MCX Gold April: Immediate support is at 15347/15378 followed by 15236. Favored view expects these supports to hold for a rally towards 15695 or even higher. However, unexpected fall below 15236 to drag prices lower towards 14935 or even lower.S1: 15370 S2: 15173 R1: 15630 R2: 15832
MCX Silver Mar: fall below 22672 has opened the way for a corrective declines towards 21535 or even lower. Resistances are at 23000/23030 followed by 23078/23110. This is our favored view. Direct rise above 23322 to detour bearish expectation.S1: 22568 S2: 22180 R1: 23015 R2: 23402
MCX Copper February: Possible to see a corrective pullback towards 165.6 levels for the day or even higher towards 167.8. But the trend still remains weak. Only a direct rise above 173 to restore bullish hopes. S1: 157 S2: 153 R1: 160 R2: 166
MCX Crude Oil March : Moved as per expectations. Supports are at 1970 followed by 1920.We can expect a rally towards 2202/2225 as long as the supports hold.S1: 1957 S2: 1898 R1: 2010 R2: 2085
MCX Zinc Feb: - Up rally beyond 55.25 may take prices to 56.00 level. Move below 54.9 will negate this bullish view.S1: 55.0 S2: 54.55 R1: 55.45 R2: 56.00
MCX Lead Feb: Strong support is seen at 53 level. Breakdown from this level will continue price fall to at least 52.25 level. Moves beyond 54.0 can raise doubts about this bearish view. S1: 53.0 S2: 51.95 R1: 54.0 R2: 55.0
MCX Nickel Feb: Up rally beyond 495 may take prices to 505 level . However a break of supports at 490 may take prices to 484 level and negate our bullish view.S1: 490 S2: 484 R1: 495 R2: 505
MCX Mentha Oil Feb: - While below 510/511 prices could stay under pressure and move lower to test support at 502.A break of 502 could see further weakness towards 494 levels. However a rise above 511 could see prices correct towards resistance at 520 levels. S1:502 S2:497 R1:507.5 R2:511
(In $): Comex Gold April: - Immediate support is at 968/70 followed by 961. Favored view expects these supports to hold for a rally towards 990 or even higher. However, unexpected fall below 961 to drag prices lower towards 942 or even lower
(In $):NYMEX Crude April: - Moved as per expectations. Supports are at 38.95 followed by 37.93. We can expect a rally towards 43.50/95 as long as the supports hold.
(In $):Comex Silver March: - fall below 13.98 has opened the way for a corrective declines towards 13.25 or even lower. Resistances are at 14.15/17 followed by 14.20/22. This is our favored view. Direct rise above 14.35 to detour bearish expectation.
Friday, February 20, 2009
Wednesday, February 18, 2009
VIEWS WITH TRADING STRATEGY FOR 18th FEBRUARY 2009
MCX Gold April: Moving in line with our expectations. It has tested the important resistance at 15578. Supports are at 15340 followed by 15227 now.Ideally, a test of 15818 or even higher towards 16265 can be seen as long as supports hold. S1: 15362 S2: 15158 R1: 15563 R2: 15832
MCX Silver Mar: Supports are at 22460 followed by 22233 now. A test of 23660/23740 looks likely as long as supports hold. Fall below 21860 to dent our bullish view. S1: 22500 S2: 22182 R1: 23000 R2: 23450
MCX Copper February: Resistance is at 161.8/163. However, as long as 164/166.3 resists any upside attempts, we favor a fall towards 151 or even lower. S1: 157 S2: 153 R1: 162 R2: 166
MCX Crude Oil March : A bullish correction can be seen on a rise above 1940 for a possible test of 1995/1997 initially. There is a possibility for an extension towards 2055 too. Fall below 1903 to neutralize our bullish expectations.S1: 1945 S2: 1880 R1: 2029 R2: 2085
MCX Zinc Feb: - Prices may move down and test support at 54.25 level which if breached can take prices to 53.75 level. Rallies if any are suppose to get resistance at 55.25 .S1: 54.25 S2: 53.7 R1: 55.25 R2: 55.7
MCX Nickel Feb: Free fall of Nickel may get support at 490-500 levels. Rallies if any likely to capped below 515 for move towards 470 level.S1: 492 S2: 481 R1: 515 R2: 530
MCX Natural Gas Feb: - Reversal in price may be seen if prices cross 215 level finding resistance at 221. S1: 209 S2: 204 R1: 215 R2: 221
MCX Mentha Oil Feb: - Supports are at 502 levels now. Rallies could find resistance at 510/512 levels for a move lower to test the supports.However a rise above 512 could see prices correct further towards resistance at 519 levels. S1:502 S2:497 R1:511 R2:516
TRADING STRATEGY ::
SILVER MCX MARCH ::
The trend is up.
