COMEX GOLD TECHNICAL OUTLOOK :-Comex Gold (GC)
Gold retreats mildly after hitting as high as 967.80 but after all, intraday bias remains on the upside as long as 929.60 minor support holds. As discussed before, correction from 1007.7 should have completed at 882.7, supported by 38.2% retracement of 681 to 1007.7 at 882.9. Further rise is now expected to retest 1007.7 first and then 1033.9 high. On the downside, below 929.6 will turn intraday outlook neutral. But recent rally is still expected to resume as long as 882.7 low is intact.
In the bigger picture, while the correction is slightly deeper than expected, the over all outlook doesn't change. That is, consolidation from 1033.9 has already completed at 681, in form of an expanding triangle pattern. Long term up trend is tentatively treated as resumed at this point and further rise should be seen to retest 1033.9 high. Break will confirm the bullish case and target 161.8% projection of 681 to 892 from 801.5 at 1142.9 next. On the downside, however, another fall below 882.7 will open up a few short term bearish scenarios that should at least bring deeper for to 801.5 cluster support or below before resuming the long term up trend.
COMEX SILVER TECHNICAL OUTLOOK :Comex Silver (SI)
Silver retreats mildly after hitting as high as 13.74 and at this point, intraday bias remains on the upside as long as 13.00 minor support holds. Break of 13.285 resistance confirms that corrective fall from 14.6 has completed with three waves down to 11.89 already. Further rally should now be seen to retest 14.6 high first. On the downside, below 13.00 will turn intraday bias neutral. But short term outlook will now remain bullish as long as 11.89 low remains intact.
In the bigger picture, whole down trend from 21.44 has completed at 8.4 already. Focus now turns to next resistance at 16, with medium term falling trend line at 15.83 and 61.8% retracement of 21.44 to 8.4 at 16.45. Sustained break will confirm this case and argue that long term up trend is resuming and should target 21.44 high next. On the downside, break of 11.77 support is needed to be the first signal that rise from 8.4 has completed. Otherwise, outlook will remain bullish.
CRUDE OIL TECHNICAL OUTLOOK:-Nymex Crude Oil (CL)
Crude edges further higher to 52.34 today and remains firm. Short term outlook will remain bullish as long as 46.92 and further rally is still expected. As discussed before, sustained trading above 50.47 key resistance will pave the way for strong rally towards next key level of 60, which is close to 23.6% retracement of 147.27 to 33.5 at 60.34. On the downside, though, below 46.92 will indicate that rise from 33.55 has completed and will turn intraday outlook neutral first.
In the bigger picture, the break of 50.47 resistance serves as an important signal that crude oil has finally bottomed out in medium term, on bullish convergence condition in daily MACD, after drawing support from 17.12/33.5 key long term support zone. Sustained trading above 50.47 will confirm this case and open up the prospect of stronger rally towards next key level at 90.51 (50% retracement of 147.27 to 33.5 at 90.38).
NATURAL GAS TECHNICAL OUTLOOK:-Nymex Natural Gas (NG)
The strong rebound in Natural Gas and touching of 4.38 resistance is taken as the first sign that it has bottomed out at 3.672, slightly above mentioned target of 61.8% projection of 6.24 to 4.28 from 4.88 at 3.67. Outlook is turned neutral for the moment. Sustained trading above 4.38 will turn short term outlook bullish for 4.88 resistance next. On the downside, while some pull back might be seen, short term outlook will now be neutral at worst as long as 3.672 low holds.
In the bigger picture, as mentioned above, touching of 4.38 resistance is taken as the first signal that decline from 13.69 has bottomed out at 3.672. Bullish convergence condition in daily MACD is supporting this case too. Further break of 4.88 resistance will confirm this case and bring medium term rebound to cluster resistance at 7.36 (38.2% retracement of 13.69 to 3.67 at 7.499.
