GOLD
Continue to view as long Resistance of 14625 & 14675 more down side expected. for the day sell only below 14400 S/L 14450 and T/p 14375/Sustain below seen towards 14225-14150 in coming days OR sell ard 14660-670 S/L 14675 and T/p 14590-530, above 14675 avoid short sell (any time close above 14825-14975/15550/15960/16350 bullish while close below 14375/14100/13800 bearish for medium term)
SILVER
Continue to view as long Resistance of 21950 & 22200 down trend seen continue. for the day sell below 21600 S/L 21700 and T/p 21525-475/Sustain close below seen towards 21100-20900 in coming days OR sell ard 22020-30 S/L 22050 and T/p 21900-21800-21700 (any time close below 21475/20825/ 20250 bearish rally while close above 23000/24150/24725 bullish for medium term)
CRUDE
THIS WAS OUR VIEW IN REPORT Dt.1-7-2009 "Still Broad Range seen between 3510 & 3310 break will decide fresh direction" & SEE PRICE BREAK 3310 SAME DAY & SEE YESTERDAY LOW=3097. Continue to view as long Resistance of 3165/3200 & 3245 down trend seen continue. for the day sell below 3090 S/L 3110 and T/p 3070-3050 atleast/towards 2985 in coming days OR 3180-85 S/L 3190 and T/p 3165-3150 (now crude need to close above 3510 for bullish rally while close below 3095/2900/2800/2600 bearish for medium term)
COPPER
Still as long Resistance of 244 & 246.5 more down side expected. for the day sell below 241.5 S/L 243 and T/p 239.5/ 237.5/236.75/towards 233 OR sell ard 246.1-246.3 S/L 246.5 and T/p 245-243.5 (upside strong rally only on close above 251.25/258.5 while close below 232/214.5 bearish for medium term)
MCXARUN
9994500540
Tuesday, July 7, 2009
Crude Intraday Outlook
U.S. crude oil futures ended lower for the fourth day in a row on Monday as economic concerns reflected in dismal jobs data, tepid demand and rising fuel inventories pressured the oil markets. Last week, the Labor Department said U.S. employers cut 467,000 jobs in June, while the unemployment rate rose to 9.5 percent, the highest level since August 1983.
The Institute for Supply Management's services index rose to 47.0 last month from 44.0 in May, above economists' forecast.
But at the same time, Nigerian militants said they sabotaged a Chevron oil facility and seized a chemical tanker and six crew members. The Movement for the Emancipation of the Niger Delta said it attacked Chevron's facility on Sunday; hours after it sabotaged a Royal Dutch Shell operated oil well.
In a report, several U.S. buyers of Saudi crude told Reuters on Monday that Saudi Arabia plans to keep oil shipments to the U.S. unchanged in August.
In the last week, Oil dropped below $66.5 a barrel as unemployment data hardened views economic weakness would sap energy demand. In the latest sign the economy of the world's top consumer was still struggling, data on Thursday showed U.S. employers cut 467,000 jobs in June and the jobless rate rose to a 26-year high. Euro zone unemployment climbed to a 10-year high.
Report from JP Morgan on Friday also affected the oil prices .According to the report it expected oil prices to correct to about $60 a barrel or lower.
Weekly outlook (DWTI: July)
Supports are $ 64.95, $59.53and $56.12. Resistances are $70.60, $72.94 and $74.01.
DWTI (July) traded in the range $65.31-63.41 and closed at $64.05
TECHNICAL OUTLOOK (Intra-day)
DGCX Crude (July) - Bullish above $ 64.80 Bearish below $64.00
MCXARUN
9994500540
The Institute for Supply Management's services index rose to 47.0 last month from 44.0 in May, above economists' forecast.
But at the same time, Nigerian militants said they sabotaged a Chevron oil facility and seized a chemical tanker and six crew members. The Movement for the Emancipation of the Niger Delta said it attacked Chevron's facility on Sunday; hours after it sabotaged a Royal Dutch Shell operated oil well.
