Friday, June 11, 2010
JUST CHECK DAY HIGH IN SPOT GOLD
JUST CHECK DAY HIGH IN SPOT GOLD... AND VIEW GIVEN BY US.. 1229 DAY HIGH... CMP 1220 .. THOSE WHO SOLD BENEFITTED... TRACK US.. ENJOY...
MCX & COMEX EXPECTATIONS FOR 11TH JUNE 2010
MCX & COMEX EXPECTATIONS FOR 11TH JUNE 2010 ::
MCX Gold Aug: As expected a downward correction materialised. Rallies to 18720-18735 should find strong resistance now
for a decline towards 18310-18340 levels .Unexpected rise above 18825-18840 to reinforce bullish expectations.
S1 18530 S2 18450 R1 18670 R2 18750
for a decline towards 18310-18340 levels .Unexpected rise above 18825-18840 to reinforce bullish expectations.
S1 18530 S2 18450 R1 18670 R2 18750
MCX Silver July: As expected dips to 28650-28700 found good support. Any dips to 28805 to find good support for a break
above 29425 targeting 29805. S1 29030 S2 28850 R1 29370 R2 29550
above 29425 targeting 29805. S1 29030 S2 28850 R1 29370 R2 29550
MCX Copper June: Expected support was seen near 291-293 and moved up to 303 level. While 305 caps can expect a decline
to 294-295 for the day . S1 294 S2 290 R1 301 R2 305
to 294-295 for the day . S1 294 S2 290 R1 301 R2 305
MCX CrudeOil June: As expected the break above 3540 took prices higher towards our favored target at 3615. Corrective
dips could be held near 3510-3515 levels for a move towards 3610 or even higher towards 3620.
S1 3510 S2 3470 R1 3580 R2 3620
dips could be held near 3510-3515 levels for a move towards 3610 or even higher towards 3620.
S1 3510 S2 3470 R1 3580 R2 3620
MCX Zinc June: Supports near 79-80 expected to hold for a move higher towards 84-85 levels now .
S1 79.80 S2 78.80 R1 81.60 R2 82.60
S1 79.80 S2 78.80 R1 81.60 R2 82.60
MCX Lead June: Any dip to 76-77 expected to find support for move toward 81 followed by 82.50 .
S1 77.35 S2 76.35 R1 79 R2 80
S1 77.35 S2 76.35 R1 79 R2 80
MCX Nickel June: Consolidation between 873 and 910 could take place before rise higher toward 948 level .
S1 878 S2 866 R1 898 R2 910
S1 878 S2 866 R1 898 R2 910
MCX NG June: As expected we saw move towards 215. Resistances are at 223 now. Only a rise above 228 could hint
at bullish strength. S1 215 S2 211 R1 221 R2 225
at bullish strength. S1 215 S2 211 R1 221 R2 225
MCX GOLD TRADING STRATEGY ::
The negative divergence come into immediate existence as the price movement fails to sustain because MACD was lower than its peak as price made new high. MACD triggered its average for sell again.
We had indicated to sell in the range of 18827-18958. The high registered yesterday was 18844. Traders who managed to sell had the opportunity to benefit as Gold fell to a low of 18555 subsequently.
Sell on rise to 18655-18754 with a stop loss 18844.
Expect lower range of 18465-18176.
MCX SILVER TRADING STRATEGY ::
Cover short positions at current price or on dip to 29110-28800 as the opportunity arises.
Sell on fall below 28753 with high of the day stop loss.
Buy on rise and close above 29570 with low of the day stop loss.
SPOT GOLD ::
Use rise to 1221-1229 to sell with a stop loss of 1234.
A breakout and close above 1253$ can bring about a big rally further.
Upside can be capped to 1229-1248$.
Red Color Trend Line and Blue color ascending trend line to offer support.
The higher bottom of 1196$ can bring about a big crack in the near term in Gold.
Overall volatility in the band of 1252$-1196$ in the immediate near term can be expected
SPOT SILVER ::
A breakout and close above 18.7$ can bring about a rally subsequently.
Cover short positions at 18.14$-17.87$ as the opportunity arises.