Saturday, March 21, 2009
Friday, March 20, 2009
VIEWS WITH TRADING STRATEGY FOR 20TH MARCH 2009
MCX Gold April: A potential target at 15460 has been met. A corrective fall towards 15240 or even lower towards 15045/15080 looks likely.As long as 15030 hold the bullish trend is expected to continue. S1: 15260 S2: 15140 R1: 15525 R2: 15660
MCX Silver May: Important near-term support is at 21990 now. While below 22436/22485 expect a corrective fall towards 21910 or even lower.Direct rise above 22436 to indicate bullish strength for a 23225. S1: 22030 S2: 21800 R1: 22450 R2: 22700
MCX Copper April: Crucial support is at 196. While above this level we can expect the rally to continue towards 204/207 levels. This is our favored view.Fall below 196 to lead to a corrective fall. S1: 196 S2: 193 R1: 204 R2: 207
MCX Crude Oil April : As expected we saw 2630/2656 being tested. A consolidation in the 2545 and 2605 zone can be expected followed by a rise towards 2770.This is our favored view. Fall below 2500 to cause doubts on this bullish view. S1: 2610 S2: 2545 R1: 2645 R2: 2770
MCX Zinc March: Dips to 61.7 likely to find support for a move higher towards 63.4 or even higher towards 64.0 levels.Only a move below 61.0 to negate this bullish view.S1: 61.7 S2: 59.85 R1: 62.4 R2: 63.5
MCX Lead March: Until supports at 66.5/66.0 holds prices may move higher towards 69.0 levels.Moves below 65.6 may negate our bullish view.S1: 66.5 S2: 65.2 R1: 67.5 R2: 69.0
MCX Nickel March: Moves below 502 may take prices further down to 493.On the other hand a break above 515 would rekindle some bullish hopes.S1: 502 S2: 497 R1: 512 R2: 519
MCX Natural Gas April ips to 202/203 likely to find support for a move higher towards 214 or even higher towards 219 levels. Only a move below 198 to negate this bullish view.S1: 203 S2: 198 R1: 214 R2: 219
TRADING STRATEGY ::
GOLD MCX APRIL ::
The trend has turned up.
Ideally, cover all earlier short positions at market price and on dips to Rs. 15236 – Rs. 15013 or below as the opportunity arises.
Buy on dips to Rs. 15236 – Rs. 15013 with stop loss of Rs. 14835.
Expect a rise towards Rs. 15638 – Rs. 15861.
As the trend is up, to minimize risk, intra-day traders can wait for a fall below Rs. 15236 and when it rises above Rs. 15236 then buy with whatever low registered below Rs. 15236 as a stop loss. Subsequently, book profits at Rs. 15638 – Rs. 15861 range or above.
SILVER MCX MAY ::
The trend has turned up.
Ideally, cover all earlier short positions at market price and on dips to Rs. 21813 – Rs. 21209 or below as the opportunity arises.
Buy on dips to Rs. 21813 – Rs. 21209 with stop loss of Rs. 20800.
Expect a rise towards Rs. 22827 – Rs. 23431.
As the trend is up, to minimize risk, intra-day traders can wait for a fall below Rs. 21813 and when it rises above Rs. 21813 then buy with whatever low registered below Rs. 21813 as a stop loss. Subsequently, book profits at Rs. 22827 – Rs. 23431 range or above.
INTERNATIONAL SPOT GOLD ::
Resistance is being witnessed at 958$-963$.
A further rise and close above 963$ can take the price up to test the higher range of 975$-1006$.
Support will be at 948$-925$.
Traders can buy on rise above 963$ with low of the day stop loss.
Corrective dip to 948$ or below could be used for buying with a stop loss of 925$.
A fall and close below 925$ can take the price for gold back down to 882$ or below.
INTERNATIONAL SPOT SILVER ::
Resistance is being witnessed at 13.69$.
On further rise and close above 13.69$ with a positive candle can take the price up to test the higher range of 14.09$-14.63$.
Support will be at 13.30$-13.02$-12.63$. Corrective dip to support could be used for buying.
Overall Stop loss for long positions can be 12.63$.
A close below 12.63$ can take the price down to test 11.89$. It could even move down to fall further.
Therefore the support of 12.63$ will be important from here on.
COPPER MCX APRIL ::
Looks to be on the verge of break out. But, a pull back andaccumulation at 195 would deem healthy for the trend, as priceshave already met the rising trendline in comex as well as lmecharts. A direct rise above 202 would dispel all such doubtscalling for 215.
Nymex Crude:
Expect pull back initially. To take support at50.9/66 for a pull towards 53. This is ourfavoured view. Falls below 50.5 to signal thatdownswing is maturing
ENJOY TRADING !!!!
