VIEWS FOR 25TH JUNE 2009

MCX Gold August: Dips to 14499/14360 to find support for a move higher towards 14826, break below14389 will negate this bullish view.S1: 14520 S2: 14450 R1: 14700 R2: 14810

MCX Silver July : Dips to 22241/22193 to find support for a move higher towards 23044/23124, break below22081 will be a bearish sign.S1: 22200 S2: 21900 R1: 22550 R2: 22800

MCX Copper June Dip to 236/237 to find support for move higher toward 248/249, break below 232 willnegate bullish view. S1: 237 S2: 233 R1: 246 R2: 249

MCX Crude Oil July : As long as 3284 holds support expect a move towards 3405/3420, break below 3278.will negate bullish view.S1:3300 S2:3265 R1:3388 R2:3435

MCX Lead June : Dips to 80.20/80.00 to find support for a move higher towards 83.5 levels . Fall below 79.20to raise doubts about this view. S1: 79.60 S2: 78.50 R1: 81.70 R2: 82.60

MCX Zinc June: Dips to 75.65/75.35 to find support for a move higher towards 78.5 levels . Fall below 74.30to raise doubts about this view.S1: 75.30 S2: 74.10 R1: 77.30 R2: 78.45

MCX Nickel June: Dips to 735/731 to find support for a move higher towards 765 levels .Fall below 712 to raise doubts about this view. S1:726 S2:715 R1: 750 R2: 767


GOLD MCX AUGUST ::

A breakout above 14640 was witnessed and the trend line was crossed on intra-day but closed lower at 14613.
Traders who are still short can look for dip down from current price to 14444 to cover short positions.
Traders who got stuck on long positions yesterday on breakout above 14640 can look for rise to 14720-14823 to exit long position.
Corrective dip to 14510-14444 can be used for buying with a stop loss of 14410 to subsequently exit at 14634-14802 range to exit.
Re-enter long positions further rise and close above 14823.

SILVER MCX JULY ::

A reaction down after testing the trend line was seen yesterday.
Cover short positions at current price to 22203 range as the opportunity arises.
Support will be at 22074.
Sell on fall below 22074 with high of the day stop loss.
Intra-day traders can wait for a rise above 22584 and when it falls below 22584 then sell with high above 22584 as the stop loss.

INTERNATIONAL SPOT GOLD ::

A trend line breakout was indicated yesterday and the same kind of movement was seen. The high registered yesterday was 942.20$ against the resistance of 942$. But reacted down to close at 931.1$.
A pullback of the fall from 989.8$ to 912.9$ is being witnessed now. The 38.2% retracement has been tested which was at 943$.
Further resistance will be from the red color trend line which was violated and the 50% retracement level which is at 951$.
Traders can cover short positions if any at lower range of 927$-921$ range as the opportunity arises.
Dip to 918$ can be used for buying with a stop loss of 912$.
Sell on fall and close below 910$ with high of the day stop loss.
Resistance of 943$ and 951$ needs to be crossed on sustained basis. Failure to sustain at higher level will put the pressure back on the support of 912$.

INTERNATIONAL SPOT SILVER ::

The 61.8% retracement level 13.61$ was tested yesterday. The low registered in last 2 days was 13.59$ and closed at 13.82$.
Sell further on fall and close below 13.59$ with high of the day stop loss.
Rise towards the blue color trend line should be used to exit long and sell.
A breakout and close above 14.40$ will exhibit a trend line breakout on the upside for a near term pullback rally towards 50% and 61.8% retracement level of the fall from recent high of 16.2$ to 13.59$.
Resistance will be at 14.13$-14.40$.

NYMEX LIGHT CRUDE OIL ::

The 23.6% and 38.2% retracement level of this rise from 45.4$ to 73.23$ is placed at 66.7$ and 62$.
The low registered in last 3 days 66.25$ and tested the 23.6% retracement.
Recovery has been witnessed from the support of 66.25$ to close at 68.67$.
Support will be at 66.25$ and 62$.
Immediate resistance level is at 70$.
Resistance will be at 70.2$-72.30$.
Traders by chance still holding long positions can maintain a stop loss of 66.25$ and look for rise to 70.2$-72.30$ to take profit or exit long positions.
Sell only on fall and close below 66.2$.
A sideways movement in a band of 73.20$-66.2$ cold be seen in near term with volatility within this band.

ENJOY TRADING !!!!!