In a report, several U.S. buyers of Saudi crude told Reuters on Monday that Saudi Arabia plans to keep oil shipments to the U.S. unchanged in August.
In the last week, Oil dropped below $66.5 a barrel as unemployment data hardened views economic weakness would sap energy demand. In the latest sign the economy of the world's top consumer was still struggling, data on Thursday showed U.S. employers cut 467,000 jobs in June and the jobless rate rose to a 26-year high. Euro zone unemployment climbed to a 10-year high.
Report from JP Morgan on Friday also affected the oil prices .According to the report it expected oil prices to correct to about $60 a barrel or lower.
Weekly outlook (DWTI: July)
Supports are $ 64.95, $59.53and $56.12. Resistances are $70.60, $72.94 and $74.01.
DWTI (July) traded in the range $65.31-63.41 and closed at $64.05
TECHNICAL OUTLOOK (Intra-day)
DGCX Crude (July) - Bullish above $ 64.80 Bearish below $64.00
MCXARUN
9994500540
Gold Intraday Outlook
U.S. gold futures fell toward $920 an ounce yesterday as tumbling crude oil prices reinforced the view that inflation was nowhere imminent, weighing on bullion's appeal as a store of value.
U.S. crude oil futures ended lower for the fourth day in a row on Monday as economic concerns reflected in dismal jobs data, tepid demand and rising fuel inventories pressured the oil markets. Oil prices fell to a five-week low around $64 a barrel on doubts over a prompt recovery of the global economy, hurting gold's inflation hedge appeal.
India's gold imports in June were likely around 8 to 10 tonnes, down from 24 tonnes the same month a year ago - Bombay Bullion Association.
The Bombay Bullion Association said demand for gold and silver from India, the world's biggest bullion consumer, is likely to be pressured further this year by an increase in import duty in the budget for 2009/10. India's doubling of import duty on gold and silver is likely to encourage recycling of the metals locally in what could continue to keep imports subdued for the rest of this year also affected the bullion movements .
At the same time, the world's largest gold-backed exchange-traded fund, the SPDR Gold Trust, said holdings stood at 1,120.19 tonnes as of July 6, down 0.36 tonnes or 0.03 percent from the previous business day.
Holdings in the trust, which issues securities backed by physical stocks of gold, have declined in the past few weeks as growing optimism about the global economy sapped investors' appetite for bullion as a safe-haven asset.
Weekly Outlook (DG. Aug.)
Supports are $920, 912 and 900 Resistances are 948, 965 and 986
Last day DGCX Gold Aug Traded in the range $931.40-$920.60 and closed at $ 923.90
TECHNICAL OUTLOOK (Intra-day)
GOLD (Aug) - Bullish above $ 927 bearish below $920
MCXARUN
9994500540
U.S. crude oil futures ended lower for the fourth day in a row on Monday as economic concerns reflected in dismal jobs data, tepid demand and rising fuel inventories pressured the oil markets. Oil prices fell to a five-week low around $64 a barrel on doubts over a prompt recovery of the global economy, hurting gold's inflation hedge appeal.
India's gold imports in June were likely around 8 to 10 tonnes, down from 24 tonnes the same month a year ago - Bombay Bullion Association.
The Bombay Bullion Association said demand for gold and silver from India, the world's biggest bullion consumer, is likely to be pressured further this year by an increase in import duty in the budget for 2009/10. India's doubling of import duty on gold and silver is likely to encourage recycling of the metals locally in what could continue to keep imports subdued for the rest of this year also affected the bullion movements .
At the same time, the world's largest gold-backed exchange-traded fund, the SPDR Gold Trust, said holdings stood at 1,120.19 tonnes as of July 6, down 0.36 tonnes or 0.03 percent from the previous business day.
Holdings in the trust, which issues securities backed by physical stocks of gold, have declined in the past few weeks as growing optimism about the global economy sapped investors' appetite for bullion as a safe-haven asset.
