VIEWS FOR 10TH JULY 2009

MCX Gold August: Rallies to 14553/14568 to find resistance for a fall lower towards 14235/14204; break above 14662 will negate this bearish view.S1: 14390 S2: 14280 R1: 14590 R2: 14690

MCX Silver September: As long as 21135 holds support expect an up move towards 21883/ 21995, breakbelow 21100 will negate this bullish view. S1: 21370 S2: 21160 R1: 21780 R2: 22050

MCX Copper Aug: Dip to 236.6/237.8 to find support for move higher toward 244/245, break below 233.5to negate bullish view. S1: 237 S2: 235 R1: 244 R2: 247

MCX Crude Oil July : Dips to 2874 followed by 2846 to find support for an up move towards 3005/3025, break below 2806 to negate this bullish view.S1: 2885 S2: 2830 R1: 2945 R2: 2985

MCX Zinc July: Supports at 74.20/74.0 . A break above 74.85 to take price towards 76.30 levels now.Only a fall below 72.85 to signal continuation of bearish move. S1: 73.0 S2: 72.20 R1: 74.7 R2: 75.8

MCX Lead July : Supports at 78.60 /78.40 . A break above 79.15 to take price towards 80.30 levels now. Only a fall below 77.75 to signal continuation of bearish move. S1: 77.90 S2: 76.80 R1: 79.60 R2: 80.60

MCX Nickel July : Supports at 722 / 718 . A break above 742 to take price towards 760 levels now. Onlya fall below 710 to signal continuation of bearish move. S1:710 S2:700 R1: 735 R2: 748

MCX Natural Gas July : Buy on the break of 171 , S/L 165.2 , TGT 180 S1: 162 S2: 158 R1: 171 R2: 174


TRADING STRATEGY ::

GOLD MCX AUGUST ::

Trend line support is being witnessed.
Support range is at 14481-14400.
A fall below 14400 will show a sharper and sustained fall.
Resistance will be at 14524-14624.
Intra-day traders can wait for a rise above 14524 and when it falls below 14524 then sell with high above 14524 as the stop loss.

INTERNATIONAL SPOT GOLD ::

Support is at 900$. On fall and close below 900$, expect the slide to continue towards 879$.
Resistance will be at 918$-925$.


INT. SPOT SILVER ::

Hold short positions with a stop loss of 13.15$.
A channeled fall is being witnessed. The price movement has been below the blue color trend line as shown in the chart.
Sell on fall and close below 12.73$ with a stop loss of 13.15$.
Expect lower range of 12.54$ to be tested.


NYMEX LIGHT CRUDE OIL ::

A correction down towards 38.2% is likely to be tested in days to come which are around 58$.
Traders who are holding short positions can maintain a stop loss of 63$ to hold short positions.
Sell on fall and close below 59.20$ with high of the day stop loss or 63$ whichever is higher.

ENJOY TRADING !!!!