MCX & COMEX TECHNICAL REPORT FOR 2ND SEPTEMBER 2010

INTERNATIONAL SPOT GOLD ::


Exit long positions on rise to 1247-1252-1264$ as the opportunity arises, alternatively hold long positions with a stop loss of 1230$

INTERNATIONAL SPOT SILVER ::

Hold long positions with a stop loss of 19.20$ and use rise to 19.49$-19.77$ to take profit.

NYMEX CRUDE ::

Volatility band is now 76$-70$.
Move above 76$ can bring about some impulsion.
A breakdown below 70$ can bring about a slump.

MCX GOLD TRADING STRATERGY ::

Hold long positions with a stop loss of 18900 and use rise to 19035-19115 to exit long positions.
Weaker price to 18912-18859 can be used for buying with a stop loss of 18823 for newer positions.
Traders will to take chance can sell on the rise to 19035-19115 with a stop loss of 19158.
The trend is up with intra-day day or one or two days of sideways to corrective move to the lower range of 18912-18709 can be tested before a recovery again to move higher.
The peak is placed at 19285. Next round of major rise can come if the close is above 19285. Till then broadly exit long on the rise and take profit from current price to 19285 as the opportunity arises.

MCX VIEWS ::

Mcx Gold Oct: Resistance levels are seen at 19175 followed by 19220 to cap up moves for a lower towards 18960. A break above 19280 could negate this view.
S1 18930 S2 18850 R1 19070 R2 19150

Mcx Silver Dec: Support levels are seen at 30510 followed by 30460 to hold for a rise towards 31050 or even higher to 31400.A break below 30350 could cause doubt about this view.
S1 30580 S2 30400 R1 30920 R2 31100

Mcx Copper Nov: Support levels are seen at 353 followed by 351. Favored view is to buy on dips to 352 levels to hold for a rise towards 366.A break below 347 could negate this view.
S1 354 S2 350 R1 361 R2 365

Mcx Crude Sept: Dip to 3435-3420 to hold for move up toward 3555-3570. Unexpected fall below 3390 to dent bullish view.
S1 3455 S2 3415 R1 3525 R2 3565

MCX Nickel Sept: Supports at 987 followed by 978 levels now. Favored view expects supports here to hold for a test of 1018 or even higher to 1033 level now.
S1 987 S2 975 R1 1007 R2 1018

MCX Zinc Sept: Support at 99.30 followed by 98.70 levels now. Favored view expects supports here to hold for a test of 102.60 or even higher to 103.90 level now.
S1 99.40 S2 98.40 R1 101.20 R2 102.20

MCX Lead Sept: Supports at 98.30 followed by 97.8 levels now. Favored view expects supports here to hold for a test of 100.30 or even higher to 102 level now.
S1 98.50 S2 97.50 R1 100.30 R2 101.30

MCX Nat Gas Sept: consolidated in a range of 175-185.Favored view is to buy on dips to 176 for a rise towards 185. A break below 173 can drag down sharply to 165 levels.
S1 175 S2 171 R1 181 R2 185


ENJOY TRADING !!!!