Bullish prospects: (Favoured):-Dips to 1219 would be most ideal entry level for a
move towards 1227.
1. FOR REAL TIME CALLS VIA SMS & YAHOO MESSENGER
3. WE PROVIDE SPECIAL SERVICES FOR COMEX
KEEP TRACKING TO KEEP UR WEALTH GROW SAFELY
ENJOY TRADING !!!!
Sell further on fall below 17.8$ with high of the day stop loss.
NYMEX CRUDE ::
Traders can hold long position with a stop loss of 73.7$ and look for rise to 76.6$-79.19$ to exit.
ALERT ::
Chinese Inflation rises in the quickest pace in 19 months. CPI rises 3.1% (Forecast 3%). Tightening measures likely.China to keep high alert on Eurozone crisis. Euro drifts lower from 5 day peak.
ALERT ::
China on holiday from june 14-16th. (dragon boat festival). for both rubber and base metals, margins have been raised from 7% to 10%. trading limits from 5% to 7%
MARKET TALK :: GOLD SPOT ::
Bearish prospects:-
Following yesterday’s plunge from 1233 levels to 1214.65, the bearish momentum may have slowed down However, initial attempts to rise may invite follow through selling interest esp from the 1222 region, but may not strengthen. A direct fall below 1212 would however, trigger further long liquidation, possibly targeting 1205.
Bullish prospects: (Favoured):-Dips to 1219 would be most ideal entry level for a
move towards 1227.
Medium Term Prospects:-
A close above 1254 is required before launching on to
the 1330 view, with intermediate pause likely in the
1275-80 region. Favoured view continues to remain
positive
A close above 1254 is required before launching on to
the 1330 view, with intermediate pause likely in the
1275-80 region. Favoured view continues to remain
positive
LOOK FORWARD TO JOIN OUR PAID SERVICE ::
1. FOR REAL TIME CALLS VIA SMS & YAHOO MESSENGER
2. SUBSCRIBE TO OUR NEWSLETTER FOR JUST RS. 2200 /-, USD 200$ PER MONTH
3. WE PROVIDE SPECIAL SERVICES FOR COMEX
KEEP TRACKING TO KEEP UR WEALTH GROW SAFELY
ENJOY TRADING !!!!
Thursday, June 10, 2010
MCX & COMEX EXPECTATIONS FOR 10TH JUNE 2010
MCX & COMEX EXPECTATIONS FOR 10TH JUNE 2010 ::
MCX Gold Aug: As expected saw target at 18980 being met. Corrective decline from there could see support in 18660-18675 zone.
Daily close below 18660 could drag price even lower.S1 18720 S2 18640 R1 18860 R2 18940
Daily close below 18660 could drag price even lower.S1 18720 S2 18640 R1 18860 R2 18940
MCX Silver July: Support at 29000 could hold for rise toward 29645. This is favored view. Unexpected fall below 28890 to dent bullish
expectation. S1 29060 S2 28880 R1 29400 R2 29560
expectation. S1 29060 S2 28880 R1 29400 R2 29560
MCX Copper June: Support seen at 296-297, failing which another round of consolidation or test of recent low look likely. However,
if support hold in 294-296 zone, expect rally to continue higher toward 313-315 level. S1 292.50 S2 288.50 R1 299.50 R2 303.50
if support hold in 294-296 zone, expect rally to continue higher toward 313-315 level. S1 292.50 S2 288.50 R1 299.50 R2 303.50
MCX Zinc June: Corrective dip expected toward 80.75 followed by 79.50. Ideally, support to cushion dip for push higher toward 85 level.
Unexpected close below support at 79.50 could dent bullish expectation. S1 81 S2 80 R1 83 R2 84
Unexpected close below support at 79.50 could dent bullish expectation. S1 81 S2 80 R1 83 R2 84
MCX Lead June: Support at 76.70 followed by 75.00. Failure to hold support to drag price lower again below recent low.S1 77 S2 76 R1 79 R2 80
MCX Nickel June: Dip to 882 followed by 875 to hold for rally toward 930-935. This is favored view. Fall below 860 to cause doubt on view
S1 887 S2 875 R1 909 R2 919
S1 887 S2 875 R1 909 R2 919
MCX NG June: As expected saw a fall towards 219. Further dip to 215 looks likely while 227 caps AND MOVE HIGHER. S1 220 S2 218 R1 236 R2 242
MCX SILVER TRADERS STRATEGY ::
Exit long positions on the rise to 29169-29333 as the opportunity arises.
