INTERNATIONAL SPOT GOLD:-A breakdown and close below 1193$ has been witnessed.
Overall, traders can use rise to 1173$-1199$ to exit long positions.
Support is 1136$. A fall and close below 1136$ can see a sustained fall in price subsequently.
A lower top and lower bottom sequence could begin on fall and close above 1136$.
INTERNATIONAL SPOT SILVER:-Overall, traders can use rise from current level of 18.43$ to 19.46$ to exit long positions.
Support will be at 18.10$.
A negative divergence on RSI is in placed and we could see a near term slide in price therefore look for rise to exit long.
By chance if traders are short or intend to go short can keep a stop loss of 19.50$ and use rise to sell and exit.
NYMEX CRUDE:-Range defined for immediate near term is 79.1$-72$.
Buy on rise above 79.1$ or buy on dip towards 73-72.5$ with a stop loss 72$.
Traders long can look for rise from current price go 75.5-79.1$ to exit long and re-enter above 79.1$.
Overall price movement is sideways
NYMEX NATURAL GAS:-A wider sideways movement is being witnessed in the band of 5.32$ to 4$.
Lower range of 4.15$ can be used for buying with a stop loss of 3.99$.
Buy on rise above 4.68$ with low of the day stop loss or 4.43$.
Look for rise to 4.81$-5.32$ to exit long and take profit.
Re-enter long on rise and close above 5.32$ whenever is happens
LME TIN:-A flat and action less movement is being witnessed.
Traders can maintain a stop loss at 14950$ to hold long positions
A breakout and close above 15425$ can bring about some upside momentum
MCX GOLD TRADING STRATERGY:;-
The stop loss of 17953 has been violated.
Now, it looks that we have formed near term top at least.
Overall use rise to 17808-18035-18377 to exit long positions.
Support will be at 17466-17205.
A trend line is drawn on the chart. The violation of the same is likely
MCX SILVER TRADING STRATERGY:-
We had indicated to sell on fall below 28977 with high of the day stop loss at the point of breakdown.
The low registered yesterday was 28550; traders who managed to implement the sell had the opportunity to benefit.
Sell on rise to 28830-29111 with a stop loss of 29248.
Exit long on rise to 28830-29111-29486 as the opportunity arises
MCX Gold Feb: Corrective rallies towards 17930/18000 to find resistance for a fall lower towards 17250/17200 break above 18150 will negate this bearish view. S1: 17500 S2: 17250 R1: 17750 R2: 17950.
MCX Silver March: Rallies to 29060/29200 to cap for decline towards 28400 followed by 28250,break above 29500 will negate this bearish view. S1: 28550 S2: 28400 R1: 29000 R2: 29250.
MCX Copper Feb: Rallies to 333.50/334.50 to find resistance for a fall lower towards 324/325 break above 337.50 will negate this bearish view. S1:326.40 S2: 322.40 R1: 334.40 R2: 338.40.
MCX Crude Oil December: Supports between 3500/3475 could hold for next rise past 3590. Once above 3615 the outlook would start brightening up for a stronger rally towards levels above 3690. Fall below 3445/3440 is needed to change this expectation as such a dip could turn the picture bearish for further decline towards 3400 or 3375. S1: 3503 S2: 3463 R1: 3583 R2: 3623.
MCX Zinc Dec: Rallies to 110.5/111 to find resistance for a fall lower towards 106.5/106, break above 112 will negate this bearish view. S1: 108.20 S2: 106.50 R1: 111 R2: 112.70.
MCX Lead Dec: Rallies to 111.50/112 to find resistance for a fall lower towards 107.50/108,break above 114 will negate this bearish view.S1:108 S2:106 R1:112.00 R2:113.70
MCX Nickel Dec: Rallies to 765/770 to find resistance for a fall lower towards 730/725, break above 778 will negate this bearish view. S1: 738 S2: 728 R1: 762 R2: 778
MCX Natural Gas Dec: Dips to 211/213 to find support for a move higher towards 222/225, break below 205 will negate this bullish view. S1: 211 S2: 205 R1: 220 R2: 225
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