VIEWS FOR 15TH JULY 2009

MCX Gold August: Initial resistance is at 14687-14700 followed by 14751- 14766.Supports are at 14608 followed by 14529.Favored view expects test of resistance levels while above 14529. Could even extend to 14798- 14814 levels.S1: 14550 S2: 14450 R1: 14760 R2: 14870

MCX Silver September: Resistance is at 21817 followed by 21984. Possibility exists for a run towards 22419 as long as 21604 holds. Fall below 21065 to dent our bullish expectations.S1: 21370 S2: 21200 R1: 21780 R2: 21950

MCX Copper August : Headed towards 254- 255 being an important resistance level. It is likely that we see a corrective dip from there.Supports are at 244 followed by 241.5. S1: 243 S2: 239 R1: 250 R2: 253

MCX Crude Oil August : Important support is at 2975 now. Fall below this level to postpone the bullishness. Supports are at 2975 followed by 2956.Ideally, supports to hold for a rally towards 3124 or even higher. fall below 2950 to dent our bullish expectations.S1: 2945 S2: 2920 R1: 3030 R2: 3060

MCX Zinc July: While above 71.20 levels expect prices to target 74.30/74.65 levels.Only a fall below 71.20 to negate bullishness. S1: 71.4 S2: 70.30 R1: 73.5 R2: 74.5

MCX Lead July : Dips to 76.70 to find support for a move higher towards 78.60 levels.Fall below 75.75 to negate this bullish view. S1: 76.0 S2: 75.00 R1: 78.00 R2: 79.00

MCX Nickel July : Dips to 748/744 to find support for a move higher towards 770 levels . A fall below 730 to raise doubts. S1:744 S2:732 R1: 768 R2: 780

MCX Natural Gas August : Dips to 174/171 to find support for a move higher towards 182 levels.Fall below 169 to negate bullishness .S1: 173 S2: 168 R1: 179 R2: 183

MCX Mentha Oil July: - Oversold indicators indicate a likelihood of correction. S1:- 478 S2:- 473 R1:- 487 R2:- 495

TRADING STRATEGY ::

GOLD MCX AUGUST ::

The trend is up.
Corrective dips to Rs. 14637 – 14585 can be used for buying with stop loss placed at Rs. 14566.
Expect a rise towards Rs. 14709 – 14761.
Add more on breakout and close above Rs. 14823.
As the trend is up, intra-day traders can wait for a fall below Rs. 14637 and when it rises above Rs. 14637, then buy with whatever low registered below Rs. 14637 as a stop loss. Subsequently, book profits at Rs. 14709 – Rs. 14761 range or above.

VIEWS FOR 14TH JULY 2009

MCX Gold August: Dips to 14500/14469 to find support for a move higher towards 14722 . A rise above 14786 to strengthen bullishness.A fall below 14374 to lessen the chance of this move.S1: 14490 S2: 14380 R1: 14690 R2: 14790

MCX Silver Sep: Dips to 21366-21299 to find support for move higher toward 22187-22270 level. Fall below 20931 to raise doubt .S1:21270 S2:20950 R1:21580 R2:21750

MCX Copper August : Break above 242.5 to set the tone for a rally towards 250-251 levels. Daily close above 255 to open the upside again towards 266 or even higher. Fall below 236 to lessen the chances of bullishness. S1: 236 S2: 233 R1: 244 R2: 247

MCX Crude Oil August : Possibility of a corrective rise towards 3085 - 3135 area while price stays above 2896. Ideally the decline should continue after this corrective rally. If the rally exceeds 3265 then the chart might look less bearish. S1: 2945 S2: 2920 R1: 3030 R2: 3060

MCX Zinc July: Corrective rallies may target 72.70 or even 73.20 as long as 71.0 levels hold. A move above 74.3 is needed to strengthen bullishness.S1: 70.4 S2: 69.30 R1: 72.0 R2: 73.0

MCX Lead July : Corrective rallies may target 76.8 or even 78.10 as long as 75.0 levels hold. A move above 79.10 is needed to strengthen bullishness.S1: 74.90 S2: 73.80 R1: 76.60 R2: 77.60

MCX Nickel July : Corrective rallies may target 736 or even 740 as long as 708 levels hold. A move above 741 is needed to strengthen bullishness.S1:710 S2:697 R1: 735 R2: 750

MCX Natural Gas Aug: Break above 165 to take price towards 171 - 176 levels. Fall below 159 to signal more bearishness ahead. S1: 156 S2: 152 R1: 164 R2: 167

TRADING STRATEGY ::

INTERNATIONAL SPOT GOLD ::

Upside movement was witnessed to test the resistance level of 925$.
Expect resistance of 925$ to be tested and the yellow color falling trend line which is placed around the same 925$-928$ range.
Support will be at 915$-900$.
A rise to test the resistance and yellow trend line could be seen. Subsequently, a reaction down is possible.
In case of a breakout and close above the yellow line then expect the rise towards the lower top of 948$ and the red color trend line which was earlier violated. In that case, later we will have to take the retracement of the fall from the peak of 989$ to 904$.

