MCX Gold August: Rallies to 14553/14568 to find resistance for a fall lower towards 14235/14204; break above 14662 will negate this bearish view.S1: 14390 S2: 14280 R1: 14590 R2: 14690
MCX Silver September: As long as 21135 holds support expect an up move towards 21883/ 21995, breakbelow 21100 will negate this bullish view. S1: 21370 S2: 21160 R1: 21780 R2: 22050
MCX Copper Aug: Dip to 236.6/237.8 to find support for move higher toward 244/245, break below 233.5to negate bullish view. S1: 237 S2: 235 R1: 244 R2: 247
MCX Crude Oil July : Dips to 2874 followed by 2846 to find support for an up move towards 3005/3025, break below 2806 to negate this bullish view.S1: 2885 S2: 2830 R1: 2945 R2: 2985
MCX Zinc July: Supports at 74.20/74.0 . A break above 74.85 to take price towards 76.30 levels now.Only a fall below 72.85 to signal continuation of bearish move. S1: 73.0 S2: 72.20 R1: 74.7 R2: 75.8
MCX Lead July : Supports at 78.60 /78.40 . A break above 79.15 to take price towards 80.30 levels now. Only a fall below 77.75 to signal continuation of bearish move. S1: 77.90 S2: 76.80 R1: 79.60 R2: 80.60
MCX Nickel July : Supports at 722 / 718 . A break above 742 to take price towards 760 levels now. Onlya fall below 710 to signal continuation of bearish move. S1:710 S2:700 R1: 735 R2: 748
MCX Natural Gas July : Buy on the break of 171 , S/L 165.2 , TGT 180 S1: 162 S2: 158 R1: 171 R2: 174
TRADING STRATEGY ::
GOLD MCX AUGUST ::
Trend line support is being witnessed.
Support range is at 14481-14400.
A fall below 14400 will show a sharper and sustained fall.
Resistance will be at 14524-14624.
Intra-day traders can wait for a rise above 14524 and when it falls below 14524 then sell with high above 14524 as the stop loss.
INTERNATIONAL SPOT GOLD ::
Support is at 900$. On fall and close below 900$, expect the slide to continue towards 879$.
Resistance will be at 918$-925$.
INT. SPOT SILVER ::
Hold short positions with a stop loss of 13.15$.
A channeled fall is being witnessed. The price movement has been below the blue color trend line as shown in the chart.
Sell on fall and close below 12.73$ with a stop loss of 13.15$.
Expect lower range of 12.54$ to be tested.
NYMEX LIGHT CRUDE OIL ::
A correction down towards 38.2% is likely to be tested in days to come which are around 58$.
Traders who are holding short positions can maintain a stop loss of 63$ to hold short positions.
Sell on fall and close below 59.20$ with high of the day stop loss or 63$ whichever is higher.
ENJOY TRADING !!!!
Friday, July 10, 2009
Thursday, July 9, 2009
VIEWS FOR 9TH JULY 2009
MCX Gold August: Initial resistance at 14559 - 14591 followed by 14623 - 14671 levels. Ideally, resistance
to cap for 14240 while below 14671. S1: 14390 S2: 14280 R1: 14590 R2: 14690
MCX Silver September: Resistance at 21807 followed by 22059.More important resistance is at 22227.
Break above 22227 to test 22820 levels now. Direct fall below 21370 to cause doubts on our bullish view. S1: 21370 S2: 21160 R1: 21780 R2: 22050
MCX Natural Gas July : Break above 172 can take price towards 185 levels . Supports at 163/160
levels . S1: 163 S2: 160 R1: 168 R2: 172.
MCX Copper August : Resistance is at 237 followed by important resistance at 239/241 levels now.
