VIEWS FOR 19TH JUNE 2009

MCX Gold August: Rallies to 14615/14677 to find resistance for a move lower towards 14365 levels now. Rise above 14724 is needed to raise doubts on this bearish view. S1: 14420 S2: 14300 R1: 14640 R2: 14750

MCX Silver July : Dips to 22616/22536 to find support for a rise towards 23529 levels. Fall below 22624 to negate this bullish view.S1: 22550 S2: 22375 R1: 22950 R2: 23185

MCX Copper June: Important supports at 239.4/236.8 levels now. Favored view expects dips to find support at these levels for a rise upto resistance levels at 248.50/250.5. Fall below 235.7 to negate this bullish view. S1: 237 S2: 233 R1: 244 R2: 247

MCX Crude Oil July : Dips to 3448/3436 to find support for a move above 3542 targeting 3638 levels now. Fall below 3347 to negate this bullish view. S1: 3443 S2: 3400 R1: 3530 R2: 3567

MCX Zinc June: While above supports at 73.20/73.55 levels we can expect prices to rally towards 76.5/77.0 levels. Breach of 72.55 levels to negate this bullish view. S1: 73.30 S2: 72.10 R1: 75.30 R2: 76.45

MCX Lead June : While above supports at 78.00/77.55 levels we can expect prices to rally towards 82.5/83.0 levels. Breach of 76.90 levels to negate this bullish view. S1: 78.60 S2: 77.50 R1: 80.70 R2: 81.60

MCX Nickel June: While above supports at 705/712 levels we can expect prices to rally towards 745/ 755 levels. Breach of 692 levels to negate this bullish view. S1:710 S2:695 R1: 735 R2: 750

MCX Natural Gas July : Dips to 205/203 likely to find support for a move higher towards 218/225 levels now. Only a fall below 194 to negate this bullish view now. S1: 208 S2: 203 R1: 217 R2: 224

TRADING STRATEGY ::

GOLD MCX AUGUST ::
The trend has turned up but nature of movement is sideways.
Since last few sessions, a sideways trading pattern is being witnessed and it is most avoidable situations in terms of trading perspective.
Lack of clear direction is preventing us to give any conclusion at this stage of the trade.
On breakout above Rs. 14720 or breakdown below Rs. 14380 will decide the direction.
Therefore it is advisable to stay away for some time and wait for either side breakout.
As far as traders having positions can look to book profits if any on rise to Rs. 14563 – 14611 as the opportunity arises.
As the trend is up, intra-day traders can wait for a fall below Rs. 14486 and when it rises above Rs. 14486, then buy with whatever low registered below Rs. 14486 as a stop loss. Subsequently, book profits at Rs. 14563 – Rs. 14611 range or above.

SILVER MCX JULY ::

The trend is down but nature of movement is sideways.
Ideally, cover short positions at market price and on dips to Rs. 22597 – 22480 as the opportunity arises or hold short positions with revising stop loss to Rs. 22870 vice-versa.
Sell only on fall and close below Rs. 22350.
As the trend is down, intra-day traders can wait for a rise above Rs. 22850 and when it fall below Rs. 22850, then sell with whatever high registered above Rs. 22850 as a stop loss. Subsequently, cover short at Rs. 22733 – Rs. 22597 range or below

INTERNATIONAL SPOT GOLD ::

The trend is down.
Sell on rise to $935 – 940 with stop loss of $943.
Expect a fall towards $927 – 922.

INTERNATIONAL SPOT SILVER :;

The trend is down.
Support will be at 14.08 – 13.93$.
Sell only on fall below $13.90.

ENJOY TRADING !!!!!!!!!!!!!!!!!

VIEWS FOR 18TH JUNE 2009

MCX Gold August: Resistance is at the 14643/14673 to cap upside attempts ideally for a fall from there. Failure to do so could lead prices higher towards 14829 levels next. S1: 14400 S2: 14290 R1: 14600 R2: 14710

MCX Silver July : Resistances are at 23424/23519. Ideally this level to cap upside attempts for a fall again. Unexpected rise above 23631 to hint at bullishness again. S1: 22550 S2: 22375 R1: 22950 R2: 23185

MCX Copper June: Important resistance is at 247.10/248.15 levels now. Favored views expects a cap here for a decline again.Unexpected rise above 254/254.50 could cause doubts on our bearish view. S1: 236 S2: 232 R1: 244 R2: 247

MCX Crude Oil July : Rise above 3450 shows bullish tendencies now. Trendline resistance is at 3543/3545 levels. Break here could be a bullish sign for 3568/3662.Fall below 3405 to negate out bullish expectations. S1: 3380 S2: 3340 R1: 3465 R2: 3510

MCX Zinc June: While above supports at 73.20/73.55 levels we can expect prices to rally towards 76.5/77.0 levels. Breach of 72.55 levels to negate this bullish view. S1: 72.90 S2: 71.80 R1: 74.55 R2: 75.80

MCX Lead June : While above supports at 78.00/77.55 levels we can expect prices to rally towards 82.5/83.0 levels.Breach of 76.90 levels to negate this bullish view. S1: 77.50 S2: 76.30 R1: 79.70 R2: 80.60

MCX Nickel June: While above supports at 695/702 levels we can expect prices to rally towards 725/735 levels.Breach of 692 levels to negate this bullish view. S1:700 S2:685 R1: 725 R2: 740

MCX Natural Gas July : Dips to 205/203 likely to find support for a move higher towards 218/225 levelsnow. Only a fall below 194 to negate this bullish view now. S1: 208 S2: 203 R1: 217 R2: 224

TRADING STRATEGY ::
MCX GOLD AUGUST ::
Cover short positions on dip to 14457-14450.
Sell on fall below 14440 with high of the day stop loss.
High range of 14557-14603 could be tested. How is sustains at higher range is to be seen.
A near term rise is possible if the close is above 14557 with a positive candle.
It can try to meet the falling trend line from the highs.

SILVER MCX JULY ::

Traders holding short positions can cover at current price to 22492-22401 as the opportunity arises.
Sell again below 22400.
Intra-day traders can wait for a rise above 22881 and when it falls below 22881 then sell with high above 22881 as the stop loss to cover at 22732-22641 range as the opportunity arises.

INTERNATIONAL SPOT GOLD ::
The 50% retracement level is held well for last 3 trading days.
The 50% level is placed at 927$ and the low in last 3 trading days has been 927$.
Support is around 927$-925$.
On fall below 925$, expect a slide towards 911$ at least.
On the immediate front, we could find gold testing back the broken trend line which is the range of 943$-946$.
The trend line could get tested. Further, how is sustains at the trend line needs to be seen.

INTERNATIONAL SPOT SILVER ::

After the trend line breakdown, in a single day Silver tested the 50% level.
It has been hovering around the 50% retracement level for last 3 trading days.
The 50% level was placed at 14.07$.
Yesterday, silver recovered from the low of 13.93$ and closed at 14.32$.
It is looks that we could find a minor pullback beginning if the low of 13.93$ is not violated from here on immediately.
Expect retracement up towards 14.46$ and 14.77$ for immediate near term.
In case if 13.93$ is violated then a slide down to 13.61$ cannot be ruled out.
Ultimately, 13.60$ needs to be held. A fall and close below 13.60$ can take Silver crashing down towards the low of 12$-11.80$.
On the immediate front, we have a possibility of a rise towards 14.46$-14.77$ with the low of 13.93$ as the immediate support.

NYMEX LIGHT CRUDE OIL ::

The channel got violated but the close is back in the channel.
Support range is at 70.62$-69$.
A fall and close below 69$ will show a near term correction of the last rise from 45.44$ to recent high of 73.23$.
On the immediate front traders holding long positions can still maintain a stop loss of 69$ and look for rise from current price to 74$ to take profit.
Re-enter long on rise above 74$.
The upside after breakout above 74$ is small now. As we can expect a range of 76$-79$.

