VIEWS FOR 12TH JUNE 2009

MCX Gold August: Prices are consolidating between 14759 and 14391 as of now. Break of the range will decide the direction.Only a break above 14773 will be a bullish sign. S1: 14550 S2: 14470 R1: 14740 R2: 14860

MCX Silver July : Dips to 23454/23532 could find support for a move higher towards 24414/24460, breakbelow 23144 will be a bearish sign. S1: 23750 S2: 23500 R1: 24200 R2: 24550

MCX Copper June: Dip to 253/254 to find resistance for fall lower toward 263/265; break below 250.2 will negate bullish view. S1: 251 S2: 248 R1: 258 R2: 263

MCX Crude Oil June: As long as 3431 holds support expect move toward 3557/3585, break below 3400will be bearish sign. S1: 3400 S2: 3350 R1: 3500 R2: 3540

MCX Zinc June: Dips to 79.00 / 78.50 likely to find support for a move higher towards 82.00 levels now. Only a fall below 77.80 to negate this bullish view. S1: 79.10 S2: 78.15 R1: 81.00 R2: 82.40

MCX Lead June : Dips to 82.65/82.30 likely to find support for a move higher towards 87.50 level now. Only a fall below 81.00 to negate this bullish view.S1: 84.50 S2: 83.00 R1: 86.70 R2: 87.60

MCX Nickel June: Dips to 736/733 likely to find support for a move higher towards 760 levels now. Only a fall below 718 to negate this bullish view. S1:732 S2:720 R1: 763 R2: 775

MCX Natural Gas June : Dips to 184.0/182.0 likely to find support for a move higher towards 201 levelsnow. Only a fall below 174 to negate this bullish view now. S1: 184 S2: 180 R1: 191 R2: 196

TRADING STRATEGY ::

GOLD MCX AUGUST :: Cover short positions on dip to 14628-14562 as the opportunity arises.
Intra-day traders can wait for a rise above 14731 and when it falls below 14731 then sell with high above 14731 as the stop loss.
A rise towards 14731-14797 is likely but need to be seen if it an sustain

SILVER MCX JULY :: Expect a rise towards 24171-24939.
Overall use rise to 24171-24393 to exit pending stuck up long positions.
The nature of movement is sideways therefore twin strategy can be adopted as per individual comfort.
Traders can buy on corrective dip to 23795-23573 with a stop loss of 23420.
Intra-day traders can wait for a rise above 24171 and when it falls below 24171 then sell with high above 24171 as the stop loss to cover at 23948-23795 range.
Sell further on fall and close below 23420

INT. SPOT GOLD :: A sideways movement for last 3-4 trading days in the range of 966$-940$ is being witnessed.
Traders holding short positions can cover at current price to 940$ range as the opportunity arises.
Sell further on fall and close below 940$.
If that happens then expect a slide towards the 50% and 61.8% retracement levels of 927$ and 912$.
Resistance is at 961$-966$.
A rise and close above 966$ can imitate a pullback of the fall from 990$-942$.

INT. SPOT SILVER :: Immediate resistance is at 15.51$.
On rise above 15.51$, expect rise towards 15.66$-15.85$-16.04$.
Support will be at 15.16$-14.94$.
Corrective dip to 15.16$ can be used for buying with as stop loss of 14.94$.
Overall, traders can use rise to exit long and take profit if any at resistance level of 15.66$-16.04$.
Sell on fall and close below 14.94$ as trend line violation could be witnessed.

NYMEX LIGHT CRUDE OIL :: A channeled up move in Crude Oil is being witnessed.
Expect a rise to move towards 76-79$ in days to come.
Support will be at 71.8$-71.3$-70.4$-70$.
Overall hold long positions with a stop loss of 70$.
Corrective dip to 71.80$-71.3$ can be used for buying.
We had indicated earlier when 60$ was crossed the first range was 66-69$ and the next was 76-79$.
The first has been crossed and now we are gradually heading towards 76$-79$ in a channeled up move.

ENJOY TRADING !!!!