MCX Gold Feb: Yesterdays low and a subsequent bounce back from there indicates a possible near-term bottom. Supports are at 12901 followed by 12790 now for an initial rally towards 13186/13235. Break above could revisit 13807 levels again. S1: 12700 S2: 12650 R1: 12980 R2: 13150
MCX Silver Mar: Supports are at 17677 followed by 17500. Supports to hold for a 18333/18420 followed by 18955 now. S1:17300 S2:17050 R1:17900 R2:18320
MCX Copper February: Still in a broad range showing a potential to rise higher. Rise above 170 to trigger a bullish move now for our target at 193. Only a direct fall below 154 to dent our bullish hopes. S1: 158 S2:154 R1: 166 R2:171
Friday, January 16, 2009
Thursday, January 15, 2009
VIEWS FOR 15-01-2009
MCX Gold Feb: As expected failure to cross 13134 led to a fall. The fall could extend lower towards 12534.5 levels ideally. Resistances are at 12867 followed by 13000.S1: 12785 S2: 12710 R1: 12925 R2: 13000
MCX Silver Mar: Failure to rise past 18204/18288 is a bearish sign. The fall is expected to extend towards 16851/16858 levels now as long as resistances at 17903 and 18204 caps the upside. S1:17300 S2:17050 R1:17800 R2:18120
MCX Copper February: Has bounced back reinforcing bullish hopes.Direct rise above 175.0 to test 191.0 levels again. Supports are at 162.0 followed by 156.0.S1: 158 S2:154 R1: 165 R2:169
MCX Crude Oil Feb : Initially we could see prices rising towards resistance levels at 2188 -2205 from there prices could turn back lower towards 1948 -1925. A rise above 2273 to negate this bearish view. S1: 2100 S2: 2045 R1: 2200 R2: 2255
MCX Zinc Jan: - Expect Rallies to 62.25/62.45 to find resistance for a move lower towards 58.25 or even lower towards 57.65 levels. Only a rise above 63.35 to negate this bearish view. S1: 60.00 S2: 58.95 R1: 62.05 R2: 63.10
MCX Lead Jan: Expect Rallies to 57.05/57.65 to find resistance for a move lower towards 52.25. Only a rise above 58.00 to negate this bearish view.S1: 54.65 S2: 53.45 R1: 56.45 R2: 57.55
MCX Natural Gas Jan: - Expect Rallies to 253.0/256.0 to find resistance for a move lower towards 235.0 or even lower towards 230.0 levels. Only a rise above 257.0 to negate this bearish view. S1: 239 S2: 234 R1:251 R2: 257
MCX Silver Mar: Failure to rise past 18204/18288 is a bearish sign. The fall is expected to extend towards 16851/16858 levels now as long as resistances at 17903 and 18204 caps the upside. S1:17300 S2:17050 R1:17800 R2:18120
MCX Copper February: Has bounced back reinforcing bullish hopes.Direct rise above 175.0 to test 191.0 levels again. Supports are at 162.0 followed by 156.0.S1: 158 S2:154 R1: 165 R2:169
MCX Crude Oil Feb : Initially we could see prices rising towards resistance levels at 2188 -2205 from there prices could turn back lower towards 1948 -1925. A rise above 2273 to negate this bearish view. S1: 2100 S2: 2045 R1: 2200 R2: 2255
MCX Zinc Jan: - Expect Rallies to 62.25/62.45 to find resistance for a move lower towards 58.25 or even lower towards 57.65 levels. Only a rise above 63.35 to negate this bearish view. S1: 60.00 S2: 58.95 R1: 62.05 R2: 63.10
MCX Lead Jan: Expect Rallies to 57.05/57.65 to find resistance for a move lower towards 52.25. Only a rise above 58.00 to negate this bearish view.S1: 54.65 S2: 53.45 R1: 56.45 R2: 57.55
MCX Natural Gas Jan: - Expect Rallies to 253.0/256.0 to find resistance for a move lower towards 235.0 or even lower towards 230.0 levels. Only a rise above 257.0 to negate this bearish view. S1: 239 S2: 234 R1:251 R2: 257
Wednesday, January 14, 2009
VIEWS FOR 14-01-2009 -- HAPPY MAKAR SANKRANTI
MCX Gold Feb: Ideally support in the 12783/12815 zone to hold now for a pullback towards 13210 levels. Failure to rise above 13082 to put prices in danger of a further sell-off towards 12736 or even lower towards 12470.S1: 12900 S2: 12830 R1: 13050 R2: 13135
MCX Silver Mar: Rise above 18006 to trigger a corrective rally towards 18587/18670 levels .Supports are at 17591 followed by 17458.S1:17600 S2:17350 R1:18200 R2:18620
MCX Copper February: Has bounced back quite strongly reinforcing bullish hopes. Direct rise above 174 to test 190 levels again.Supports are at 160.6 followed by 155. S1: 162 S2:158 R1: 172 R2:17
MCX Crude Oil Feb : Supports are at 2187/2163 followed by 2117.Ideally price should rise again towards 2307/2327 or even higher. S1: 2140 S2: 2100 R1: 2245 R2: 2290
MCX Zinc Jan: - Expect dips to 61.40 60.95 to find support for prices to move higher towards 64.50 levels.Only a fall below 60.00 to negate this bullish view. S1: 62.00 S2: 61.15 R1: 64.65 R2: 65.75
