MCX Gold August: Daily chart suggests that while staying above 14713 it is more inclined to rise towards 15137. A push above 15199 could open the way for next level at 15450/15465. Overall the outlook is bullish. Supports are around 14807/14839 and 14745. It has to fall below 14698 to suggest that it could decline further towards 14588 or even 14510. Favored view expects the dips to stay above 14807 for next rise towards 15168/15199 or 15450/15465. S1: 14850 S2: 14730 R1: 15040 R2: 15140
MCX Silver September: Support at 22262 is crucial for the uptrend to sustain and rally towards 23279/23311 levels. Direct fall below 22613 to develop into a corrective fall 22158 at least with a possibility of extending towards 21687/21719 too. S1: 22500 S2: 22300 R1: 22930 R2: 23150
MCX Copper August : Our preferred target at 274 has been nearly met. Important support is at 266-267. Break below here to drag prices towards 255-257 levels.This our favored view now. However, direct rise above 272 could take prices higher towards 280. S1: 265 S2: 262 R1: 274 R2: 278
MCX Crude Oil August : Crucial support is at 3257-3265 now. While below 3320 look for a fall towards 3200 or even lower towards 3175 Direct rise above 3321 to dent our bearish expectations. S1: 3250 S2: 3190 R1: 3330 R2: 3390
MCX ZincJuly:Rally to 81.4/81.6 to take price lower toward 79.60/79.30 level. Rise above 82.75 to negate bearish view. S1:80.40 S2:79.60 R1:82.10 R2:83.30
MCX LeadJuly: While below 86.10, price may move down and test 83.70/83.30 level. Rise above 86.15 to negate bearish view. S1:83.50 S2:82.70 R1:84.20 R2:85.20
MCX Natural Gas August : Dips to 181/178 to find support for a move higher towards 194 levels . Fall below 167 to raise doubts S1: 180 S2: 177 R1: 186 R2: 190
MCX Nickel July : While below 820 , we can expect price to move lower towards 785/780 levels .rise above 820 to negate this bearish view. S1:797 S2:782 R1: 820 R2: 830
TRADING STRATEGY ::
MCX GOLD ::
Traders can hold long positions with a stop loss of 14865. Traders holding long position can take profit on rise to 14976-15012 as the opportunity arise. Fresh trading long positions can be undertaken on rise and close above 15012 with low of the day stop loss or 14865 whichever is lower at the point of breakout.
MCX SILVER:-
Traders can hold long positions with a stop loss of 22485. Traders can buy on rise and close above 22820 with low of the day stop loss or 22485 whichever is lower at the point of breakout. Subsequently, expect a rise towards 22969
SPOT GOLD:-
A rise above 957$ was witnessed but closed lower at 952.65$. The high registered yesterday was 958.7$. Traders who are into long positions can maintain a stop loss of 944$ or exit long at 952.6 to 959 as the opportunity arises. Fresh trading long can be added on rise and close above 959 with low of the day stop loss at the point of breakout.
SPOT SILVER::
Can hold long positions with a stop loss of 13.73$. Expect a rise towards 14.32$. Corrective dip to 13.89$ can be used for buying with a stop loss of 13.73$.
Nymex Crude(Sep):
Last 68.2 Buy 67.7, TGT 68.5, 69.6 Sell below 67.7, TGT66.6
Comex Copper (Sep):
Last 2.5525 Buy 2.54, TGT 2.57 Other entry points: Sell 2.57, Buy 2.49
ENJOY TRADING !!!!
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