Hold your long positions with a stop loss at Rs 21495.
Further buy only on a rise above Rs 22990.
Intra-day traders can wait for a fall below Rs 22423 and when it rises above Rs 22423 then buy with the low below Rs 22423 as the stop loss.
MACD histogram is now in the positive zone. The 14 day RSI is moving down and now above the 70 mark.
Open interest witnessed significant fall with the rise in price indicating short positions unwinding.
Resistance is seen at Rs 23351 – Rs 23817.
GOLD MCX APRIL ::
The trend is up.
Hold your long positions with a stop loss at Rs 14735.
Further buy only on a rise above Rs 15565.
Intra-day traders can wait for a fall below Rs 15264 and when it rises above Rs 15264 then buy with the low below Rs 15264 as the stop loss.
MACD histogram is in the positive zone. The 14 day RSI is moving up and now above the 70 mark.
Open interest witnessed significant rise with the rise in price indicating fresh long positions build up.
Resistance is seen at Rs 15790 – Rs 16089
INTERNATIONAL SPOT GOLD ::
A trend line taken from the high was plotted yesterday and shown on the chart as well. A breakout of the same was witnessed yesterday.
The rise yesterday was a large one therefore we could find dip during the day towards the intra-day support levels before making any further attempts to cross the yesterday high of 974.2$.
Support will be at 961$-948$-926$. Resistance will be at 975$. On rise above 975$, expect a further rise towards 982$ and 995$.
In spite of the rise yesterday, corrective dip should be used for buying.
On the hourly chart, we had shown a breakout yesterday and the target of 969$ was attained. On the chart, we have shown the retracement level of the last corresponding rise from 939$ to 974$. The retracement levels are placed at 961$-956$-952$.
Traders can trade long again on rise above 975$ and take profit at current price to 975$ as the opportunity arises.
INTERNATIONAL SPOT SILVER ::
A Channeled rise continues. Corrective dip to support of 13.95$-13.68$ can be used for buying with a stop loss of 13.53$. Book profits on rise towards 14.37$-14.64$ as the opportunity arises on older buy positions.
The hourly chart suggest that we could see some profit booking which could bring the price to test the support level before making any further attempts to move higher.
Traders can trade long again on rise above 14.23$.
MCX Silver Mar: Supports are at 22460 followed by 22233 now. A test of 23660/23740 looks likely as long as supports hold. Fall below 21860 to dent our bullish view. S1: 22500 S2: 22182 R1: 23000 R2: 23450
MCX Copper February: Resistance is at 161.8/163. However, as long as 164/166.3 resists any upside attempts, we favor a fall towards 151 or even lower. S1: 157 S2: 153 R1: 162 R2: 166
MCX Crude Oil March : A bullish correction can be seen on a rise above 1940 for a possible test of 1995/1997 initially. There is a possibility for an extension towards 2055 too. Fall below 1903 to neutralize our bullish expectations.S1: 1945 S2: 1880 R1: 2029 R2: 2085
MCX Zinc Feb: - Prices may move down and test support at 54.25 level which if breached can take prices to 53.75 level. Rallies if any are suppose to get resistance at 55.25 .S1: 54.25 S2: 53.7 R1: 55.25 R2: 55.7
MCX Nickel Feb: Free fall of Nickel may get support at 490-500 levels. Rallies if any likely to capped below 515 for move towards 470 level.S1: 492 S2: 481 R1: 515 R2: 530
MCX Natural Gas Feb: - Reversal in price may be seen if prices cross 215 level finding resistance at 221. S1: 209 S2: 204 R1: 215 R2: 221
MCX Mentha Oil Feb: - Supports are at 502 levels now. Rallies could find resistance at 510/512 levels for a move lower to test the supports.However a rise above 512 could see prices correct further towards resistance at 519 levels. S1:502 S2:497 R1:511 R2:516
TRADING STRATEGY ::
SILVER MCX MARCH ::
The trend is up.
