MCX & COMEX EXPECTATIONS FOR 31ST MAY 2010

MCX  &  COMEX  EXPECTATIONS  FOR  31ST  MAY  2010 ::

MCX Gold June: Support is at 18237-18207 levels now.  As long as supports hold we could expect a move higher again towards 18540.A break below 18190 could see 18010 levels.
S1 18395 S2 18315 R1 18535 R2 18615

MCX Silver July: As long as 29520 caps the upside prices could test support at 28870-28760. Dips could be held here for a move higher again.Direct rise above 29520 would negate this view.
S1 29100 S2 28920 R1 29440 R2 29620

MCX Copper June: Dip to 320 could hold for a rally toward 328 levels now. Direct fall below 319 would negate this view. 

S1 317.55 S2 313.55 R1 324.55 R2 328.55

MCX Crude Oil June: Dips to 3424 followed by 3368 to hold for a move towards 3578. Direct fall below 3354 would cause doubts about this view.

S1 3425 S2 3385 R1 3495 R2 3535

MCX Zinc June: Important supports at 88.00/87.50 could hold declines for a move towards 91.00 levels again. Direct fall below 87.00 to negate this view.

S1 88.20 S2 87.20 R1 90 R2 91

MCX Lead June: We could see prices trading in the range 83.00 / 87.50. A break on either side could decide the next directive move.

S1 84.35 S2 83.35 R1 86.15 R2 87.15

 

MCX Nickel June: Support at 974 levels now. A breach of the same could see prices edge lower towards 945. Rallies could find resistance at 1015/1025.

S1 976 S2 964 R1 996 R2:1008

MCX Natural Gas June:A break above resistance at 206 to see further move towards 211-215 levels. Dips could find support at 198/195 levels now.

S1 200 S2 196 R1 206 R2 210

 

INTERNATIONAL  SPOT  GOLD :: 

Traders got into long positions yesterday as mentioned can keep a stop loss of 1200$.
Expect higher range of 1218$-1232$ to be tested and can be used for profit booking.

INTERNATIONAL  SPOT  SILVER  :: 

Hold long positions if any now with a stop loss of 17.90$.
Expect higher range of 18.57$-18.97$ to be tested and can be used for profit booking.

NYMEX  LIGHT  CRUDE  OIL :: 

Hold long positions with a stop loss of 70.6$ and look for rise to 74.2-75.4-78.01$ to exit long positions.
The violated trend line can offer resistance at higher range.
Traders can buy above 75.75$ with low of the day stop loss.

GOLD  MCX  JUNE :: TRADING  STRATEGY :: 

Gold needs to take off the peak of 18648 and close above it with a positive candle.  On fall and close below 18264 can bring about a near term breakdown.
Traders by chance holding long positions can keep a stop loss of 18264 and look for rise to 18507-18689 during the day to take profit. Re-enter long of the close is above 18648. Check at the time of closing. If the price is above 18648 with a strong positive candle then rally can get extended towards 18950-19340.

SILVER  MCX  JULY :: TRADING  STRATEGY :: 

Hold long positions if any with a stop loss of 28903.
Fresh trading long positions can be undertaken on rise and close above 29493 with low of the day stop loss

MCX  VIEWS  WLL BE UPDATED  SOON :)

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