VIEWS FOR THE WEEK STARTING FROM 8th JUNE 2009

VIEWS FOR THE WEEK STARTING FROM 8th JUNE 2009
MCX Gold August: Important resistance is at 14655-14670 levels now. Gold could be locked in a consolidation between 14500/14881 in the coming sessions.Price structures remain positive as long as 14225 support attempts to decline.S1: 14600 S2: 14495 R1: 14705 R2: 14810

MCX Silver July : Resistance will be seen at 24125/24205 levels now. An equality target for the present corrective decline lies at 22740. As long as 23940-24125 caps upside attempts we expect a decline towards 22740 in the coming sessions.S1: 23500 S2: 23120 R1: 23990 R2: 24365

MCX Crude Oil June: Near-term support is at 3200 for the uptrend to continue and rise towards 3400/3430. Stronger support is at 3120/3125 levels.Failure to hold support here could dent our bullish view. S1: 3200 S2: 3130 R1: 3280 R2: 3320

MCX Copper June: Break above resistance at 241-242 to open the way for a est of 256/257 levels in the coming sessions. Fall below 229 to dent our bullish expectations.S1: 234 S2: 230 R1: 242 R2: 247

MCX Zinc June: Rallies to 74.40/74.75 levels likely to find resistance for a move lower towards 71.50 levels .Only a rise above 75.10 to negate this bearish view.S1: 73.0 S2: 71.0 R1: 74.1 R2: 75.3

MCX Lead June : Rallies to 78.05/78.20 to find resistance for a move lower towards 76.00 levels.Only a rise above 78.60 to negate this bearish view. S1: 77.00 S2: 76.00 R1: 78.3 R2: 79.0

MCX Nickel June: Rallies to 657/ 660 likely to find resistance for a move lower towards 622/620 levels.Only a rise above 661 to negate this bearish view.S1:637 S2:625 R1: 668 R2: 690

MCX Natural Gas June : Until the support at 177 holds expect prices to move towards 195 levels. Close above 195 will confirm more bullishness .Fall below 173/174 will negate our view. S1: 177 S2: 173 R1: 188 R2: 192

TRADING STRATEGY FOR THE DAY ::
GOLD MCX AUGUST ::

Exit long positions on rise to 14713-14858 as the opportunity arises.
Re-enter long on rise and close above 14970.
Support will be at 14567-14520.
On fall and close below 14500 can take Gold towards 14375.
Traders can wait for a rise above 14858 and when it falls below 14858 then sell with high above 14858 as the stop loss.

SILVER MCX JULY ::

Traders holding long positions can maintain a stop loss of 23421.
Look for rise to 23885-24288 to take profit.
Re-enter long on rise and close above 24690.
Expect a correction on fall and close below 23420 as the trend line also will get violated.

INTERNATIONAL SPOT GOLD ::

Overall objective can be to exit long position and sell on rise to the resistance level.
Resistance will be at 963$-975$ with a stop loss of 990$.
On fall and close below 952$, expect a correction.
The trend line has been violated. A further fall and close below 952$ will bring about a correction of the rise from 864$ to 990$.
The retracement level in that case will be placed at 942$-927$-912$.

INTERNATIONAL SPOT SILVER ::

Support will be at 15.31$-15$.
Resistance will be at 15.65$-16.23$.
A sideways volatile movement is being witnessed.
If the support of 15$ is not violated then we could find price spike towards the resistance or could even test 16.40$.

ENJOY TRADING !!!!

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