Hold your long positions with a stop loss at Rs 21495.
Further buy only on a rise above Rs 22990.
Intra-day traders can wait for a fall below Rs 22423 and when it rises above Rs 22423 then buy with the low below Rs 22423 as the stop loss.
MACD histogram is now in the positive zone. The 14 day RSI is moving down and now above the 70 mark.
Open interest witnessed significant fall with the rise in price indicating short positions unwinding.
Resistance is seen at Rs 23351 – Rs 23817.
GOLD MCX APRIL ::
The trend is up.
Hold your long positions with a stop loss at Rs 14735.
Further buy only on a rise above Rs 15565.
Intra-day traders can wait for a fall below Rs 15264 and when it rises above Rs 15264 then buy with the low below Rs 15264 as the stop loss.
MACD histogram is in the positive zone. The 14 day RSI is moving up and now above the 70 mark.
Open interest witnessed significant rise with the rise in price indicating fresh long positions build up.
Resistance is seen at Rs 15790 – Rs 16089
INTERNATIONAL SPOT GOLD ::
A trend line taken from the high was plotted yesterday and shown on the chart as well. A breakout of the same was witnessed yesterday.
The rise yesterday was a large one therefore we could find dip during the day towards the intra-day support levels before making any further attempts to cross the yesterday high of 974.2$.
Support will be at 961$-948$-926$. Resistance will be at 975$. On rise above 975$, expect a further rise towards 982$ and 995$.
In spite of the rise yesterday, corrective dip should be used for buying.
On the hourly chart, we had shown a breakout yesterday and the target of 969$ was attained. On the chart, we have shown the retracement level of the last corresponding rise from 939$ to 974$. The retracement levels are placed at 961$-956$-952$.
Traders can trade long again on rise above 975$ and take profit at current price to 975$ as the opportunity arises.
INTERNATIONAL SPOT SILVER ::
A Channeled rise continues. Corrective dip to support of 13.95$-13.68$ can be used for buying with a stop loss of 13.53$. Book profits on rise towards 14.37$-14.64$ as the opportunity arises on older buy positions.
The hourly chart suggest that we could see some profit booking which could bring the price to test the support level before making any further attempts to move higher.
Traders can trade long again on rise above 14.23$.