VIEWS FOR 17TH JUNE 2009

MCX Gold August: Prices could consolidate in a range of 14342 and 14543. However favored view is break below 14342 will be a bearish sign and prices could test 14156/14110 levels.
S1: 14350 S2: 14240 R1: 14560 R2: 14650

MCX Silver July : Rallies to 22680/22745 to find resistance for a fall lower towards 21995 / 21915; break above 22983 will negate this bearish view.However direct fall below 22361 could see prices testing 21915 / 21995.
S1: 22350 S2: 22175 R1: 22750 R2: 22985

MCX Copper June: Corrective rallies to 241.7/242.75 to find resistance for a fall lower towards 232.2/230.0; break above 246 will negate this bearish view. S1: 234 S2: 230 R1: 243 R2: 247

MCX Crude Oil July : Rallies to 3432/3437 to find resistance for a fall lower towards 3335 followed by 3307; break above 3470 will negate this bullish view.S1: 3380 S2: 3340 R1: 3465 R2: 3510

MCX Zinc June: While above supports at 72.00 / 71.55 levels we can expect prices to rally towards 75.5/76.0 levels. Breach of 71.55 levels to negate this bullish view. S1: 72.90 S2: 71.80 R1: 74.55 R2: 75.80

MCX Lead June : While above supports at 76.00 / 75.55 levels we can expect prices to rally towards 81.5 /82.0 levels. Breach of 75.55 levels to negate this bullish view. S1: 77.50 S2: 76.30 R1: 79.70 R2: 80.60

MCX Nickel June: While above supports at 685/ 682 levels we can expect prices to rally towards 725 / 735 levels. Breach of 680 levels to negate this bullish view. S1:690 S2:675 R1: 725 R2: 740

MCX Natural Gas July : Dips to 203 /200 likely to find support for a move higher towards 218 - 225 levels now. Only a fall below 192 to negate this bullish view now. S1: 203 S2: 196 R1: 212 R2: 220

TRADING STRATEGY ::
GOLD MCX AUGUST ::

Traders short can keep a stop loss of 14500 to hold short positions. Cover short at 14398-14380 range as the opportunity arises. Sell again on fall and close below 14380 with high of the day stop loss.

SILVER MCX JULY ::

Intra-day traders can wait for a rise above 22781 and when it falls below 22781 then sell with high above 22781 as the stop loss.
Sell further on fall and close below 22450.
Expect lower range of 22414-22258 to get tested.
Traders who are already short can maintain a stop loss of 22837 to hold short positions.

INTERNATIONAL GOLD SPOT ::

GOLD (spot): Last 935
Yesterday’s bargain hunting stalled at 939 exactly as anticipated, and in
doing so prices remain within the bearish channel retaining the 915 view.
However a third day’s close above 15th low of 925.8, is suggestive of
bargain hunting gaining strength. Morning’s swings are expected to take
support at 931 and remain positive attempting another go at 939 or even
943 for a turn lower. Only a close above 943 should entirely alter the
general bearish view.
.
Alternate Scenario:
A break of 931 early in the day, would render the bullish structure
impotent calling for 915, with intermediate pauses expected at 926-918.


PIVOTS
Supports
931
926
918/5
TURNAROUND LEVELS: 931 –
939-943-915
Resistances
939/43
952/5
960/ 6


Nymex Crude(Jul): Last 70.47

A break of 72 failed to sustain the uppish momentum
which got stalled just shy of the recent peak of 73.12, only
above which an upward swing would gain momentum
towards 75-77. On the other hand, 69.5 is likely to hold
most of the day’s downswings as US Weekly inventory
data is forecast to show a decline in crude stocks. A push
below the same is likely to call for 67

ENJOY TRADING !!!!!

VIEW FOR 16TH JUNE 2009

MCX Gold August: A pullback to resistance levels at 14530-14561 or even higher towards 14670 / 14701 levels can be seen as long as 14328 levels is not breached on the downside. S1: 14280 S2: 14160 R1: 14540 R2: 14630

MCX Silver July : A pullback to resistance levels at 23100-23483 or even higher can be seen as long as 22380 levels are not breached on the downside. S1: 22350 S2: 22175 R1: 22750 R2: 22985

MCX Copper June: Pullback to resistance levels at 244.0 followed by 248 expected. Favored view expects these resistance levels to cap rallies for a fall to 236 levels. S1: 238 S2: 234 R1: 245 R2: 248

MCX CrudeOil July:Resistance at 3423/3452 could cap rally for fall toward 3336. Rise above 3472 to negate bearish view. S1: 3360 S2: 3320 R1: 3445 R2: 3480

MCX Zinc June: Dips to 73.75/73.50 likely to find support for a move higher towards 76.0 / 77.0 levels now. Only a fall below 73.0 to negate this bullish view. S1: 73.45 S2: 72.60 R1: 75.55 R2: 77.00

MCX Lead June : Rallies to 84.85/85.15 to find resistance for a move lower towards 82.30/ 81.80 levels . A rise above 86.40 to negate this bearish view.S1: 82.50 S2: 81.00 R1: 84.70 R2: 85.60

MCX Nickel June: Rallies to 743 /746 to find resistance for a move lower towards 703 /690 levels .A rise above 751 to negate this bearish view. S1:725 S2:710 R1: 750 R2: 768

MCX Natural Gas July : Dips to 192.00 /188.0 likely to find support for a move higher towards 208 levels now. Only a fall below 184 to negate this bullish view now. S1: 193 S2: 188 R1: 202 R2: 206

TRADING STARTEGY ::
GOLD MCX AUGUST ::
Sell on rise to 14428-14475 with a stop loss of 14500.
Expect lower range of 14356-14309.

SILVER MCX JULY ::
Sell on rise to 22758-23066 with a stop loss of 23329.
Lower range of 22217-21909 range could be tested.
Yesterday movement was a big black candle therefore we could find price reacting up towards CP-22758 on intra-day basis before making ways down again later.

INTERNATIONAL SPOT GOLD ::

test of 915 now looks inevitable, but presently an upswing is in progress targetting 935-939 initially, for a likely turn lower, unless we see avoluminous break above 943
Alternate Scenario:
A break of 927 should signal resumption of broad downward trend targetting 915

ENJOY TRADING !!!!!

VIEWS FOR THE WEEK FROM 15TH JUNE 2009

MCX Gold August:Resistances are at 14578/14592 followed by 14669/14684 now. Favored view expects resistances to cap for a decline towards 14253/14269 levels. Unexpected rise above 14839 to hint at resumption of bullishness. S1: 14380 S2: 14260 R1: 14600 R2: 14730

MCX Silver July : Resistances are at 23417 followed by 23668. Ideally, resistances to cap for a sharp decline towards 21913 levels. This is our favored view. Unexpected rise above 24185 to cause doubts on our bearish view. S1: 23000 S2: 22750 R1: 23510 R2: 23785

MCX Copper June: Resistances are at 251.5 followed by 254.6 now. Resistances to cap for a decline towards 234.5/235.6 levels being a trendline support point .Move above 256.7/257.8 to hint at resumption of bullish trend again. S1: 246 S2: 242 R1: 255 R2: 259

MCX Crude Oil July : Favored view expects a test of 3320 as long as 3504 caps upside attempts to cross higher.Resistances are at 3481 followed by 3505/3510. S1: 3430 S2: 3280 R1: 3515 R2: 3550

MCX Zinc June: Rallies to 79.30/79.50 to find resistance for a move lower towards 76.30/75.80 levels . A rise above 80.95 to negate this bearish view.S1: 78.00 S2: 77.15 R1: 80.00 R2: 81.40

MCX Lead June : Rallies to 84.85/85.15 to find resistance for a move lower towards 82.30/81.80 levels . A rise above 86.40 to negate this bearish view. S1: 82.50 S2: 81.00 R1: 84.70 R2: 85.60

MCX Nickel June: Rallies to 743/746 to find resistance for a move lower towards 703/690 levels . A rise above 751 to negate this bearish view. S1:725 S2:710 R1: 750 R2: 768

MCX Natural Gas June : Dips to 184.0/182.0 likely to find support for a move higher towards 201 levels now. Only a fall below 174 to negate this bullish view now. S1: 184 S2: 180 R1: 191 R2: 196

TRADING STARTEGY FOR THE DAY ::

MCX GOLD AUGUST ::
Sell on rise to 14512-14604 with a stop loss of 14642.
On further fall below 14420, expect lower range of 14383-14291 range to be tested. Daily Reversal : 14630

MCX SILVER JULY ::
Sell on rise to 23497-23732 with a stop loss of 24018.
Support is at 23162.
Sell on fall and close below 23162 with high of the day stop loss.
Expect subsequently lower range of 23094-22859 to be tested.
Daily Reversal : 23667

INTERNATIONAL SPOT GOLD ::

A head and should pattern seems to be visible and a breakdown has been witnessed.
Support and the 38.2% retracement of 940$ has been violated and the close is below it.
Expect slide towards 50% to 61.8% retracement level is near term.
The 38.2% and 61.8% retracement levels are placed at 925$ and 911$ respectively.
Resistance will be at 944$-952$-966$.
Traders can sell on rise to 944$-952$ range with a stop loss of 966$.
In order to minimize risk, traders can wait for rise above 952$ and when it falls below 952$ then sell with high above 952$ as the stop loss.