Re-enter long on rise and close above 29600.
Traders can take chances to sell on rise to 29169-29333 with a stop loss of 29600 or wait for a breakout to trade long
MCX GOLD TRADING STRATEGY ::
Exit long positions on rise to 18827-18958 as the opportunity arises.
Sell on rise to 18827-18958 with a stop loss of 19000.
Buy above 19000 with low of the day stop loss.
A sideways volatility under 19200 is likely to be seen.
Expect lower range of 18656-18354 can be tested.
The level of 18260 holds the key from long term angle. The wide volatility can be 19000-18200.
SPOT GOLD ::
Fresh long positions can be undertaken on rise and close above 1252 with low of the day stop loss.
Use rise to 1230-1239 to exit long positions and take profit.
SPOT SILVER ::
A breakout and close above 18.7$ can bring about a rally subsequently.
Resistance will be at 18.16$-18.25$.
1. FOR REAL TIME CALLS VIA SMS & YAHOO MESSENGER
3. WE PROVIDE SPECIAL SERVICES FOR COMEX
KEEP TRACKING TO KEEP UR WEALTH GROW SAFELY
ENJOY TRADING !!!!
Lower range can be TESTED 17.98$-17.71$
COPPER LME ::
A trend line breakdown can be seen. A 3 Buddha Pattern is visible along with the breakdown.
Expect the slide towards the projection shown on the chart towards 5381$.
Sell on fall below 6040$.
Resistance will be at 6480$-6658$.
Sell on rise to the resistance with a stop loss of 7039$. Alternatively, try to sell on rise as near the stop loss to minimize risk.
The 14 week RSI as shown is the chart is falling and could move towards the 30 mark from current level of 37.94
ZINC LME ::
The low channel line has been tested.
A recovery candle has been witnessed this week.
If the low registered of 1570$ is not violated and close as higher as possible from current level of 1765$ then we could see that the low of 1570$ as the important near term bottom.
Expect a rise towards 1935$ at least in the immediate near term.
Traders can take chance to go long with a stop loss of 1570$.
Sell on fall below 1570$. If a fall below 1570$ is witnessed then Zinc can move down to test the level of 1452$, 1325$ and 1064$.
The 61.8% retracement has been tested and recovery has been witnessed in the current weak
ALLUMINUM LME ::
The 50% of the rise from 1270$ to 2481$ has been tested which was at 1880$. The low registered in the current week is 1825$ and a recovery has been witnessed to close at 1937$.
Support cluster is at 1920$.
If the support of 1920$ is violated then a sustained fall could be seen.
But a rise and minor pull back from current level can be expected towards 2154$-2232$.
Resistance will be at 2070$.
A rise and close above 2070$ will confirm a rise towards 2154$-2232$.
Immediate corrective dip from current price or below can be used for buying for the pull back with a stop loss of 1920$.
NICKLE LME ::
A trend line breakdown can be seen.
But Nickel has cluster of support at lower levels of retracements at 18475$ and 16341$.
The earlier higher bottoms are placed at 16875$ and 15100$.
Minor recovery seen in the current week from the low and if closes above the trend line in this week or next week then a pullback rise towards 22463-23688 is possible.
The trend line value is placed at 19320$ for this week and for next week 19490$. Nickel has to maintain above the trend line in order to prove a false trend line breakdown. Otherwise, we could find support of 16875$ and 15100$ will be tested in due course of time.
LEAD LME ::
The 61.8% retracement of the rise from 850$ to 2685$ has been tested this week.
A recovery seen this week from the low and further weakness can be seen only below 1530$ from here on.
Resistance will be at 1860$-1870$.
If the same resistance gets crossed in days to come then a pull back to 2116$-2249$ is possible.
A fall and close below 1530$ can take the price heavily down towards 850$. Therefore, strong recovery and rise from current levels is a must.