Tuesday, February 17, 2009
VIEWS FOR 17th FEBRUARY 2009
MCX Gold April: As expected the 14497-14543 zone seems to have held well. A rally to 15088 or 15182 looks likely. Supports are at 14636 followed by 14574. S1: 14580 S2: 14450 R1: 14797 R2: 15100
MCX Silver Mar: Supports are at 21317 followed by 21238. Ideally supports to hold for a rally towards 22060. Fall below 21000/21032 to cause doubts on our bullish view. S1: 21300 S2: 21176 R1: 21480 R2: 21630
MCX Copper February: As expected break below 160.2 is a bearish sign. Prices could edge lower towards 147/148 levels now. Rallies to 163.4/164.5 to cap for a decline towards above-mentioned levels. S1: 160 S2: 157 R1: 165 R2: 169
MCX Crude Oil March(corrected) : Favoured view expects that resistance at 2110/2154 could cap for a fall towards 1962. Rise above 2165 is needed to think about a stronger recovery.S1: 2017 S2: 1841 R1: 2082 R2: 2133
MCX Zinc Feb: - Rallies to level 55.1 is expected where it may find resistance. Support is seen at 54.3 level which breached can take prices to 53.9. S1: 54.3 S2: 53.7 R1: 55.25 R2: 55.7
MCX Lead Feb: Price likely to stay weak for the session and test supports at 56.15-55.65 on the downside. However a break above 56.71 could once again take price towards strong resistance at 57.40 levels. S1: 55.34 S2: 54.50 R1: 56.71 R2: 57.40
MCX Nickel Feb: Free fall of Nickel may get support at 490-500 level. Rallies if any likely to capped below 515 for move towards 470 level..S1: 492 S2: 481 R1: 515 R2: 530
MCX Natural Gas Feb: - Prices are likely to stay weak and find strong support at 209 levels.Rally beyond 216 may negate this bearish view. S1: 209 S2: 204 R1: 212 R2: 219
MCX Mentha Oil Feb: - Price have found strong support at 515. However a rise above 523 could see a move higher towards next resistance at 528 .S1:512 S2:507.50 R1:521 R2:528
TRADING STRATERGY ::
MCX GOLD APRIL ::
The trend is up.
Hold your long positions with a stop loss at Rs 14235.
Further buy only on a rise above Rs 14730.
Intra-day traders can wait for a fall below Rs 14672 or Rs 14615 and when it rises above Rs 14672 or Rs 14615 then buy with the low below Rs 14672 or Rs 14615 as the stop loss.
MACD histogram is in the positive zone. The 14 day RSI is moving up and now near the 70 mark.
Open interest witnessed significant rise with the rise in price indicating fresh long positions build up.
Resistance is seen at Rs 14763 – Rs 14820.
MCX SILVER MARCH ::
The trend is up.
Hold your long positions with a stop loss at Rs 20900.
Further buy only on a rise above Rs 21575.
Intra-day traders can wait for a fall below Rs 21400 or Rs 21249 and when it rises above Rs 21400 or Rs 21249 then buy with the low below Rs 21400 or Rs 21249 as the stop loss.
MACD histogram is now in the positive zone. The 14 day RSI is moving down and now above the 70 mark.
Open interest witnessed significant rise with the rise in price indicating fresh long positions build up.
Resistance is seen at Rs 21578 – Rs 21729
INTERNATIONAL SPOT GOLD ::
The trend is up as per the daily chart for last few days. The trading higher bottom is placed at 931$. The earlier breakout point was also at 931$. So, the earlier breakout has offered support in last couple of trading session by forming a lower shadow.
Resistance will be at 952$.
On further rise and close above 952$, Gold can move up to test the trend line taken from the two highs as shown in the chart.
The hourly chart suggest that trading breakout has been witnessed in the early morning trades. Gold is expected to test the high registered in last couple of trading days back of 952$.
In case of further breakout and close above 952$ as per the hourly chart shown below, Gold can move towards 1.27 retracement level of 969$.
Traders holding long positions can a tight stop loss of 939$ as per hourly chart. Overall low of 931$ will prove to be an important support point. Depending on the individual traders risk bearing capacity can maintain 939$ or 931$ as stop loss for any long positions held as of now or created now.
INTERNATIONAL SPOT SILVER ::
As we have been indicate a channeled up move for last few days, the same continues to be in existence.
The channel has not yet been violated and price up move continues to be within the channel.
Resistance will be at 13.80$.
Expect continuation of the up move on rise and close above 13.80$.
An attempt to move towards the upper channel line could be made. The momentum right now is a steady accent. A sharp breakout with a spike can take it towards the upper channel line.
Traders holding long positions can maintain overall stop loss of 13.23$. A fall and close below 13.23$ can violate the channel.
On the hourly chart, we can see a breakout which can carry price up towards 14.03$ at least and may be to an outer extent to 14.39.
As per hourly chart, traders can maintain a stop loss of 13.48$ for any trading long positions held.
