MCX Gold April: Minor support is at 16540 followed by important support at 16435 levels now. Rallies to 16720/16735 to cap upside attempts now for a fall towards 16420/16435.
S1: 16540 S2: 16420 R1: 16720 R2: 16830.
S1: 16540 S2: 16420 R1: 16720 R2: 16830.
MCX Silver March: Break below 25860 took prices lower again. Good resistance will be seen at 25800-25860 levels now. Favoured view expects downside to extend towards 24610/24767 while below 25861-25940.S1: 25250 S2: 24770 R1: 25860 R2: 26120
MCX Copper Feb: Strong weekly supports are at 291/292 levels now. Ideally these levels
could hold for a retracement higher from here. Failure to do so could drag prices even lower. S1: 301 S2: 297 R1: 308 R2: 310.5.
could hold for a retracement higher from here. Failure to do so could drag prices even lower. S1: 301 S2: 297 R1: 308 R2: 310.5.
MCX Crude Oil Feb: Important support is at 3535 levels now followed by 3490. Unexpected fall below 3442 will force us to abandon any chance of bullishness towards 3625.
S1: 3535 S2: 3490 R1: 3594 R2: 3634.
MCX Zinc Feb: Ideally, 94.00/95.00 to hold for a pullback higher again.
S1: 95.6 S2: 94.80 R1: 97.6 R2: 98.9.
MCX Lead Feb: Support at 91 look vulnerable and could be broken. Subsequently we could see a retracement higher.S1: 92.6 S2: 91.0 R1: 95 R2: 96.5.
MCX Nickel Feb: Still in bullish consolidation now. Only fall below 829 could dash our
bullish hopes for a rally towards 875.S1: 838 S2: 832 R1: 852 R2: 860
bullish hopes for a rally towards 875.S1: 838 S2: 832 R1: 852 R2: 860
MCX Natural Gas Feb: Dips to 249 / 247 to find support for a move higher towards 259,
which are strong resistance levels and prices, prices, could retrace from these levels.
S1: 249 S2: 243 R1: 259 R2: 264
which are strong resistance levels and prices, prices, could retrace from these levels.
S1: 249 S2: 243 R1: 259 R2: 264
INTERNATIONAL SPOT GOLD ::
Hold long positions with a stop loss of 1098$ and use rise to 1121$-1132$ to take profit.
Fresh trading long positions can be undertaken on close above 1125$.
INTERNATIONAL SPOT SILVER ::
Hold short positions with a stop loss of 16.93$.
Cover the same on dip to 16.10$-15.82$.
Sell on rise to 16.53$-16.77$ with a stop loss of 16.93$.
NYMEX NATURAL GAS ::
A range of movement has been in a wider band of 6.11$-5$.
Traders can buy on rise and close above 5.56$ with low of the day stop loss.
Support will be at 5.35$.
On fall below 5.35$, expect the range of 5$ to be tested again.
A minor lower top and lower bottom formation is being witnessed.
NYMEX LIGHT CRUDE OIL ::
Traders can take profit at current level or above to 78.10$ as the opportunity arises.
Expect a sideways movement or a minor correction.
Support is at 76.5$.
Fresh trading buy can be undertaken on rise and close above 78.10$.
TRADING STRATEGY ::
GOLD MCX APRIL ::
Hold long with a stop loss of 16560 or exit long on rise to 16688-16815. Re-enter long on rise and close above 16815 with low of the day stop loss.
SILVER MCX MARCH ::
Sell on rise to 25780-26101 with a stop loss of 26340.
Expect lower range of 25221-24900 to be tested
Expect lower range of 25221-24900 to be tested
ENJOY TRADING !!!!!
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