VIEWS FOR 19TH JUNE 2009

MCX Gold August: Rallies to 14615/14677 to find resistance for a move lower towards 14365 levels now. Rise above 14724 is needed to raise doubts on this bearish view. S1: 14420 S2: 14300 R1: 14640 R2: 14750

MCX Silver July : Dips to 22616/22536 to find support for a rise towards 23529 levels. Fall below 22624 to negate this bullish view.S1: 22550 S2: 22375 R1: 22950 R2: 23185

MCX Copper June: Important supports at 239.4/236.8 levels now. Favored view expects dips to find support at these levels for a rise upto resistance levels at 248.50/250.5. Fall below 235.7 to negate this bullish view. S1: 237 S2: 233 R1: 244 R2: 247

MCX Crude Oil July : Dips to 3448/3436 to find support for a move above 3542 targeting 3638 levels now. Fall below 3347 to negate this bullish view. S1: 3443 S2: 3400 R1: 3530 R2: 3567

MCX Zinc June: While above supports at 73.20/73.55 levels we can expect prices to rally towards 76.5/77.0 levels. Breach of 72.55 levels to negate this bullish view. S1: 73.30 S2: 72.10 R1: 75.30 R2: 76.45

MCX Lead June : While above supports at 78.00/77.55 levels we can expect prices to rally towards 82.5/83.0 levels. Breach of 76.90 levels to negate this bullish view. S1: 78.60 S2: 77.50 R1: 80.70 R2: 81.60

MCX Nickel June: While above supports at 705/712 levels we can expect prices to rally towards 745/ 755 levels. Breach of 692 levels to negate this bullish view. S1:710 S2:695 R1: 735 R2: 750

MCX Natural Gas July : Dips to 205/203 likely to find support for a move higher towards 218/225 levels now. Only a fall below 194 to negate this bullish view now. S1: 208 S2: 203 R1: 217 R2: 224

TRADING STRATEGY ::

GOLD MCX AUGUST ::
The trend has turned up but nature of movement is sideways.
Since last few sessions, a sideways trading pattern is being witnessed and it is most avoidable situations in terms of trading perspective.
Lack of clear direction is preventing us to give any conclusion at this stage of the trade.
On breakout above Rs. 14720 or breakdown below Rs. 14380 will decide the direction.
Therefore it is advisable to stay away for some time and wait for either side breakout.
As far as traders having positions can look to book profits if any on rise to Rs. 14563 – 14611 as the opportunity arises.
As the trend is up, intra-day traders can wait for a fall below Rs. 14486 and when it rises above Rs. 14486, then buy with whatever low registered below Rs. 14486 as a stop loss. Subsequently, book profits at Rs. 14563 – Rs. 14611 range or above.

SILVER MCX JULY ::

The trend is down but nature of movement is sideways.
Ideally, cover short positions at market price and on dips to Rs. 22597 – 22480 as the opportunity arises or hold short positions with revising stop loss to Rs. 22870 vice-versa.
Sell only on fall and close below Rs. 22350.
As the trend is down, intra-day traders can wait for a rise above Rs. 22850 and when it fall below Rs. 22850, then sell with whatever high registered above Rs. 22850 as a stop loss. Subsequently, cover short at Rs. 22733 – Rs. 22597 range or below

INTERNATIONAL SPOT GOLD ::

The trend is down.
Sell on rise to $935 – 940 with stop loss of $943.
Expect a fall towards $927 – 922.

INTERNATIONAL SPOT SILVER :;

The trend is down.
Support will be at 14.08 – 13.93$.
Sell only on fall below $13.90.

ENJOY TRADING !!!!!!!!!!!!!!!!!

VIEWS FOR 18TH JUNE 2009

MCX Gold August: Resistance is at the 14643/14673 to cap upside attempts ideally for a fall from there. Failure to do so could lead prices higher towards 14829 levels next. S1: 14400 S2: 14290 R1: 14600 R2: 14710

MCX Silver July : Resistances are at 23424/23519. Ideally this level to cap upside attempts for a fall again. Unexpected rise above 23631 to hint at bullishness again. S1: 22550 S2: 22375 R1: 22950 R2: 23185

MCX Copper June: Important resistance is at 247.10/248.15 levels now. Favored views expects a cap here for a decline again.Unexpected rise above 254/254.50 could cause doubts on our bearish view. S1: 236 S2: 232 R1: 244 R2: 247

MCX Crude Oil July : Rise above 3450 shows bullish tendencies now. Trendline resistance is at 3543/3545 levels. Break here could be a bullish sign for 3568/3662.Fall below 3405 to negate out bullish expectations. S1: 3380 S2: 3340 R1: 3465 R2: 3510