MCX Silver Mar: Supports are at 21317 followed by 21238. Ideally supports to hold for a rally towards 22060. Fall below 21000/21032 to cause doubts on our bullish view. S1: 21300 S2: 21176 R1: 21480 R2: 21630
MCX Copper February: As expected break below 160.2 is a bearish sign. Prices could edge lower towards 147/148 levels now. Rallies to 163.4/164.5 to cap for a decline towards above-mentioned levels. S1: 160 S2: 157 R1: 165 R2: 169
MCX Crude Oil March(corrected) : Favoured view expects that resistance at 2110/2154 could cap for a fall towards 1962. Rise above 2165 is needed to think about a stronger recovery.S1: 2017 S2: 1841 R1: 2082 R2: 2133
MCX Zinc Feb: - Rallies to level 55.1 is expected where it may find resistance. Support is seen at 54.3 level which breached can take prices to 53.9. S1: 54.3 S2: 53.7 R1: 55.25 R2: 55.7
MCX Lead Feb: Price likely to stay weak for the session and test supports at 56.15-55.65 on the downside. However a break above 56.71 could once again take price towards strong resistance at 57.40 levels. S1: 55.34 S2: 54.50 R1: 56.71 R2: 57.40
MCX Nickel Feb: Free fall of Nickel may get support at 490-500 level. Rallies if any likely to capped below 515 for move towards 470 level..S1: 492 S2: 481 R1: 515 R2: 530
MCX Natural Gas Feb: - Prices are likely to stay weak and find strong support at 209 levels.Rally beyond 216 may negate this bearish view. S1: 209 S2: 204 R1: 212 R2: 219
MCX Mentha Oil Feb: - Price have found strong support at 515. However a rise above 523 could see a move higher towards next resistance at 528 .S1:512 S2:507.50 R1:521 R2:528
TRADING STRATERGY ::
MCX GOLD APRIL ::
The trend is up.
Hold your long positions with a stop loss at Rs 14235.
Further buy only on a rise above Rs 14730.
Intra-day traders can wait for a fall below Rs 14672 or Rs 14615 and when it rises above Rs 14672 or Rs 14615 then buy with the low below Rs 14672 or Rs 14615 as the stop loss.
MACD histogram is in the positive zone. The 14 day RSI is moving up and now near the 70 mark.
Open interest witnessed significant rise with the rise in price indicating fresh long positions build up.
Resistance is seen at Rs 14763 – Rs 14820.
MCX SILVER MARCH ::
The trend is up.
Hold your long positions with a stop loss at Rs 20900.
Further buy only on a rise above Rs 21575.
Intra-day traders can wait for a fall below Rs 21400 or Rs 21249 and when it rises above Rs 21400 or Rs 21249 then buy with the low below Rs 21400 or Rs 21249 as the stop loss.
MACD histogram is now in the positive zone. The 14 day RSI is moving down and now above the 70 mark.
Open interest witnessed significant rise with the rise in price indicating fresh long positions build up.
Resistance is seen at Rs 21578 – Rs 21729
INTERNATIONAL SPOT GOLD ::
The trend is up as per the daily chart for last few days. The trading higher bottom is placed at 931$. The earlier breakout point was also at 931$. So, the earlier breakout has offered support in last couple of trading session by forming a lower shadow.
Resistance will be at 952$.
On further rise and close above 952$, Gold can move up to test the trend line taken from the two highs as shown in the chart.
The hourly chart suggest that trading breakout has been witnessed in the early morning trades. Gold is expected to test the high registered in last couple of trading days back of 952$.
In case of further breakout and close above 952$ as per the hourly chart shown below, Gold can move towards 1.27 retracement level of 969$.
Traders holding long positions can a tight stop loss of 939$ as per hourly chart. Overall low of 931$ will prove to be an important support point. Depending on the individual traders risk bearing capacity can maintain 939$ or 931$ as stop loss for any long positions held as of now or created now.
INTERNATIONAL SPOT SILVER ::
As we have been indicate a channeled up move for last few days, the same continues to be in existence.
The channel has not yet been violated and price up move continues to be within the channel.
Resistance will be at 13.80$.
Expect continuation of the up move on rise and close above 13.80$.