VIEW FOR 24TH JUNE 2009

MCX Gold August: Dips to 14392/14423 to find support for a move higher towards 14580/14611, break below 14329 will negate this bullish view.S1: 14420 S2: 14300 R1: 14600 R2: 14710

MCX Silver July : As long as 21893/21926 holds support expect a move towards 22651/22732, break below 21861 will negate this bullish view.S1: 22100 S2: 21900 R1: 22450 R2: 22700

MCX Copper June: Dips to 231.7/232.85 to find support for a move higher towards 240/241.5 break below 228.8 will negate this bullish view. S1: 232 S2: 229 R1: 238 R2: 242

MCX Crude Oil July : Dips to 3295/3269 to find support for a move higher towards 3444/3453 break below 3234 will negate this bullish view. S1: 3300 S2: 3265 R1: 3388 R2: 3435

MCX Zinc June: A break above 73.70 to take price towards resistance level at 75.0 levels. Fall below 72.25 to attract more selling now. S1: 72.30 S2: 71.10 R1: 74.30 R2: 75.45

MCX Lead June : Rise above 79.10 to take price towards resistance level at 80.35 levels.Fall below 77.6 to attract more selling . S1: 77.60 S2: 76.50 R1: 79.70 R2: 80.60

MCX Nickel June: Stuck in a range 699/717. Break of the same will decide the next directive move. S1:702 S2:690 R1: 718 R2: 730

MCX Natural Gas July : Dips to 195/193 likely to find support for a move higher towards 212/218 levels now. Only a fall below 190 to negate this bullish view now. S1: 193 S2: 188 R1: 203 R2: 208

TRADING STRATEGY ::

GOLD MCX AUGUST ::

The trend is down but nature of movement is sideways.
Ideally, cover short positions at market price and on dips to Rs. 14468 – 14427 or below as the opportunity arises.
Sell only on close below Rs. 14350.

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. 22240 – 22131 or below as the opportunity arises.
Sell only on close below Rs. 22000.

INTERNATIONAL SPOT GOLD ::

The 61.8% retracement level of 911$ was tested. The low registered yesterday was 912.9$ and recovered to close higher at 925.10$.
Expect Gold now to move higher and give a trend line breakout.
Support now will be at 918$-911$.
In case of further fall and close below 910$, Gold can slide down to tested back the low of 880$ and 864$. Therefore, it is likely that the a minor pullback is possible in near term from here on.
Traders holding short positions can cover at current price to 910$ range as the opportunity arises.
Resistance will be at 930$ and 946$.

NYMEX LIGHT CRUDE OIL ::

The 23.6% and 38.2% retracement level of this rise from 45.4$ to 73.23$ is placed at 66.7$ and 62$.
The low registered in last 2 days 66.25$ and tested the 23.6% retracement.
Recovery has been witnessed from the support of 66.25$ to close higher at 69.24$.
Support will be at 66.25$ and 62$.
Expect a rise towards the broken red color trend line which is placed at 70.2$.
Resistance will be at 70.2$-72.30$.
Traders by chance still holding long positions can maintain a stop loss of 66.25$ and look for rise to 70.2$-72.30$ to take profit or exit long positions.
Sell only on fall and close below 66.2$.
A sideways movement in a band of 73.20$-66.2$ cold be seen in near term with volatility within this band.

ENJOY TRADING !!!!!

FOR LIVE CALLS.. JOIN OUR PAID SERVICE ... WE ROCK THE MARKET

VIEW FOR 23RD JUNE 2009

MCX Gold August: As long as 14549 caps upside, expect prices to continue to edge lower towards 14313 initially followed by 14250,which is a stronger support level. S1: 14420 S2: 14300 R1: 14640 R2: 14750

MCX Silver July : As long as 22652 caps upside, expect prices to continue to edge lower towards 21938 initially followed by 21646,which is a stronger support level. S1: 22050 S2: 21800 R1: 22450 R2: 22700

MCX Copper June: Expect rallies to 234.30/235.4 to cap for a fall towards 224.6/223.5 ranges. Risk lies above 241.0. S1: 226 S2: 223 R1: 234 R2: 238

MCX Crude Oil July : Supports at 3230/3215 .Ideally dips to find support at these levels and move higher towards 3459 levels.Fall below 3186 to take prices lower towards 3082 levels. S1: 3245 S2: 3200 R1: 3330 R2: 3387

MCX Zinc June: Rallies to 72.75/72.95 to find resistance for a move lower towards 69.50 levels . Only a rise above 74.40 to negate this bearish view. S1: 71.30 S2: 70.10 R1: 73.30 R2: 74.45

MCX Lead June : Rallies to 78.65/78.90 to find resistance for a move lower towards 74.20 levels. A move above 79.50 to negate this view. S1: 76.60 S2: 75.50 R1: 78.70 R2: 79.60

MCX Nickel June: Rallies to 707/712 to find resistance now for a move lower towards 685/680 levels. Rise above 717 is needed to negate this bearish view. S1:695 S2:680 R1: 718 R2: 742

MCX Natural Gas July : Dips to 195/193 likely to find support for a move higher towards 212/218 levels now. Only a fall below 190 to negate this bullish view now. S1: 194 S2: 191 R1: 203 R2: 208

GOLD MCX AUGUST ::

Sideways movement is being witnessed with volatility in a narrow band apart from some intra-day trading opportunities.
Intra-day trader can wait for a rise above 14583 and when it falls below 14583 then sell with high above 14583 as the stop loss.
Lower range of 14438-14369 can get tested.
A breakout and close above 14640 can bring about a near term pullback rise.
The price movement is getting narrow as it can be seen from the trend lines marked on the chart which are converging.
Daily Reversal : 14510

SILVER MCX JULY ::

Sell at 22373-22520 with a stop loss of 22630.
Expect lower range of 22115-21968 to be tested.
Intra-day traders in order to minimize risk can wait for a rise above 22520 and when it falls below 22520 then sell with high above 22520 as the stop loss.
Daily Reversal : 22874

INTERNATIONAL SPOT GOLD ::

The breakdown of the Head and Shoulder pattern is now coming into effect. Neckline was violated 2 weeks back but the fall was slow until yesterday.
The 61.8% retracement level is placed at 911$ which will be tested.
Resistance now will be at 925$-935$.
Traders holding short positions can maintain a stop loss at 935$. Sell on rise to 925$-930$ with a stop loss of 935$. Expect lower range of 911$-904$.

