VIEWS FOR 27TH JULY 2009

MCX Gold August: Daily chart suggests that while staying above 14679 it is more inclined to rise towards 15101. A push above 15164 could open the way for next level at 15414/15429. Overall the outlook is bullish. Supports are around 14773/14804 & 14710. It has to fall below 14663 to suggest that it could decline further towards 14552 or even 14476.

MCX Silver September: Important support is at 22075. As long as this support holds we can expect a test of 22870 or even higher towards 23226. Direct fall below 22075 to lead to a corrective fall towards 21653 or even lower. S1: 22200 S2: 22000 R1: 22630 R2: 22850

MCX Copper August : Rise above 268- 270 to extend further towards 274- 276 levels. However, fall below 262 - 264 zone to lead into a corrective decline towards 258 followed by 250. S1: 265 S2: 262 R1: 273 R2: 276

MCX Crude Oil August : Chart is bullish for a rise towards 3365. Ideally it should start a pullback from there towards 3224. If it crosses above 3392 it could turn more bullish for next levels at 3474 or even 3527. Supports are near 3262 & 3234. It has to fall below 3195 to hint at the possibility of failure of this view. S1: 3230 S2: 3170 R1: 3320 R2: 3360

MCX Lead July : Rallies to 84.50 – 84.70 to find resistance for a move lower towards 83.0 – 82.8 levels. A rise above 85.10 levels to raise doubts about this view . S1: 83.50 S2: 82.70 R1: 84.20 R2: 85.20

MCX Zinc July: Rallies to 81.25 – 81.50 to find resistance for a move lower towards 79.5 – 79.8 levels. A rise above 82.10 levels to raise doubts about this view. S1: 79.75 S2: 78.60 R1: 81.50 R2: 82.60

GOLD MCX AUGUST ::

Traders can hold long positions with a stop loss of 14865.
Traders holding long position can take profit on rise to 14908-14938 as the opportunity arise.
Re-enter long on rise and close above 14993.
On fall and close below 14865, a retracement of the rise from 14421 to 14993 could be witnessed.
If that happens then expect a slide towards 14776-14708 range at least and may be to an outer extent to 14639 depending on the movement on the downside.
Traders can trade long on rise and close above 14993.

SILVER MCX SEPTEMBER ::

Traders can hold long positions with a stop loss of 22332.
Traders can buy on rise and close above 22579 with low of the day stop loss or 22332 whichever is lower at the point of breakout.
Subsequently, expect a rise towards 22651 as the opportunity arises.
A breakout above 22579 can take the price higher towards the upper channel line and 61.8% speed line marked on the chart which is around 22857.

GOLD SPOT INTERNATIONAL ::

A breakout and close above 957$ can take the price higher.
Traders who are short need to maintain a stop loss of 957$.
A fall and close below 944$ can confirm a near term minor correction or fall to test down the low of 904$.
If the fall below 944$ is witnessed then expect retracement of the rise from 904$ to 957$ at least if no the fall down to 904$.
The retracement levels are placed at 937$-931$-924$.

INTERNATIONAL SPOT SILVER ::

Traders can hold long positions with a stop loss of 13.60$.
On sustained rise above 13.90$, can take Silver towards the 50% retracement level which is at 14.32$.
Sell on fall and close below 13.60$ with high of the day stop loss at the point of breakdown.

HG COPPER COMEX ::

Resistance will be at 254$.
Traders holding long positions in COMEX can observe s top loss of 243$.
Expect a rise towards 276$ in days to come.