VIEWS & EXPECTATION FOR 28TH JANUARY OF MCX & COMEX COMMODITIES

MCX Gold Feb: Resistance at 16569/16599 to cap for a decline towards 16296 levels or even lower towards 15993 now. Unexpected, rise above 16751. 16751 to cause doubts on our bullish view. S1: 16361 S2: 16282 R1: 16522 R2: 16602.   MCX Silver March: Important resistance is at 26563/26610 now. Ideally prices could get capped for a decline towards 25500/25532. MCX Silver March: A strong retracement could occur from these levels.  S1: 25941 S2: 25811 R1: 26202 R2: 26331.   MCX Copper Feb: Strong resistance is at 337.25/338.30 levels now. This should cap for 321.70 levels now. S1: 327.80 S2: 323.80 R1: 335.75 R2: 339.75.   MCX Crude Oil Feb: Further scope of a decline towards 3436 exists while below 3531. S1: 3405 S2: 3365 R1: 3485 R2: 3525.   MCX Zinc Jan: While above 100 look for a bounce towards 104 levels.   S1: 100.20 S2: 98.40 R1: 103.90 R2: 105.80.   MCX Lead Jan: While above 95 look for 99 levels. Fall below 95 to dent our bullish exp. S1: 93.10 S2: 91.20 R1: 97.80 R2: 100.80   MCX Nickel Jan: Ideally, 825-30 to hold for a rally towards 850-70. Direct fall below 820 to drag prices lower.  S1: 826 S2: 821 R1: 840 R2: 848   MCX Natural Gas Feb: Chart look bearish for a fall towards 230/221. Rise above 249-252 to negate the bearish view. S1: 235 S2: 227 R1: 252 R2: 259     INTERNATIONAL  SPOT  GOLD ::   Traders holding short positions can keep a stop loss of 1105$ to hold short positions. Cover the same at current price to 1074$ as the opportunity arises. Sell further on fall below 1074$ with high of the day stop loss.   INTERNATIONAL  SPOT  SILVER  ::   Traders holding short positions can keep a stop loss of  17$. Support will be at 16.3$-16.08$-15.7$. Look for dip to the support to cover short positions.   NYMEX  LIGHT  CRUDE  OIL  ::    Support is at 74$-73.8$. Hold short positions with a stop loss of 75.5$. Sell further on fall and close below 72.5$. If the stop loss of 75.5$ is crossed then traders can buy on rise above 75.5$ with low of the day stop loss.   GOLD  MCX  FEB ::   Traders holding short positions can keep a stop loss at 16572. Sell further on fall and close below 16450 with high of the day stop loss. Traders can take chances to buy on rise above 16572 with low of the day stop loss.   SILVER  MCX  MARCH  ::   Traders by chance still holding short positions can keep a stop loss of 26947. Sell on rise to 26281-26541 with a  stop loss of 26947. Expect lower range of 25810-25550 to be tested.   ENJOY  TRADING !!!!

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VIEWS FOR 27TH JANUARY 2010 - TECHNICAL VIEWS MCX & COMEX

SPOT GOLD:-The trend violation was shown yesterday and now the zoomed chart is shown. Resistance is at 1104$. Traders short can keep a stop loss of 1104$. Buy on rise above 1005$ with low of the day stop loss. Cover short positions at current price to 1074$ as the opportunity arises. Sell on fall below 1074$ with high of the day stop loss or 1005$ whichever is higher   NYMEX CRUDE:-Support is at 74$-73.8$. Sell on fall below 73.8 with high of the day stop loss. Traders who are already short can keep a stop loss 75.50$ to hold short. Traders can buy on rise above 75.5 with low of the day stop loss or 73.8 whichever is lower   TIN LME:-A negative divergence has been witnessed on 14 day RSI, Support will be 17525$. On fall below 172225 expect a slide further. Traders can take profit on rise from  current level of 17630-18820$.   LEAD LME :-A negative divergence on 14 week RSI is in place. Trend line breakdown has been witnessed. Expect lower levels of 2106$-1982$ to be tested. Sell on rise to 2299$-2375$ with a stop loss of 2500$.   NICKLE LME :-A negative divergence on RSI has been witnessed. Overall use rise to 18650-18875 to exit long positions. Sell on fall below 17975 with high of the day stop loss. Support is at 17225$. On fall and close below 17225$ can bring about a significant slide.   SPOT GOLD ALERT:- The trend continues to receive hammering is seen consistently held below 1104. Once above 1104, which is more favoured today,expect rally till atleast 1114, Intraday spikes to 1131 region also cannot be ruled out, but expect liquidation pressure from as early as 1114 or 1126 to turn back lower again to the bear camp, which is now pointing towards 980, once below 1074   Watch out for: • China steps up measures to curb economic growth • Australia reports faster than expected inflation. AUD strengthens • German CPI • US FOMC Rate decision • US Weekly Crude Inventory Data   MCX GOLD TRADING STRATERGY:-Support will be at 16350. Traders holding short positions can keep a stop loss at 16572. Sell further on fall and close below 16350 with high of the day stop loss   MCX SILVER TRADING STRATERGY:-Traders by chance still holding short positions can keep a stop loss of 27325. Cover short position on dip to 26612-26676 as the opportunity arises. Sell on fall below 26600 with high of the day stop loss or 26947 whichever is higher         MCX Gold Feb: Resistance is at 16547/16562 now. Break and close above here could result in a retracement towards 16742/16787 levels now. However, fall below 16293 to cause doubts on this view. Such a fall could drag prices sharply lower towards 16082 or even lower towards 15662.S1: 16383 S2: 16303 R1: 16545 R2: 16625.     MCX Silver March: Resistance is at 27530/27562. Rise above this level can retrace towards 28263 levels. However, failure to cross the resistance could   the resistance could drag prices lower towards 25570 or 25252 now. S1: 26685 S2: 26555 R1: 26945 R2: 27075.     MCX Copper Feb: Crucial support at 339.80. While below here still expect break above 351 and test of 356.40/357.40.  S1:341.20 S2:337.20 R1:349.20 R2:353.20.     MCX Crude Oil Feb: Failure to cross-resistance at 3491-3508 to pressure prices lower towards 3391-3403 levels. However, direct rise above 3508. Above 3508 to take prices higher towards 3577-3588. S1: 3437 S2: 3397 R1: 3517 R2: 3557.     MCX Zinc Jan: While above 104.75 look for a bounce towards 109 levels.  S1: 105.40 S2: 103.40 R1: 109.40 R2: 111.20.     MCX Lead Jan: While below 100.50 look for a 105.25 levels. Fall below 100.25 to dent our bullish exp. S1: 100.70 S2: 99.20 R1: 104.70 R2: 106.70     MCX Zinc Jan: While above 104.75 look for a bounce towards 109 levels.  S1: 105.40 S2: 103.40 R1: 109.40 R2: 111.20.     MCX Nickel Jan: Ideally, 825-30 to hold for a rally towards 878-80. Direct fall below 825 to drag prices lower.  S1: 841 S2: 836 R1: 856 R2: 862     MCX NaturalGas Feb: Dip to 260/258 to find support for move higher toward 276/282 level. Fall below 256 to negate the bullish view. S1:262 S2:256 R1:273 R2:2