TIN LME ::
TIN holding the support of 14775$ and a fall below the same can show a slide.
TIN seems to be unaffected by the other metal slide.
Resistance will be at 17225$-18200$. If the resistance is not crossed at the earliest then it is a matter of time before a slide is witnessed
MARKET TALK (SPOT GOLD) ::
Bearish prospects:
As long as 1233 holds, the trend may lean towards
1212 with yesterday’s low of 1221.75 attempting to
slow down the proceedings.
As long as 1233 holds, the trend may lean towards
1212 with yesterday’s low of 1221.75 attempting to
slow down the proceedings.
Bullish prospects:
A direct rise above 1233 would thwart some bearish
presumptions and call for 1237 and 1251.2, the life
time high.
Medium Term Prospects:
A close above 1254 is required before launching on to
the 1330 view, with intermediate pause likely in the
1275-80 region.
A direct rise above 1233 would thwart some bearish
presumptions and call for 1237 and 1251.2, the life
time high.
Medium Term Prospects:
A close above 1254 is required before launching on to
the 1330 view, with intermediate pause likely in the
1275-80 region.
LOOK FORWARD TO JOIN OUR PAID SERVICE ::
1. FOR REAL TIME CALLS VIA SMS & YAHOO MESSENGER
2. SUBSCRIBE TO OUR NEWSLETTER FOR JUST RS. 2200 /-, USD 200$ PER MONTH
3. WE PROVIDE SPECIAL SERVICES FOR COMEX
KEEP TRACKING TO KEEP UR WEALTH GROW SAFELY
ENJOY TRADING !!!!
Wednesday, June 9, 2010
CHECK MCX GOLD DAY LOW AND OUR VIEW ON BLOG
CHECK MCX GOLD DAY LOW AND OUR VIEW GIVEN ON BLOG... WE TRULY SAY... WE KNOW TOP WE KNOW BOTTOM.... JOIN OUR PAID SERVICE FOR DAILY REPORTS AND GET TIMELY REPORTS.. BCOZ TO EARN U HAVE TO ACT PROMPTLY.. BEFORE OTHERS DO... TARGET GIVEN IN OUR BLOG WAS.. 18810-25 AND LOW 18813 ::: JUST CALL ON +919820555212 FOR SUBSCRIPTION
MCX & COMEX EXPECTATIONS FOR 9TH JUNE 2010
MCX & COMEX EXPECTATIONS FOR 9TH JUNE 2010 ::
MCX Gold Aug: As expected saw target at 19180 met. Corrective decline from there could see supports in the 18810-18825 zone. Daily close below 18810 could drag prices even lower.
S1 18910 S2 18840 R1 19060 R2 19140
MCX Silver July: Supports at 28990 followed by 28770. Above supports expected to hold for break above 29835.
S1 29250 S2 29070 R1 29590 R2 29770
S1 29250 S2 29070 R1 29590 R2 29770
MCX Copper June: Supports at 285 followed by 282. Favored view expect support to hold for rise toward 299. Unexpected fall below 281 to dent bullish view.
S1 284 S2 280 R1 291 R2 295
MCX Crude Oil June: Resistance at 3425 followed by 3460. Favor resistances to cap for decline to 3190 or even lower.
S1 3324 S2 3284 R1 3405 R2 3444
S1 3324 S2 3284 R1 3405 R2 3444
MCX Zinc June: Support at 78.50 followed by 77. Ideally supports could cushion dip for test of 83-84 level.
S1 78.80 S2 78.20 R1 81.30 R2 82.30
S1 78.80 S2 78.20 R1 81.30 R2 82.30
MCX Lead June: Support at 74.35 followed by 73.40. Favored view expect support to hold for test of 78-79 level in coming sessions .
S1 75 S2 74 R1 76.80 R2 77.80
MCX Nickel June: Supports at 855 followed by 845 should hold now for a move towards 905 or even higher.
S1 850 S2 847 R1 879 R2 891
S1 850 S2 847 R1 879 R2 891
MCX NG June: As expected a decline to 223 levels materialised. Further fall to 215 levels look likely while 231 caps.
