MCX Gold Feb:The 13276-13291 zone to support any dips presently. Ideally, a broad range needs to be established before a breakout higher towards 14191 levels Unexpected fall below 13260 to have bearish implications.S1: 13475 S2: 13400 R1: 13610 R2: 13695
MCX Silver Mar: Supports are at 18231 followed by 18068. Direct fall below 18035/18067 to result in a corrective decline towards 17740/17743 levels.Favored view expects supports at 18035/18067 to hold and rise towards potential target at 19294.S1:18300 S2:18120 R1:18750 R2:18900
MCX Copper February: Fall below 155 denotes bearishness now. We could see a pullback towards 159/160 levels now, but rallies should be capped here for a decline towards 148.2. Unexpected rise above 163.6 to re-inforce bullish hopes.S1: 149 S2:145 R1: 157 R2:161
MCX Crude Oil Feb : As expected we saw a test of 2210 levels. The subsequent fall from there has bearish implications. Supports are at around 2062/2067 levels now. Break below yesterday's low could take prices even lower towards 1830 levels.S1: 2000 S2: 1965 R1: 2100 R2: 2195
MCX Zinc Jan: - Rallies to 55.35 ,55.85 likely to find resistance for a move lower towards 52.30 ,51.00 levels again. Only a rise above 56.5 to negate this bearish view. S1: 53.3 S2: 52.15 R1: 55.35 R2: 56.45
MCX Lead Jan: Rallies to 53.55 , 53.65 likely to find resistance and move lower towards 49.5 or even lower towards 48.00 levels. A rise above 54.75 to negate this bearish view. S1: 51.00 S2: 50.00 R1: 53.25 R2: 54.30
MCX Nickel Jan: Rallies to 545.00, 548.00 likely to find resistance and move lower towards 516 or even lower towards 495 levels. A rise above 565 to negate this bearish view. S1: 525 S2: 507 R1: 559 R2: 573
MCX Natural Gas Feb: - Rallies to 233.0 , 235 likely to find resistance for a move lower towards 215 levels. A rise above 237.0 to negate this bearish view.S1: 217 S2: 209 R1: 236 R2: 247
COMEX GOLD PIVOT; SUP-1 845 SUP-2 835 PIVOT - 854 RES-1 865 RES-2 873 EXPECTATION POSITIVE PROFIT BOOKING AT HIGHER LEVELS IS GOOD
CRUDE SUPPORT AT 38-40 RES SEEN AT 45 TRADING STRATERGY BUY ON DIPS WITH SL 38 ABV 45 EXPECT A TEST OF 50 IN NEAR TERM BUY NEAR SUPPORT
Friday, January 23, 2009
Thursday, January 22, 2009
VIEWS FOR 22nd JANUARY 2009
MCX Gold Feb: The 13297 - 13313 zone to support any dips presently. Ideally, a broad range needs to be established before a breakout higher towards 14213 levels. Unexpected fall below 13281 to have bearish implications.S1: 13400 S2: 13335 R1: 13535 R2: 13600
MCX Silver Mar: Supports are at 18361 followed by 18196. Direct fall below 18163/18196 to result in a corrective decline towards 17867/17900 levels.Favored view expects supports at 18163/18196 to hold and rise towards potential target at 19431. S1:18300 S2:18120 R1:18750 R2:18900
MCX Crude Oil Feb : Rise above 2185 to go for 2291 levels now or even higher towards 2382. Supports are at 2130 followed by 2085. Fall below 2078 to dent our bullish view. S1: 2065 S2: 2035 R1: 2165 R2: 2285
MCX Zinc Jan: - Rallies to 57.35 ,58.35 likely to find resistance for a move lower towards 54.30 ,53.00 levels again. Only a rise above 59.0 to negate this bearish view. S1: 55.0 S2: 54.0 R1: 56.35 R2: 57.45
MCX Lead Jan: Rallies to 55.00 , 55.45 likely to find resistance and move lower towards 50.5 or even lower towards 49.00 levels.A rise above 55.75 to negate this bearish view. S1: 53.00 S2: 52.0 R1: 54.25 R2: 55.30
MCX Nickel Jan: Rallies to 545.00 ,548.00 likely to find resistance and move lower towards 516 or even lower towards 495 levels. A rise above 565 to negate this bearish view.S1:517 S2:500 R1:548 R2:561