MUNNABHAI ANALYST
CELL :- +91-9820555212
MCX Silver May: Important near-term support is at 21990 now. While below 22436/22485 expect a corrective fall towards 21910 or even lower.Direct rise above 22436 to indicate bullish strength for a 23225. S1: 22030 S2: 21800 R1: 22450 R2: 22700
MCX Copper April: Crucial support is at 196. While above this level we can expect the rally to continue towards 204/207 levels. This is our favored view.Fall below 196 to lead to a corrective fall. S1: 196 S2: 193 R1: 204 R2: 207
MCX Crude Oil April : As expected we saw 2630/2656 being tested. A consolidation in the 2545 and 2605 zone can be expected followed by a rise towards 2770.This is our favored view. Fall below 2500 to cause doubts on this bullish view. S1: 2610 S2: 2545 R1: 2645 R2: 2770
MCX Zinc March: Dips to 61.7 likely to find support for a move higher towards 63.4 or even higher towards 64.0 levels.Only a move below 61.0 to negate this bullish view.S1: 61.7 S2: 59.85 R1: 62.4 R2: 63.5
MCX Lead March: Until supports at 66.5/66.0 holds prices may move higher towards 69.0 levels.Moves below 65.6 may negate our bullish view.S1: 66.5 S2: 65.2 R1: 67.5 R2: 69.0
MCX Nickel March: Moves below 502 may take prices further down to 493.On the other hand a break above 515 would rekindle some bullish hopes.S1: 502 S2: 497 R1: 512 R2: 519
MCX Natural Gas April ips to 202/203 likely to find support for a move higher towards 214 or even higher towards 219 levels. Only a move below 198 to negate this bullish view.S1: 203 S2: 198 R1: 214 R2: 219
TRADING STRATEGY ::
GOLD MCX APRIL ::
The trend has turned up.
Ideally, cover all earlier short positions at market price and on dips to Rs. 15236 – Rs. 15013 or below as the opportunity arises.
Buy on dips to Rs. 15236 – Rs. 15013 with stop loss of Rs. 14835.
Expect a rise towards Rs. 15638 – Rs. 15861.
As the trend is up, to minimize risk, intra-day traders can wait for a fall below Rs. 15236 and when it rises above Rs. 15236 then buy with whatever low registered below Rs. 15236 as a stop loss. Subsequently, book profits at Rs. 15638 – Rs. 15861 range or above.
SILVER MCX MAY ::
The trend has turned up.
Ideally, cover all earlier short positions at market price and on dips to Rs. 21813 – Rs. 21209 or below as the opportunity arises.
Buy on dips to Rs. 21813 – Rs. 21209 with stop loss of Rs. 20800.
Expect a rise towards Rs. 22827 – Rs. 23431.
As the trend is up, to minimize risk, intra-day traders can wait for a fall below Rs. 21813 and when it rises above Rs. 21813 then buy with whatever low registered below Rs. 21813 as a stop loss. Subsequently, book profits at Rs. 22827 – Rs. 23431 range or above.
INTERNATIONAL SPOT GOLD ::
Resistance is being witnessed at 958$-963$.
A further rise and close above 963$ can take the price up to test the higher range of 975$-1006$.
Support will be at 948$-925$.
Traders can buy on rise above 963$ with low of the day stop loss.
Corrective dip to 948$ or below could be used for buying with a stop loss of 925$.
A fall and close below 925$ can take the price for gold back down to 882$ or below.
INTERNATIONAL SPOT SILVER ::
Resistance is being witnessed at 13.69$.
On further rise and close above 13.69$ with a positive candle can take the price up to test the higher range of 14.09$-14.63$.
Support will be at 13.30$-13.02$-12.63$. Corrective dip to support could be used for buying.
Overall Stop loss for long positions can be 12.63$.
A close below 12.63$ can take the price down to test 11.89$. It could even move down to fall further.
Therefore the support of 12.63$ will be important from here on.
COPPER MCX APRIL ::
Looks to be on the verge of break out. But, a pull back andaccumulation at 195 would deem healthy for the trend, as priceshave already met the rising trendline in comex as well as lmecharts. A direct rise above 202 would dispel all such doubtscalling for 215.
Nymex Crude:
Expect pull back initially. To take support at50.9/66 for a pull towards 53. This is ourfavoured view. Falls below 50.5 to signal thatdownswing is maturing
ENJOY TRADING !!!!
MUNNABHAI ANALYST
CELL :- +91-9820555212
Thursday, March 19, 2009
INTERNATIONAL SPOT GOLD:A recovery was seen yesterday after testing the retracement level of 882$.
Expect a volatile movement within the price band of 950$-882$ for some time being taking any further decisive movement henceforth.
Traders can go long on rise and close above 950$.
Corrective dip to support of 915$-882$ could be used to exit short positions as the opportunity arises.
The situation will arise in next few days to avoid trading as the volatility within the band could be witnessed.
Yesterday rise towards the closing was abnormal therefore the rise could get erased first to an extent before taking any decisive move again.
INTERNATIONAL SPOT SILVER;We were expect the level of 12.40$ to get tested.
Yesterday, we saw an abnormal movement on the downside and equally strong recovery to bring back the situation where it was before the fall.
The 61.8% retracement on the chart was tested which was placed at 11.97$ and the low registered was 11.89$ to close at 12.9$.
