Weekly Technical outlook

Crude oil Nymex : Crude oil Faced stiff Resistance near the previous Double top of 73.46 in week after Rising From the Short term bottom Formed in the week at 68.71$ . Falling to Cross the previous Resistance Crude oil fell Down Sharply on last trading Session to close at 67.47 $ breaching the short term bottom of 68.71$ , Which clearly Signals weakness and suggesting that it is again going down to test the next Short term Support at 63.45 $ & later the medium term support at 58.32$. on the upside crude oil will Now Face Stiff resistance at 68.71 $( Support becoming Resistance) & later on at 70.05 $ and 72.85$

Looking at Daily Charts indicators the MACD has clearly given a Sell Sign turning Downward and suggesting that crude oil could be heading for the intermediate target of 62.05$ in the following week. Stochastic oscillator@ 73 Now Suggesting that uptrend is Now capped & crude oil could get into a Sideways consolidation or slowly Drift Downwards

Looking at the Larger picture the weekly charts are clearly suggesting that the rise From medium term lows of 33.26 $ to 73.46$ is Over and the Next leg of Consolidation & downward journey has Started and re opening the possibilities of Re-test Of medium term Supports at 58$ below Which 55 $ and Finally 48.56 $ possible . On the Upside 73.46 $ previous week's top (yes dbl top) will be a Stiff Resistance to Cross and above the upward journey will face resistance at fib levels of complete move From 147$ to 33 $ . giving Resistance at 76.7$ (38.2 %) & 90.4 $ (50%) . A Close above Same Would mean that medium term correction is Over and possible of sharp reversal in price will start Factoring in


MCX Crude oil : MCX crude oil felt down 4.5 % on first day of New Contract following Global prices. Multiple tops Have been at 3567 Levels and The last two days Clearing signally a trend reversal with a Shooting star at top and follow up Sell off Closing Finally at 3382
Mix Crude oil in short term Will find support at 3279 & 3173 ( short term bottom). MCX crude could Find support 3325 in the Following A trend . A Close Only above 3510 Would indicate the Correction is Over and Final Could again re test the Short term Resistance at 3567 . A Strong Move Above Same with volumes Would Indicate that a New leg of Fresh up Move Has started opening upside Possible targets of 3640--3730

NYMEX Natural Gas : Natural gas after making a new yearly Low at 3.150 bounced back to close at 3.277 with little profit Booking Setting in From Shorts over The week in the last hour of the trade. NG Closed more than 11.5 % Down for the week

Looking at the Daily charts it clearly indicates that still lot of weakness is left and the again a breach of short term support at 3.150 & 3.255 Could open the Next possible target of the psychological level of 3.00 $. A few session trading below same would Indicate that the ones playing for the seasonal long on Natural gas Which generally starts From July to December Also start unwinding positions and as no new fresh buyers Would Set in Could put severe pressure on prices opening the Downside possible target of 2.68$. On upside 3.42$ will be a Strong resistance in the short term & a piercing Close Above Same would Indicate the short term Consolidation which is going on in form a triangle is Still going on could Re open upside target of 4$ again

Looking at the indicators the MACD & RSI are almost nearing oversold zone and a bounce back again cant be ruled out. The stochastic oscillator is at lowest support levels indicating can reverse Soon if the prices stay afloat above 3.42 $ zone Levels. The Overall trend hence looks weak if NG continues to trade below the support of 3.25 and if Mange’s to trade above Same would Mean that Sideways consolidation is still going on and retest of 4$ cant be ruled out ..

MCX Natural gas : MCX natural gas mange to Stay above the Crucial support level of 158 , Indicating little bit strength . A Breach of Same Would open downside targets of 152 and 135 as first target . On upside natural gas Will Find Strong Resistance at 174 & 188 levels a close Above Same Would mean that the short term trend has turned Bullish opening upside target of 229.