S1 223 S2 219 R1 229 R2 233
S1 223 S2 219 R1 229 R2 233
SPOT GOLD :;
Traders can take profit on rise to 1239-1246-1264$ as the opportunity arises.
Expect minor correction or sideways movement in the immediate near term.
Fresh long positions can be undertaken on rise and close above 1252 with low of the day stop loss.
SPOT SILVER ::
Use rise to 18.43$-18.87$ to exit long if any and keep a stop loss of 18$ to hold long positions.
Sell on rise to 18.43$ or above with a stop loss of18.70$.
NYMEX NATURAL GAS ::
Hold long positions with a stop loss of 4.50$ and look for rise to 4.85$-5$ to book profits.
1. FOR REAL TIME CALLS VIA SMS & YAHOO MESSENGER
3. WE PROVIDE SPECIAL SERVICES FOR COMEX
KEEP TRACKING TO KEEP UR WEALTH GROW SAFELY
ENJOY TRADING !!!!
Buy on rise and close above 5$ with low of the day stop loss
NYMEX CRUDE ::
Hold short with a stop loss of 75.8$
Sell on rise to 72.8$-74.6$ with a stop loss of 75.8$
Sell further on fall below 69.5$ with high of the day stop loss
MCX GOLD TRADING STRATERGY ::
Hold long positions if any with a stop loss of 18860
Use rise to 19030-19153 to book profits.
Minor correction to sideways movement could be witnessed
MCX SILVER TRADING STRTERGY ::
Traders by chance holding long positions can keep a stop loss at 29000.
Use rise to 29619-30134 to book profits and exit long positions.
A breakout and close above 29755 can bring about a breakout to test back the recent peak of 30163.
MARKET TALK (GOLD SPOT) ::
Prices have withdrawn after creating a new life time
peak of 1251.2. An attempt to break the same is likely
to be attempted today. 1254 is a technical point of
turn which has to be seen off before launching on to
the 1330 view, with intermediate pause likely in the
1275-80 region.
On the downside, it would require a break below
1230/23 band before outright bearishness is kindled.
Until then hopes of rallies would be alive
peak of 1251.2. An attempt to break the same is likely
to be attempted today. 1254 is a technical point of
turn which has to be seen off before launching on to
the 1330 view, with intermediate pause likely in the
1275-80 region.
On the downside, it would require a break below
1230/23 band before outright bearishness is kindled.
Until then hopes of rallies would be alive
NEWS U CAN USE ::
1)Indian US, British, Swiss and Euro denominated Gold hit fresh life time highs yesterday, and retract.
2) Holdings in SPDR, the world’s largest gold backed ETF rose to a record high of 1298.530 tonnes after remaining relatively steady in the last few days.
3)Oil edges up and floats above $72 after API data showed a larger than expected decline in crude stocks. EIA US Weekly Inventory report due today.
4) Asian Equities recover some of yesterday’s losses. Nikkei down 1.2%
LOOK FORWARD TO JOIN OUR PAID SERVICE ::
1. FOR REAL TIME CALLS VIA SMS & YAHOO MESSENGER
2. SUBSCRIBE TO OUR NEWSLETTER FOR JUST RS. 2200 /-, USD 200$ PER MONTH
3. WE PROVIDE SPECIAL SERVICES FOR COMEX
KEEP TRACKING TO KEEP UR WEALTH GROW SAFELY
ENJOY TRADING !!!!