Only a rise and close above 13.02$ can take the price up.
Cover short positions on dip to 12.40$-11.97$ range as the opportunity arises
MXC GOLD EXPECTATION:Gold has taken support on the channel line as shown in the chart.
It has also covered the gap which was in the range of 14895-14729.
The low registered yesterday was 14640 and closed at 14795.
The international spot gold price after the MCX exchange closed yesterday night moved up sharply. On the back of the movement on international spot gold movement, we could find price opening higher with a gap. We could see price opening approximately at the L3 or above which is at 15075.
The high registered yesterday on MCX GOLD APRIL was at 15138. The early morning trades could see price movement in the range of 15075-15138.
The falling trend line is placed at 15238.
Traders who are still holding short positions could be in trouble as the opening will be with a gap.
Cover short positions at 14858 or below as the opportunity arises. Fresh downside movement and momentum could only be witnessed on fall and close below 14640.
The bias now could turn up or could move sideways after opening with a gap. Intra-day volatility with be very high.
MCX SILVER EXPECTATION:
A channel breakdown was seen yesterday with volume.
The price range of yesterday that is high and low will be important.
The high and low registered yesterday was 21635 and 20435.
The volume registered were highest of the contract. A close above yesterday high of 21635 could mark a reversal. A falling trend line breakout will confirm a reversal. The trend line value is placed at 22059.
Expect a gap up positive opening in comparison to yesterday close. In the early morning trades, we could find Silver testing L3 which is at 21376. The trend on MCX Silver is still down.
Wait for a rise above 21376 and when it falls below 21376 then sell with high above 21376 as the stop loss.
A close above yesterday high of 21635 and a breakout above the trend line will take the Silver price back up to test the peak range of 22800-23885.
Similarly, any sustained fall below yesterday low and a close below it can take the prices crashing down to 18000 price level.
Therefore, next couple of trading days will play an important role as to decide the further course of price action. As significant change of price action could be seEN
Wednesday, March 18, 2009
VIEWS WITH TRADING STRATEGY FOR 18TH MARCH 2009
VIEWS ::
MCX Gold April: Resistances are at 15186 followed by 15252 levels now. Direct rise above 15285 to indicate bullish strength.But, big picture weakness persists and therefore favor a fall below 14955. S1: 15050 S2: 14950 R1: 15200 R2: 15270
MCX Silver May: Resistances are at 21823 followed by 22000/22030 levels now. Favored view expects a drop towards 19368 or even lower as long as resistances cap the upside. Only a rise above 22370/22455 to cause doubts on our bearish view. S1: 21400 S2: 21250 R1: 21800 R2: 22150
MCX Copper April: Strong supports are at 192.2/ 193.4 for the present uptrend to sustain and continue higher.Crucial support is at 191.2 and a break below this level could decrease the bullishness.S1: 192 S2: 187 R1: 198 R2: 202
MCX Crude Oil April : Supports are at 2518 followed by 2490. While above 2530, prices should aim for the recent highs at 2630 or even higher.Unexpected fall below 2432 will force us to abandon our bullish view. S1: 2535 S2: 2485 R1: 2630 R2: 2670
MCX Zinc March: Dips are expected to find support at 61.75 levels for a move higher towards 63.65 64.0 .A fall below 61.30 to negate this bullish view. S1: 61.75 S2: 61.0 R1: 63.0 R2: 64.1
MCX Lead March: Supports at 67.35 66.85 likely to hold dips for a move higher towards 70.65 71.0 levels.Only a fall below 65.75 to negate this bullish view. S1: 68.00.1 S2: 67.00 R1: 69.6 R2: 70.2
MCX Nickel March: Dips to 500 : 503 likely to find support for a move higher towards 540 levels.Only a move below 487 to cause doubts about this bullish view. S1: 515 S2: 510 R1: 525 R2: 534
TRADING STRATEGY ::
GOLD MCX APRIL ::
The trend is down.
Sell on rise to Rs.. 15166 – Rs. 15223 with stop loss of Rs. 15260.
Expect a fall towards Rs. 15072 – Rs. 15015.
Support will be at Rs. 14910 – Rs. 14850.
Expect a big fall if close below 14850.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 15223 and when it falls below Rs. 15223 then sell with whatever high registered above Rs. 15223 as a stop loss. Subsequently, book profits at Rs. 15166 – Rs. 15072 range or below.
SILVER MCX MAY ::
The trend is down.
Sell at market price and on rise to Rs. 21764 – Rs. 21931 with stop loss of Rs. 22060..
Expect a fall towards Rs. 21469 – Rs. 21302.