MCX Natural Gas Feb: - Supports at 232 , 230 likely to hold dips for a move higher towards 243.0 levels. A move below 226 to negate this bullish view.S1: 227 S2: 223 R1: 241 R2: 247
MCX COPPER TREND NOT CLEAR BUT SUP AND RES ARE AS FOLLOWS:S1: 154 S2:150 R1: 162 R2:166
COMEX COPPER PIVOTS LEVELS: SUP-1 143.75 SUP-2 140 RES-1 154 RES -2 160.50 PIVOT 150.25 CMP 145.70 EXPECTATION SIDEWAYS AND MAY TEST SUPPORTS
COMEX GOLD PIVOTS: SUPPORT-1 843 SUPPORT-2 833 RES-1 864 RES-2 874 PIVOT - 854 CMP 852.50 EXPECTATION CORRECTIVE DIP TILL SUPPORT
MCX Silver Mar: Supports are at 18361 followed by 18196. Direct fall below 18163/18196 to result in a corrective decline towards 17867/17900 levels.Favored view expects supports at 18163/18196 to hold and rise towards potential target at 19431. S1:18300 S2:18120 R1:18750 R2:18900
MCX Crude Oil Feb : Rise above 2185 to go for 2291 levels now or even higher towards 2382. Supports are at 2130 followed by 2085. Fall below 2078 to dent our bullish view. S1: 2065 S2: 2035 R1: 2165 R2: 2285
MCX Zinc Jan: - Rallies to 57.35 ,58.35 likely to find resistance for a move lower towards 54.30 ,53.00 levels again. Only a rise above 59.0 to negate this bearish view. S1: 55.0 S2: 54.0 R1: 56.35 R2: 57.45
MCX Lead Jan: Rallies to 55.00 , 55.45 likely to find resistance and move lower towards 50.5 or even lower towards 49.00 levels.A rise above 55.75 to negate this bearish view. S1: 53.00 S2: 52.0 R1: 54.25 R2: 55.30
MCX Nickel Jan: Rallies to 545.00 ,548.00 likely to find resistance and move lower towards 516 or even lower towards 495 levels. A rise above 565 to negate this bearish view.S1:517 S2:500 R1:548 R2:561
MCX Natural Gas Feb: - Supports at 232 , 230 likely to hold dips for a move higher towards 243.0 levels. A move below 226 to negate this bullish view.S1: 227 S2: 223 R1: 241 R2: 247
MCX COPPER TREND NOT CLEAR BUT SUP AND RES ARE AS FOLLOWS:S1: 154 S2:150 R1: 162 R2:166
COMEX COPPER PIVOTS LEVELS: SUP-1 143.75 SUP-2 140 RES-1 154 RES -2 160.50 PIVOT 150.25 CMP 145.70 EXPECTATION SIDEWAYS AND MAY TEST SUPPORTS
COMEX GOLD PIVOTS: SUPPORT-1 843 SUPPORT-2 833 RES-1 864 RES-2 874 PIVOT - 854 CMP 852.50 EXPECTATION CORRECTIVE DIP TILL SUPPORT
FOREX EURO TECHNICALS:The pair returned to reach the 1.2840 level once again as it corrected to the upside between the 38.2% and 50.0% Fibonacci levels where there is a possibility to see a technical pattern to the upside with a neckline at 1.3020 with targets of breaching this level are at 1.3160 and 1.3200. A major resistance and pivot point for the pair is found at 1.3085 which was tested once yesterday where if successfully breached, the pair will target the key resistance for the upside channel at 1.3380
TRADING STRATERGY:Buy the pair above 1.3020 with targets at 1.3160 and stop loss with a four hour close below 1.2970
COMEX GOLD TECHNICAL VIEW:Gold is still moving in a tight range below the 61.8% at 852.00 levels as shown on the chart after failure to reach the extension target of the retrace from the lower line of the channel at 868.00 levels represented by the 76.4% Fibonacci. Most of the indicators show that the volume is too low without a clear signal up or down so they are neutral which means that the price explosion is on the way to relief the indicators. We expect that the price will move to the downside in particular if it broke the area between 845.00 and 842.00 then it will be a sign that the short term top is placed
Wednesday, January 21, 2009
VIEWS FOR 21st JANUARY 2009
