MCX & COMEX EXPECTATIONS FOR 14TH JUNE 2010 ::
INTERNATIONAL SPOT GOLD ::
A breakout and close above 1253$ can bring about a big rally further.
Upside can be capped to 1232$-1247$.
Sell further on fall below 1215$.
INTERNATIONAL SPOT SILVER ::
A breakout and close above 18.7$ can bring about a rally subsequently.
Sell further on fall below 17.8$ with high of the day stop loss.
NYMEX LIGHT CRUDE OIL ::
Exit long positions on rise to 74.2-75.2 as the opportunity arises. Sell on rise to 74.2-75.2 with a stop loss of 76.30.
Expect lower range of 72.81$-70.43$ to be tested.
GOLD MCX AUGUST :: TRADING STRATEGY ::
A recovery was seen on Friday. Resistance will be at 18798-18844-18859.
If the resistance is crossed then expect a rise towards 19098.
Cover short positions if any on dip to 18709 or below as the opportunity arises.
Expect further weakness on fall below 18550.
Sell further on fall below 18550 with high of the day stop loss.
Intra-day traders can wait for a rise above 18859 and when it falls below 18859 then sell with high above 18859 as the stop loss.
Volatility between 19198 and 18555 is likely to be seen but a further breakdown below 18550.
SILVER MCX JULY :: TRADING STRATEGY ::
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.
MCX EXPECTATIONS ::
MCX Gold Aug: Dips to 18610-18655 can be bought s/l 18550 target 18855-18885.
S1 18665 S2 18585 R1 18805 R2 18885
MCX Silver July: Supports are at 29135 followed by 28925. Supports expected to hold for a test of 30015.
S1 29010 S2 28830 R1 29350 R2 29530
MCX Copper June: As expected 291 held well and a possible target at 303.95 has also been met. Stronger resistance can be seen at 313-314 levels form where a corrective decline can be seen.
S1 300 S2 296 R1 307 R2 311
MCX CrudeOil June: While 3548 followed by 3573 caps we can expect consolidation in the 3395-3535 range or decline to 3255 level
S1 3445 S2 3405 R1 3515 R2 3555
MCX Zinc June: Supports at 79-80 to hold for a rise towards 83-84 levels
S1 80 S2 79 R1 82 R2 83
MCX Lead June: While 80-81 caps look for a decline towards 77 levels now.
S1 77.75 S2 76.75 R1 80.50 R2 81.50
MCX Nickel June: While 905 hold look for a rise towards 935 or even higher towards 945 levels now.
S1 910 S2 897 R1 930 R2 940
MCX NG June: While 220 holds look for a move to 231 levels and ultimately testing 243-245
S1 221 S2 217 R1 229 R2 231
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