An attempt to move towards the upper channel line could be made. The momentum right now is a steady accent. A sharp breakout with a spike can take it towards the upper channel line.
Traders holding long positions can maintain overall stop loss of 13.23$. A fall and close below 13.23$ can violate the channel.
On the hourly chart, we can see a breakout which can carry price up towards 14.03$ at least and may be to an outer extent to 14.39.
As per hourly chart, traders can maintain a stop loss of 13.48$ for any trading long positions held.
Monday, February 16, 2009
VIEW FOR THE WEEK FROM 16TH FEB TO 21 FEB 2009
MCX Gold April: A corrective dip to 14513 or even lower towards 14404 to occur before the rally resumes towards 15121 levels. Fall below 14388 to cause doubts about this view. S1: 14610 S2: 14580 R1: 14675 R2: 14715
MCX Silver Mar: Important support at 21273 followed by 21051 now. Rally is expected to resume higher towards 22932/23002 levels. Direct fall below 20718 to dash our bullish hopes. S1: 21200 S2: 21050 R1: 21450 R2: 21570
MCX Copper February: Important support is at 159.8 now below, which could open the way for, 148 or even lower. Only a direct rise above 177 to re-in force bullish hopes.
S1: 165 S2: 161 R1: 170 R2: 174
MCX Crude Oil March : Favoured view expects that resistance at 2369/2420 could cap for a fall towards 2203. Rise above 2430 is needed to think about a stronger recovery.
S1: 2064 S2: 2024 R1: 2125 R2: 2149
MCX Zinc Feb: - Weakness in the price may persist until level 56.5 is crossed. Support is seen at 55 level which breached can take prices to 55.0. S1: 55.0 S2: 54.6 R1: 55.91 R2: 56.5
MCX Lead Feb: Price likely to stay weak for the session and test supports at 56.15-55.65 on the downside. However a break above 56.71 could once again take price towards strong resistance at 57.40 levels. S1: 55.34 S2: 54.50 R1: 56.71 R2: 57.40
MCX Nickel Feb: Free fall of Nickel may get support at 490-500 level. Rallies if any likely to capped below 515 for move towards 470 level..S1: 492 S2: 481 R1: 515 R2: 530
MCX Natural Gas Feb: - Prices are likely to stay weak and find strong support at 216-210 levels.Rally beyond 236 may negate this bearish view. S1: 216 S2: 208 R1: 228 R2: 233
MCX Silver Mar: Important support at 21273 followed by 21051 now. Rally is expected to resume higher towards 22932/23002 levels. Direct fall below 20718 to dash our bullish hopes. S1: 21200 S2: 21050 R1: 21450 R2: 21570
MCX Copper February: Important support is at 159.8 now below, which could open the way for, 148 or even lower. Only a direct rise above 177 to re-in force bullish hopes.
S1: 165 S2: 161 R1: 170 R2: 174
MCX Crude Oil March : Favoured view expects that resistance at 2369/2420 could cap for a fall towards 2203. Rise above 2430 is needed to think about a stronger recovery.
S1: 2064 S2: 2024 R1: 2125 R2: 2149
MCX Zinc Feb: - Weakness in the price may persist until level 56.5 is crossed. Support is seen at 55 level which breached can take prices to 55.0. S1: 55.0 S2: 54.6 R1: 55.91 R2: 56.5
MCX Lead Feb: Price likely to stay weak for the session and test supports at 56.15-55.65 on the downside. However a break above 56.71 could once again take price towards strong resistance at 57.40 levels. S1: 55.34 S2: 54.50 R1: 56.71 R2: 57.40
MCX Nickel Feb: Free fall of Nickel may get support at 490-500 level. Rallies if any likely to capped below 515 for move towards 470 level..S1: 492 S2: 481 R1: 515 R2: 530
MCX Natural Gas Feb: - Prices are likely to stay weak and find strong support at 216-210 levels.Rally beyond 236 may negate this bearish view. S1: 216 S2: 208 R1: 228 R2: 233
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