Tuesday, June 8, 2010
CHECK GOLD DAY HIGH
CHECK GOLD DAY HIGH AND OUR VIEW GIVEN ON BLOG... WE TRULY SAY... WE KNOW TOP WE KNOW BOTTOM.... JOIN OUR PAID SERVICE FOR DAILY REPORTS AND GET TIMELY REPORTS.. BCOZ TO EARN U HAVE TO ACT PROMPTLY.. BEFORE OTHERS DO... TARGT GIVEN IN OUR BLOG WAS.. 19175 AND HIGH 19198
MCX & COMEX EXPECTATIONS FOR 8TH JUNE 2010
MCX & COMEX EXPECTATIONS FOR 8TH JUNE 2010 :: MCX Gold Aug: As expected a break above 18745-18795 opened the way for higher levels. Immediate support is at 18870 followed by 18760-18795 levels now. Ideally a test of 19175 or even higher to 19480 can be expected now. S1 18714 S2 18635 R1 18974R2 19055 MCX Silver July: Dips to 28620 followed by 28350 to hold for a break above 29665. Unexpected decline below 27945 could dent our bullish expectations. S1 29010 S2 28860 R1 29355 R2 29500 MCX Copper June: While above 284, look for a pullback towards 292-294 levels for the day. S1 285 S2 281 R1 297 R2 301 MCX Crude Oil June: As expected 3450-3455 capped upside attempts for a fall lower. While this level caps we expect the decline to continue towards 3280 3280 or even lower. S1 3324 S2 3284 R1 3405 R2 3444 MCX Zinc June: Dips to 75 to be bought s/l 73.50 target 78.50. S1 75.20 S2 73.20 R1 79.20 R2 81.20 MCX Lead June: Further dips to 71-72 cannot be ruled out. A strong pullback is expected from here towards 75 or even higher. S1 73 S2 71 R1 75 R2 77 MCX Nickel June: Dips to 855 to be bought s/l 835 target 895. S1 837 S2 817 R1 877 R2 897 MCX NG June: While 237-342 caps look for a decline to 220 levels now. S1 224 S2 218 R1 236 R2 242 |
MCX GOLD TRADING STRATERGY ::
MACD triggers a buy signal on the trend line breakout. Failure of the signal will prove to be a negative divergence once again.
The buy level was just missed yesterday as the low made was 18610 against the buy indicated at 18591.
Traders by chance long can keep a stop loss of 18600 to hold the same.
Expect higher range of 19104-19484 to be tested.
Intra-day lower range of 18857-18724 can be tested first before making further attempt to move higher.
MCX SILVER TRADING STATERGY ::
The sell indicated stop loss got triggered and strong rise was seen.
Cover short positions for the time being on dip to 28814 or below as the opportunity arises.
Resistance of 29493-29755 can be tested.
Support will be at 28212-28031.
Only a fall and close below 28000 can show a sharper slide from here on. Otherwise, we can find price showing volatility between 30163-28000.
Weaker opening to 28814-28408 can be used for buying with a stop loss of 28000.
After buying use rise to 29597 or above to take profit.
If higher range of 29597 is attained first and then the lower range of 28814-28408, in that case avoid buying.
Weaker opening in the range of 28814-28408 can be used for buying.
Broadly, use higher range to exit long
SPOT GOLD ::
Traders can hold long positions with a stop loss of 1210$.
Look for rise to 1252$-1286$ to take profit.
SPOT SILVER ::
Cover short positions on dip to 17.80$ or below as the opportunity arises.
A rise towards 18.45$-19.44$ is possible.
The last lower top was at 18.66$.
Traders can take chance to sell around 18.6$ with a stop loss of 18.70$.
Support will be at 17.20$-17$.
Major weakness can be seen only below 17$. Otherwise, we will see volatility between 17$-21$ broadly
NYMEX NATURAL GAS ::
Hold long positions with a stop loss of 4.50$ and look for rise to 5.02$-5.30$ to book profits
NYMEX CRUDE ::
Hold short with a stop loss of 75.8$
Sell further on fall below 69.5$ with high of the day stop loss.
MARKET TALK :: (GOLD SPOT)
The sharp swing from 1210 yesterday is indicative of
the buyers getting more and more impatient; and
chasing higher and higher prices. The challenge of
1248.95 now looks to be a formality today, but 1254 is
a technical point of turn which has to be seen off
before launching on to the 1330 view, with
intermediate pause likely in the 1275-80 region
the buyers getting more and more impatient; and
chasing higher and higher prices. The challenge of
1248.95 now looks to be a formality today, but 1254 is
a technical point of turn which has to be seen off
before launching on to the 1330 view, with
intermediate pause likely in the 1275-80 region
LOOK FORWARD TO JOIN OUR PAID SERVICE ::
1. FOR REAL TIME CALLS VIA SMS & YAHOO MESSENGER
2. SUBSCRIBE TO OUR NEWSLETTER FOR JUST RS. 2200 /-, USD 200$ PER MONTH
3. WE PROVIDE SPECIAL SERVICES FOR COMEX
KEEP TRACKING TO KEEP UR WEALTH GROW SAFELY
ENJOY TRADING !!!!