INTERNATIONAL SPOT SILVER ::

Support and 38.2% retracement is put to test which is placed at 14.63$.
On sustained fall below 14.63$, expect further slide towards 50% and 61.8$ retracement level which are placed at 14.10$ and 13.61$ respectively.
Resistance will be at 14.94$-15.42$-15.51$.
Use rise to 14.94$ or above to exit long positions.
Intra-day traders can wait for a fall below 14.63$ and when it moves above 14.80$ then buy with low below 14.63$ as the stop loss to exit at 14.94$-15.42$ range as the opportunity arises.
Intra-day traders can wait for a rise above 15.23$ and when it falls below 15.24$ then sell with high above 15.23$ as the stop loss.
The trend line have been violated therefore attempt to pullback to and above the trend line could be attempts.

ENJOY TRADING !!!!

VIEWS FOR 12TH JUNE 2009

MCX Gold August: Prices are consolidating between 14759 and 14391 as of now. Break of the range will decide the direction.Only a break above 14773 will be a bullish sign. S1: 14550 S2: 14470 R1: 14740 R2: 14860

MCX Silver July : Dips to 23454/23532 could find support for a move higher towards 24414/24460, breakbelow 23144 will be a bearish sign. S1: 23750 S2: 23500 R1: 24200 R2: 24550

MCX Copper June: Dip to 253/254 to find resistance for fall lower toward 263/265; break below 250.2 will negate bullish view. S1: 251 S2: 248 R1: 258 R2: 263

MCX Crude Oil June: As long as 3431 holds support expect move toward 3557/3585, break below 3400will be bearish sign. S1: 3400 S2: 3350 R1: 3500 R2: 3540

MCX Zinc June: Dips to 79.00 / 78.50 likely to find support for a move higher towards 82.00 levels now. Only a fall below 77.80 to negate this bullish view. S1: 79.10 S2: 78.15 R1: 81.00 R2: 82.40

MCX Lead June : Dips to 82.65/82.30 likely to find support for a move higher towards 87.50 level now. Only a fall below 81.00 to negate this bullish view.S1: 84.50 S2: 83.00 R1: 86.70 R2: 87.60

MCX Nickel June: Dips to 736/733 likely to find support for a move higher towards 760 levels now. Only a fall below 718 to negate this bullish view. S1:732 S2:720 R1: 763 R2: 775

MCX Natural Gas June : Dips to 184.0/182.0 likely to find support for a move higher towards 201 levelsnow. Only a fall below 174 to negate this bullish view now. S1: 184 S2: 180 R1: 191 R2: 196

TRADING STRATEGY ::

GOLD MCX AUGUST :: Cover short positions on dip to 14628-14562 as the opportunity arises.
Intra-day traders can wait for a rise above 14731 and when it falls below 14731 then sell with high above 14731 as the stop loss.
A rise towards 14731-14797 is likely but need to be seen if it an sustain

SILVER MCX JULY :: Expect a rise towards 24171-24939.
Overall use rise to 24171-24393 to exit pending stuck up long positions.
The nature of movement is sideways therefore twin strategy can be adopted as per individual comfort.
Traders can buy on corrective dip to 23795-23573 with a stop loss of 23420.
Intra-day traders can wait for a rise above 24171 and when it falls below 24171 then sell with high above 24171 as the stop loss to cover at 23948-23795 range.
Sell further on fall and close below 23420

INT. SPOT GOLD :: A sideways movement for last 3-4 trading days in the range of 966$-940$ is being witnessed.
Traders holding short positions can cover at current price to 940$ range as the opportunity arises.
Sell further on fall and close below 940$.
If that happens then expect a slide towards the 50% and 61.8% retracement levels of 927$ and 912$.
Resistance is at 961$-966$.
A rise and close above 966$ can imitate a pullback of the fall from 990$-942$.

INT. SPOT SILVER :: Immediate resistance is at 15.51$.
On rise above 15.51$, expect rise towards 15.66$-15.85$-16.04$.
Support will be at 15.16$-14.94$.
Corrective dip to 15.16$ can be used for buying with as stop loss of 14.94$.
Overall, traders can use rise to exit long and take profit if any at resistance level of 15.66$-16.04$.
Sell on fall and close below 14.94$ as trend line violation could be witnessed.

NYMEX LIGHT CRUDE OIL :: A channeled up move in Crude Oil is being witnessed.
Expect a rise to move towards 76-79$ in days to come.
Support will be at 71.8$-71.3$-70.4$-70$.
Overall hold long positions with a stop loss of 70$.
Corrective dip to 71.80$-71.3$ can be used for buying.
We had indicated earlier when 60$ was crossed the first range was 66-69$ and the next was 76-79$.
The first has been crossed and now we are gradually heading towards 76$-79$ in a channeled up move.

ENJOY TRADING !!!!

VIEWS FOR 11TH JUNE 2009

MCX Gold August: Rallies to 14703 / 14780 likely to find resistance for a move lower towards 14381 levels now. A rise above 14918 to negate this bearish view. S1: 14550 S2: 14470 R1: 14700 R2: 14830

MCX Silver July : Rallies to 24004/24129 likely to find resistance for a move lower towards 22645 levels now. Only a rise above 24269 to negate this bearish view. S1: 23480 S2: 23200 R1: 23900 R2: 24300

MCX Copper June: Rallies to 249.75 / 251 likely to find resistance for a fall towards support levels at 241.30/238.0 levels now. A rise above 253 to signal continuation of the bullish move. S1: 245 S2: 241 R1: 251.5 R2: 255.5

MCX Crude Oil June: Rallies to 3435 / 3449 likely to find resistance for a move lower towards 3269 / 3254. A rise above 3473 to negate this bearish view. S1: 3320 S2: 3250 R1: 3410 R2: 3460

MCX Zinc June: A break below 75.4 could lead price lower towards 74.80 / 74.50 levels . Favored view expects supports to hold dips for a rally towards 77.50 / 78.20 levels. Only a fall below 73.00 to negate this view. S1: 75.00 S2: 74.15 R1: 76.70 R2: 77.80

MCX Lead June : A break below 81.10 could lead price lower towards 79.50 /79.80 levels . Favored view expects supports to hold dips for a rally towards 83.80 /84.20 levels. Only a fall below 77.45 to negate this view. S1: 80.50 S2: 79.30 R1: 82.70 R2: 84.00

MCX Nickel June: A break below 707 could lead price lower towards 700 / 696 levels . Favored view expects supports to hold dips for a rally towards 750 /755 levels. Only a fall below 678 to negate this view. S1:705 S2:687 R1: 730 R2: 745

MCX Natural Gas June : Until the support at 168 holds expect prices to move towards 195 levels. Close above 195 will confirm more bullishness .Fall below 167 will negate our view. S1: 172 S2: 165 R1: 183 R2: 188

TRADING STRATEGY ::

GOLD MCX AUGUST ::
Support will be at 14553-14507.
Sell on fall and close below 14500.
Traders who are already short on Gold can cover short positions at 14553 or below as the opportunity arises.
Re-enter short on fall and close below 14500.
Resistance will be at 14720.
Traders who are already holding short positions can maintain a stop loss of 14720.
Intra-day traders can wait for a rise above 14700 and when it falls below 14700 then sell with high above 14700 as the stop loss

SILVER MCX JULY ::
Cover short positions at 23356 or below as the opportunity arises and maintain a stop loss of 23948.
Sell further on fall and close below 23162 with high of the day stop loss.
Intra-day traders can wait for a rise above 23869 and when it falls below 23869 then sell with high above 23869 as the stop loss to cover at 23575 or below.