MCX Zinc June: While above supports at 73.20/73.55 levels we can expect prices to rally towards 76.5/77.0 levels. Breach of 72.55 levels to negate this bullish view. S1: 72.90 S2: 71.80 R1: 74.55 R2: 75.80

MCX Lead June : While above supports at 78.00/77.55 levels we can expect prices to rally towards 82.5/83.0 levels.Breach of 76.90 levels to negate this bullish view. S1: 77.50 S2: 76.30 R1: 79.70 R2: 80.60

MCX Nickel June: While above supports at 695/702 levels we can expect prices to rally towards 725/735 levels.Breach of 692 levels to negate this bullish view. S1:700 S2:685 R1: 725 R2: 740

MCX Natural Gas July : Dips to 205/203 likely to find support for a move higher towards 218/225 levelsnow. Only a fall below 194 to negate this bullish view now. S1: 208 S2: 203 R1: 217 R2: 224

TRADING STRATEGY ::
MCX GOLD AUGUST ::
Cover short positions on dip to 14457-14450.
Sell on fall below 14440 with high of the day stop loss.
High range of 14557-14603 could be tested. How is sustains at higher range is to be seen.
A near term rise is possible if the close is above 14557 with a positive candle.
It can try to meet the falling trend line from the highs.

SILVER MCX JULY ::

Traders holding short positions can cover at current price to 22492-22401 as the opportunity arises.
Sell again below 22400.
Intra-day traders can wait for a rise above 22881 and when it falls below 22881 then sell with high above 22881 as the stop loss to cover at 22732-22641 range as the opportunity arises.

INTERNATIONAL SPOT GOLD ::
The 50% retracement level is held well for last 3 trading days.
The 50% level is placed at 927$ and the low in last 3 trading days has been 927$.
Support is around 927$-925$.
On fall below 925$, expect a slide towards 911$ at least.
On the immediate front, we could find gold testing back the broken trend line which is the range of 943$-946$.
The trend line could get tested. Further, how is sustains at the trend line needs to be seen.

INTERNATIONAL SPOT SILVER ::

After the trend line breakdown, in a single day Silver tested the 50% level.
It has been hovering around the 50% retracement level for last 3 trading days.
The 50% level was placed at 14.07$.
Yesterday, silver recovered from the low of 13.93$ and closed at 14.32$.
It is looks that we could find a minor pullback beginning if the low of 13.93$ is not violated from here on immediately.
Expect retracement up towards 14.46$ and 14.77$ for immediate near term.
In case if 13.93$ is violated then a slide down to 13.61$ cannot be ruled out.
Ultimately, 13.60$ needs to be held. A fall and close below 13.60$ can take Silver crashing down towards the low of 12$-11.80$.
On the immediate front, we have a possibility of a rise towards 14.46$-14.77$ with the low of 13.93$ as the immediate support.

NYMEX LIGHT CRUDE OIL ::

The channel got violated but the close is back in the channel.
Support range is at 70.62$-69$.
A fall and close below 69$ will show a near term correction of the last rise from 45.44$ to recent high of 73.23$.
On the immediate front traders holding long positions can still maintain a stop loss of 69$ and look for rise from current price to 74$ to take profit.
Re-enter long on rise above 74$.
The upside after breakout above 74$ is small now. As we can expect a range of 76$-79$.

VIEWS FOR 17TH JUNE 2009

MCX Gold August: Prices could consolidate in a range of 14342 and 14543. However favored view is break below 14342 will be a bearish sign and prices could test 14156/14110 levels.
S1: 14350 S2: 14240 R1: 14560 R2: 14650

MCX Silver July : Rallies to 22680/22745 to find resistance for a fall lower towards 21995 / 21915; break above 22983 will negate this bearish view.However direct fall below 22361 could see prices testing 21915 / 21995.
S1: 22350 S2: 22175 R1: 22750 R2: 22985

MCX Copper June: Corrective rallies to 241.7/242.75 to find resistance for a fall lower towards 232.2/230.0; break above 246 will negate this bearish view. S1: 234 S2: 230 R1: 243 R2: 247

MCX Crude Oil July : Rallies to 3432/3437 to find resistance for a fall lower towards 3335 followed by 3307; break above 3470 will negate this bullish view.S1: 3380 S2: 3340 R1: 3465 R2: 3510

MCX Zinc June: While above supports at 72.00 / 71.55 levels we can expect prices to rally towards 75.5/76.0 levels. Breach of 71.55 levels to negate this bullish view. S1: 72.90 S2: 71.80 R1: 74.55 R2: 75.80