Resistance to cap for decline to 230. Direct rise above 243 to dash our bearish hopes.S1: 234 S2: 231 R1: 240 R2: 243
MCX Crude Oil July : A pullback to 3086/3090 looks likely or even higher towards 3129.Direct fall below
2970 to drag prices lower. Such a fall to test 2920/2908.S1: 2965 S2: 2930 R1: 3045 R2: 3090
MCX Zinc July: Rallies to 74.60/74.80 likely to find resistance for a move lower towards 73.00/72.50
levels. Only a rise above 76.00 to negate this bearish view. S1: 73.5 S2: 72.40 R1: 75.3 R2: 76
MCX Lead July : Rallies to 79.80/80.20 likely to find resistance for a move lower towards 76.50
levels. Only a rise above 80.70 to negate this bearish view S1: 77.60 S2: 76.50 R1: 79.60 R2: 80.60
MCX Nickel July : Rallies to 743/747 likely to find resistance for a move lower towards 715-710 levels.Only a rise above 765 to negate this bearish view S1:720 S2:710 R1: 745 R2: 758
INTERNATIONAL SPOT VIEW:-Gold breakdown below 920$ yesterday and attained a low of 904.7$.
Expect lower level of 900$, 879$ and 864$ to be tested.
Resistance will be at 913$, 920$ and 925$.
Resistance levels can be used to sell and exit long positions.
Recovery from 900$ can test the resistance and if sustains can test the yellow color trend line.
The bias is for lower top and lower bottom formation for immediate near term situation.
INTERNATIONAL SPOT SILVER VIEW:-Hold short positions with a stop loss of 13.15$.
Expect lower level of 12.54$ to be tested.
A channeled fall is being witnessed. The price movement has been below the blue color trend line as shown in the chart
NYMEX CRUDE:-A correction down towards 38.2% is likely to be tested in days to come which are around 58$.
Traders who are holding short positions can maintain a stop loss of 63$ to hold short positions.
MCX TRADING STRATERGY:- SILVER MCX :-Sell on fall and close below 21460 with high of the day stop loss or 21769 whichever is higher at the point of breakdown.
Traders can wait for a rise above 21769 and when it falls below 21769 then sell with high above 21769 as the stop loss.
A breakout and close above 22021 can reverse the sequence of lower top and lower bottom formation. It can also subsequently give a breakout of the falling channel as shown in the chart
MCX GOLD ;-Yesterday price movement erased the gains registered on Monday and the stop loss was violated on the trading long side. It was expected that the pink color trend line could be tested but the same did not happen.
Traders holding long positions can look for rise to 14526-14594 to exit long and to sell.
Re-enter long on rise and close above 14624.
One again the convergence between the new trend line looks to have begun.
Violation of red color trend line can mean a sharper fall in gold price.
Support overall will be at 14400.
Immediate range is 14624-14400
to cap for 14240 while below 14671. S1: 14390 S2: 14280 R1: 14590 R2: 14690
MCX Silver September: Resistance at 21807 followed by 22059.More important resistance is at 22227.
Break above 22227 to test 22820 levels now. Direct fall below 21370 to cause doubts on our bullish view. S1: 21370 S2: 21160 R1: 21780 R2: 22050
MCX Natural Gas July : Break above 172 can take price towards 185 levels . Supports at 163/160
levels . S1: 163 S2: 160 R1: 168 R2: 172.
MCX Copper August : Resistance is at 237 followed by important resistance at 239/241 levels now.
Resistance to cap for decline to 230. Direct rise above 243 to dash our bearish hopes.S1: 234 S2: 231 R1: 240 R2: 243
MCX Crude Oil July : A pullback to 3086/3090 looks likely or even higher towards 3129.Direct fall below
2970 to drag prices lower. Such a fall to test 2920/2908.S1: 2965 S2: 2930 R1: 3045 R2: 3090
MCX Zinc July: Rallies to 74.60/74.80 likely to find resistance for a move lower towards 73.00/72.50
levels. Only a rise above 76.00 to negate this bearish view. S1: 73.5 S2: 72.40 R1: 75.3 R2: 76
MCX Lead July : Rallies to 79.80/80.20 likely to find resistance for a move lower towards 76.50
levels. Only a rise above 80.70 to negate this bearish view S1: 77.60 S2: 76.50 R1: 79.60 R2: 80.60
MCX Nickel July : Rallies to 743/747 likely to find resistance for a move lower towards 715-710 levels.Only a rise above 765 to negate this bearish view S1:720 S2:710 R1: 745 R2: 758
INTERNATIONAL SPOT VIEW:-Gold breakdown below 920$ yesterday and attained a low of 904.7$.
Expect lower level of 900$, 879$ and 864$ to be tested.