MCX Gold Feb: Our anticipated upside targets were tested. Either a consolidation or a corrective pullback towards 1322713259 levels look likely. Ideally supports should hold and take out the important resistance at 13635/13651 now. S1: 13420 S2: 13350 R1: 13575 R2: 13670
MCX Silver Mar: After a test of 18050 we saw silver futures rising higher again and finding resistance at the trend line at 18623/18705.Ideally 18052/18133 to hold for a test of 18983 Unexpected fall below 17806 to dent our bullish view. S1:18150 S2:17950 R1:18600 R2:18820
MCX Copper February: Still in a broad range btw 156 to 176. Break either side to determine direction.Favored view expects a break higher. S1: 160 S2:156 R1: 168 R2:172
MCX Crude Oil Feb : Resistances are at 2066 followed by 2122 now. Ideally, resistances to cap for a decline towards 1856.Rise above 2137 to change the picture to bullish. S1: 1975 S2: 1932 R1: 2085 R2: 2135
MCX Zinc Jan: - Up ticks to 60.75 or upto 60.95 likely to find resistance for a move lower towards 57.5 or even lower towards 56.0 levels.Only a rise above 61.55 to negate this bearish view.
S1: 58.75 S2: 57.65 R1: 61.00 R2: 62.10
MCX Lead Jan: Rallies to 57.25, 57.75 likely to find resistance and move lower towards 54.5 or even lower towards 53.00 levels. A rise above 58.65 to negate this bearish view.
S1: 55.10 S2: 54.00 R1: 57.25 R2: 58.30
MCX Nickel Jan: Mild bullishness seen for the test of 577 , 582 as long as 536 levels hold. A fall below 523.0 to negate this bullish view.S1: 535 S2: 517 R1: 562 R2: 579
MCX Silver Mar: After a test of 18050 we saw silver futures rising higher again and finding resistance at the trend line at 18623/18705.Ideally 18052/18133 to hold for a test of 18983 Unexpected fall below 17806 to dent our bullish view. S1:18150 S2:17950 R1:18600 R2:18820
MCX Copper February: Still in a broad range btw 156 to 176. Break either side to determine direction.Favored view expects a break higher. S1: 160 S2:156 R1: 168 R2:172
MCX Crude Oil Feb : Resistances are at 2066 followed by 2122 now. Ideally, resistances to cap for a decline towards 1856.Rise above 2137 to change the picture to bullish. S1: 1975 S2: 1932 R1: 2085 R2: 2135
MCX Zinc Jan: - Up ticks to 60.75 or upto 60.95 likely to find resistance for a move lower towards 57.5 or even lower towards 56.0 levels.Only a rise above 61.55 to negate this bearish view.
S1: 58.75 S2: 57.65 R1: 61.00 R2: 62.10
MCX Lead Jan: Rallies to 57.25, 57.75 likely to find resistance and move lower towards 54.5 or even lower towards 53.00 levels. A rise above 58.65 to negate this bearish view.
S1: 55.10 S2: 54.00 R1: 57.25 R2: 58.30
MCX Nickel Jan: Mild bullishness seen for the test of 577 , 582 as long as 536 levels hold. A fall below 523.0 to negate this bullish view.S1: 535 S2: 517 R1: 562 R2: 579
Tuesday, January 20, 2009
VIEWS FOR 20-01-2009
MCX Gold Feb: Expect supports at 12987 followed by 12909 to hold for a rally towards 13284 followed by 13378,only a break below 12752 would negate this bullish view.S1: 13000 S2: 12935 R1: 13165 R2: 13228.
MCX Silver Mar: Expect dips to find support towards 17892 followed by 17696 for a rally towards 18937 followed by 19182, break above 19215 will be a bullish sign and could see prices edging higher towards 20080/20162 levels in the coming sessions, risk for the view is at 17223.S1:18100 S2:17850 R1:18500 R2:18720
MCX Copper February: Prices are consolidating in a broad range as of now. Supports at 162.30/163.30 could hold for a rally towards 175.25 followed by 184.0, close below 160.0 will be a bearish sign.
