VIEWS FOR 13TH JULY 2009

MCX Gold August: Bearish indications in the daily chart show that there is a good chance for the price todecline towards 14304 or 14229. Fall below 14372 would increase the chances for this fall. Resistance isseen at 14579-14645 . Price needs to rise past 14715 to lessen the scope for this decline.S1: 14390 S2: 14280 R1: 14590 R2: 14690

MCX Silver September: Resistances are at 21683 followed by 21952. Break above 21952 to trigger a sharprally higher towards 22900 levels.However, resistances at 21960 to be very strong and only a daily closeabove this level to re-inforce bullish expectations.S1: 21070 S2: 20800 R1: 21480 R2: 21750

MCX Copper August : Break above 243 to set the tone for a rally towards 249/250 levels. Daily close above 255.5 to open the upside again towards 266 or even higher. Fall below 235 to lessen the chances of bullishness.S1: 236 S2: 233 R1: 244 R2: 247

MCX Crude Oil August : Possibility of a corrective rise towards 3093/3145 area while price stays above 2900. Ideally the decline should continue after this corrective rally. If the rally exceeds 3275 then the chart might lookless bearish. S1: 2945 S2: 2920 R1: 3030 R2: 3060

MCX Zinc July: Rallies to 73.75/73.90 to find resistance for a move lower towards 72.0 levels . A rise above 74.85 to negate this bearish view. S1: 72.2 S2: 71.20 R1: 74.0 R2: 75.0

MCX Lead July : Rallies to 77.90/78.20 to find resistance for a move lower towards 76.0 levels . A rise above 79.25 to negate this bearish view. S1: 76.90 S2: 75.80 R1: 78.60 R2: 79.60

MCX Nickel July:Rally to 724/730 to find resistance for move lower toward 700 level . Rise above 737 to negate bearish view. S1:707 S2:690 R1: 730 R2: 744

MCX Natural Gas Aug : Break above 176 to take price toward 181 level. Fall below 173 to signal more bearishness ahead. S1: 170 S2: 167 R1: 175 R2: 178


GOLD MCX AUGUST ::

Trend line support is being witnessed. Support range is at 14443-14381
A fall below 14381 will show a sharper and sustained fall.
Resistance will be at 14524-14555.
Cover short positions at support of 14473-14443 as the opportunity arises.
A rise towards 14525-14555 range is possible.
If it sustains then lower top of 14624 could be tested.

SILVER MCX SEPTEMBER ::

The fall is in a regression channel as shown in the chart. Sell on rise to 21309-21493 with a stop loss of 21599.
Expect lower range of 21073-20889.
Sell further on fall below 21126 with high of the day stop loss or 21599 whichever is higher at the point of breakdown.

INTERNATIONAL SPOT GOLD ::

The price movement on Friday was an In Side Day. Therefore the support and resistance remain the same for Monday. Support is at 900$. On fall and close below 900$, expect the slide to continue towards 879$.
Resistance will be at 918$-925$.

INTERNATIONAL SPOT SILVER ::

A systematic fall is being witnessed in the falling channel below the blue color trend line. The 87.5% retracement level as indicated also was attained.
Support will be at 12.52$-12.42$.
Traders holding short positions can maintain a stop loss of 12.97$.
Resistance will be at 12.76$-12.97$.
Sell further on fall and close below 12.42$. If that happens then expect a slide down towards 12.03$.

NYMEX LIGHT CRUDE OIL ::

A correction down towards 38.2% is likely to be tested in days to come which are around 58$. Traders who are holding short positions can maintain a stop loss of 61.63$ to hold short positions.
Support will be at 58$-56$. Traders holding short positions can cover at support level range as the opportunity arises.


HG COPPER COMEX ::

The orange color trend line support is being witnessed. Support is at 214.2$-211$.
Sell on fall below 211$.
The resistance trend line is the yellow color trend line.
The lower top is placed at 236.5$.
Immediate last 2 days high is at 224.35$.
A rise above 225$ can take the price towards the yellow trend line which is placed at 231$.
Resistance will be at 231$-236$.