MCX & COMEX EXPECTATIONS OUTLOOK FOR 1ST JUNE 2010

MCX  &  COMEX  EXPECTATIONS  OUTLOOK  FOR  1ST  JUNE  2010 ::

MCX Gold June: Support at 18265-18220 could hold for rise toward 18625. Break below 18145 would cause doubt about view
S1 18315 S2 18235 R1 18455 R2 18535

 

MCX Silver July: As long as support at 28975/28900 hold, expect move higher to 29890/29970 level. Direct fall below 18.32 would negate view
S1 29120 S2 28940 R1 29460 R2 29640

 

MCX Copper June: Important support at 315 level. Breach of it could see move lower toward 304. Rally could be capped at 322/323 level
S1 315.80 S2 311.80 R1 322.80 R2 326.80

 

MCX CrudeOil June: Dip to 3405 followed by 3350 to hold for move toward 3570.Direct fall below 3335 would cause doubt about view
S1 3430 S2 3390 R1 3500 R2 3540

 

MCX Zinc June: Important support at 88.00. While above 88 there is chance price could rise to 90.50-91 level again. Direct fall below 88 could open 88 could open downside for 86/ 85 level
S1 88.30 S2 87.30 R1 90 R2 91

 

MCX Lead June: We could see price trading in the range 83.00/87.50. Break on either side could decide next directive move
S1 84.70 S2 83.70 R1 86.50 R2 87.50

 

MCX Nickel May:Support at 974 level. Breach of 974could see price edge lower toward 945. Rally could find resistance at 1015/1025.
S1 979 S2 967 R1 999 R2:1011

 

MCX Natural Gas June: Break above resistance at 206 to see further move toward 211-215 level. Dip could find support at 198/195 level now
S1 201 S2 197 R1 207 R2 211

 

 

MCX GOLD TRADING STRATERGY ::

A negative divergence on MACD is being witnessed.

Gold is at the trend line which is offering momentary support.

Support will be at 18287-18247.

Exit long positions on rise to 18530-18576-18616 as the opportunity arises.

Recent high of 18692 is likely to be near term top and the same gets confirmed on fall and close 18247.

MCX SILVER TRADING STRATERGY ::

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.

SPOT GOLD ::

Traders got into long positions yesterday as mentioned can keep a stop loss of 1200$.

Expect higher range of 1222$-1228$ to be tested and can be used for profit booking

SPOT SILVER ::

Hold long positions if any now with a stop loss of 17.90$.

Expect higher range of 18.64$-18.92$ to be tested and can be used for profit booking.

NYMEX CRUDE ::

Hold long positions with a stop loss of 70.6$ and look for rise to 75.42$-78.01$ to exit long positions.

The violated trend line can offer resistance at higher range

NYMEX NATURAL GAS ::

A breakout and close above 4.50$ can bring about a stronger rally in near term.

Traders holding long positions can look for rise to 4.41$-4.50$ to exit long. If the close is above 4.50$ with a positive candle then re-enter long positions.

 

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