On sustain fall, lower levels of Rs. 20620 – Rs. 19250 could be witnessed in coming sessions.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 21931 and when it falls below Rs. 21931 then sell with whatever high registered above Rs. 21931 as a stop loss. Subsequently, book profits at Rs. 21764 – Rs. 21469 range or below.
INTERNATIONAL SPOT SILVER ::
Support will be at 12.50$-12.40$.
Yesterday low was at 12.63$. A fall below 12.63$ will take the price down in the range of 12.50$-12.40$.
Resistance will be at 12.78$-12.88$-12.99$.
INTERNATIONAL SPOT GOLD ::
The price movement is getting narrower.
Support will be at 904$ and 896$.
Resistance will be at 919$-924$ and 930$..
ENJOY TRADING !!!!
MUNNABHAI ANALYST, M. M. A. S.
CELL :- +91-9820555212
MCX Gold April: Resistances are at 15186 followed by 15252 levels now. Direct rise above 15285 to indicate bullish strength.But, big picture weakness persists and therefore favor a fall below 14955. S1: 15050 S2: 14950 R1: 15200 R2: 15270
MCX Silver May: Resistances are at 21823 followed by 22000/22030 levels now. Favored view expects a drop towards 19368 or even lower as long as resistances cap the upside. Only a rise above 22370/22455 to cause doubts on our bearish view. S1: 21400 S2: 21250 R1: 21800 R2: 22150
MCX Copper April: Strong supports are at 192.2/ 193.4 for the present uptrend to sustain and continue higher.Crucial support is at 191.2 and a break below this level could decrease the bullishness.S1: 192 S2: 187 R1: 198 R2: 202
MCX Crude Oil April : Supports are at 2518 followed by 2490. While above 2530, prices should aim for the recent highs at 2630 or even higher.Unexpected fall below 2432 will force us to abandon our bullish view. S1: 2535 S2: 2485 R1: 2630 R2: 2670
MCX Zinc March: Dips are expected to find support at 61.75 levels for a move higher towards 63.65 64.0 .A fall below 61.30 to negate this bullish view. S1: 61.75 S2: 61.0 R1: 63.0 R2: 64.1
MCX Lead March: Supports at 67.35 66.85 likely to hold dips for a move higher towards 70.65 71.0 levels.Only a fall below 65.75 to negate this bullish view. S1: 68.00.1 S2: 67.00 R1: 69.6 R2: 70.2
MCX Nickel March: Dips to 500 : 503 likely to find support for a move higher towards 540 levels.Only a move below 487 to cause doubts about this bullish view. S1: 515 S2: 510 R1: 525 R2: 534
TRADING STRATEGY ::
GOLD MCX APRIL ::
The trend is down.
Sell on rise to Rs.. 15166 – Rs. 15223 with stop loss of Rs. 15260.
Expect a fall towards Rs. 15072 – Rs. 15015.
Support will be at Rs. 14910 – Rs. 14850.
Expect a big fall if close below 14850.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 15223 and when it falls below Rs. 15223 then sell with whatever high registered above Rs. 15223 as a stop loss. Subsequently, book profits at Rs. 15166 – Rs. 15072 range or below.
SILVER MCX MAY ::
The trend is down.
Sell at market price and on rise to Rs. 21764 – Rs. 21931 with stop loss of Rs. 22060..
Expect a fall towards Rs. 21469 – Rs. 21302.
On sustain fall, lower levels of Rs. 20620 – Rs. 19250 could be witnessed in coming sessions.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 21931 and when it falls below Rs. 21931 then sell with whatever high registered above Rs. 21931 as a stop loss. Subsequently, book profits at Rs. 21764 – Rs. 21469 range or below.
INTERNATIONAL SPOT SILVER ::
Support will be at 12.50$-12.40$.
Yesterday low was at 12.63$. A fall below 12.63$ will take the price down in the range of 12.50$-12.40$.
Resistance will be at 12.78$-12.88$-12.99$.
INTERNATIONAL SPOT GOLD ::
The price movement is getting narrower.
Support will be at 904$ and 896$.
Resistance will be at 919$-924$ and 930$..
ENJOY TRADING !!!!
MUNNABHAI ANALYST, M. M. A. S.