Weekly Outlook (DG. Aug.)
Supports are $920, 912 and 900 Resistances are 948, 965 and 986
Last day DGCX Gold Aug Traded in the range $931.40-$920.60 and closed at $ 923.90
TECHNICAL OUTLOOK (Intra-day)
GOLD (Aug) - Bullish above $ 927 bearish below $920
MCXARUN
9994500540
Friday, July 3, 2009
safe trade calls
GOLD
As US market remain Closed today, Thin volatility expected and price seen in trading Range only. Continue to view as long Resistance of 14625 & 14675 more down side expected. for the day sell below 14400 S/L 14440 and T/p 14375/Sustain below seen towards 14225-14150 in coming days OR sell ard 14660-670 S/L 14675 and T/p 14590-530 (any time close above 14825-14975/ 15550/15960/16350 bullish while close below 14375/14100/ 13800 bearish for medium term)
SILVER
THIS WAS OUR VIEW IN REPORT Dt.26-6-09 "as long Resistance of 22700 & 22900 down trend seen continue" & SEE PRICE TURN FROM HIGH=22793 ON THAT DAY & SEE YESTERDAY LOW=21250. Continue to view as long Resistance of 21800 & 21900 down trend seen continue. book profit on sell below 21600, for the day sell only below 21250 S/L 21350 and T/p 21000/20900 OR sell ard 21770-780 S/L 21800 and T/p 21700-21600 (any time close below 21250/20700/19950 bearish rally while close above 22500/23350/24700 bullish for medium term)
CRUDE
Continue to view as long Resistance of 3335 down trend seen continue. book profit on sell below 3330/3290, fresh sell below 3215 S/L 3235 and T/p 3190-3150/towards 3050 atleast in coming weeks OR sell ard 3292-95 S/L 3300 and T/p 3270-3250 (now crude need to close above 3510 for bullish rally while close below 3215/3140/ 2900/2800/2600 bearish for medium term)
COPPER
Continue to view, expect range bounce movement between 239 & 251.25, break will seen sharp Rally. book profit on sell below 245, for the day sell below 243 S/L 244.5 and T/p 241.50-239.25/below towards 236.75-233 in coming days OR buy only abv 250.5 & more abv 251.25 S/L 249.5 and T/p 253.50/256.5/258 in coming days (upside strong rally only on close above 251.25/258.5 while close below 232/ 214.5 bearish for medium term)
MCXARUN
9994500540
As US market remain Closed today, Thin volatility expected and price seen in trading Range only. Continue to view as long Resistance of 14625 & 14675 more down side expected. for the day sell below 14400 S/L 14440 and T/p 14375/Sustain below seen towards 14225-14150 in coming days OR sell ard 14660-670 S/L 14675 and T/p 14590-530 (any time close above 14825-14975/ 15550/15960/16350 bullish while close below 14375/14100/ 13800 bearish for medium term)
SILVER
THIS WAS OUR VIEW IN REPORT Dt.26-6-09 "as long Resistance of 22700 & 22900 down trend seen continue" & SEE PRICE TURN FROM HIGH=22793 ON THAT DAY & SEE YESTERDAY LOW=21250. Continue to view as long Resistance of 21800 & 21900 down trend seen continue. book profit on sell below 21600, for the day sell only below 21250 S/L 21350 and T/p 21000/20900 OR sell ard 21770-780 S/L 21800 and T/p 21700-21600 (any time close below 21250/20700/19950 bearish rally while close above 22500/23350/24700 bullish for medium term)
CRUDE
Continue to view as long Resistance of 3335 down trend seen continue. book profit on sell below 3330/3290, fresh sell below 3215 S/L 3235 and T/p 3190-3150/towards 3050 atleast in coming weeks OR sell ard 3292-95 S/L 3300 and T/p 3270-3250 (now crude need to close above 3510 for bullish rally while close below 3215/3140/ 2900/2800/2600 bearish for medium term)
COPPER