MCX Lead June : While above supports at 76.00 / 75.55 levels we can expect prices to rally towards 81.5 /82.0 levels. Breach of 75.55 levels to negate this bullish view. S1: 77.50 S2: 76.30 R1: 79.70 R2: 80.60

MCX Nickel June: While above supports at 685/ 682 levels we can expect prices to rally towards 725 / 735 levels. Breach of 680 levels to negate this bullish view. S1:690 S2:675 R1: 725 R2: 740

MCX Natural Gas July : Dips to 203 /200 likely to find support for a move higher towards 218 - 225 levels now. Only a fall below 192 to negate this bullish view now. S1: 203 S2: 196 R1: 212 R2: 220

TRADING STRATEGY ::
GOLD MCX AUGUST ::

Traders short can keep a stop loss of 14500 to hold short positions. Cover short at 14398-14380 range as the opportunity arises. Sell again on fall and close below 14380 with high of the day stop loss.

SILVER MCX JULY ::

Intra-day traders can wait for a rise above 22781 and when it falls below 22781 then sell with high above 22781 as the stop loss.
Sell further on fall and close below 22450.
Expect lower range of 22414-22258 to get tested.
Traders who are already short can maintain a stop loss of 22837 to hold short positions.

INTERNATIONAL GOLD SPOT ::

GOLD (spot): Last 935
Yesterday’s bargain hunting stalled at 939 exactly as anticipated, and in
doing so prices remain within the bearish channel retaining the 915 view.
However a third day’s close above 15th low of 925.8, is suggestive of
bargain hunting gaining strength. Morning’s swings are expected to take
support at 931 and remain positive attempting another go at 939 or even
943 for a turn lower. Only a close above 943 should entirely alter the
general bearish view.
.
Alternate Scenario:
A break of 931 early in the day, would render the bullish structure
impotent calling for 915, with intermediate pauses expected at 926-918.


PIVOTS
Supports
931
926
918/5
TURNAROUND LEVELS: 931 –
939-943-915
Resistances
939/43
952/5
960/ 6


Nymex Crude(Jul): Last 70.47

A break of 72 failed to sustain the uppish momentum
which got stalled just shy of the recent peak of 73.12, only
above which an upward swing would gain momentum
towards 75-77. On the other hand, 69.5 is likely to hold
most of the day’s downswings as US Weekly inventory
data is forecast to show a decline in crude stocks. A push
below the same is likely to call for 67

ENJOY TRADING !!!!!

VIEW FOR 16TH JUNE 2009

MCX Gold August: A pullback to resistance levels at 14530-14561 or even higher towards 14670 / 14701 levels can be seen as long as 14328 levels is not breached on the downside. S1: 14280 S2: 14160 R1: 14540 R2: 14630

MCX Silver July : A pullback to resistance levels at 23100-23483 or even higher can be seen as long as 22380 levels are not breached on the downside. S1: 22350 S2: 22175 R1: 22750 R2: 22985

MCX Copper June: Pullback to resistance levels at 244.0 followed by 248 expected. Favored view expects these resistance levels to cap rallies for a fall to 236 levels. S1: 238 S2: 234 R1: 245 R2: 248

MCX CrudeOil July:Resistance at 3423/3452 could cap rally for fall toward 3336. Rise above 3472 to negate bearish view. S1: 3360 S2: 3320 R1: 3445 R2: 3480

MCX Zinc June: Dips to 73.75/73.50 likely to find support for a move higher towards 76.0 / 77.0 levels now. Only a fall below 73.0 to negate this bullish view. S1: 73.45 S2: 72.60 R1: 75.55 R2: 77.00

MCX Lead June : Rallies to 84.85/85.15 to find resistance for a move lower towards 82.30/ 81.80 levels . A rise above 86.40 to negate this bearish view.S1: 82.50 S2: 81.00 R1: 84.70 R2: 85.60

MCX Nickel June: Rallies to 743 /746 to find resistance for a move lower towards 703 /690 levels .A rise above 751 to negate this bearish view. S1:725 S2:710 R1: 750 R2: 768

MCX Natural Gas July : Dips to 192.00 /188.0 likely to find support for a move higher towards 208 levels now. Only a fall below 184 to negate this bullish view now. S1: 193 S2: 188 R1: 202 R2: 206

TRADING STARTEGY ::
GOLD MCX AUGUST ::
Sell on rise to 14428-14475 with a stop loss of 14500.
Expect lower range of 14356-14309.

