safe trade calls

GOLD

PRICE TURN EXACT FROM OUR GIVEN RESISTANCE=11750 AS DAYS HIGH=11744. Now good Resistance seen at 11750 & 11950 from where again correction expected. book profit on buy abv 11550, fresh buy only abv 11750 S/L 11720 and T/p 11800-810 upto 11900 OR sell below 11625 S/L 11655 and T/p 11585-530 upto 11450 where support seen again (any time close above 11750-11950/12680/12950/ 13550/13850 bullish while close below 11125 bearish for medium term)


SILVER


we book profit on buy abv 20000. continue to view as long Resistance of 20500 & 21725, down rally likely to continue. for the day buy only abv 20350 S/L 20300 and T/p 20425-500/ only sustain abv 20500 more upside expected OR sell below 20050 S/L 20140 and T/p 19975-900 upto 19775(any time close below 18900 bearish rally while close above 21900/22850/ 25000/26100/27250/28000 bullish for medium term)


CRUDE

Crude oil inventory schedule to release today PRICE TURN EXACT FROM OUR LEVEL ON BOTH SIDE. book profit on buy abv 5035, buy only abv 5120 S/L 5100 and T/p 5150/5210 OR sell below 4900 S/L 4925 and T/p 4865-45/20/ 4780-60/close below 4760 test 4630-50 atleast in coming days (now crude need to close above 5130/5475/ 5710/6375 for bullish rally while close below 4865/4760 bearish for medium term)

COPPER

for the day sell ard 332.2-332.5 S/L 333 and T/p 330.5/328.5 towards 323 in coming days OR sell below 328.5 S/L 330 and T/p 326/323-22 where support seen for today (upside strong rally only on close above 336.5/351/360.5/371/ 387.5/398 while close below 312/302/ 289/265/251.5/235 bearish for medium term)


MCXARUN
9994500540

GENERAL MARKET CONDITIONS

Gold rose as the dollar dropped on speculation a slumping U.S. economy will prevent the Federal Reserve from raising borrowing costs. Silver and other base metals followed gold. Once again the US dollar is the key to every thing. Historically the bear phase in August in gold and silver is always a buying opportunity while a bear phase in October implies a sustained one. This is August and one should use the sharp fall to invest.

Base metals, traders are taking positions on expectations that Chinese demand will re start after the Olympics are over and a weaker US dollar. Some of the base metals producers have started reducing production as prices have fallen to the top end of production cost. This has been done in order to prevent prices from further sell off.

At the moment, the rise in gold and silver is just a technical rise which if it continues can restart the short term bull phase in gold and silver. Long term bullishness in gold and silver remains intact. US weekly crude oil inventory will be the key. Gold rose as the dollar dropped on speculation a slumping U.S. economy will prevent the Federal Reserve from raising borrowing costs. Silver was little changed.

INTRA DAY TRADING STRATEGY.

· We will prefer to buy comex gold december around $810 and or over $832.

· Silver (comex September), will prefer to buy around $1306 and $1268 or over $1380.

· Copper (comex September) as long as $319 holds downside will be limited.

· Crude oil has to break $119.10-$122.40 zone for $125 and $128.

· COMEX GOLD DECEMBER

Resistance $810 now becomes the support while $845-$850 is the key resistance zone. Intra day gold has to fall below $810 for $800 and $788.

COMEX SILVER SEPTEMBER

A break of $1380 will result in $1510 and $1560. Key intra day support is at $1260.

COMEX COPPER SEPTEMBER

Copper has managed to hold $319 and will try to break $354 today.

NYMEX CRUDE OIL (1ST CONTRACT)

Crude oil has to break 117, else will trade in wider $109-$117 range.

MCXARUN
9994500540