Continue to view, expect range bounce movement between 239 & 251.25, break will seen sharp Rally. book profit on sell below 245, for the day sell below 243 S/L 244.5 and T/p 241.50-239.25/below towards 236.75-233 in coming days OR buy only abv 250.5 & more abv 251.25 S/L 249.5 and T/p 253.50/256.5/258 in coming days (upside strong rally only on close above 251.25/258.5 while close below 232/ 214.5 bearish for medium term)
MCXARUN
9994500540
Thursday, July 2, 2009
safe trade calls
GOLD
As US market remain Closed tomorrow (friday) Price seen in trading Range only. Continue to view as long Resistance of 14625 & 14675 more down side expected. for the day sell below 14475 S/L 14510 and T/p 14425-400-14375/Sustain below seen towards 14225-14150 in coming days OR sell ard 14660-670 S/L 14675 and T/p 14590-530 (any time close above 14825-14975/ 15550/15960/16350 bullish while close below 14375/14100/ 13800 bearish for medium term)
SILVER
THIS WAS OUR VIEW IN REPORT Dt.26-6-09 "as long Resistance of 22700 & 22900 down trend seen continue" & SEE PRICE TURN FROM HIGH=22793 ON THAT DAY & SEE YESTERDAY LOW=21630. Continue to view as long Resistance of 21900 & 22050 down trend seen continue. for the day sell only below 21600 S/L 21700 and T/p 21500-21450/Sustain Close below 21600 seen towards 21300 & 20900 in coming days OR sell ard 22070-22080 S/L 22100 and T/p 21900-21800 (any time close below 21600/ 20700/19950 bearish rally while close above 22500/23350/24700 bullish for medium term)
CRUDE
No expect down trend to continue with close below 3290-3250, book profit on sell below 3330, fresh sell below 3290 S/L 3320 and T/p 3260-50/Close below 3250 seen towards 3150-3050 atleast in coming weeks OR sell ard 3375-80 S/L 3385 and T/p 3350-3325 (now crude need to close above 3510 for bullish rally while close below 3255/3140/ 2900/2800/2600 bearish for medium term)
COPPER
Continue to view, expect range bounce movement between 239 & 251.25, break will seen sharp Rally. for the day sell below 245 S/L 246.5 and T/p 243.50-241.50-239.25/below towards 236.75-233 in coming days OR buy only abv 250.5 & more abv 251.25 S/L 249.5 and T/p 253.50/256.5/258 in coming days (upside strong rally only on close above 251.25/258.5 while close below 232/ 214.5 bearish for medium term)
MCXARUN
9994500540
As US market remain Closed tomorrow (friday) Price seen in trading Range only. Continue to view as long Resistance of 14625 & 14675 more down side expected. for the day sell below 14475 S/L 14510 and T/p 14425-400-14375/Sustain below seen towards 14225-14150 in coming days OR sell ard 14660-670 S/L 14675 and T/p 14590-530 (any time close above 14825-14975/ 15550/15960/16350 bullish while close below 14375/14100/ 13800 bearish for medium term)
SILVER
THIS WAS OUR VIEW IN REPORT Dt.26-6-09 "as long Resistance of 22700 & 22900 down trend seen continue" & SEE PRICE TURN FROM HIGH=22793 ON THAT DAY & SEE YESTERDAY LOW=21630. Continue to view as long Resistance of 21900 & 22050 down trend seen continue. for the day sell only below 21600 S/L 21700 and T/p 21500-21450/Sustain Close below 21600 seen towards 21300 & 20900 in coming days OR sell ard 22070-22080 S/L 22100 and T/p 21900-21800 (any time close below 21600/ 20700/19950 bearish rally while close above 22500/23350/24700 bullish for medium term)
CRUDE
No expect down trend to continue with close below 3290-3250, book profit on sell below 3330, fresh sell below 3290 S/L 3320 and T/p 3260-50/Close below 3250 seen towards 3150-3050 atleast in coming weeks OR sell ard 3375-80 S/L 3385 and T/p 3350-3325 (now crude need to close above 3510 for bullish rally while close below 3255/3140/ 2900/2800/2600 bearish for medium term)
