VIEWS FOR 3RD SEPTEMBER ::: MCX AND COMEX VIEW WITH TRADING STRATERGY WITH LONG TERM OUTLOOK ON GOLD

MCX Gold Oct: Supports are at 15425 followed by 15346. Supports to hold for a test of 15758 or even higher. S1: 15458 S2: 15374 R1:15546 R2: 15602

MCX Silver December: Strong support is seen at 24628/24660 now. Dips to 24742 support for a test 25228 or even higher towards 25650. S1: 24210 S2: 23972 R1: 24540 R2: 24720

: MCX Copper Nov: Supports are at 298-299. Favoured view expects a pullback towards 308.75/311 levelswhile above 296.S1: 301 S2: 296 R1: 307 R2: 313

MCX Crude Oil Sept: Supports are at 3320 followed by 3298. Ideally, a pullback towards 3436 or even higher towards 3470 looks likely as long as supports hold. S1:3306 S2:3260 R1:3374 R2:3420

MCX Zinc sept: A rise above 89.75 could see a pullback to 90.60 / 91 levels. A fall below 87.50 would lessen a chance of a pullback and see prices move lower again. S1: 88.20 S2: 87.10 R1: 89.65 R2: 90.60

MCX Lead Sept: While above 101.50 prices could attempt to test resistance at 104.30 again. Fall below 101.40 to see prices edging lower. S1:102.20 S2: 101.40 R1:103.40 R2:104.30

MCX Nickel Sept: A rise above 900 could see a pullback to 920 / 930 levels. A fall below 872 would lessen a chanceof a pullback and see prices move lower again. S1:871 S2:854 R1:900 R2:922

MCX Natural Gas Sept: While below 150 prices could stay under pressure. Prices are still oversold but a breach of 150 levels would be required to spark a corrective rally towards 166 levels. Supports are at 132/130 levels now.S1:132 S2:128.30 R1:140 R2:144.80

Comex Gold Dec: Supports are at 972 followed by 967. Supports to hold for a test of 993 or even higher. aadianant4u: Comex Silver Dec: Strong support is seen at 15.18/20 now. Dips to 15.25 support for a test 15.55 or even higher towards 15.81.

Nymex Crude Oct: Supports are at 67.65 followed by 67.05. Ideally, a pullback towards 69.85 or even highertowards 70.55 looks likely as long as supports hold.

Comex Copper Dec: Supports are at 275-76. Favored view expects a pullback towards 285/87 levels while above 273

mcx trading startegy:-Corrective dip to 15415-15284 range can be used for buying.
The price movement yesterday was large therefore we could see intra-day dip to support level of 15415 or below.
Intra-day traders in order to minimize risk can wait for a fall below 15415 and if it rises above 15415 then buy with low below 15415 as the stop loss at the point of recovery.
Expect higher range of 15650-15781 to be tested

mcx silver trading startergy;-Corrective dip to 24785-24469 can be used for buying with stop loss of 24300.
In order to reduce the risk, traders can wait for a fall below 24785 and rises above 24785 then buy with low below 24785 as the stop loss.
Expect higher range of 25269-25586 to be tested

LONG TERM OUTLOOK ON GOLD;-(VIEW GIVEN ON 28TH OF AUG WHEN GOLD TRADING AT 943):-GOLD AS FORMED A PENANT FLAG, SUGGESTING AN UPSIDE BREAKOUT IS CLOSE AT HAND. THE DIRECTION OF THIS PRICE GOING IN TO THIS PATTERN SHOULD BE THE SAME DIRECTION AS PRICE LEAVES THIS PATTERN WITH AN UPSIDE TARGET EQUAL TO THE LENGTH OF THE FLAG POLL. THAT GIVES AN UPSIDE PRICE TARGET OF 1325, WHICH IS PRECISELY THE SAME UPSIDE TARGET OF AN INDEPENDENT PATTERN WHICH WE HAVE BEEN SHOWING FOR THE WEEKS THE BULLISH AND SHOULDER BOTTOM. GOLD HAS ALSO NEARLY COMPLETED A VERY HEAD AND SHOULDER BOTTOM THE UPSIDE TARGET IS 1325 AND THE PROBABILITY OF REACHING THAT LEVEL RISES DRAMATICALLY WITH AN UPSIDE BREAKOUT ABOVE 1050. NOW STRONG SUPPORT FOR THIS VIEW AT 905 AND 880 AS LONG GOLD HOLDS THIS SUPPORT MARKET WILL BE IN BULLISH ZONE BUYING IN CORRECTIVE DIPS IS ONLY GOOD MARKET EDITOR NITESH JAIN