S1: 164 S2:160 R1: 173 R2:178
MCX Crude Oil Feb : As long as 2088/2112 resist expect prices to edge lower towards 1931 followed by 1872,break above 2117 will be a bullish sign.S1: 1955 S2: 1900 R1: 2055 R2: 2100
MCX Nickel Jan: Expect dips to 528 -525 to find support for price to move higher towards 565 -571 levels.Only a fall below 521 to negate this bullish view.S1: 535 S2: 517 R1: 562 R2: 579
MCX Lead Jan: Moving in a broad trading range 58.00 55.05 . Only a break of this range will decide the next directive move.S1: 55.10 S2: 54.00 R1: 57.25 R2: 58.30
MCX Zinc Jan: - Moving in a broad trading range 62.05 59.0 . Only a break of this range will decide the next directive move.S1: 59.85 S2: 58.75 R1: 62.00 R2: 63.10
MCX Natural Gas Feb: - Expect dips to 225 227 to find support for a move higher towards 246 249 levels.Only a fall below 223 to negate this bullish view.S1: 227 S2: 223 R1: 241 R2: 247
MCX Silver Mar: Expect dips to find support towards 17892 followed by 17696 for a rally towards 18937 followed by 19182, break above 19215 will be a bullish sign and could see prices edging higher towards 20080/20162 levels in the coming sessions, risk for the view is at 17223.S1:18100 S2:17850 R1:18500 R2:18720
MCX Copper February: Prices are consolidating in a broad range as of now. Supports at 162.30/163.30 could hold for a rally towards 175.25 followed by 184.0, close below 160.0 will be a bearish sign.
S1: 164 S2:160 R1: 173 R2:178
MCX Crude Oil Feb : As long as 2088/2112 resist expect prices to edge lower towards 1931 followed by 1872,break above 2117 will be a bullish sign.S1: 1955 S2: 1900 R1: 2055 R2: 2100
MCX Nickel Jan: Expect dips to 528 -525 to find support for price to move higher towards 565 -571 levels.Only a fall below 521 to negate this bullish view.S1: 535 S2: 517 R1: 562 R2: 579
MCX Lead Jan: Moving in a broad trading range 58.00 55.05 . Only a break of this range will decide the next directive move.S1: 55.10 S2: 54.00 R1: 57.25 R2: 58.30
MCX Zinc Jan: - Moving in a broad trading range 62.05 59.0 . Only a break of this range will decide the next directive move.S1: 59.85 S2: 58.75 R1: 62.00 R2: 63.10
MCX Natural Gas Feb: - Expect dips to 225 227 to find support for a move higher towards 246 249 levels.Only a fall below 223 to negate this bullish view.S1: 227 S2: 223 R1: 241 R2: 247
Monday, January 19, 2009
VIEWS FOR 19-01-2009
MCX GOLD TRADING IDEA
The trend has turned up.
Ideally, cover short positions at market price and on dips to Rs. 13090 – Rs. 13036 or below as the opportunity arises.
As the trend is up, to minimize risk, intra-day traders can wait for a fall below Rs. 13036 and when it rises above Rs. 13036 then buy with whatever low registered below Rs. 13036 as a stop loss. Subsequently, book profits at Rs. 13250 – Rs.13400 or even 13800
INTERNATIONAL GOLD SPOT TRADING IDEA :-we had indicated that on sustained rise above 831$, the price rise towards 844$-868$ is possible. Similar view was indicated for the hourly chart view. Expect a price rise towards 865$-891$ where serious resistance could be witnessed.