COPPER
Continue to view, expect range bounce movement between 239 & 251.25, break will seen sharp Rally. for the day sell below 245 S/L 246.5 and T/p 243.50-241.50-239.25/below towards 236.75-233 in coming days OR buy only abv 250.5 & more abv 251.25 S/L 249.5 and T/p 253.50/256.5/258 in coming days (upside strong rally only on close above 251.25/258.5 while close below 232/ 214.5 bearish for medium term)
MCXARUN
9994500540
Tuesday, June 30, 2009
safe trade calls
GOLD
Now Xpect trading Range between 14450 & 14825, break will decide direction. for the day sell below 14550 S/L 14590 and T/p 14410-350/below 14350 seen towards 14225 & 14150 atleast in coming days OR buy only abv 14750 S/L 14710 and T/p 14785-14825/ Sustain abv towards 14975 in coming days (any time close above 14975/ 15550/15960/16350 bullish while close below 14375/14100/13800 bearish for medium term)
SILVER
Continue to view as long Resistance of 22625-22725 down trend seen continue. for the day sell below 22275 S/L 22370 and T/p 22175-22075/Close below seen towards 21650 in coming days OR sell ard 22670-680 S/L 22700 and T/p 22550-450, above 22730/22800 & 22875 avoid short sell & uprally likely (any time close below 22075/21625/20700/ 19950 bearish rally while close above 23350/ 24700 bullish for medium term)
CRUDE
Now Broad Range seen between 3510 & 3310 break will decide fresh direction. for the day buy only abv 3510 S/L 3475 and T/p 3535/Sustain close above 3510 seen towards 3625 atleast in coming days OR sell below 3415 S/L 3440 and T/p 3380-3360-3335-3310/below down Rally (now crude need to close above 3510 for bullish rally while close below 3310/3230/3140/2900/2800/2600 bearish for medium term)
COPPER
Continue to view expect Uprally to continue only with price break above 251.25. for the day buy abv 250.5 & more above 251.25 S/L 249 and T/p 253.5-256.5-258.5 in coming days OR sell only below 245.5 S/L 246.6 and T/p 243-242/sustain below towards 236.75-233 in coming days (upside strong rally only on close above 258.5 while close below 232/214.5 bearish for medium term)
MCXARUN
9994500540
Now Xpect trading Range between 14450 & 14825, break will decide direction. for the day sell below 14550 S/L 14590 and T/p 14410-350/below 14350 seen towards 14225 & 14150 atleast in coming days OR buy only abv 14750 S/L 14710 and T/p 14785-14825/ Sustain abv towards 14975 in coming days (any time close above 14975/ 15550/15960/16350 bullish while close below 14375/14100/13800 bearish for medium term)
SILVER
Continue to view as long Resistance of 22625-22725 down trend seen continue. for the day sell below 22275 S/L 22370 and T/p 22175-22075/Close below seen towards 21650 in coming days OR sell ard 22670-680 S/L 22700 and T/p 22550-450, above 22730/22800 & 22875 avoid short sell & uprally likely (any time close below 22075/21625/20700/ 19950 bearish rally while close above 23350/ 24700 bullish for medium term)
CRUDE
Now Broad Range seen between 3510 & 3310 break will decide fresh direction. for the day buy only abv 3510 S/L 3475 and T/p 3535/Sustain close above 3510 seen towards 3625 atleast in coming days OR sell below 3415 S/L 3440 and T/p 3380-3360-3335-3310/below down Rally (now crude need to close above 3510 for bullish rally while close below 3310/3230/3140/2900/2800/2600 bearish for medium term)
COPPER
Continue to view expect Uprally to continue only with price break above 251.25. for the day buy abv 250.5 & more above 251.25 S/L 249 and T/p 253.5-256.5-258.5 in coming days OR sell only below 245.5 S/L 246.6 and T/p 243-242/sustain below towards 236.75-233 in coming days (upside strong rally only on close above 258.5 while close below 232/214.5 bearish for medium term)
