A fall and close below 16.7$ can bring about a slide down towards 16.09$-15.7$ at least.
Traders who are holding short positions can keep a stop loss of 17.5$.
SPOT GOLD:-
Sell further on fall below 1074$ with high of the day stop loss at the point of breakdown.
Cover short positions for the time being at current price to 1074$ as the opportunity arises.
Resistance will be at 1107$-1118$. A rise above 1118$ can bring about a near term trading pullback.
An attempt to come above the red color trend line will be made before surrendering down again.
TINLME:-A negative divergence has been witnessed on 14 day RSI,
Support will be 17525$.
On fall below 172225 expect a slide further.
Traders can take profit on rise from current level of 17630-18820$.
LEAD LME:-A negative divergence on 14 week RSI is in place. Trend line breakdown has been witnessed.
Expect lower levels of 2106$-1982$ to be tested.
Sell on rise to 2299$-2375$ with a stop loss of 2500$.
NICKLE LME:-A negative divergence on RSI has been witnessed.
Overall use rise to 18650-18875 to exit long positions.
Sell on fall below 17975 with high of the day stop loss.
Support is at 17225$. On fall and close below 17225$ can bring about a significant slide.
ZINC LME:-A trend line breakdown was seen on the chart along with the RSI existing overbought zone which indicates near term slide or sideways movement.
Sell on fall below 2265$ with high of the day stop loss.
Traders holding short positions can keep a stop loss of 2615$.
Overall use rise to 2414$-2580$ to exit long positions.
MCX SILVER TRADING STRATERGY:-Traders by chance still holding short positions can keep a stop loss of 27325.
Sell on rise to 26868-27135 with a stop loss of 27325.
Cover short positions if any on dip to 26410-26143.
A close below 25935 could bring about a sustain slide.
We could find recovery from the lower range of 26410-26143 range.
A support in the range of 26600-25934 is visisble.
MCX GOLD TRADING STRATERGY:-Support will be at 16350.
Traders holding short positions can keep a stop loss at 16550.
Sell further on fall and close below 16350 with high of the day stop loss
MCX VIEWS ::
MCX Gold Feb: A pullback to 16722/16752 or even higher towards 16873 looks likely while above 16374.
S1: 16407 S2: 16327 R1: 16567 R2: 16647.
S1: 16407 S2: 16327 R1: 16567 R2: 16647.
MCX Silver March: Resistance at 27323 followed by 27638 levels now. Ideally, supports are at 26803/26850
to hold for a rally towards the above- mentioned levels. S1: 26610 S2: 26480 R1: 26870 R2: 27000.
to hold for a rally towards the above- mentioned levels. S1: 26610 S2: 26480 R1: 26870 R2: 27000.
MCX Copper February: While below 337.50 we can expect a pullback towards 347.70/348.70 levels.
S1: 337 S2: 333 R1: 345 R2: 349.
S1: 337 S2: 333 R1: 345 R2: 349.
MCX Crude Oil Feb: Resistance at 3450 followed by 3475 to cap for a test of crucial support at 3384.
This is our favored view. Rise above 3522 could diminish bearish expectations.
S1: 3405 S2: 3365 R1: 3485 R2: 3525.
This is our favored view. Rise above 3522 could diminish bearish expectations.
S1: 3405 S2: 3365 R1: 3485 R2: 3525.
MCX Zinc Jan: Pullbacks to 110.00/111.90 looks likely above 107 now.
S1: 105.40 S2: 103.50 R1: 109.40 R2: 111.40.
S1: 105.40 S2: 103.50 R1: 109.40 R2: 111.40.
MCX Lead Jan: Ideally A pullback towards 104.50/106.40 looks likely while above 102.
S1: 101.20 S2: 99.70 R1: 104.80 R2: 106.80.
S1: 101.20 S2: 99.70 R1: 104.80 R2: 106.80.
MCX Nickel Jan:Supports at 841 followed by 836 now. Failure to hold support here could dent
bullish expectation for test of 905/915 or even higher. S1: 841 S2: 836 R1: 854 R2: 859
bullish expectation for test of 905/915 or even higher. S1: 841 S2: 836 R1: 854 R2: 859
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