On the domestic front, Silver traded lower in future trade yesterday as speculators booked profits after recent gains amid weakening global trend. At MCX future, Silver for March contract closed at Rs 45737.00, against previous close price of Rs 45,863.00 and Silver for May contract closed at Rs 46339.00, against previous close price of Rs 46,425.00.
COMEX GOLD: - Daily stochastic have risen into overbought territory which will trend to support reversal action if it occurs. The market's short-term trend is positive on the close at mid support level. The daily closing price reversal down puts the market on the defensive. The market tilt is slightly negative with the close under the mid trend level. The near-term upside target is at 1372.8$ The next area of resistance is around 1382.4$ and 1372.8, below maintain 1356$ below while 1st support hits at 1343.7 and below there at 1331.3$ and 1318.10$ it will come at soon.........
SILVER : High volatility ----Last week saw 700 to 1000 movement in either side. On a technical front we may consider resistance 46000-46200 and support 45000, break of this range will move in either side. Down side support 45300 watch, decisively break will move down side.
This counter chart a candlestick show consolidation showing at confused trend 45000.0 level above shortly up trend in this counter and up side resistance at 46650.0 level and up side 46100.0 46600.0 level below maintain so sell at up side because this time overbought at this counter and 1time heavy correction due in this counter and 45000.0 level below touch at 43800.0 level in coming trading days ........
LEAD : Trend is continue bullish and it was closed highest weekly closing. As remain hold 115 level in near term.. decline to buying opportunity.
This counter last trading session closed at 118.90 level below a candlestick formation a confirm sell signal and maintain at short position at 119.50 level below 117.00 and this level below 115.0 and 111.0 level again touch and long term 104.50 and 98.70 level touch at this counter in coming trading days......
NICKEL : Trend is still bullish... as remain hold 1275-1250 level... Higher level resistance 1311-1319-1326 to be watch out... on reversal to sell side.......
This counter bullish trend in this counter and 1251.00 level above chart show at bullish trend in this counter and again 1275.00 level above maintain up trend in this counter and up side touch at 1320.00 level and 1345.0 level in coming trading days so 1251.00 level above buy position maintain ...........
COPPER: We are bullish in this commodity for the last two months..... Now consider support 450 and resistance 465............break out this range looks one side opportunity. Remember in LME copper price are trading in all time high.. i.e. above US $ 10000 per ton......
This counter last trading session 2way moment in this counter and up side 461.0 level below shortly down trend in this counter and this level below low side touch at 451.50 level and 445.0 level in coming trading days buy at only 461.0 above only up side strong resistance at 473.50 level in market ...........
CRUDE: Egypt problem solved time being and saw some profit booking at higher level.. Now resistance 3980-4000, down side support exit 3875... in near term. On rise to sell.....
This counter showing at weakness and sell at only rise up side resistance at 4020.0 and break above strong resistance at 4050.0 and 3965.0 level below maintain sell side entry in best and low side 3840.0 and 3770.0 level confirm touch and break below 3700.0 level strong support level in market.........
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