INTERNATIOAL SPOT GOLD ::
A sideways volatile movement in the band of 966$-942$ is being witnessed for last 4 trading days.
Resistance continues at 961$-966$.
Traders holding long positions by chance can exit long on rise to resistance.
In case of rise above 966$, followed by a close also above it then we could see a rise to test the broker trend line which is moving up now.
Yesterday, it moved to 966$ but closed lower.
Trading long positions can be undertaken above 966$ only in the mean time look to exit long.
Traders who are short need to maintain a stop loss of 966$.
Sell further on fall and close below 942$.
Lower support range is at 946$-942$.

INTERNATIONAL SPOT SILVER ::
Sideways movement in the band of 15.49-14.71 is being witnessed.
Traders can buy on rise above 15.49$ with a stop loss of 15$.
Sell on fall below 15$ with a stop loss of 15.49$.
Expect lower range of 14.88-14.75$ to be tested on fall below 15$.
In the same way a rise above 15.49$ can take silver price to test the trend line which was violated a few days back. The same trend line will not act as resistance in case of rise and close above 15.49$. The trend line value is placed at 15.75$.

ENJOY TRADING !!!!

VIEWS FOR 10TH JUNE 2009

MCX Gold August: As long as 14473/14503 holds support expect a move towards 14841/14871, break below 14458 would negate this bullish view.S1: 14520 S2: 14450 R1: 14680 R2: 14750

MCX Silver July : As long as 23090/23168 holds support expect a move towards 24178, break below 23012 will negate this bullish view. S1: 23360 S2: 23100 R1: 23768 R2: 24000

MCX Copper June: Dips to 243.85/241.20 to find support for a move higher towards 255, break below 237 will negate this bullish view. S1: 243 S2: 239 R1: 250 R2: 254.5

MCX Crude Oil June: Dips to 3288/3279 to find support for a move higher towards 3392/3415, break below 3232 would negate this bullish view. S1: 3255 S2: 3200 R1: 3340 R2: 3400

MCX Zinc June: Dips to 75.0/74.75 likely to find support for a move higher towards 78.20 levels . Only a fall below 74.00 to negate this bullish view. S1: 75.00 S2: 74.15 R1: 76.70 R2: 77.80

MCX Lead June : Dips to 81.35/81.00 likely to find support for a move higher towards 84.00 levels . Only a fall below 79.85 to raise doubts about this view. S1: 81.50 S2: 80.30 R1: 83.65 R2: 84.80

MCX Nickel June: Dips to 707/705 likely to find support for a move higher towards 730 levels. Only a fall below 686 to negate this bullish view. S1:705 S2:687 R1: 730 R2: 745

MCX Natural Gas June : Until the support at 168 holds expect prices to move towards 195 levels. Close above 195 will confirm more bullishness .Fall below 167 will negate our view. S1: 172 S2: 165 R1: 183 R2: 188

TRADING STRATEGY ::

GOLD MCX AUGUST ::

Support will be at 14553-14521.
Sell on fall and close below 14520.
Traders who are already short on Gold can cover short positions at 14553 or below as the opportunity arises.
Re-enter short on fall and close below 14520.
Resistance will be at 14681-14700.
Traders who are already holding short positions can maintain a stop loss of 14700.
Intra-day traders can wait for a rise above 14681 and when it falls below 14681 then sell with high above 14681 as the stop loss.

SILVER MCX JULY ::
Cover short positions at 23526-23284 as the opportunity arises and maintain a stop loss of 23848.
Sell further on fall and close below 23162 with high of the day stop loss.
Intra-day traders can wait for a rise above 23799 and when it falls below 23799 then sell with high above 23799 as the stop loss to cover at 23557 or below.

INTERNATIONAL SPOT GOLD ::

Resistance will be at 960-962$.
On rise above 962$ a pull back of the fall from 983.8 to 9242.8 is possible.
An attempt to test back the broken trend line will be attempted.
Traders holding short positions can cover at cmp of 958 or below.
Sell further only on fall below 942$.
Traders who are short need to maintain a stop loss of 962$.
Traders cant trade long on rise above 962$ with low of the day stop loss at the point of breakout.

ENJOY TRADING !!!!

VIEWS FOR THE WEEK STARTING FROM 8th JUNE 2009

VIEWS FOR THE WEEK STARTING FROM 8th JUNE 2009
MCX Gold August: Important resistance is at 14655-14670 levels now. Gold could be locked in a consolidation between 14500/14881 in the coming sessions.Price structures remain positive as long as 14225 support attempts to decline.S1: 14600 S2: 14495 R1: 14705 R2: 14810

MCX Silver July : Resistance will be seen at 24125/24205 levels now. An equality target for the present corrective decline lies at 22740. As long as 23940-24125 caps upside attempts we expect a decline towards 22740 in the coming sessions.S1: 23500 S2: 23120 R1: 23990 R2: 24365

MCX Crude Oil June: Near-term support is at 3200 for the uptrend to continue and rise towards 3400/3430. Stronger support is at 3120/3125 levels.Failure to hold support here could dent our bullish view. S1: 3200 S2: 3130 R1: 3280 R2: 3320

MCX Copper June: Break above resistance at 241-242 to open the way for a est of 256/257 levels in the coming sessions. Fall below 229 to dent our bullish expectations.S1: 234 S2: 230 R1: 242 R2: 247

MCX Zinc June: Rallies to 74.40/74.75 levels likely to find resistance for a move lower towards 71.50 levels .Only a rise above 75.10 to negate this bearish view.S1: 73.0 S2: 71.0 R1: 74.1 R2: 75.3

MCX Lead June : Rallies to 78.05/78.20 to find resistance for a move lower towards 76.00 levels.Only a rise above 78.60 to negate this bearish view. S1: 77.00 S2: 76.00 R1: 78.3 R2: 79.0

MCX Nickel June: Rallies to 657/ 660 likely to find resistance for a move lower towards 622/620 levels.Only a rise above 661 to negate this bearish view.S1:637 S2:625 R1: 668 R2: 690

MCX Natural Gas June : Until the support at 177 holds expect prices to move towards 195 levels. Close above 195 will confirm more bullishness .Fall below 173/174 will negate our view. S1: 177 S2: 173 R1: 188 R2: 192

TRADING STRATEGY FOR THE DAY ::
GOLD MCX AUGUST ::

Exit long positions on rise to 14713-14858 as the opportunity arises.
Re-enter long on rise and close above 14970.
Support will be at 14567-14520.
On fall and close below 14500 can take Gold towards 14375.
Traders can wait for a rise above 14858 and when it falls below 14858 then sell with high above 14858 as the stop loss.

SILVER MCX JULY ::

Traders holding long positions can maintain a stop loss of 23421.
Look for rise to 23885-24288 to take profit.
Re-enter long on rise and close above 24690.
Expect a correction on fall and close below 23420 as the trend line also will get violated.

INTERNATIONAL SPOT GOLD ::

Overall objective can be to exit long position and sell on rise to the resistance level.
Resistance will be at 963$-975$ with a stop loss of 990$.
On fall and close below 952$, expect a correction.
The trend line has been violated. A further fall and close below 952$ will bring about a correction of the rise from 864$ to 990$.
The retracement level in that case will be placed at 942$-927$-912$.

INTERNATIONAL SPOT SILVER ::

Support will be at 15.31$-15$.
Resistance will be at 15.65$-16.23$.
A sideways volatile movement is being witnessed.
If the support of 15$ is not violated then we could find price spike towards the resistance or could even test 16.40$.

ENJOY TRADING !!!!