SILVER MCX JULY ::
Sell on rise to 22758-23066 with a stop loss of 23329.
Lower range of 22217-21909 range could be tested.
Yesterday movement was a big black candle therefore we could find price reacting up towards CP-22758 on intra-day basis before making ways down again later.

INTERNATIONAL SPOT GOLD ::

test of 915 now looks inevitable, but presently an upswing is in progress targetting 935-939 initially, for a likely turn lower, unless we see avoluminous break above 943
Alternate Scenario:
A break of 927 should signal resumption of broad downward trend targetting 915

ENJOY TRADING !!!!!

VIEWS FOR THE WEEK FROM 15TH JUNE 2009

MCX Gold August:Resistances are at 14578/14592 followed by 14669/14684 now. Favored view expects resistances to cap for a decline towards 14253/14269 levels. Unexpected rise above 14839 to hint at resumption of bullishness. S1: 14380 S2: 14260 R1: 14600 R2: 14730

MCX Silver July : Resistances are at 23417 followed by 23668. Ideally, resistances to cap for a sharp decline towards 21913 levels. This is our favored view. Unexpected rise above 24185 to cause doubts on our bearish view. S1: 23000 S2: 22750 R1: 23510 R2: 23785

MCX Copper June: Resistances are at 251.5 followed by 254.6 now. Resistances to cap for a decline towards 234.5/235.6 levels being a trendline support point .Move above 256.7/257.8 to hint at resumption of bullish trend again. S1: 246 S2: 242 R1: 255 R2: 259

MCX Crude Oil July : Favored view expects a test of 3320 as long as 3504 caps upside attempts to cross higher.Resistances are at 3481 followed by 3505/3510. S1: 3430 S2: 3280 R1: 3515 R2: 3550

MCX Zinc June: Rallies to 79.30/79.50 to find resistance for a move lower towards 76.30/75.80 levels . A rise above 80.95 to negate this bearish view.S1: 78.00 S2: 77.15 R1: 80.00 R2: 81.40

MCX Lead June : Rallies to 84.85/85.15 to find resistance for a move lower towards 82.30/81.80 levels . A rise above 86.40 to negate this bearish view. S1: 82.50 S2: 81.00 R1: 84.70 R2: 85.60

MCX Nickel June: Rallies to 743/746 to find resistance for a move lower towards 703/690 levels . A rise above 751 to negate this bearish view. S1:725 S2:710 R1: 750 R2: 768

MCX Natural Gas June : Dips to 184.0/182.0 likely to find support for a move higher towards 201 levels now. Only a fall below 174 to negate this bullish view now. S1: 184 S2: 180 R1: 191 R2: 196

TRADING STARTEGY FOR THE DAY ::

MCX GOLD AUGUST ::
Sell on rise to 14512-14604 with a stop loss of 14642.
On further fall below 14420, expect lower range of 14383-14291 range to be tested. Daily Reversal : 14630

MCX SILVER JULY ::
Sell on rise to 23497-23732 with a stop loss of 24018.
Support is at 23162.
Sell on fall and close below 23162 with high of the day stop loss.
Expect subsequently lower range of 23094-22859 to be tested.
Daily Reversal : 23667

INTERNATIONAL SPOT GOLD ::

A head and should pattern seems to be visible and a breakdown has been witnessed.
Support and the 38.2% retracement of 940$ has been violated and the close is below it.
Expect slide towards 50% to 61.8% retracement level is near term.
The 38.2% and 61.8% retracement levels are placed at 925$ and 911$ respectively.
Resistance will be at 944$-952$-966$.
Traders can sell on rise to 944$-952$ range with a stop loss of 966$.
In order to minimize risk, traders can wait for rise above 952$ and when it falls below 952$ then sell with high above 952$ as the stop loss.

INTERNATIONAL SPOT SILVER ::

Support and 38.2% retracement is put to test which is placed at 14.63$.
On sustained fall below 14.63$, expect further slide towards 50% and 61.8$ retracement level which are placed at 14.10$ and 13.61$ respectively.
Resistance will be at 14.94$-15.42$-15.51$.
Use rise to 14.94$ or above to exit long positions.
Intra-day traders can wait for a fall below 14.63$ and when it moves above 14.80$ then buy with low below 14.63$ as the stop loss to exit at 14.94$-15.42$ range as the opportunity arises.
Intra-day traders can wait for a rise above 15.23$ and when it falls below 15.24$ then sell with high above 15.23$ as the stop loss.
The trend line have been violated therefore attempt to pullback to and above the trend line could be attempts.

ENJOY TRADING !!!!