CELL :- +91-9820555212
Tuesday, March 17, 2009
VIEWS WITH TRADING STRATGEY FOR 17TH MARCH 2009
VIEWS ::
MCX Gold April: As long as 15324/15357 resists, expect a move lower towards 14945 followed by 14830.However, break above 15406 will negate this bearish view.S1: 15165 S2: 14950 R1: 15300 R2: 15400
MCX Silver May: As long as 22068/22153 resists expect a move lower towards 21338 followed by 21152.However, break above 22442 will negate this bearish view S1: 21700 S2: 21450 R1: 22200 R2: 22550
MCX Copper April: Dips to 190.6/191.8 to find support for a rally to 202 followed by 206.5 .Break below 188.4 to negate this bullish view.S1: 193 S2: 187 R1: 201 R2: 205
MCX Crude Oil April : Dips to 2384/2368 to find support for a rally to 2540 followed by 2603.Break below 2296 to negate this bullish view.S1: 2425 S2: 2385 R1: 2485 R2: 2520
MCX Zinc March: Up moves may take prices to 64.5 levels. Supports are at 62.7 levels.Close below this level may negate our bullish view.S1: 62.7 S2: 61.6 R1: 64.5 R2: 65.5
MCX Lead March: Until support at 66.1 holds prices may move up to 67.6 levels or even higher.Fall below 65.3 may negate our bullish view.S1: 66.1 S2: 65.3 R1: 67.6 R2: 68.2
MCX Nickel March: Up moves may find resistance at 534.0 until support of 518 holds.Moves below 510 may negate our bullish view.S1: 515 S2: 510 R1: 525 R2: 534
MCX Natural Gas March : -.Prices may move down and find support at 197/198 levels. Moves beyond 201/203 to negate our bearish view.S1: 197 S2: 194 R1: 202 R2: 205
TRADING STRATEGY ::
GOLD MCX APRIL ::
The trend has turned down.
Sell on rise to Rs. 14227 – Rs. 15342 with stop loss of Rs. 15475.
Expect a fall towards Rs. 15104 – Rs. 14989.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 15342 and when it falls below Rs. 15342 then sell with whatever high registered above Rs. 15342 as a stop loss. Subsequently, book profits at Rs. 15227 – Rs. 15104 range or below.
SILVER MCX MAY ::
The trend has turned down.
Sell on rise to Rs. 21974 – Rs. 22208 with stop loss of Rs. 22446.
Expect a fall towards Rs. 21665 – Rs. 21431.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 22208 and when it falls below Rs. 22208 then sell with whatever high registered above Rs. 22208 as a stop loss. Subsequently, book profits at Rs. 21974 – Rs. 21665 range or below.
INTERNATIOANL SPOT SILVER ::
Expect further selling pressure on fall and close below 12.78$.
Generally, look for rise to exit long positions.
Resistance will be at 13.16$-13.30$.
A pullback rise could be witnessed on rise and close above 13.30$.
A sideways movement could be witnessed generally.
INTERNATIONAL SPOT GOLD ::
Sideways movement is being witnessed.
Support is at 919$-915$.
Expect selling pressure on fall and close below 915$.
Resistance is at 929$-939$.
In case of close above 940$ then expect spike in prices before further fall at a later date.
MUNNABHAI ANALYST, M. M. A. S.
MCX Gold April: As long as 15324/15357 resists, expect a move lower towards 14945 followed by 14830.However, break above 15406 will negate this bearish view.S1: 15165 S2: 14950 R1: 15300 R2: 15400
MCX Silver May: As long as 22068/22153 resists expect a move lower towards 21338 followed by 21152.However, break above 22442 will negate this bearish view S1: 21700 S2: 21450 R1: 22200 R2: 22550
MCX Copper April: Dips to 190.6/191.8 to find support for a rally to 202 followed by 206.5 .Break below 188.4 to negate this bullish view.S1: 193 S2: 187 R1: 201 R2: 205
MCX Crude Oil April : Dips to 2384/2368 to find support for a rally to 2540 followed by 2603.Break below 2296 to negate this bullish view.S1: 2425 S2: 2385 R1: 2485 R2: 2520
MCX Zinc March: Up moves may take prices to 64.5 levels. Supports are at 62.7 levels.Close below this level may negate our bullish view.S1: 62.7 S2: 61.6 R1: 64.5 R2: 65.5
MCX Lead March: Until support at 66.1 holds prices may move up to 67.6 levels or even higher.Fall below 65.3 may negate our bullish view.S1: 66.1 S2: 65.3 R1: 67.6 R2: 68.2
MCX Nickel March: Up moves may find resistance at 534.0 until support of 518 holds.Moves below 510 may negate our bullish view.S1: 515 S2: 510 R1: 525 R2: 534
MCX Natural Gas March : -.Prices may move down and find support at 197/198 levels. Moves beyond 201/203 to negate our bearish view.S1: 197 S2: 194 R1: 202 R2: 205
TRADING STRATEGY ::
GOLD MCX APRIL ::
The trend has turned down.