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VIEWS FOR 1ST JUNE 2009

VIEWS FOR THE WEEK ::

MCX Gold August: Resistances are at 14955/14970 followed by 15107 levels. A corrective dip towards 14650 levels look likely after the rise towards resistances Supports are at 14800 followed by 14680. S1: 14800 S2: 14735 R1: 14900 R2: 15100

MCX Silver July : Immediate resistance is at 24750/24800 levels. Ideally, a corrective decline should take place from here towards 23015.Else the move has the potential to even test 27250/27280 levels. S1: 24000 S2: 23660 R1: 24335 R2: 24700

MCX Copper June: A rally towards 245 levels or even higher expected. Supports are at 226 followed by 222.Fall below 212 to dent our bullish expectations.S1: 227 S2: 223 R1: 231 R2: 236

MCX Crude Oil June: Supports are at 3090 followed by 3050. Favored view expects a rally towards 3255 or even towards 3490 as long as supports hold.Fall below 3040 could weaken the bullish structure. S1: 3100 S2: 3060 R1: 3150 R2: 3225

MCX Zinc June: Initial resistance is at 73.2/73.3 levels. Above this level prices may move towards 75.0/76.2 levels.Failure to break above 73.3 could see a move lower towards next important supports at 71.3 followed by 69.5.S1: 71.3 S2: 69.5 R1: 75.0 R2: 76.2

MCX Lead June : Strong resistance is seen at 75.0 level. Until prices break above this level expect prices to move towards 72.5 levels.Moves above 75.0 is likely to take prices towards 76.8 levels. S1: 72.5 S2: 70.0 R1: 75.0 R2: 76.8

MCX Natural Gas June : Until the resistance at 188 levels caps any up moves expect prices to move towards 178 levels.Close above 188 will be a bullish sign.S1: 181 S2: 178 R1: 188 R2: 192

MCX Nickel June: Dips to 648/650 levels to find support for higher moves towards 665/670 levels now.Fall below 645 to cause doubts on this bullish view.S1:648 S2:639 R1: 660 R2: 670

TRADING STRATEGY FOR THE DAY ::

GOLD MCX JUNE ::

Expect rise towards 14987 at least and to an outer extent to 15228.
Immediate support is at 14870.
On fall below 14870, expect 14838-14759.
Traders holding long positions can keep a stop loss of 14870 to hold long positions and take profit at 14987 or above as the opportunity arises.
Corrective dip to 14759 or below can be used for buying with a stop loss of 14720.

SILVER MCX JULY ::
The continuous chart of Silver show a breakout but the contract chart for July has yet to show.
The resistance on July contract is at 24300.
A breakout and close above 24300 can take the price higher to the range of 25052-25328.
Traders holding long positions can keep a stop loss of 23990.
Expect higher range of 24268-24342 to be tested.

INTERNATIONAL SPOT GOLD ::

Resistance will be at 997$-1005$-1031$.
Support will be at 961$-940$.
Expect a rise to rest the resistance of 997$ at least.
Traders holding long positions can maintain a stop loss of 940$ and look for rise towards 997$-1031$ to take profit.
Trend line resistance and the resistance from the lower tops will be witnessed

INTERNATIONAL SPOT SILVER ::

Expect a rise towards 16..40$.
Friday’s low of 15.12$ is the immediate support and stop loss to hold long positions.

USD INR ::
Support for USD is at 47$-46.40$.
Resistance will be at 48..10$.
In case of fall and close below 46.40$, USD can slide down further towards 45.75$ to 44.10$.
Traders who are short on USD can maintain a stop loss of 48.10$.
A rise and close above 48.10$ in near term can bring about a pullback rise of the fall from the recent peak of 52.13$ to 47$ or the low registered below it.

MUNNABHAI ANALYST

TECHNICAL OUTLOOK ON GOLD SILVER AND CRUDE FOR NEAR TERM

COMEX GOLD TECHNICAL OUTLOOK:- Comex Gold (GC)
Gold rally resumes and reaches as high as 978.5 so far today. Break of 967.6 resistance confirms that correction from 1007.7 has completed at 865 already. And further rally should now be seen to retest 1007.7/1033.9 resistance first. On the downside, though, below 945.4 support will suggest that a short term top is formed and turn outlook neutral.
In the bigger picture, the corrective structure of the fall from 1007.7 so far is consistent with the bullish case. That is, rise from 681 is resumption of long term up trend after triangle consolidation from 1033.9 completed at 681. Retest of 1007.7/1033.9 resistance zone should now be seen. Decisive break there will confirm long term up trend resumption. On the downside, while another fall cannot be ruled out for the moment, we'll hold on to the bullish case as long as 801.5 cluster support (61.8% retracement of 681 to 1007.7 at 805.7 ) remains intact

COMEX SILVER TECHNICAL OUTLOOK:-Comex Silver (SI)
Silver rises further to as high as 15.58 today so far and at this point, intraday bias remains on the upside as long as 15.125 minor support holds. Current rally is expected to extend to 16.08 medium term support turned resistance next. On the downside, below 15.125 will turn intraday outlook neutral first. But break of 14.306 support is needed to indicate that Silver has topped out. Otherwise, short term outlook remains bullish.
In the bigger picture, with Silver staying above 55 weeks and 55 months EMA, rise from 8.4 is treated as either part of the consolidation from 21.44 or resumption of the long term up trend. Hence, current rise is expected to extend further into resistance zone at 16.05 and 19.55, with prospect of retesting 21.44 high. We'd hold on to this bullish view as long as 11.725 support holds
NYMEX LIGHT SWEET CRUDE:-Nymex Crude Oil (CL)
Crude oil rises further to as high as 66.36 today and at this point, intraday bias remains on the upside as long as 64.66 minor support holds. Current rally is expected to extend further to 55 weeks EMA (now at 67.29) next. On the downside, below 64.66 will turn intraday outlook neutral first. But break of 59.61 support is needed to indicate that crude oil has topped out. Otherwise, further rally is still in favor.
In the bigger picture, whole medium term rebound from 33.2 is still in progress with crude oil staying well inside rising channel and above 55 days EMA. There is no sign of topping yet and such rally is still in favor to continue. Nevertheless, the main question remains on whether such rebound is resuming the long term up trend or is it merely correction to the fall from 147.27. In any case, medium term outlook will remain bullish as long as crude oil stays above channel support and further rally to 55 weeks EMA at 67.33 and 55 months EMA at 68.85 is still in favor even in case of pull back. However, note that failure to sustain above the mentioned EMAs, followed by break of the channel support, will suggest that rise from 33.2 has completed and will turn outlook bearish for a retest of 33.2 low.
NYMEX NATURAL GAS:-Nymex Natural Gas (NG)
Natural gas' rebound from 3.388 is much stronger than expected but after all, upside is still limited by 61.8% retracement of 4.575 to 3.388 at 4.120. Outlook remains neutral for the moment. Below 3.821 minor support will suggest that rebound from 3.388 has completed and will flip intraday bias back to the downside for this low first. On the upside, though, firm break of 4.120 fibo resistance will argue that fall from 4.575 is merely a correction to rise from 3.155 and will bring retest of this resistance.
In the bigger picture, outlook is rather mixed for the moment as rebound from 3.155 might have completed at 4.575 already. Below 3.388 will affirm the case that such rise is merely a correction in the larger down trend. Break of 3.155 low will target 3.0 psychological support next, with prospect of further weakness to 100% projection of 15.78 to 4.593 from 13.69 at 2.50. On the upside break of break of 4.575 will revive the case the natural gas has bottomed out in medium term and bring rebound to 38.2% retracement of 13.69 to 3.15 at 7.18. (FOR TRADING RECOMMANDATION IN MCX AND PHYSCAL TRADE CONTACT US ON PHONE OR MESSENGER ENJOY TRADING)

VIEWS FOR 25TH MAY 2009

VIEW FOR THE WEEK ::
MCX Gold June: Immediate support is at 14485 followed by 14409/14424 levels . A possibility of a decline to 14256 also looks likely.Favored view expects support in the 14409 zone to hold for a test of 14745 or even higher.S1: 14450 S2: 14350 R1: 14650 R2: 14765

MCX Silver July : Supports are at 22576 followed by 22359/22390 now.Favored view expects a test of 23712 or even higher as long as 22265/22298 supports attempts to decline.S1: 22535 S2: 22340 R1: 22775 R2: 23000

MCX Copper June: Strong resistance will be seen at 226.40/227.45 levels now. Big picture confirms a possible test of 247.35 or even higher towards 256.70 levels as long as 212.0/213.0 levels hold support. Fall below 210.65 to dent our bullish view.S1: 215 S2: 213 R1: 223 R2: 227

MCX Crude Oil June : A push above 2951 could lead it to 3019. Supports near 2826 or 2776 could hold dips during the week for a push above 2949.This is the favored view. Fall below 2741 would be a sign of weakness. Next supports are at 2713 2675.S1: 2875 S2: 2825 R1: 2935 R2: 3000

MCX Lead May : Down moves are likely to find support at 66.3 levels. Moves below this can take it further lower towards 64.3 levels.Direct rise above 68.4 to negate our bearish view. S1: 66.8 S2: 65.3 R1: 68.4 R2: 70.2

MCX Zinc May : Strong support is seen in the range of 67.6 67.9. Down move are likely to find support at these levels.Direct rise above 70.8 to strengthen bullishness. S1: 67.9 S2: 66.6 R1: 70.85 R2: 71.7

MCX Nickel May : Favored view expects prices to move further down towards 580 support levels before rising higher towards 615 levels.S1:580 S2:565 R1: 610 R2: 621

MCX Natural Gas June : Strong support seen at 168 165 levels to hold dips for a move above 175 levels.Fall below it can take prices towards 160 levels. S1: 168 S2: 166 R1: 174 R2: 179

TRADING STRATIGIES FOR THE DAY::

GOLD MCX JUNE ::

Resistance of 14577 will be tested. Further need to be seen if it can sustain.
Trend line resistance are lying overhead.
First trend line resistance is from the broken trend line and next is of the falling lower tops as shown in the chart.
The trend is down has the price is below the average and daily reversal value. The rise is termed as a pull back.
Intra-day traders can wait for a rise above 14577 and when it falls below 14577 then sell to cover at 14517-14463 range as the opportunity arises.
Sell on fall and close below 14456 with high of the day stop loss or 14577 whichever is higher at the point of breakdown.