Monday, June 7, 2010
MCX & COMEX EXPECTATIONS FOR 7TH JUNE 2010
MCX Gold Aug: Any corrective moves to find support near 18702 or even lower to 18594 and break above 18950-18980 targeting 19365 or even higher.
S1: 18714 S2: 18635 R1: 18874 R2: 18955
S1: 18714 S2: 18635 R1: 18874 R2: 18955
MCX Silver July: Resistance at 29145 followed by 29307 to cap upside attempt for decline towards 27835. From here very strong pullback expetced higher.
S1: 28292 s2: 28142 R1: 28592 R2: 28742
S1: 28292 s2: 28142 R1: 28592 R2: 28742
MCX Copper June: While 289/291 caps we expect decline to continue lower towards 265 level. Strong correction upward can be expected from there.
S1: 289 S2: 285 R1: 297 R2: 301
S1: 289 S2: 285 R1: 297 R2: 301
MCX CrudeOil June: Pullback to 3415 to find good resistance. While resistance cap we expect further decline to 3105 or even lower to 3046. S1: 3324 S2: 3284 R1: 3405 R2: 3444
MCX Zinc June: While 78-79 caps, look for fall towards 72 level. Extreme oversold conditions cautions of corrective pullback in the offing.
S1: 74.20 S2: 73.20 R1: 79.20 R2: 81.20
MCX Lead June: Resistance at 75/76 level. Rise above 77 to confirm corrective rise higher due to extreme oversold condition.
S1: 72 S2: 71 R1: 75 R2: 77
MCX Nickel June: Due to oversold condition we can see pullback higher toward 875 or even higher toward 895.
S1: 825 S2: 817 R1: 877 R2: 897
S1: 825 S2: 817 R1: 877 R2: 897
MCX Natural Gas June: While 234-235 cap expect correction to end near 218/220 level.
S1: 224 S2: 218 R1: 236 R2: 242
INTERNATIONAL SPOT GOLD ::
Gold has once again take support of the blue color line as shown.
Resistance will be at 1226$-1249$ which is likely to get tested again.
Corrective dip to 1212$ can be used to cover short positions.
Buy on decline to 1212$-1203$ with a stop loss of 1196$.
NYMEX CRUDE ::
Sell on fall below 1196$ with high of the day stop loss.
INTERNATIONAL SPOT SILVER ::
Sell on rise to 17.54$-17.81 with a stop loss of 18$.
Expect lower range of 17.10$-16.39$ to be tested
MCX GOLD TRADING STRATEGY ::
A sharp recovery in Gold from the support gap of 18287-18247 by forming a low of 18260 has been witnessed. It has now bounced to test back the recent peak of 18850. The same will be crossed. Expect Gold to hit the range of 18923-19423 before witnessing some profit booking pressure.
Heavy short covering on the back of support buying at lower levels and weak international clue in equity market brought a sharp rise.
Traders short would be in rush to cover the same.
Corrective dip to 18591 or below could be used to cover short position. Rise to 18932-19423 to take profit on the long side.
The negative divergence on MACD continues which put the question mark as to how long on the up the price movement would survive. A strong trended movement can be seen and MACD is still above the zero line which can enable price to move higher in spite of the negative divergence. Even if MACD slides price could move higher if MACD remains above zero line or speed of MACD falling towards zero is very slow.
MCX SILVER TRADING STRATEGY ::
Sell on fall below 28130 with high of the day stop loss. Expect lower range of 28034-27475 to be tested.
Resistance will be at 28593-28760.
Sell on rise to 72.55-74.38$ with a stop loss of 75.8$.
Expect lower range of 69.49$-65$ to be tested
NYMEX NATURAL GAS ::
Hold long positions with a stop loss of 4.50$ and look for rise to 4.98$-5.35$ to book profits
Subscribe to:
Posts (Atom)