MCX Gold August: Resistances at 14541-14572 to cap for a decline towards 14261. This is our favored view. Unexpected rise above 14619 to cause doubts on this view. Such a rise could neutralize our bearishexpectations. S1: 14320 S2: 14250 R1: 14570 R2: 14650
MCX Silver September: Resistances at 22305/22337 to cap for a fall towards 21289. Unexpected rise above 22434 to cause doubts on our bearish view. S1: 21650 S2: 21400 R1: 22250 R2: 22500
MCX Copper June: Break below 242/243 changed the bullish picture. Any decline below 237 to drag pricesfurther lower. Resistance is at 246 followed by 250 levels now.S1: 239 S2: 236 R1: 246 R2: 249
MCX Crudeoil July:Strong resistance will be seen at 3471/3474 level now.Unexpected rise above 3520 to dent bearish expectation.S1:3295 S2:3260 R1:3380 R2:3415
MCX Zinc July: Rallies to 75.30/75.50 to find resistance for a move lower towards 72.40 levels . Rise above 76.20 to negate this bearish view S1: 73.30 S2: 72.40 R1: 75.30 R2: 76.45
MCX Lead July : Rallies to 81.40/81.55 to find resistance for a move lower towards 79.40 levels . Rise above 83.05 to negate this bearish view.S1: 80.60 S2: 79.50 R1: 82.30 R2: 83.60
MCX Nickel July:Rally to 747/751 to find resistance for move lower toward 718 level . Rise above 764 to negate this bearish view.S1:725 S2:710 R1:760 R2:775.
MCX Naturalgas July: Rally to 192/195 to find resistance for move lower toward 183 level. Rise above 198to negate bearish view. S1:182 S2:178 R1:189 R2:192
GOLD MCX AUGUST ::
The trend is down.
Sell at market price and on rise to Rs. 14494 – 14581 with stop loss of Rs. 14624.
Expect a fall towards Rs. 14364 – 14277.
Sell more on close below Rs. 14100.
As the trend is down, intra-day traders can wait for a rise above Rs. 14581 and when it fall below Rs. 14581, then sell with whatever high registered above Rs. 14581 as a stop loss. Subsequently, cover short at Rs. 14494 – Rs. 14364 range or below.
SILVER MCX SEPTEMBER ::
Sell on rise to 22097-22377 with a stop loss of 22550.
Expect lower range of 21644-21364 to be tested. A bounce can come from lower range.
Volumes were larger therefore a rise and close above 25550 can mark a reversal.
NYMEX LIGHT CRUDE OIL ::
The recent peak of 73.3$ was tested and reacted down to close at 69.89$.
Traders still long can take profit or exit long position on rise to 71.6$-73.3$ as the opportunity arises.
Re-enter long on rise and close above 73.50$.
Support will be at 68$-66$.
A fall and close below 66$, Crude Oil can undergo a correction with a fall in price.
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