INTERNATIONAL SPOT SILVER ::

A breakdown was witnessed yesterday after a sideways movement which was being seen last week.
The 61.8% retracement level is being tested which is at 13.61$. The low registered yesterday was 13.69$.
In case of further sustained fall and close below 13.60$, then the slide can go down towards 13.20$ to finally test the higher bottom of 12.03$ and 11.80$.
Resistance will be at 13.93$-14.16$.
Traders holding short positions can maintain a stop loss of 14.16$.

NYMEX LIGHT CRUDE OIL ::

The 23.6% and 38.2% retracement level of this rise from 45.4$ to 73.23$ is placed at 66.7$ and 62$.
The low registered yesterday was 66.25$ and tested the 23.6% retracement.
The higher bottom support is at 64.95$ which will be tested now.
On further fall below 64.95$, the slide can go down towards 62$.
Resistance will be at 69$-70$.
If any recovery has to be seen then it can be from 62$ to otherwise correction can do down to 38.2% retracement level at least.

COPPER LME ::

A trend line breakdown is being witnessed.
Earlier the chart pattern showed strength and had indicated to carry on for a rally. It looks to have to puncture for the time being as a correction or sideways movement is likely to be witnessed.
The trend line breakdown can carry Copper down towards 4310-4150 range.
A breakout and close above 5381 can restore back its upside movement.
Any rise from current level of 4705 and above towards 5381 is an opportunity to exit long positions.
On the whole the rise of the entire rise from 2815 since Dec’08 looks to be a sluggish rise.
Immediate recovery back above the trend line is required to keep hopes that 5381 can be crossed.
Immediate resistance point is 4850.

VIEWS FOR THE WEEK WITH TRADING STARTEGY FOR THE DAY 22ND JUNE 2009

MCX Gold August: Prices are consolidating between 14689 and 14409. Favored view is break below 14471 could see prices edging lower towards 14316/14285. S1 14420 S2: 14300 R1: 14640 R2: 14750

MCX Silver July : Rallies to 22734 to find resistance for a fall lower towards 22093, break above 23022 will negate this bearish view. S1: 22450 S2: 22275 R1: 22750 R2: 23085

MCX Copper June: Rallies to 240 to find resistance for a fall lower towards 229/228, break above 243 will negate this bearish view. S1: 234 S2: 230 R1: 242 R2: 246

MCX Crude Oil July : Rallies to 3461/3474 to find resistance for a fall lower towards 3361/3351, break above 3532 will negate this bearish view. S1: 3350 S2: 3300 R1: 3430 R2: 3467

MCX Zinc June: Rallies to 74.20/74.40 to find resistance for a move lower towards 72.0/71.50 levels . Only a rise above 75.60 to negate this bearish view. S1: 73.30 S2: 72.10 R1: 75.30 R2: 76.45

MCX Lead June : Rallies to 79.30/79.50 to find resistance for a move lower towards 77.00/76.50 levels. A move above 80.30 to negate this view. S1: 78.60 S2: 77.50 R1: 80.70 R2: 81.60

MCX Nickel June: Rallies to 718/720 to find resistance now for a move lower towards 685/680 levels. Rise above 723 is needed to negate this bearish view. S1:705 S2:690 R1: 730 R2: 743

MCX Natural Gas July : Dips to 198/195 likely to find support for a move higher towards 212/218 levels now. Only a fall below 190 to negate this bullish view now. S1: 200 S2: 196 R1: 211 R2: 218

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. 14579 – 14617 as the opportunity arises.
As the trend is up, intra-day traders can wait for a fall below Rs. 14495 and when it rises above Rs. 14495, then buy with whatever low registered below Rs. 14495 as a stop loss. Subsequently, book profits at Rs. 14533 – Rs. 14579 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. 22563 – 22462 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. 22795 and when it fall below Rs. 22795, then sell with whatever high registered above Rs. 22795 as a stop loss. Subsequently, cover short at Rs. 22694 – Rs. 22563 range or below.

INTERNATIONAL SPOT GOLD ::

The trend is down.
Sell on rise to $934 – 938 with stop loss of $943.
Expect a fall towards $929 – 925.60.
On fall below $925, continuation of preceding downtrend is likely to be witnessed which starts from $989.95$ high of 03 June 2009.
On sustain decline below $925, prices can fell towards $900 – 884 in sessions to come.

INTERNATIONAL SPOT SILVER ::

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

ENJOY TRADING !!!!!