MCXARUN
9994500540
Friday, June 26, 2009
safe trade calls
GOLD
Now Xpect trading Range between 14450 & 14825, break will decide direction. for the day buy abv 14705 S/L 14670 and T/p 14740-780-14825/ Sustain abv towards 14975 in coming days OR sell below 14610 S/L 14645 and T/p 14570-520/14470-410-350/ below 14350 seen towards 14225 & 14150 atleast in coming days (any time close above 14975/15550/15960/16350 bullish while close below 14375/14100/ 13800 bearish for medium term)
SILVER
Continue to view as long Resistance of 22700 & 22900 down trend seen continue. for the day sell below 22500 S/L 22570 and T/p 22425-365-250-22075/Close below seen towards 21650 in coming days OR sell ard 22870-880 S/L 22900 and T/p 22775-22650 (any time close below 22075/21625/20700/ 19950 bearish rally while close above 23350/ 24700 bullish for medium term)
CRUDE
Still as long Resistance of 3475 again down side expected. for the day sell below 3390 S/L 3412 and T/p 3360-45-20/Close below expect towards 3150-3050 in coming week OR sell ard 3465-70 S/L 3475 and T/p 3435-20-3390, abv 3475 & 3510 avoid short sell & uptrend likely (now crude need to close above 3510 for bullish rally while close below 3230/3140/2900/2800/2600 bearish for medium term)
COPPER
PRICE TURN EXACT FROM OUR GIVEN SUPPORT1-240 AS DAYS LOW=240.15 Now expect Uprally to continue only with price break above 249.25. for the day buy only abv 249.25 S/L 247.5 and T/p 252-255-257/Close above 257 seen towards 270 in coming days OR sell only below 245 S/L 246.5 and T/p 243.25-241-240/below down rally (upside strong rally only on close above 257 while close below 229.75/ 221/212.5/199/182 bearish for medium term)
MCXARUN
9994500540
Now Xpect trading Range between 14450 & 14825, break will decide direction. for the day buy abv 14705 S/L 14670 and T/p 14740-780-14825/ Sustain abv towards 14975 in coming days OR sell below 14610 S/L 14645 and T/p 14570-520/14470-410-350/ below 14350 seen towards 14225 & 14150 atleast in coming days (any time close above 14975/15550/15960/16350 bullish while close below 14375/14100/ 13800 bearish for medium term)
SILVER
Continue to view as long Resistance of 22700 & 22900 down trend seen continue. for the day sell below 22500 S/L 22570 and T/p 22425-365-250-22075/Close below seen towards 21650 in coming days OR sell ard 22870-880 S/L 22900 and T/p 22775-22650 (any time close below 22075/21625/20700/ 19950 bearish rally while close above 23350/ 24700 bullish for medium term)
CRUDE
Still as long Resistance of 3475 again down side expected. for the day sell below 3390 S/L 3412 and T/p 3360-45-20/Close below expect towards 3150-3050 in coming week OR sell ard 3465-70 S/L 3475 and T/p 3435-20-3390, abv 3475 & 3510 avoid short sell & uptrend likely (now crude need to close above 3510 for bullish rally while close below 3230/3140/2900/2800/2600 bearish for medium term)
COPPER
PRICE TURN EXACT FROM OUR GIVEN SUPPORT1-240 AS DAYS LOW=240.15 Now expect Uprally to continue only with price break above 249.25. for the day buy only abv 249.25 S/L 247.5 and T/p 252-255-257/Close above 257 seen towards 270 in coming days OR sell only below 245 S/L 246.5 and T/p 243.25-241-240/below down rally (upside strong rally only on close above 257 while close below 229.75/ 221/212.5/199/182 bearish for medium term)
MCXARUN
9994500540
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