VIEWS FOR 6TH JULY 2009

MCX Gold August: Crucial supports are at 14363 followed by 14301 now. Favored view expects supports to be held at this level and rise higher. However,unexpected fall below 14301 to raise doubt on our bullish view. Such fall could drag price lower toward 13959 level. S1: 14370 S2: 14280 R1: 14550 R2: 14650

MCX Silver Sep:Fall below 21534 show weakness. Near-term support at 21308 .Failure to hold support here could drag prices further lower.S1: 21530 S2: 21360 R1: 21780 R2: 21950

MCX Copper August : Fall below 242.7 has opened the downside for copper. Initial support is at 238.7. Failure to hold support here could drag prices further lower towards 233.10/235.2 levels. Resistances are at 242.7/243.8 now.S1: 239 S2: 235 R1: 245 R2: 248

MCX Crude Oil July : Strong support is seen at 3132. It looks like this support could be broken for next decline towards an important support at 3069 or possibly 3004. Failure to break below 3132 would suggest that the uptrend might still be intact and resume the bullishness again.

MCX Zinc July: Rallies to 75.10/75.30 likely to find resistance for a move lower towards 72.50 levels. Only a rise above 76.0 to negate this bullish view. S1: 73.5 S2: 72.40 R1: 75.4 R2: 76.5

MCX Lead July : Rallies to 81.80/82.10 likely to find resistance for a move lower towards 79.50 levels. Only a rise above 83.10 to negate this bullish view S1: 80.60 S2: 79.50 R1: 82.60 R2: 83.60

MCX Nickel July : Rallies to 776/781 likely to find resistance for a move lower towards 755 levels. Only a rise above 785 to negate this bullish view S1:760 S2:746 R1: 788 R2: 800

MCX Natural Gas July : Rallies to 179/181 likely to find resistance for a move lower towards 165 levels. Only a rise above 185 to negate this bullish view. S1: 170 S2: 167 R1: 179 R2: 183

GOLD MCX AUGUST ::

The trend line is held well on Gold chart as of Saturday’s session.
Support of 14407 not violated.
The price movement are getting narrower and moving within the converging lines.
Sell on fall below 14400 with high of the day stop loss.
Traders who are already short can keep a stop loss of 14581.

SILVER MCX SEPTEMBER ::

The volume registered last week was highest and larger.
The low registered last week was 21480.
Sell on fall below 21480 with high of the day stop loss at the point of breakdown.
Intra-day traders wait for rise above 21937 and when it falls below 21937 then sell with high above 21937 as the stop loss.

INTERNATIONAL SPOT GOLD ::

A sideways movement in a band of 950$-920$ is being witnessed with volatility. Overall objective can be to exit long and sell on rise with a stop loss of 950$.Support will be at 920$ and 910$.

INTERNATIONAL SPOT SILVER ::

A breakdown below 13.59$ and 13.46$ has been witnessed.
The blue color trend line has not been crossed.
Expect the 75% and 87.5% retracement level of 13.10$ and 12.57$ to be tested.
Resistance will be at 13.46$-13.59$-13.86$.
Traders who are short can maintain a stop loss of 13.86$.