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
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
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
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
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
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
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
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
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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