INTERNATIONAL SPOT SILVER ::

Cover short positions at current price and on dip to support of 12.62$-12.44$.
Sell again on fall and close below 12.44$.
Resistance will be tested which are placed at 12.89$-12.97$.
A breakout and close above 12.97$ will mean a breakout up out of the falling channel. The price have been moving under the blue color trend line.

NYMEX LIGHT CRUDE OIL ::

The fall has got slower and has almost got halted.
Support range is at 58$-56$. A minor bounce up is possible to create lower top.
Resistance will be at 60$-62$.
If the resistance is crossed then the pullback can be witnessed towards the earlier broken bottoms which are in the range of 66$. It will first make a lower top and later we can decide if it has the strength to cross the high. Initially rise will potentially make a lower top of the pullback rise.

NOTE :: IT IS GOOD TO FOLLOW INTERNATIONAL STRATEGY FOR TODAY AS GOOD FLUCTUATION SEEN IN USDINR !!!

ENJOY TRADING !!!

VIEWS FOR 13TH JULY 2009

MCX Gold August: Bearish indications in the daily chart show that there is a good chance for the price todecline towards 14304 or 14229. Fall below 14372 would increase the chances for this fall. Resistance isseen at 14579-14645 . Price needs to rise past 14715 to lessen the scope for this decline.S1: 14390 S2: 14280 R1: 14590 R2: 14690

MCX Silver September: Resistances are at 21683 followed by 21952. Break above 21952 to trigger a sharprally higher towards 22900 levels.However, resistances at 21960 to be very strong and only a daily closeabove this level to re-inforce bullish expectations.S1: 21070 S2: 20800 R1: 21480 R2: 21750

MCX Copper August : Break above 243 to set the tone for a rally towards 249/250 levels. Daily close above 255.5 to open the upside again towards 266 or even higher. Fall below 235 to lessen the chances of bullishness.S1: 236 S2: 233 R1: 244 R2: 247

MCX Crude Oil August : Possibility of a corrective rise towards 3093/3145 area while price stays above 2900. Ideally the decline should continue after this corrective rally. If the rally exceeds 3275 then the chart might lookless bearish. S1: 2945 S2: 2920 R1: 3030 R2: 3060

MCX Zinc July: Rallies to 73.75/73.90 to find resistance for a move lower towards 72.0 levels . A rise above 74.85 to negate this bearish view. S1: 72.2 S2: 71.20 R1: 74.0 R2: 75.0

MCX Lead July : Rallies to 77.90/78.20 to find resistance for a move lower towards 76.0 levels . A rise above 79.25 to negate this bearish view. S1: 76.90 S2: 75.80 R1: 78.60 R2: 79.60

MCX Nickel July:Rally to 724/730 to find resistance for move lower toward 700 level . Rise above 737 to negate bearish view. S1:707 S2:690 R1: 730 R2: 744

MCX Natural Gas Aug : Break above 176 to take price toward 181 level. Fall below 173 to signal more bearishness ahead. S1: 170 S2: 167 R1: 175 R2: 178


GOLD MCX AUGUST ::

Trend line support is being witnessed. Support range is at 14443-14381
A fall below 14381 will show a sharper and sustained fall.
Resistance will be at 14524-14555.
Cover short positions at support of 14473-14443 as the opportunity arises.
A rise towards 14525-14555 range is possible.
If it sustains then lower top of 14624 could be tested.

SILVER MCX SEPTEMBER ::

The fall is in a regression channel as shown in the chart. Sell on rise to 21309-21493 with a stop loss of 21599.
Expect lower range of 21073-20889.
Sell further on fall below 21126 with high of the day stop loss or 21599 whichever is higher at the point of breakdown.

INTERNATIONAL SPOT GOLD ::

The price movement on Friday was an In Side Day. Therefore the support and resistance remain the same for Monday. Support is at 900$. On fall and close below 900$, expect the slide to continue towards 879$.
Resistance will be at 918$-925$.

INTERNATIONAL SPOT SILVER ::

A systematic fall is being witnessed in the falling channel below the blue color trend line. The 87.5% retracement level as indicated also was attained.
Support will be at 12.52$-12.42$.
Traders holding short positions can maintain a stop loss of 12.97$.
Resistance will be at 12.76$-12.97$.
Sell further on fall and close below 12.42$. If that happens then expect a slide down towards 12.03$.

NYMEX LIGHT CRUDE OIL ::

A correction down towards 38.2% is likely to be tested in days to come which are around 58$. Traders who are holding short positions can maintain a stop loss of 61.63$ to hold short positions.
Support will be at 58$-56$. Traders holding short positions can cover at support level range as the opportunity arises.


HG COPPER COMEX ::

The orange color trend line support is being witnessed. Support is at 214.2$-211$.
Sell on fall below 211$.
The resistance trend line is the yellow color trend line.
The lower top is placed at 236.5$.
Immediate last 2 days high is at 224.35$.
A rise above 225$ can take the price towards the yellow trend line which is placed at 231$.
Resistance will be at 231$-236$.