MCX Nickel Jan: As long as 527.0 535.00 levels support expect prices to move higher towards 575.0 585.0 levels .Only a fall below 524.0 to negate this bullish view. S1: 524 S2: 508 R1: 565 R2: 587
MCX Lead Jan: As long as 56.10 , 55.90 levels support expect prices to move higher towards 60.0,61.5 levels .Only a fall below 55.00 to negate this bullish view. S1: 57.00 S2: 56.00 R1: 58.80 R2: 60.00
MCX Natural Gas Jan :- As long as 267.0- 270.0 levels resist expect prices to move lower towards 252.0 levels.Only a rise above 272.0 to negate this bearish view. S1: 268 S2: 262 R1: 281 R2: 288
MCX Silver Mar: Rise above 18006 to trigger a corrective rally towards 18587/18670 levels .Supports are at 17591 followed by 17458.S1:17600 S2:17350 R1:18200 R2:18620
MCX Copper February: Has bounced back quite strongly reinforcing bullish hopes. Direct rise above 174 to test 190 levels again.Supports are at 160.6 followed by 155. S1: 162 S2:158 R1: 172 R2:17
MCX Crude Oil Feb : Supports are at 2187/2163 followed by 2117.Ideally price should rise again towards 2307/2327 or even higher. S1: 2140 S2: 2100 R1: 2245 R2: 2290
MCX Zinc Jan: - Expect dips to 61.40 60.95 to find support for prices to move higher towards 64.50 levels.Only a fall below 60.00 to negate this bullish view. S1: 62.00 S2: 61.15 R1: 64.65 R2: 65.75
MCX Nickel Jan: As long as 527.0 535.00 levels support expect prices to move higher towards 575.0 585.0 levels .Only a fall below 524.0 to negate this bullish view. S1: 524 S2: 508 R1: 565 R2: 587
MCX Lead Jan: As long as 56.10 , 55.90 levels support expect prices to move higher towards 60.0,61.5 levels .Only a fall below 55.00 to negate this bullish view. S1: 57.00 S2: 56.00 R1: 58.80 R2: 60.00
MCX Natural Gas Jan :- As long as 267.0- 270.0 levels resist expect prices to move lower towards 252.0 levels.Only a rise above 272.0 to negate this bearish view. S1: 268 S2: 262 R1: 281 R2: 288
Tuesday, January 13, 2009
VIEWS FOR 13-01-2009
MCX Gold Feb:- Fall below 13152 led the way for a fall towards 12855 levels. Ideally resistance will be seen at 13152 levels now followed by 13220 for a fall towards 12490. Only a direct rise above 13500 will change the view to bullish. S1:12920 S2: 12845 R1: 13080 R2: 13175
MCX Silver Mar:- As expected a fall towards 17900 was seen. Any rallies to 18125 to find good resistance now. Structure looks positive for a bullish move towards 20530 as long as 17281/17363 holds. S1: 17800 S2: 17350 R1:18400 R2: 18720.
MCX Crude Oil Jan: Structure is bearish and favoured a fall towards 1786/1812 region. Extention to 1678 also is possible. Up ticks if any could be contained between 1863 & 1890. It needs to cross above 1915 to hint a slightly stronger recovery. S1: 1815 S2: 1765 R1: 1905 R2: 1960
NYMEX CRUDE TECHNICALS:Crude continues to trade within a descending channel targeting the 34.80 level as an initial target before reaching 32.25. The 36.85 level which is a pivot point separating the upside from downside movements where trading below this level will allow crude to reach the target faster. We need to keep a lookout for the 36.40 level which is a support level for the minor channel which could be a correction point before continuing to fall. The trading range for today is among the key support at 32.25 and the key resistance at 38.40
MCX Silver Mar:- As expected a fall towards 17900 was seen. Any rallies to 18125 to find good resistance now. Structure looks positive for a bullish move towards 20530 as long as 17281/17363 holds. S1: 17800 S2: 17350 R1:18400 R2: 18720.
MCX Crude Oil Jan: Structure is bearish and favoured a fall towards 1786/1812 region. Extention to 1678 also is possible. Up ticks if any could be contained between 1863 & 1890. It needs to cross above 1915 to hint a slightly stronger recovery. S1: 1815 S2: 1765 R1: 1905 R2: 1960
NYMEX CRUDE TECHNICALS:Crude continues to trade within a descending channel targeting the 34.80 level as an initial target before reaching 32.25. The 36.85 level which is a pivot point separating the upside from downside movements where trading below this level will allow crude to reach the target faster. We need to keep a lookout for the 36.40 level which is a support level for the minor channel which could be a correction point before continuing to fall. The trading range for today is among the key support at 32.25 and the key resistance at 38.40
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