Resistance will be at 913$, 920$ and 925$.
Resistance levels can be used to sell and exit long positions.
Recovery from 900$ can test the resistance and if sustains can test the yellow color trend line.
The bias is for lower top and lower bottom formation for immediate near term situation.
INTERNATIONAL SPOT SILVER VIEW:-Hold short positions with a stop loss of 13.15$.
Expect lower level of 12.54$ to be tested.
A channeled fall is being witnessed. The price movement has been below the blue color trend line as shown in the chart
NYMEX CRUDE:-A correction down towards 38.2% is likely to be tested in days to come which are around 58$.
Traders who are holding short positions can maintain a stop loss of 63$ to hold short positions.
MCX TRADING STRATERGY:- SILVER MCX :-Sell on fall and close below 21460 with high of the day stop loss or 21769 whichever is higher at the point of breakdown.
Traders can wait for a rise above 21769 and when it falls below 21769 then sell with high above 21769 as the stop loss.
A breakout and close above 22021 can reverse the sequence of lower top and lower bottom formation. It can also subsequently give a breakout of the falling channel as shown in the chart
MCX GOLD ;-Yesterday price movement erased the gains registered on Monday and the stop loss was violated on the trading long side. It was expected that the pink color trend line could be tested but the same did not happen.
Traders holding long positions can look for rise to 14526-14594 to exit long and to sell.
Re-enter long on rise and close above 14624.
One again the convergence between the new trend line looks to have begun.
Violation of red color trend line can mean a sharper fall in gold price.
Support overall will be at 14400.
Immediate range is 14624-14400
Wednesday, July 8, 2009
VIEWS FOR 8TH JULY 2009
MCX Silver September: Prices seem extremely oversold , downside limited. Break below 21472 to take prices to support levels at 21241- 21158. Favored view expects supports to hold dips for a rally higher.S1: 21630 S2: 21460 R1: 21980 R2: 22250
MCX Copper August : After failing to cross 249 has once again got into the bearish mode. Rallies to 243-244 can be sold for a fall towards 235 - 233 levels.Only rise above 249.50 to dent the bearish view .S1: 237 S2: 234 R1: 244 R2: 247.5
MCX Crude Oil July : Indicators point prices are extremely oversold. Important support at 3043 followed by 2996.Ideally, a turn can be expected from one of these levels targeting 3200- 3230.Fall below 2995 to raise doubt about the view. S1: 3040 S2: 3000 R1: 3130 R2: 3175
MCX Lead July : Rallies to 80.80/81.20 likely to find resistance for a move lower towards 78.50 levels. Only a rise above 83.20 to negate this bearish view S1: 79.60 S2: 78.50 R1: 81.60 R2: 82.60
MCX Zinc July: Rallies to 75.60/75.80 likely to find resistance for a move ower towards 73.50 levels. Only a rise above 77.15 to negate this bearish view.S1: 74.5 S2: 73.40 R1: 76.3 R2: 77.2
MCX Nickel July : Rallies to 770/775 likely to find resistance for a move lower towards 740/735 levels. Only a rise above 783 to negate this bearish view. S1:750 S2:736 R1: 775 R2: 789
MCX Natural Gas July : Rallies to 174/178 likely to find resistance for a move lower towards 165 levels. Only a rise above 182 to negate this bearish view .S1: 165 S2: 162 R1: 173 R2: 176
TRADING STRATEGY ::
GOLD MCX AUGUST ::
Expect a rise towards 14651-14698.
The earlier converging lines which we have been indicating were modified now. New trend line are being displayed now.
Expect the pink color trend line to be tested.
Corrective dip to 14573-14526 can be used for buying with a stop loss of 14495. Take profit on rise to L3-L4 levels as the opportunity arises.
SILVER MCX SEPTEMBER ::
Cover short positions at 21687-21495 range as the opportunity arises.
Traders holding short positions can maintain a stop loss of 21975.
Higher range of 22104 can be tested on sustained rise above 21975 during the day.
INTERNATIONAL SPOT GOLD ::
Support is at 920$.
Sell on fall below 920$.
Resistance will be at 931$-934$.
Traders holding short positions can maintain a stop loss of 934$.
