, break below 237 will negate this bullish view. S1: 243 S2: 239 R1: 250 R2: 254.5

MCX Crude Oil June: Dips to 3288/3279 to find support for a move higher towards 3392/3415, break below 3232 would negate this bullish view. S1: 3255 S2: 3200 R1: 3340 R2: 3400

MCX Zinc June: Dips to 75.0/74.75 likely to find support for a move higher towards 78.20 levels . Only a fall below 74.00 to negate this bullish view. S1: 75.00 S2: 74.15 R1: 76.70 R2: 77.80

MCX Lead June : Dips to 81.35/81.00 likely to find support for a move higher towards 84.00 levels . Only a fall below 79.85 to raise doubts about this view. S1: 81.50 S2: 80.30 R1: 83.65 R2: 84.80

MCX Nickel June: Dips to 707/705 likely to find support for a move higher towards 730 levels. Only a fall below 686 to negate this bullish view. S1:705 S2:687 R1: 730 R2: 745

MCX Natural Gas June : Until the support at 168 holds expect prices to move towards 195 levels. Close above 195 will confirm more bullishness .Fall below 167 will negate our view. S1: 172 S2: 165 R1: 183 R2: 188

TRADING STRATEGY ::

GOLD MCX AUGUST ::

Support will be at 14553-14521.
Sell on fall and close below 14520.
Traders who are already short on Gold can cover short positions at 14553 or below as the opportunity arises.
Re-enter short on fall and close below 14520.
Resistance will be at 14681-14700.
Traders who are already holding short positions can maintain a stop loss of 14700.
Intra-day traders can wait for a rise above 14681 and when it falls below 14681 then sell with high above 14681 as the stop loss.

SILVER MCX JULY ::
Cover short positions at 23526-23284 as the opportunity arises and maintain a stop loss of 23848.
Sell further on fall and close below 23162 with high of the day stop loss.
Intra-day traders can wait for a rise above 23799 and when it falls below 23799 then sell with high above 23799 as the stop loss to cover at 23557 or below.

INTERNATIONAL SPOT GOLD ::

Resistance will be at 960-962$.
On rise above 962$ a pull back of the fall from 983.8 to 9242.8 is possible.
An attempt to test back the broken trend line will be attempted.
Traders holding short positions can cover at cmp of 958 or below.
Sell further only on fall below 942$.
Traders who are short need to maintain a stop loss of 962$.
Traders cant trade long on rise above 962$ with low of the day stop loss at the point of breakout.

ENJOY TRADING !!!!