EXPECTATION FOR 23RD FEBRUARY 2010

MCX Gold April:

Support is now at 16629/16644 now. Stronger support is in the 16494 region. Ideally, supports  to hold for 17110 followed by 17245. The bullish stance could be given up if price falls below 16403. 
S1: 16612 S2: 16527 R1: 16772 R2: 16857

 

 

 

MCX Silver March:

Critical support is at 25112/25127 level now. Favored view expect support to hold for  rise toward 25783 or even higher. Fall below 25018 to dash our bullish hope.

S1: 25090 S2:24910 R1: 25430  R2: 25610

 

 

MCX Copper Feb:

Any corrective dips to 327.80/328.80 to hold for a move towards 345 level. First we expect a correction towards 327.80. Failure to hold here could drag price toward 325.50/326.80 levels.

S1:331.50 S2:327.50 R1:339.70 R2:343.70

 

 

MCX Crude Oil Feb:

Crucial support is at 3618 followed by 3595. Fav view expect supports to hold for a test of 3764.Fall below 3567 to dent our bullish view.

 S1: 3664 S2: 3624 R1:3734 R2:3774

 

 

 

MCX Zinc Feb: 

Critical support at 103.50 followed by 102.85. Failure to hold support here could drag price lower toward 101.50.Fav view expect supports to hold for rally higher again.
S1:104.70 S2:103.70 R1:105.70 R2: 106.70

 

 

 

MCX Lead Feb:

Supports are at 105 followed by 103.95 now.Supports expectedto hold for 107. Fall below 102.85 to hint at weakness.
S1:105.35 S2:104.35 R1:107.35. R2:108.35

 

 

MCX Nickel Feb: 

Supports are at 933 followed by 927 now. Look for supports to hold and rise towards 965-967 levels.

S1: 931 S2: 921 R1: 951 R2: 961

 

 

MCX Natural Gas Feb:

While above 221 look for a pullback toward 236 level.
S1: 222 S2: 219 R1: 228 R2: 231 

 

TRADING  STRATEGY ::

MCX SILVER TRADING STRATERGY :-

 

The ADX  is still falling and the upside movement is not getting the desired momentum. As the important support was some time back of 25935 was violated. The same has the resistance overhead therefore upside seems to be capped in spite of the chart look that price would move higher.  This kind of behavior is the typical of pullbacks and lower top and lower bottom formation.

Exit long positions and sell on rise to 25378-25607 with a stop loss of 25725.  Buy on rise above 25725 with low of the day stop loss

 

MCX GOLD TRADING STRATERGY :- 

 

Exit long positions and sell on rise to 16744-16837 with a stop loss of 16889.

Fresh long can be undertaken on rise and close above 16890 with low of the day stop loss

 

SPOT GOLD :- 

 

Traders still holding long positions can keep a stop loss of 1097$.

Use rise from current level of 1124$-1141$ to exit long positions.

A strong rise above the red color line with positive candle can bring about a further rally towards 1161$.

Sell on fall below 1097$ with high of the day stop loss

 

SPOT SILVER :- 

 

Traders by chance still long and keep a stop loss of 15.65$.  

Fresh trading long can be undertaken on rise and close above 16.55$ with low of the day stop loss