VIEWS FOR THE WEEK STARTING FROM 25TH JANUARY, 2010

SPOT SILVER:-Support is around 16.7$.

A fall and close below 16.7$ can bring about a slide down towards 16.09$-15.7$ at least.

Traders who are holding short positions can keep a stop loss of 17.5$.

 

SPOT GOLD:-

Sell further on fall below 1074$ with high of the day stop loss at the point of breakdown.

Cover short positions for the time being at current price to 1074$ as the opportunity arises.

Resistance will be at 1107$-1118$. A rise above 1118$ can bring about a near term trading pullback.

An attempt to come above the red color trend line will be made before surrendering down again.

TINLME:-A negative divergence has been witnessed on 14 day RSI,

Support will be 17525$.

On fall below 172225 expect a slide further.

Traders can take profit on rise from  current level of 17630-18820$.

 

LEAD LME:-A negative divergence on 14 week RSI is in place. Trend line breakdown has been witnessed.

Expect lower levels of 2106$-1982$ to be tested.

Sell on rise to 2299$-2375$ with a stop loss of 2500$.

 

NICKLE LME:-A negative divergence on RSI has been witnessed.

Overall use rise to 18650-18875 to exit long positions.

Sell on fall below 17975 with high of the day stop loss.

Support is at 17225$. On fall and close below 17225$ can bring about a significant slide.

 

ZINC LME:-A trend line breakdown was seen on the chart along with the RSI existing overbought zone which indicates near term slide or sideways movement.

Sell on fall below 2265$ with high of the day stop loss.

Traders holding short positions can keep a stop loss of 2615$.

Overall use rise to 2414$-2580$ to exit long positions.

 

MCX SILVER TRADING STRATERGY:-Traders by chance still holding short positions can keep a stop loss of 27325.

Sell on rise to 26868-27135 with a  stop loss of 27325.

Cover short positions if any on dip to 26410-26143.

A close below 25935 could bring about a sustain slide.

We could find recovery from the lower range of 26410-26143 range.

A support in the range of 26600-25934 is visisble.

 

MCX GOLD TRADING STRATERGY:-Support will be at 16350.

Traders holding short positions can keep a stop loss at 16550.

Sell further on fall and close below 16350 with high of the day stop loss

 

MCX  VIEWS  ::

 

MCX Gold Feb: A pullback to 16722/16752 or even higher towards 16873 looks likely while above 16374. 
S1: 16407 S2: 16327 R1: 16567 R2: 16647.

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MCX Silver March: Resistance at 27323 followed by 27638 levels now. Ideally, supports are at 26803/26850
to hold for a rally towards the above- mentioned levels.    S1: 26610 S2: 26480 R1: 26870 R2: 27000.

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MCX Copper February: While below 337.50 we can expect a pullback towards 347.70/348.70 levels.
S1: 337 S2: 333 R1: 345 R2: 349.

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MCX Crude Oil Feb: Resistance at 3450 followed by 3475 to cap for a test of crucial support at 3384.
This is our favored view. Rise above 3522 could diminish bearish expectations.
S1: 3405 S2: 3365 R1: 3485 R2: 3525.

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MCX Zinc Jan: Pullbacks to 110.00/111.90 looks likely above 107 now. 
S1: 105.40 S2: 103.50 R1: 109.40 R2: 111.40.

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MCX Lead Jan: Ideally A pullback towards 104.50/106.40 looks likely while above 102. 
S1: 101.20 S2: 99.70 R1: 104.80 R2: 106.80.

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MCX Nickel Jan:Supports at 841 followed by 836 now. Failure to hold support here could dent
bullish expectation for test of 905/915 or even higher. S1: 841 S2: 836 R1: 854 R2: 859

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