Monday, November 15, 2010

MCX & COMEX OUTLOOK FOR 15TH NOVEMBER 2010

Mcx Gold Dec: Rallies to 20200/20270 to hold for a decline towards 19800 / 19600 now. Break of 20400 will negate this bearish view.
S1 19750 S2 19450 R1 20426 R2 20700

 
Mcx Silver Dec: Rallies to 39900/40400 to hold for a decline towards 38100/ 37000 now. Unexpected break of 41300 to dent this bearish view.
S1 38160 S2 37200 R1 41300 R2 42000

 
Mcx Copper Nov: Rallies to 393.60/396 to hold for a decline towards 380/372 now. Prices to rise past 402 to cause doubt on this view.
S1 382 S2 367 R1 402 R2 408

 
Mcx Crude Nov: Dips to 3800/3780 to take prices higher towards 3960/4100 now. unexpected fall below 3733 to dent this bullish view.
S1 3777 S2 3733 R1 3970 R2 4100

 
MCX Nickel Nov: Rallies to 1037/1044 to hold for a decline towards 970/900 now.
S1 995 S2 965 R1 1040 R2 1058

 
MCX Lead Nov: Rallies to 112/114 to hold for a decline towards 106/104 now.
S1 106 S2 104 R1 112 R2 114

 
MCX Zinc Nov: Rallies to 106/107 to hold for a decline towards 101/98 now.
S1 100.50 S2 97.60 R1 105.80 R2 108

 
MCX Nat gas Nov: Dips to 168 to hold for 180/196. Unexpected break below 163 to cause doubt on this view.
S1 163 S2 155 R1 182 R2 195

 
MCX SILVER TRADING STRATERGY :: 

Exit long and sell on rise to 39563-40125 with a stop loss of 41110.
Expect lower range of 38575-37025 to be tested.
MCX GOLD TRADING STRATERGY;-Exit long on rise to 20133-20260-20475 as the opportunity arises. On sustained fall below 19996 downward movements could further accelerate.

COPPER LME :: 

The first peak was made in 2006 at 8790$.
The second multiple peak was made just above 8790$ but failed to show the weekly close above 8790$. The peaks made in 2008 were 8810$, 8880$ and 8930$. All these occasion when the peak was made in 2008 the close was lower below 8790$. This means that strong resistance and selling pressure do get witnessed at 8790$ or above.
Last week,  we saw Copper peak the peak again above 8790$ by making a high of 8920$ and closed lower at 8670$.
Resistance zone of 8790$-8930$ continues at higher range. Profit booking at 8717$-8900$ is broadly suggested or keep  a stop loss of  8025$.
Corrective dip to 8513$-8153$ can be used for buying. Further long positions can be added on close above 8930$.
Hold long positions if any with a stop loss of 8025$.

ZINC LME ::

Hold long positions if any with a stop loss of 2363$.
Traders can Exit long positions on rise to 2460$-25554-2765$ as the opportunity arises.
 A breakout and close above 2730 can bring about a near term rise to 2900$ to 3227$.
Violation of stop loss and weekly closing below the same can bring about correction before making any other attempt to move higher.

TIN LME ::  

Hold long  positions if any with a  stop loss of 25500$.
Fresh trading long positions can be undertaken above 27325$ with low of the day stop loss.

NICKLE LME :: 

Exit long on rise to 23248-2472 to exit long position and re-enter long on rise and close above 25125

LEAD LME ::

Hold long positions if any with a  stop loss of 2380$.
Expect higher range of 2548$-2553$ to be tested.

SPOT GOLD ::

Exit long on rise to 1379-1399 and sell with a stop loss of 1424.10$. Expect lower range of 1348$-1298$ to be tested.

SPOT SILVER ::

Exit long and sell on rise to 26.51$-27.23$-29.16$ as the opportunity arises.
Expect lower range of 25.3$-23.37$ to be tested.

NYMEX CRUDE ::

Exit long and sell on rise to 85.75$-86.98$ with a stop loss of 89$. Buy above 89$ with low of the day stop loss.
Buy at 83.65-80.3 with a stop loss 79$.


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