Technical view 140809

MCX Gold : Gold traded sideways with little gains as indicated yersterday , we Still hold same view till time its trading below 15050 , it remains Same Sell on sell rise, Immediate Reistance to gold is Seen at 14980 & 15050 . A Closing above Same Would reverse the trend
Trend Analysis : Range bound ^ Sideways

Comex Gold : Currently trading Near crucial level of 955 $ , abv 962 Would make intraday bias as neutral and above 972 $ would change The trend to Postive. till than Sell on Rise For Possible lower targets of 920 $
Trend Analysis : Range bound

MCX Silver : Silver moved up above the crucial Resistance of 23980, a Breach below Same Would Indicate that bias has turned netural for the Day and shorts Can be attempted For Downside targets of 23300
Trend Analysis : Neutral to bearish

Comex silver : Silver Crossed crucial reistance of 1500 , but is findind it diffuclt to move the past the next intermediate resitance of 1532, a Breach below 1488 would again open Downside targets til l1430
Trend Analysis : neutral to bearish

Energies
MCX Crudeoil : Last Day For teh August Contract Expecting volatility and range bound trade between 3368--3442 on upside


NYMEX Crudeoil : Crude Re tested the Recent Resistance of 7346and failled to Cross again , and Falling down to 7200 levels, Making it a Case of triple top If closes Below 69.45$. Supports seen at 7225--7185--7046. A Close 7346 Would open trgts til 7680 7990
Trend Analysis : Sideways to upside

MCX Natural gas : As Indiacted yesterday that trend is down adn could further see Selling pressure if breaks 168, NG closed below the crucial Support of 168 opening downside trgts till 154. A retest of Resiatnce at 168 Cant Be rulled out
Trend analysis : Downward

Natural Gas : NG has been Trading inside a parallel Range Since last few Days , Break on any Side Could give a Fresh Move on any side , On upside 4.200 is very Importnat Reistance a Close above Same would Mean that the trend has Reversed and Now its Buy on Dips opening as upside trgt of 5.40$ and 7$ For Medium term As If Now . On Downisde Supports are near 3.882$--3.460--3.165$ , A close below 3.165 % would Mean that the correction is still on and Could try hit the new Possible Downside trgt of 2.41$


Base Metals

Commdity S1 S2 R1 R2 Pivot
Copper 306 304 310 313 306
Nickel 992 998 1014 1028 1007
LEad 90 90.1 91.85 92.4 91.85
Zinc 90.25 90.8 91.65 92 91.25

MCX Copper Technical Analysis 13th August 2009

Technical View 130809

MCX Gold : Gold traded on upside with Least gains among all commodity , the view Still remains Same Sell on sell rise, Immediate Reistance to gold is Seen at 14980 & 15050 . A Closing above Same Would reverse the trend
Trend Analysis : Range bound

Comex Gold : Currently trading Near crucial level of 955 $ , abv 962 Would make intraday bias as neutral and above 972 $ would change The trend to Postive. till than Sell on Rise For Possible lower targets of 920 $
Trend Analysis : Range bound

MCX Silver : Silver moved up above the crucial Resistance of 23092 as given in Yesterday post and achived next target of 23400, Above 23550 Would open upside targets of 23800 & 24150
Trend Analysis : Bullish

Comex silver : Silver Crossed crucial reistance of 1500 and is headed for next Possible target of 1560 with intermediate resistance Seen at 1523. Trend Reversal seen if manges to close below 1460
Trend Analysis : Bullish

Energies
MCX Crudeoil : Crudeoil is trading above the crucial Resistance of 3432 , A close abv same would open upside Possible targets of 3510-3555
Trend Analysis : Range Bound

NYMEX Crudeoil : above 7145 Crude oil could try test the Nest resistance level of 72.6. Multiple Resistance is Seen between 72.6 & 73.40 . A Close above Same would mean opening Next possibel upside target of 75.60--78.3
Range 72.05 $ --69.00 $ ( Break of any side Fresh Move Expected)
Trend Analysis : Range Bound

MCX Natural gas : Strong Support near 168 below Which Can open trgts as low as 152 .
On the upside has Strong Resistance at 178—181-188 Levls . till time trading below 178 trend is Downwards with risk of 168 to be broken anytime . Above 178 trend neutral and Above 192 Trend Bullish
Trend analysis : Near Supports/ Downward

Natural Gas : NG has been Trading inside a parallel Range Since last few Days , Break on any Side Could give a Fresh Move on any side , On upside 4.200 is very Importnat Reistance a Close above Same would Mean that the trend has Reversed and Now its Buy on Dips opening as upside trgt of 5.40$ and 7$ For Medium term As If Now . On Downisde Supports are near 3.882$--3.460--3.165$ , A close below 3.165 % would Mean that the correction is still on and Could try hit the new Possible Downside trgt of 2.41$