SILVER MCX JULY ::

Overall sideways movement within the band of 23181 to 21632 is being witnessed.
Immediate support is at 22648-22407-22376.
Resistance will be at 22919-23160
Corrective dip to 22648-22407 can be used for buying with a stop loss of 22375 and look for rise to 22919-23160 above to take profit.
Recent high of 23181 is the near term target. On close above 23181, the rally could get extended.


INTERNATIONAL SPOT GOLD ::

Support will be at 949$.
Resistance will be at 961$-969$.
Traders can hold long positions with a stop loss of 949$.
Fresh trading long position can be undertaken above 962$


INTERNATIONAL SPOT SILVER ::

Support will be at 14.54$-14.4$.
Resistance will be at 14.84$.
Hold long positions with a stop loss of 14.4$.
Fresh trading buy can be undertaken above 14.54$. Subsequently, expect 14.9$ to be tested.

ENJOY TRADING !!!!
MUNNABHAI ANALYST
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EXPECTATION OF SPOT GOLD SILVER WITH TRADING STRATEGY AS ON 14TH APRIL

INTERNATIONAL SPOT GOLD :A strong moves was witnessed yesterday to cross 897$.
Expect resistance at 899$-903$ which will be tested.
A pullback rise of the fall from 967$ to 869$ is in process.
The retracement levels are placed at 903$-915$-927$.
A pullback to these retracement could be witnessed. If Gold fails to sustain at these retracement and react down sharply then we could find price moving below 869$ subsequently.
On the immediate front, a rise to test the retracement level is like with first at 903$.

INTERNATIONAL SPOT SILVER:A strong positive candle was witnessed yesterday along with a rise and close above 10 day moving average.
A pull back towards the trend line is possible if another round of follow up rise above 12.88$ is witnessed.
Traders can trade long above 12.88$ with low of the day stop loss at the point of breakout above 12.88$.
The trend line value is around 13.25$

MCX GOLD TRADING STRATERGY :Cover short positions on dip to 14360-14251 as the opportunity arises.
Resistance will be at 14469-14485.
On further close above 14485 with positive candle can resume a pullback rise for near term towards 14594-14650.
Support will be at 14251-14235.
During the day a rise to test the L3-L4 range could be attempted.
If the close is above 14485 then we could see a rise to retrace the fall from 15595 to 14022. The 38.2% is placed at 14619.

MCX SILVER TRADING STRATERGY:Resistance will be at 21199-21280-21323.
Resistance could be tested but sustainability at higher range can be an issue.
Traders holding short positions can cover the same at current price of 21069-20692 range as the opportunity arises.
Intra-day traders willing to take risk can wait for a rise above 21323 and when it falls below 21323 then sell with high above 21323 as the stop loss.
In case of a close above 21323 with a positive candle then in days to come, we could see a pullback rise of the fall from 22936 to 20180. The retracement levels of this fall would be placed at 21224-21569-21894.

VIEWS AND TRADING STRATERGY FOR 13 TH APRIL

MCX Gold June: Supports are at 13885 & 13690. Resistance levels are at 14210, 14255 & 14320. Favored view expects one more decline towards 13710/13630 region or maximum 13560, possibly ending a corrective sequence. Rise past 14430 followed by 14640 is needed to cause doubts about this bearish view.S1: 14130 S2: 14030 R1: 14430 R2: 14510

MCX Silver May: Chart looks bearish and suggests that price could fall to 19690 or 18920/18750. Daily chart points to 19345 or 18450 as possible downside objectives. It needs to rise above 21200 to shed this bearishness. Immediate resistance is at 20790 levels.S1: 20460 S2: 20350 R1: 20625 R2: 20700

MCX Copper April: Resistance is at 237/241 levels or even higher towards 245/246levels now. A correction towards 228 levels can be expected from there. However, the uptrend looks strong and corrective dips need to be bought again.
S1: 228 S2: 220 R1: 234 R2: 240

MCX Crude Oil April : Supports near 2517 or 2480 could hold dips if any. The structure looks bullish. It is more likely to take out the next important resistance at 2622 and reach for next objective at 2785. Fall below 2450 would cause some doubts about this bullish view.
S1: 2520 S2: 2480 R1: 2620 R2: 2700

MCX Zinc April: Dips to 68.3 likely to find support for a move higher towards 69.5/70.0. A move below 68.1 to negate this bullish view.S1: 68.3 S2: 67.75 R1: 69.5 R2: 70.0

MCX Lead April: Support is now at 70.0 levels. Until this support holds prices to likely to make highs of 72.0/73.0 levels. Direct fall below 69.4 to negate our bullish view.
S1: 70.0 S2: 68.5 R1: 71.5 R2: 72.9

MCX Nickel April: Prices are consolidating in the range of 537-552 .Up moves beyond 556 may take prices further up towards 565/570 levels. Fall below 533 to dent our bullish view.
S1: 542 S2: 533 R1: 556 R2: 565

INTERNATIONAL SPOT GOLD ;-In last 4-5 trading days, we have witnessed a price movement within a band of 897$-864$.
The trading higher bottom after 864$ is placed at 873$.
Immediate resistance is placed at 890$.
Resistance of 890$ will be tested and could move towards 897$ at least. Sustainability is questionable at this point.
A breakout and close above 890$ and 897$ can show a spike in Gold towards 910$.
Traders who are holding short positions can maintain a stop loss of 890$ or 897$ depending on individual risk bearing capacity.
Traders willing to take risk can still sell on rise to 890$ or above with a stop loss of 897$.
Overall pattern formation is not encouraging with head and shoulder pattern formation in place. The revised neckline is just under 890$ and the original neckline is round 910$.
Traders can sell on fall below 873

INTERNATIONAL SPOT SILVER:-Resistance will be at 12.49$-12.56$-12.77$.
Support will be at 12.41$-12.27$.
Resistance of 12.49$-12.56$ are under test in the early morning trades.
A further breakout and close above 12.77$ can bring about a near term change for a pullback rally.
But currently sustainability is questionable. Yes, early morning session has brought about a brisk start to the day with an up move. Silver needs to cross the resistance otherwise could surrender the early morning intra-day gains

NYMEX LIGHT SWEET CRUDE OIL:Resistance will be at 54$-56$. A rise to test the resistance is possible.
Support of 47.20$ held well last week as it bounce by making a low of 47.37$.
Expect a range bound movement in the band of 56$-47$

MCX GOLD TRADING STRATERGY:-The trend is down.
Movement gets narrowed.
Sell on fall below Rs. 14022 with stop loss of Rs. 14465 or high of the day whichever will higher at the time of breakdown.
Till then hold earlier short positions with stop loss of Rs. 14465.
No fresh positions advisable until break of Rs. 14022.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 14270 and when it falls below Rs. 14270 then sell with whatever high registered above Rs. 14270 as a stop loss. Subsequently, book profits at Rs. 14197 – Rs. 14116 range or below.