A sideways movement is being witnessed.
INTERNATIONAL SPOT SILVER ::
Sell on fall and close below 13$ with high of the day stop loss or 13.34$ whichever is higher at the point of breakdown.
Expect lower range of 12.54$ to be tested in days to come.
A breakout and close above 13.35$ will also mean a trend line breakout from the blue color trend line. If that happens then expect a pullback rise for near term.
NYMEX LIGHT CRUDE OIL ::
A breakdown was indicated in our previous update.
A correction down towards 38.2% is likely to be tested in days to come which is around 58$.
Traders who are holding short positions can maintain a stop loss of 65$ to hold short positions.
SPECIAL REPORT ON COMEX HG HIGH GRADE COPPER AS ON 8TH OF JULY ::
HG COMEX COPPER:- The wave structure of the rise from 72$(2001) to 404$(2006) shows a 5 wave increase and then a corrective irregular flat pattern move down to 125$(2008).
A pullback rise has been witnessed from 125$ to 245$.
Support will be at 211$.
A fall and close below 211$ will begin its down movement in form of Wave C.
Wave B of correction could get terminated at current level or on rise to 265$-297$.
The second alternate combination suggest that one rising cycle and a correction complete as shown in the below chart.
A new up move has begun and will can be confirmed above 297$.
Any correction now will create a higher bottom against 125$ and make way further up.
Correction down to 196$, 180$ and 171$ will be opportunity for accumulation as higher bottom is expect to cross 297$ and make new high.
Conclusion :-
The situation at this point is not completely clear where the price direction will take course further.
A dual strategy can be adopted based on respective positions.
Traders who are long can keep a stop loss of 211$ and look for rise to exit and take profit 265$-297$ range.
In the same trade traders can go short on fall below 211$ with high as stop loss or the immediate near term peak of 246$ whichever is higher at the point of breakdown.
MCX Copper August : After failing to cross 249 has once again got into the bearish mode. Rallies to 243-244 can be sold for a fall towards 235 - 233 levels.Only rise above 249.50 to dent the bearish view .S1: 237 S2: 234 R1: 244 R2: 247.5
MCX Crude Oil July : Indicators point prices are extremely oversold. Important support at 3043 followed by 2996.Ideally, a turn can be expected from one of these levels targeting 3200- 3230.Fall below 2995 to raise doubt about the view. S1: 3040 S2: 3000 R1: 3130 R2: 3175
MCX Lead July : Rallies to 80.80/81.20 likely to find resistance for a move lower towards 78.50 levels. Only a rise above 83.20 to negate this bearish view S1: 79.60 S2: 78.50 R1: 81.60 R2: 82.60
MCX Zinc July: Rallies to 75.60/75.80 likely to find resistance for a move ower towards 73.50 levels. Only a rise above 77.15 to negate this bearish view.S1: 74.5 S2: 73.40 R1: 76.3 R2: 77.2
MCX Nickel July : Rallies to 770/775 likely to find resistance for a move lower towards 740/735 levels. Only a rise above 783 to negate this bearish view. S1:750 S2:736 R1: 775 R2: 789
MCX Natural Gas July : Rallies to 174/178 likely to find resistance for a move lower towards 165 levels. Only a rise above 182 to negate this bearish view .S1: 165 S2: 162 R1: 173 R2: 176
TRADING STRATEGY ::
GOLD MCX AUGUST ::
Expect a rise towards 14651-14698.
The earlier converging lines which we have been indicating were modified now. New trend line are being displayed now.
Expect the pink color trend line to be tested.
Corrective dip to 14573-14526 can be used for buying with a stop loss of 14495. Take profit on rise to L3-L4 levels as the opportunity arises.
SILVER MCX SEPTEMBER ::
Cover short positions at 21687-21495 range as the opportunity arises.
Traders holding short positions can maintain a stop loss of 21975.
Higher range of 22104 can be tested on sustained rise above 21975 during the day.
INTERNATIONAL SPOT GOLD ::
Support is at 920$.
Sell on fall below 920$.
Resistance will be at 931$-934$.
Traders holding short positions can maintain a stop loss of 934$.
A sideways movement is being witnessed.