Sell on rise to Rs. 14227 – Rs. 15342 with stop loss of Rs. 15475.
Expect a fall towards Rs. 15104 – Rs. 14989.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 15342 and when it falls below Rs. 15342 then sell with whatever high registered above Rs. 15342 as a stop loss. Subsequently, book profits at Rs. 15227 – Rs. 15104 range or below.
SILVER MCX MAY ::
The trend has turned down.
Sell on rise to Rs. 21974 – Rs. 22208 with stop loss of Rs. 22446.
Expect a fall towards Rs. 21665 – Rs. 21431.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 22208 and when it falls below Rs. 22208 then sell with whatever high registered above Rs. 22208 as a stop loss. Subsequently, book profits at Rs. 21974 – Rs. 21665 range or below.
INTERNATIOANL SPOT SILVER ::
Expect further selling pressure on fall and close below 12.78$.
Generally, look for rise to exit long positions.
Resistance will be at 13.16$-13.30$.
A pullback rise could be witnessed on rise and close above 13.30$.
A sideways movement could be witnessed generally.
INTERNATIONAL SPOT GOLD ::
Sideways movement is being witnessed.
Support is at 919$-915$.
Expect selling pressure on fall and close below 915$.
Resistance is at 929$-939$.
In case of close above 940$ then expect spike in prices before further fall at a later date.
MUNNABHAI ANALYST, M. M. A. S.
Monday, March 16, 2009
VIEWS WITH TRADING STRATEGY FOR 16TH MARCH 2009
MCX Gold April: Test of 15600 – 15650 seems within reach as long as 15155 holds . Fall below 15155 would cause doubts about this bullish view. Such a dip could drag
the price a little lower towards 14957 before showing an upturn for the expected rally. The favored view is that there is a chance to touch 15651 while we stay above 15155.
S1: 15190 S2: 14990 R1: 15400 R2: 15600
MCX Silver May: Structure shows bullishness for a rise towards minimum 22590 or ideally towards 23060. Fall below 21730 would most probably change this outlook.
If this view fails that would be first indicated by drop below 21730 followed by a breach of 21020. Favored view expects 21730 to hold for next rise.S1: 21930 S2: 21530 R1: 22300 R2: 22650
MCX Copper April: As long as 182/184 holds support, expect a move towards 202 followed by 210.Break below 182 to negate this bullish view.S1: 184 S2: 179 R1: 192 R2: 195
MCX Crude Oil April : A dip to supports is anticipated first towards 2235, 2210 or maximum 2195. Ideally next rally towards levels above 2625 should begin after this decline.
Fall below 2195 would hint at further weakness towards 2152 or 2080.Do not buy without a confirmed upturn. Unexpected rise above 2528 would change this view.
S1: 2375 S2: 2325 R1: 2450 R2: 2500
MCX Zinc March: As long as 62.2 holds support, expect a move towards 63.0 followed by 63.4 where it can find resistance.Break below 62.0 to negate this bullish view.
S1: 62.0 S2: 61.0 R1: 63.0 R2: 63.5
MCX Nickel March: As long as 492 holds support, expect a move towards 501 where it can find resistance. Break below 492 to negate this bullish view and can drag prices to 481 levels.S1: 492 S2: 481 R1: 501 R2: 510
MCX Natural Gas March : -.Prices may move down and find support at 200/201 levels. Moves beyond 207/208 to negate our bearish view.S1: 201 S2: 197 R1: 204.8 R2: 208
TRADING STARTEGY ::
MCX GOLD APRIL ::
The trend is up but a breakout is needed for a rally.
Traders already long can look to book profits at higher levels to Rs. 15344 – Rs. 15478 or above as the opportunity arises or revise stop loss to Rs. 15210 vice versa.
Buy on breakout and close above Rs. 15660.
As the trend is up, to minimize risk, intra-day traders can wait for a fall below Rs. 15213 and when it rises above Rs. 15213 then buy with whatever low registered below Rs. 15213 as a stop loss. Subsequently, book profits at Rs. 15344 – Rs. 15478 range or above.
SILVER MCX MAY ::
The trend has turned up.
Ideally, cover all earlier short positions at market price and on dips to Rs. 22271 – Rs. 22095 as the opportunity arises.
Sell only on fall and close below Rs. 21730.
Buy only on breakout and close above Rs. 22850.
As the trend is up, to minimize risk, intra-day traders can wait for a fall below Rs. 22095 and when it rises above Rs. 22095 then buy with whatever low registered below Rs. 22095 as a stop loss. Subsequently, book profits at Rs. 22271 – Rs. 22502 range or above.