MCX SILVER TRADING STARTERGY:-The trend is down but nature of movement is sideways.
Ideally, cover short positions at market price and on dips to Rs. 20415 – Rs. 20279 as the opportunity arises.
Sell only on fall and close below Rs. 20180

VIEWS AS ON 9 TH APRIL

INTERNATIONAL SPOT GOLD :Range of movement is 864$-897$.
Yesterday low of 877$ as the immediate support but sell on fall below 877$ and keep a stop loss at 897$.
Resistance will be at 891$-897$.
Traders willing to take risk can wait for a rise above 891$ and when it falls below 891$ then sell with high above 891$ as the stop loss or 897$ whichever is higher
Major selling pressure can be witnessed only on fall and close below864$.
We could find price moving up to test the violated trend line before significant attempts to fall down lower. Above 897$ a rise to 910$ or towards the trend line which is placed around the same level is possible and will be confirmed

INTERNATIONAL SPOT SILVER:-Support is being witnessed at lower range of 12.16$-11.89$.
Expect further sharper selling pressure on fall and close below 11.89$.
Traders holding short positions can maintain a stop loss of 12.77$ overall.
Resistance will be at 12.49 and 12.77$.
Trades can cover short positions at current price to 11.89$ as the opportunity arises.
Re-enter short below 11.89$. Alternatively, wait for a rise above 12.49$ and when it falls below 12.49$ then sell with high above 12.49$ as the stop loss from purely intra-day angle. Or Sell on rise to 12.49 or above with sl of 12.77$ which is of wider range in terms of stop loss difference

NYMEX CRUDE :-Support of 47.20$ is under threat of violation.
Failing to sustain at higher range of 54$-56$ has been putting pressure of the support regularly to bounce up later again.
Expect selling pressure to be witnessed below 47$.
Use rise towards 52$-54$-56$ to exit long positions in loss or profit.
Re-enter long position on rise and close above 56$.
Traders already holding long positions need to maintain a stop loss of 47$

MCX GOLD TRADING STRATERGY:-The trend is down.
Sell on rise to Rs. 14325 – Rs. 14438 with stop loss of Rs. 14502.
Expect a fall towards Rs. 14184 – Rs. 14071.
Add more on fall below Rs. 14020.
On sustain fall prices are likely to test the level of Rs. 13848 in coming sessions.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 14438 and when it falls below Rs. 14438 then sell with whatever high registered above Rs. 14438 as a stop loss. Subsequently, book profits at Rs. 14325 – Rs. 14184 range or below

MCX SILVER STRATERGY:The trend is down.
Sell on fall below Rs. 20180 with high of the day as a stop loss.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 20761 and when it falls below Rs. 20761 then sell with whatever high registered above Rs. 20761 as a stop loss. Subsequently, book profits at Rs. 20542 – Rs. 20334 range or below

VIEWS WITHH TRADING STRATEGY FOR 8TH APRIL 2009

MCX Gold June: As expected we saw a pullback to 14285/14320 levels. Could extend to 14430 or even higher towards 14510. Dips can be expected to find support near 14220/14240 levels. However, in the bigger picture as long as 14675/14710 levels caps upside attempts we expect a break below 14030 andtest 13670 levels.S1: 14130 S2: 14030 R1: 14430 R2: 14510

MCX Silver May: Expected to consolidate between 20375/20460 and 20625/20710 and rise higher towards 20930 or even higher towards 21080.Unexpected fall below 20375 to cause doubts on our bullish view. S1: 20460 S2: 20350 R1: 20625 R2: 20700

MCX Copper April: Consolidation between 216 to 225 in progress preparing for a 228 or even higher towards 232/234 levels. However,fall below 215 to dent our bullish expectations and result in a sharp fall towards 208 or even lower towards 198 levels.S1: 213 S2: 206 R1: 224 R2: 230.

MCX Crude Oil April : Resistances are at 2510 followed by 2560 on the upside. Favored view expects resistances to cap for a decline towards 2360.consolidation to continue and rise towards 2775 or even higher.S1: 2400 S2: 2360 R1: 2510 R2: 2560

MCX Zinc April: Prices are likely to move down and find support at 66.1 levels. Unable to hold this support may take it further down to 65.0 levels.Moves above 68.5 to negate our bearish view. S1: 66.5 S2: 65.7 R1: 68.2 R2: 69.5

MCX Lead April: Supports are at 66.0 and 65.0. Prices are likely to hold this support and move up towards 68.2 levels. Unexpected fall below 65.0 to dent our bullish view.S1: 66.0 S2: 65.0 R1: 67.3 R2: 68.5

MCX Nickel April: Up moves beyond 552 may take prices further up towards 560/565 levels.Fall below 530 to dent our bullish view.S1: 542 S2: 533 R1: 550 R2: 560

MCX Natural Gas April : Prices have closed below the support of 184 indicating bearishness. Down moves are likely to take prices to 173/175 levels.Unexpected rise above 190 to dent our bearish view. S1: 178 S2: 173 R1: 184 R2: 190



TRADING STARTEGY ::
GOLD MCX JUNE ::
The trend is down but a short covering is being witnessed.
Ideally, cover short positions at market price and on dips to Rs. 14256 – Rs. 14192 as the opportunity arises.
Sell on fall below Rs. 14020.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 14361 and when it falls below Rs. 14361 then sell with whatever high registered above Rs. 14361 as a stop loss. Subsequently, book profits at Rs. 14256 – Rs. 14192 range or below.

SILVER MCX MAY ::

The trend is down but a short covering is being witnessed.
Ideally, cover short positions at market price and on dips to Rs. 20424 – Rs. 20258 as the opportunity arises.
Sell on fall below Rs. 20180.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 20668 and when it falls below Rs. 20668 then sell with whatever high registered above Rs. 20668 as a stop loss. Subsequently, book profits at Rs. 20424 – Rs. 20258 range or below.

INTERNATIONAL SPOT GOLD ::

Support will be at 874$-864$.
Sell on fall and close below 864$.
Resistance will be at 889$-897$.
A pullback towards the trend line which has been violated will be attempted.
An H&S pattern could be in place. The trend line or the neckline is violated. A close above 910$ will mean a false breakdown attempts.
On fall below 864$, expect a slide towards 821$-801$.
A couple of days o sideways movement a minor upside bias could be witnessed before a further follow up down move.

INTERNATIONAL SPOT SILVER ::

Support will be at 11.89$.
Resistance will be at 12.41$-12.56$-12.77$.
Expect further selling pressure on fall and close below 11.89$.
A rise to test the resistance is possible as a result of the sharp down move yesterday. The resistance of 12.41$-12.56$ could be tested.

TECHNICAL VIEW OF SPOT GOLD SILVER AND TRADING STRATEGY

INTERNATIONAL SPOT GOLD VIEW:----A breakout was witnessed yesterday as it fell and close below the level of 882$ which is the 38.2% retracement of the rise from 681$ to 1006$.
Expect lower range of 845$ to be tested in days to come at least and to an outer extent to 806$.
Resistance will be at 882$ and 897$.
A rise and close above 897$ can halt the fall and a rise back up to test the lower top of 967$ could be a possibility.
The fall yesterday was sharper therefore we could have a bounce towards the resistance of 882$ at least.
Sell on fall and close below 864$ with high of the day stop loss.
Alternatively, traders can sell on rise to 882$-890$ with a stop loss of 897$. In order to minimize risk, traders can wait for a rise above 882$ and when it falls below 882$ then sell with high above 88$ as the stop loss.

INTERNATIONAL SPOT SILVER VIEW:---Support will be at 11.89$.
Resistance will be at 12.41$-12.56$-12.77$.
Expect further selling pressure on fall and close below 11.89$.
A rise to test the resistance is possible as a result of the sharp down move yesterday. The resistance of 12.41$-12.56$ could be tested.

NYMEX LIGHT SWEET CRUDE OIL:---Resistance will be at 54$-56$.
A further rally can only be witnessed on rise and close above 56$.
Support range is at 50$-47.20$.
A sideways movement in a wider band of 56$-47$ is likely to be witnessed.
A fall and close below 47$ can take the price back down to test he low of 36$-32$ range.
Traders who are holding long positions need to maintain overall stop loss of 47$

MCX GOLD TRDING STRATEGY:---The trend is down.
Sell at market price and on rise to Rs. 14189 – Rs. 14357 with stop loss of Rs. 14425.
Expect a fall towards Rs. 13954 – Rs. 13786.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 14357 and when it falls below Rs. 14357 then sell with whatever high registered above Rs. 14357 as a stop loss. Subsequently, book profits at Rs. 14189 – Rs. 13954 range or below.