INTERNATIONAL SPOT SILVER TRADING IDEA :- Resistance will be at 11.40$-11.73$. Support will be at 10.90. Traders holding long positions can look for rise towards the resistance level or above to take profit.But higher range should be used to book profits
VIEWS :-
MCX Gold Feb: Dips to 12987 levels to offer good support now for a test of 13410. Fall below 12987 could delay the bullish move.S1: 13100 S2: 13025 R1: 13225 R2: 13300
MCX Silver Mar: The 17843-18006 zone to offer good support for a test of 18658 initially. Dips below 17761 to dent our bullish hopes.S1:18100 S2:17850 R1:18500 R2:18720
MCX Copper February: Supports are at 164.0 followed by 157.7 now. Ideally a consolidation in the 157.7 168.0 zone to result in a break higher towards 182.0 at least. This is our favored view. Unexpected drop below 157.0 to negate the bullish view.S1: 163 S2:158 R1: 171 R2:174
MCX Crude Oil Feb : Short-term resistance near 2094/2098 could cap the up ticks. The trend and momentum are generally down.So anticipate a test of supports after the initial up ticks. Supports are around 2052, 2013 $ 1998.S1: 2045 S2: 1975 R1: 2110 R2: 2165
MCX Zinc Jan: - Moving in a broad trading range 62.05 60.00 . Only a break of this range will decide the next directive move.S1: 59.85 S2: 58.75 R1: 62.00 R2: 63.10
MCX Lead Jan: Moving in a broad trading range 57.45 55.05 . Only a break of this range will decide the next directive move.S1: 55.10 S2: 54.00 R1: 57.25 R2: 58.30
MCX Nickel Jan: Expect dips to 528 -525 to find support for price to move higher towards 565 -571 levels.Only a fall below 521 to negate this bullish view.S1: 521 S2: 501 R1: 551 R2: 573
MCX Natural Gas Jan: - Expect dips to 232 230 to find support for a move higher towards 246 249 levels.Only a fall below 229 to negate this bullish view.S1: 229 S2: 223 R1: 241 R2: 247
The trend has turned up.
Ideally, cover short positions at market price and on dips to Rs. 13090 – Rs. 13036 or below as the opportunity arises.
As the trend is up, to minimize risk, intra-day traders can wait for a fall below Rs. 13036 and when it rises above Rs. 13036 then buy with whatever low registered below Rs. 13036 as a stop loss. Subsequently, book profits at Rs. 13250 – Rs.13400 or even 13800
INTERNATIONAL GOLD SPOT TRADING IDEA :-we had indicated that on sustained rise above 831$, the price rise towards 844$-868$ is possible. Similar view was indicated for the hourly chart view. Expect a price rise towards 865$-891$ where serious resistance could be witnessed.
INTERNATIONAL SPOT SILVER TRADING IDEA :- Resistance will be at 11.40$-11.73$. Support will be at 10.90. Traders holding long positions can look for rise towards the resistance level or above to take profit.But higher range should be used to book profits
VIEWS :-
MCX Gold Feb: Dips to 12987 levels to offer good support now for a test of 13410. Fall below 12987 could delay the bullish move.S1: 13100 S2: 13025 R1: 13225 R2: 13300
MCX Silver Mar: The 17843-18006 zone to offer good support for a test of 18658 initially. Dips below 17761 to dent our bullish hopes.S1:18100 S2:17850 R1:18500 R2:18720
MCX Copper February: Supports are at 164.0 followed by 157.7 now. Ideally a consolidation in the 157.7 168.0 zone to result in a break higher towards 182.0 at least. This is our favored view. Unexpected drop below 157.0 to negate the bullish view.S1: 163 S2:158 R1: 171 R2:174
MCX Crude Oil Feb : Short-term resistance near 2094/2098 could cap the up ticks. The trend and momentum are generally down.So anticipate a test of supports after the initial up ticks. Supports are around 2052, 2013 $ 1998.S1: 2045 S2: 1975 R1: 2110 R2: 2165
MCX Zinc Jan: - Moving in a broad trading range 62.05 60.00 . Only a break of this range will decide the next directive move.S1: 59.85 S2: 58.75 R1: 62.00 R2: 63.10
MCX Lead Jan: Moving in a broad trading range 57.45 55.05 . Only a break of this range will decide the next directive move.S1: 55.10 S2: 54.00 R1: 57.25 R2: 58.30
MCX Nickel Jan: Expect dips to 528 -525 to find support for price to move higher towards 565 -571 levels.Only a fall below 521 to negate this bullish view.S1: 521 S2: 501 R1: 551 R2: 573
MCX Natural Gas Jan: - Expect dips to 232 230 to find support for a move higher towards 246 249 levels.Only a fall below 229 to negate this bullish view.S1: 229 S2: 223 R1: 241 R2: 247
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