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Industry : Equity Research/Analytics Functional Area : Derivatives
Activity:  3 comments  630 views  last activity : 07 06 2010 20:18:04 +0000
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Comex gold : Comex gold has been trading still in the triangle in medium term which is range of 926 & 972 $ , a Breach on any Side Would signal the next possible trend. In the short term its been Hovering in Small range of 935 $ & 960$ , Suggest good Consolidation
             a Decisive break on Any side with good volumes will lead to further trend which can be there For next 3-4 weeks

MCX gold : Gold Has been lot whipsaws Recently trading in larger channel of 14800 & 15025 , and on intraday Basis Breaching Both the levels in currently week, but managing to Close again inside the range same Day , A clear close outside range of 14800 on downside would open targets till 14450 & on upside a close above 15065 Would Open target of 15350
Trend Analysis : Sideways Range bound
Gold : 14940-14970-15010-15035-15070 Trend (Range bound sideways)

Comex Silver : Comex Silver Re-tested the medium term Resistance in Zone of 14.45$ & 14.55$ , a Breakout above same would Mean the start of fresh new up trend After consolidation opening upside target of 14.86--15.05
               Shorts Can be taken for Short term with Closing Sl at 14.55 , with Again downside targets of 14.02--13.85 levels

MCX silver : Silver Will Face stiff resistance in the zone of 23500-23550 , a breakout above same with good volumes can open upside target of 23800-23940. Avoid Fresh long unless 23550 is taken off with volumes. on the downside supports are Seen at 23289-23210-23040

Trend analysis Silver: 23525 Important resistance Above that 23685, Support 23289-23210-23040
                (buy only if sustains above 23525)

Crude oil Nymex : Crude corrected sharply From higher levels of 74.86 $ to close below 72$ , the intermediate support is seen at 70.45$ where traders can again look to buy with SL below 69.55 , On upside will face Resistance at 72.45$ & 73.80$ again  
Trend Analysis : Buy on Dips till 69$ is held on closing basis

MCX crude : Crude oil will Find Support in range of 3432 levels Which is important Support level , below Which trend will reverse on upside Resistance is Seen at 3565 & 3600 , A firm Close above 3630 Will open upward targets of 3780
Trend Analysis : Buy on Dips till 3420 is held on closing basis

Natural gas Nymex : Natural gas after bouncing of little From the oversold region is trading in a Bullish flag more on Sideways near the zone of 3.20 $ , a Move 3.385 Would open upside target of 3.68$ . on downside supports at 3.01 & 2.80 are Seen , Re-test Of recent lows Cant be ruled Out
                    On upside Strong resistance is seen at 3.530 & 3.65 levels is seen

MCX natural gas : Natural gas Price Bounced of from recent lows of 155, the oversold zone to test the first resistance at 165 , And Retracted back to consolidate again in range of 159 & 162 , on upside Breach of 165 would open targets till 172--174, On downside supports seen at 155-158


Base metals Levels :
Nickel : 927--931-938-946-954-968
copper 311.35-309.3-308.5-306.5
Lead :100.2-99.5-98.65-98
Zinc : 90-89.4-88.6-8T

 
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3 comments on "Commodities Daily technical view "
  Commented by  Padmanabhan R, Finance student    | 08 27 2009 15:56:04 +0000
Thanks for sharing chirag sir,u r doing gr8 
Thanks For Referral Mr. Kabani, but I don't have much knowledge in this ..
  Commented by  sumitra dutta, Consultant, Keane    | 08 26 2009 08:50:43 +0000
Nice information Chiragji, really very informative. Thanks for sharing...
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