MCX SILVER TRADING STRATERGY:----The trend is down.
Sell at market price and on rise to Rs. 20603 – Rs. 20950 with stop loss of Rs. 21206.
Expect a fall towards Rs. 20000 – Rs. 19654.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 20603 and when it falls below Rs. 20603 then sell with whatever high registered above Rs. 20603 as a stop loss. Subsequently, book profits at Rs. 20000 – Rs. 19654 range or below

views and trading stratergy for monday 6 th april

MCX Gold June: Any rallies to 14600 to resist upside attempts quite strongly for a push to next levels at 13995/14010 or ideally 13700.Rise above 14790 could lead it up towards nearer resistance levels at 14870, 15115 or even 15180.Only a rise above 14790 would suggest the possibility of the end of a downward correction. S1: 14420 S2: 14290 R1: 14600 R2: 14720

. MCX Silver May :Favoured view expects a fall to 20400/19900 area initially.Resistance levels are at 21455, 21520 ,21570. Rise above 21723 would change this view.S1: 20815 S2: 20510 R1: 21550 R2: 21900

MCX Crude Oil April : The view is bullish for a rise towards 2820/2845. Supports are around 2580 2540. It has to fall below 2500 to give up this bullish view as such a fall could take it down to next levels at 2445 or even 2385.S1: 2570 S2: 2500 R1: 2650 R2: 2725

MCX Copper April: There is good scope for a corrective dip towards 210/211 levels on the back of heavily overbought indications.Supports are at 213/214 followed by 211. Fall below 206 could damage the bullish picture. S1: 213 S2: 206 R1: 224 R2: 230

MCX Zinc April: Close above 68.0 indicates bullishness. Up moves may take prices further high Moves below 65.0 may negate our bullish view.S1: 65.0 S2: 63.0 R1: 67.0 R2: 69.4

MCX Nickel April: Prices may consolidate for some time. Dips to 530/533 levels could find support for a move higher again towards 560 levels. A fall below 527 would negate this view.S1: 533 S2: 527 R1: 550 R2: 560

international spot gold;The channel had got violated some days back. It has tested the 38.2% retracement of the rise from 681$ to 1006$.
The 38.2% retracement was earlier tested in last couple of week and once again it has moved below the same in the early morning session. The 38.2% retracement is placed at 882$.
On further sustained fall and close below 882$, expect a slide down towards 844$ at least and to an outer extent to 806$.
Traders holding short positions can maintain a stop loss at 910$

nymex crude oil:Resistance will be at 54$-56$.
The higher bottom is placed at 47.20$.
Use rise towards 54$-56$ to book profits.
Re-enter long positions on close above 56$.

spot silver:
Last week’s low of 12.56$ has been violated in the early morning session.
Expect the low of 11.89$ to be tested.
Traders holding short positions can maintain a stop loss of 12.77$.
Resistance will be at 12.56$-12.65$.
Sell on rise to 12.56$-12.65$ with a stop loss of 12.77$.

mcx gold trding stratergy:The trend is down.
Sell at market price and on rise to Rs. 14582 – Rs. 14657 with stop loss of Rs. 14714.
Expect a fall towards Rs. 14449 – Rs. 14374.
On sustain fall, prices could touch important support area of Rs. 14240 – Rs. 14030.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 14582 and when it falls below Rs. 14582 then sell with whatever high registered above Rs. 14582 as a stop loss. Subsequently, book profits at Rs. 14449 – Rs. 14374 range or below

mcx silver trading stratergy;-The trend is down.
Sell at market price and on rise to Rs. 21328 – Rs. 21507 with stop loss of Rs. 21555.
Expect a fall towards Rs. 21100 – Rs. 20920.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 21328 and when it falls below Rs. 21328 then sell with whatever high registered above Rs. 21328 as a stop loss. Subsequently, book profits at Rs. 21100 – Rs. 20920 range or below.

WEEKLY OUTLOOK AS ON SUNDAY 5 TH APRIL

GOLD TECHNICAL OUT LOOK:Comex Gold (GC)
The choppy pull back from 967.8 extended further last week but after all, the corrective look of such fall is still consistent with the short term bullish view. Considering that Gold is now close to 882.7 support, initial outlook is neutral this week. Break of 932.5 will suggest that rise from 882.7 has resumed. As discussed before, corrective fall fro 1007.7 has completed at 882.7 and rise from there is tentatively treated as resumption of recent up trend. Beak of 967.8 will add much credence to this case and bring retest of 1007.7/1033.9 resistance zone. However, note that break of 882.7 will dampen the short term bullish case and bring deeper decline towards 801.5 cluster support (61.8% retracement of 681 to 1007.7 at 805.8 ).
In the bigger picture, while the correction from 1007.7 was slightly deeper than expected, the overall outlook doesn't change. That is, consolidation from 1033.9 has already completed at 681, in form of an expanding triangle pattern. Long term up trend is tentatively treated as resumed at this point and further rise should be seen to retest 1033.9 high. Break will confirm the bullish case and target 161.8% projection of 681 to 892 from 801.5 at 1142.9 next. On the downside, however, another fall below 882.7 will open up a few short term bearish scenarios that should at least bring deeper fall to 801.5 cluster support or below before resuming the long term up trend.
In the long term picture, as mentioned before, Gold's long term up trend from 260 is still in progress. Break of 1033.9 will confirm that such up trend has resumed and should target 61.8% projection of 260 to 1033.9 from 681 at 1159 next.

SILVER TECHNICAL OUTLOOK:Comex Silver (SI)
Silver's choppy pull back from 13.88 continued last week but after all, it's still holding 12.64 support after various attempt for break through. Initial outlook will remain neutral this week and some more sideway trading could be seen. But after all, we're still expecting 12.64 support to hold. Above 13.35 will flip intraday bias back to the upside and argue that rise from 11.89 is resuming. As discussed before, corrective fall from 14.6 should have completed with three waves down to 11.89 already. Break of 13.88 resistance will add further credence to this case and bring retest of 14.6 high. However, note that sustained break of 12.64 will dampen the short term bullish case and will put focus back to 11.89 low.
In the bigger picture, whole down trend from 21.44 has likely completed at 8.4 already and rise from there is still in progress. Focus now turns to next resistance at 16, with medium term falling trend line at 12.99 and 61.8% retracement of 21.44 to 8.4 at 16.45. Sustained break will confirm this case and argue that long term up trend is resuming and should target 21.44 high next. On the downside, break of 11.89 support is needed to be the first signal that rise from 8.4 has completed. Otherwise, outlook will remain bullish.
In the longer term picture, Silver's fall from 21.44 is treated as correction, or part of consolidation to the long term five wave rally from 4.315 and should have completed at 8.4 after being supported slightly above 76.4% retracement of 4.315 to 21.44 at 8.36. On resumption, the long term up trend should target 100% projection of 4.315 to 21.44 from 8.4 at 25.52 next.

CRUDE TECHNICAL OUTLOOK:Nymex Crude Oil (CL)
Crude oil dipped to 47.26 last week but drew support from near term rising channel as well as 55 days EMA and rebounded. Rise from 33.55 should still be in progress and further upside should be seen to 54.66 first this week. Break will target next key level of 60, which is close to 23.6% retracement of 147.27 to 33.5 at 60.34. On the downside, below 47.26 will turn short term outlook neutral again and suggests that consolidation from 54.66 is still in progress. But after all, rise from 33.55 is still expected to resume as long as 42.08 cluster support holds.
In the bigger picture, prior break of 50.47 resistance serves as an important signal that crude oil has finally bottomed out in medium term at 33.55, on bullish convergence condition in daily MACD, after drawing support from 17.12/33.5 key long term support zone. Sustained trading above 50.47 confirms this case and open up the prospect of stronger rally towards next key level at 90.51 (50% retracement of 147.27 to 33.5 at 90.38). However, failure at the current level, followed by break of 42.08 cluster support will revive that case that rise from 33.55 is just part of a medium term sideway consolidation pattern and will put 33.55 low back into focus.
In the longer term picture, steep decline from 147.27 is treated as a correction in the larger up trend only and should be contained by 17.12/33.5 support zone and bring strong rebound towards 90.51 resistance level. Focus will remain on confirmation of reversal for the moment.