Base metals levels

CommdityS1 S2 R1 R2 Pivot
Copper 304 299.5 304.7 309 302.8
Nickel 912 927.5 976 1024 963
Lead 89.2 89.75 91.1 92.5 90
zinc 88.30 90.05 91.65 92.85 90.35

Technical view 120809

MCX Gold October
Gold Resistance at 14850—14925 levels One Can Use this Levels to Create Fresh Shorts With SL around 15050 lvls For Possible trgts of 14500 Lvls
Trend : Sideways to Down . Reversal Level 15050 Closing basis

Comex Gold : Gold trading below the crucial Support of 955$ . Resistance at 962$ -965 $
Sell On Rise Recommend with SL closing basis 972 $. On Downside will Re test 920$ -904$ support

MCX silver October:
Silver Finding Support near 22800 levels, below which Can Retest 22500 & 22300 levels
On upside has Important Reistance at 23092 Above which can again do 23250—23400
Trend analysis – Up/sideways

Comex Silver :
Silver has good Support Near 14.02 $ , on upside Faces resistance near 14.47$ & 14.61 $
A Firm close For two-three Trading Sessiaon abv 14.68$ can open upside target of 15.35$
Trend Analysis – up/sideways

Energies
MCX Crude Oil : MCX crude Oil till time trading below 3430 is sell on Rise with Immediate Supports coming on Downside at 3353 & 3318 Levels , On Upside 3452—3470—3510 are important resistance Levels
Nymex Crude : Trading below the Crucial Level of 71.45 $ opens a re test of 67$ on downside . On upside Important Resistance at 71.45$--72.05$--73.5$ .
Trend analysis : Sideways/downward
Range 72.05 $ --69.00 $ ( Break of any side Fresh Move Expected)

Natural Gas : NG has been Trading inside a parallel Range Since last few Days , Break on any Side Could give a Fresh Move on any side , On upside 4.200 is very Importnat Reistance a Close above Same would Mean that the trend has Reversed and Now its Buy on Dips opening as upside trgt of 5.40$ and 7$ For Medium term As If Now . On Downisde Supports are near 3.882$--3.460--3.165$ , A close below 3.165 % would Mean that the correction is still on and Could try hit the new Possible Downside trgt of 2.41$


Natural Gas MCX : Strong Support near 168 below Which Can open trgts as low as 152 .
On the upside has Strong Resistance at 178—181-188 Levls . till time trading below 178 trend is Downwards with risk of 168 to be broken anytime . Above 178 trend neutral and Above 192 Trend Bullish
Trend analysis : Near Supports/ Downward

Base metals levels



Commdity S1 S2 R1 R2 Pivot
Copper 288.5 290.1 292.5 294.8 291.65
Nickel 916 932 948 966 927.5
Lead 84.8 85.4 86.05 86.5 85.65
zinc 85.4 86.05 86.6 87.4 86.2

Natural Gas Technical Analysis 6th Aug2009

NG has been Trading inside a parallel Range Since last few Days , Break on any Side Could give a Fresh Move on any side , On upside 4.200 is very Importnat Reistance a Close above Same would Mean that the trend has Reversed and Now its Buy on Dips opening as upside trgt of 5.40$ and 7$ For Medium term As If Now . On Downisde Supports are near 3.882$--3.460--3.165$ , A close below 3.165 % would Mean that the correction is still on and Could try hit the new Possible Downside trgt of 2.41$

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Gold Technical Analysis 4th August 2009

Gold breaking out of Inverted head & Shoulder With Height of nearly 44$, Which Opens an upside from 965 $ to 1009$ , With intermediate Resisatnce at 980$--992$--1004 $ , Long traders can maintain SL below 955 $ closing basis

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Crude Technical Analysis 30th July 2009

Crude oil technical Analysis 29thjuly2009

Crude Oil has Broken the Coorective trend Line , Which started From recent lows of 58$ extended to 68.87$, On upside Now will face Stiff Resistance at 67.86$ , Next Support Seen at 64.4 $ , Below Which Could Open trgts as Low as 62.4 $

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Silver Technical Analysis 29th july 2009