INTERNATIONAL SPOT GOLD ::
Resistance will be at 936$-945$.
Support is at 919$, 905$ and 896$.
A rise and close above 936$ can continue its pullback towards 975$.
Traders who are long by chance now can look for rise to 936$-945$ to book profits and re-enter long on close above 946$. Traders who area short need to maintain short positions with a stop loss 946$ and look for dip to support to cover short.
Further major crash can be witnessed only on fall and close below 895$.
INTERNATIONAL SPOT SILVER ::
A pull back to test the retracement level of 13.50$-13.77$ could be attempted.
Support of 12.88$ hold the key.
A fall and close below 12.88$ can take Silver down to test back 12.40$.
Traders need to maintain a stop loss of 12.88$ if holding long positons.
ENJOY TRADING !!!!
MUNNABHAI ANALYST, M. M. A. S.
the price a little lower towards 14957 before showing an upturn for the expected rally. The favored view is that there is a chance to touch 15651 while we stay above 15155.
S1: 15190 S2: 14990 R1: 15400 R2: 15600
MCX Silver May: Structure shows bullishness for a rise towards minimum 22590 or ideally towards 23060. Fall below 21730 would most probably change this outlook.
If this view fails that would be first indicated by drop below 21730 followed by a breach of 21020. Favored view expects 21730 to hold for next rise.S1: 21930 S2: 21530 R1: 22300 R2: 22650
MCX Copper April: As long as 182/184 holds support, expect a move towards 202 followed by 210.Break below 182 to negate this bullish view.S1: 184 S2: 179 R1: 192 R2: 195
MCX Crude Oil April : A dip to supports is anticipated first towards 2235, 2210 or maximum 2195. Ideally next rally towards levels above 2625 should begin after this decline.
Fall below 2195 would hint at further weakness towards 2152 or 2080.Do not buy without a confirmed upturn. Unexpected rise above 2528 would change this view.
S1: 2375 S2: 2325 R1: 2450 R2: 2500
MCX Zinc March: As long as 62.2 holds support, expect a move towards 63.0 followed by 63.4 where it can find resistance.Break below 62.0 to negate this bullish view.
S1: 62.0 S2: 61.0 R1: 63.0 R2: 63.5
MCX Nickel March: As long as 492 holds support, expect a move towards 501 where it can find resistance. Break below 492 to negate this bullish view and can drag prices to 481 levels.S1: 492 S2: 481 R1: 501 R2: 510
MCX Natural Gas March : -.Prices may move down and find support at 200/201 levels. Moves beyond 207/208 to negate our bearish view.S1: 201 S2: 197 R1: 204.8 R2: 208
TRADING STARTEGY ::
MCX GOLD APRIL ::
The trend is up but a breakout is needed for a rally.
Traders already long can look to book profits at higher levels to Rs. 15344 – Rs. 15478 or above as the opportunity arises or revise stop loss to Rs. 15210 vice versa.
Buy on breakout and close above Rs. 15660.
As the trend is up, to minimize risk, intra-day traders can wait for a fall below Rs. 15213 and when it rises above Rs. 15213 then buy with whatever low registered below Rs. 15213 as a stop loss. Subsequently, book profits at Rs. 15344 – Rs. 15478 range or above.
SILVER MCX MAY ::
The trend has turned up.
Ideally, cover all earlier short positions at market price and on dips to Rs. 22271 – Rs. 22095 as the opportunity arises.
Sell only on fall and close below Rs. 21730.
Buy only on breakout and close above Rs. 22850.
As the trend is up, to minimize risk, intra-day traders can wait for a fall below Rs. 22095 and when it rises above Rs. 22095 then buy with whatever low registered below Rs. 22095 as a stop loss. Subsequently, book profits at Rs. 22271 – Rs. 22502 range or above.
INTERNATIONAL SPOT GOLD ::
Resistance will be at 936$-945$.
Support is at 919$, 905$ and 896$.
A rise and close above 936$ can continue its pullback towards 975$.
Traders who are long by chance now can look for rise to 936$-945$ to book profits and re-enter long on close above 946$. Traders who area short need to maintain short positions with a stop loss 946$ and look for dip to support to cover short.
Further major crash can be witnessed only on fall and close below 895$.
INTERNATIONAL SPOT SILVER ::
A pull back to test the retracement level of 13.50$-13.77$ could be attempted.
Support of 12.88$ hold the key.
A fall and close below 12.88$ can take Silver down to test back 12.40$.
Traders need to maintain a stop loss of 12.88$ if holding long positons.
ENJOY TRADING !!!!
MUNNABHAI ANALYST, M. M. A. S.
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