INTERNATIONAL SPOT SILVER ::
Sell on fall and close below 13$ with high of the day stop loss or 13.34$ whichever is higher at the point of breakdown.
Expect lower range of 12.54$ to be tested in days to come.
A breakout and close above 13.35$ will also mean a trend line breakout from the blue color trend line. If that happens then expect a pullback rise for near term.
NYMEX LIGHT CRUDE OIL ::
A breakdown was indicated in our previous update.
A correction down towards 38.2% is likely to be tested in days to come which is around 58$.
Traders who are holding short positions can maintain a stop loss of 65$ to hold short positions.
SPECIAL REPORT ON COMEX HG HIGH GRADE COPPER AS ON 8TH OF JULY ::
HG COMEX COPPER:- The wave structure of the rise from 72$(2001) to 404$(2006) shows a 5 wave increase and then a corrective irregular flat pattern move down to 125$(2008).
A pullback rise has been witnessed from 125$ to 245$.
Support will be at 211$.
A fall and close below 211$ will begin its down movement in form of Wave C.
Wave B of correction could get terminated at current level or on rise to 265$-297$.
The second alternate combination suggest that one rising cycle and a correction complete as shown in the below chart.
A new up move has begun and will can be confirmed above 297$.
Any correction now will create a higher bottom against 125$ and make way further up.
Correction down to 196$, 180$ and 171$ will be opportunity for accumulation as higher bottom is expect to cross 297$ and make new high.
Conclusion :-
The situation at this point is not completely clear where the price direction will take course further.
A dual strategy can be adopted based on respective positions.
Traders who are long can keep a stop loss of 211$ and look for rise to exit and take profit 265$-297$ range.
In the same trade traders can go short on fall below 211$ with high as stop loss or the immediate near term peak of 246$ whichever is higher at the point of breakdown.
Tuesday, July 7, 2009
VIEWS FOR 7TH JULY 2009
MCX Gold August: Rallies to 14550/14581 to find resistance for a fall lower towards 14346-14330, break above 14676 will negate this bearish view. S1: 14395 S2: 14280 R1: 14590 R2: 14670
MCX Silver September: As long as 21539 holds support expect corrective rallies towards 22350 - 22420,break below 21440 will negate this bullish view. S1: 21630 S2: 21460 R1: 21980 R2: 22250
MCX Copper Aug:Rallies to 244-245 to find resistance for fall lower toward 234-233; break above 249 willnegate bearish view. S1: 239 S2: 235 R1:245 R2:248
MCX Crude Oil July : Rallies to 3150-3165 to find resistance for a fall lower towards 3034/3019; break above3189 will negate this bearish view. S1: 3080 S2: 3040 R1: 3160 R2: 3205
MCX Lead July : Rallies to 81.80/82.40 likely to find resistance for a move lower towards 79.50 levels. Only a rise above 83.10 to negate this bearish view S1: 80.60 S2: 79.50 R1: 82.60 R2: 83.60
MCX Zinc July: Rallies to 75.30/75.60 likely to find resistance for a move lower towards 72.50 levels. Only arise above 76.20 to negate this bearish view. S1: 74.5 S2: 73.40 R1: 75.9 R2: 76.9
MCX Nickel July : Rallies to 776/781 likely to find resistance for a move lower towards 755 -745 levels. Only arise above 785 to negate this bearish view S1:760 S2:746 R1: 788 R2: 800
MCX Natural Gas July : Rallies to 174/178 likely to find resistance for a move lower towards 165 levels. Only a rise above 182 to negate this bearish view. S1: 165 S2: 162 R1: 173 R2: 176
TRADING STRATEGY ::
GOLD MCX AUGUST ::
The converging trend line has come to a point of intersection. Yesterday, we saw gold recovery from the low of 14408. The low of 14407 was not violate in last 4-5 trading days.
A breakout and close above 14624 will bring about a near term rally.
A fall and close below 14400 will bring about a fall.
SILVER MCX SEPTEMBER ::
Cover short positions on dip to 21738-21677 as the opportunity arises.
Sell again on fall and close below 21480.
Resistance of 21981-22021 range could be tested.
INTERNATIONAL SPOT GOLD ::
Expect the level of 912$ to be tested.
Traders got into short positions or intend to sell can keep a stop loss of 934$.
Support and recovery from 912$-910$ could be witnessed.
A close below 910$ can bring about a sustained slide.
INTERNATIONAL SPOT SILVER ::
Traders who are short need to maintain a stop loss of 13.46$.
Support is at 13$.
Traders can sell on fall below 13$ with high of the day stop loss or 13.46$.
The price movement is under the blue color trend line as shown in the chart.
Expect 87.5% retracement of the rise from 12.03$ to 16.22$ to be tested which is placed at 12.54$.
NYMEX LIGHT CRUDE OIL ::
A breakdown below the pink color trend line as shown in the chart has been witnessed.
The 23.6% retracement of the entire rise from 32.75$ to 73.80$ has been tested which is placed at 63.4$.
Further retracement levels 38.2%, 50% and 61.8% are placed at 58$, 53$ and 48$.
We could see price testing 58$ in days to come.
Expect attempts of pullback to test back the pink color trend line can be witnessed.
A close above 67.5$ can put Crude Oil back on track of rising path.
Monday, July 6, 2009
VIEWS FOR 6TH JULY 2009
MCX Gold August: Crucial supports are at 14363 followed by 14301 now. Favored view expects supports to be held at this level and rise higher. However,unexpected fall below 14301 to raise doubt on our bullish view. Such fall could drag price lower toward 13959 level. S1: 14370 S2: 14280 R1: 14550 R2: 14650
MCX Silver Sep:Fall below 21534 show weakness. Near-term support at 21308 .Failure to hold support here could drag prices further lower.S1: 21530 S2: 21360 R1: 21780 R2: 21950
MCX Copper August : Fall below 242.7 has opened the downside for copper. Initial support is at 238.7. Failure to hold support here could drag prices further lower towards 233.10/235.2 levels. Resistances are at 242.7/243.8 now.S1: 239 S2: 235 R1: 245 R2: 248
MCX Crude Oil July : Strong support is seen at 3132. It looks like this support could be broken for next decline towards an important support at 3069 or possibly 3004. Failure to break below 3132 would suggest that the uptrend might still be intact and resume the bullishness again.
MCX Zinc July: Rallies to 75.10/75.30 likely to find resistance for a move lower towards 72.50 levels. Only a rise above 76.0 to negate this bullish view. S1: 73.5 S2: 72.40 R1: 75.4 R2: 76.5
MCX Lead July : Rallies to 81.80/82.10 likely to find resistance for a move lower towards 79.50 levels. Only a rise above 83.10 to negate this bullish view S1: 80.60 S2: 79.50 R1: 82.60 R2: 83.60
MCX Nickel July : Rallies to 776/781 likely to find resistance for a move lower towards 755 levels. Only a rise above 785 to negate this bullish view S1:760 S2:746 R1: 788 R2: 800
MCX Natural Gas July : Rallies to 179/181 likely to find resistance for a move lower towards 165 levels. Only a rise above 185 to negate this bullish view. S1: 170 S2: 167 R1: 179 R2: 183
GOLD MCX AUGUST ::
The trend line is held well on Gold chart as of Saturday’s session.
Support of 14407 not violated.
The price movement are getting narrower and moving within the converging lines.
Sell on fall below 14400 with high of the day stop loss.
Traders who are already short can keep a stop loss of 14581.
SILVER MCX SEPTEMBER ::
The volume registered last week was highest and larger.
The low registered last week was 21480.
Sell on fall below 21480 with high of the day stop loss at the point of breakdown.
Intra-day traders wait for rise above 21937 and when it falls below 21937 then sell with high above 21937 as the stop loss.
INTERNATIONAL SPOT GOLD ::
A sideways movement in a band of 950$-920$ is being witnessed with volatility. Overall objective can be to exit long and sell on rise with a stop loss of 950$.Support will be at 920$ and 910$.
INTERNATIONAL SPOT SILVER ::
A breakdown below 13.59$ and 13.46$ has been witnessed.
The blue color trend line has not been crossed.
Expect the 75% and 87.5% retracement level of 13.10$ and 12.57$ to be tested.
Resistance will be at 13.46$-13.59$-13.86$.
Traders who are short can maintain a stop loss of 13.86$.
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