Metal Buzz - Daily 22-07-2009

Metals Buzz-Daily

                                                    Wednesday, July 22nd, 2009 

Bullions    Commodity 

Close 

+/‐ Change 

Comex Gold 

$ 946.90 

‐1.90 

Comex  Silver 

$ 13.625 

+0.222 

MCX Gold  

Rs. 14869 

‐ 

MCX Silver  

Rs. 22178 

‐ 

Bullions News and Technical Outllook  India August MCX gold contract likely to open up on firm international  spot gold, but strong INR may limit some gains,; We expect contract  to  open  around  INR14,880/10  grams  and  trade  in  INR14,780‐ INR14,940 band today. Last ended up 0.1% at INR14,869.    MCX Gold August Chart is Forming Doji candle stick. 

      Trend Analysis   Short term 

Bearish 

Medium term 

Bearish 

Long term 

Bullish 

Gold  Chart   

  Resistance and Support Level(Gold)  Resistance 1 

15000 

Resistance 2 

14988 

Resistance 3 

14920 

Support 1 

14780 

Support 2 

14679 

Support 3 

14641 

Resistance and Support Level(Silver)  Resistance 1 

22657 

Resistance 2 

22404 

Resistance 3 

22350 

Support 1 

21950 

Support 2 

21770 

Support 3 

21666 

 

           Recommendations   MCX Gold August (Pre. Close 14869): Sell 14860 Strict SL 14888,    Targets  14800.   

   

 

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Metals Buzz-Daily

Base Metals   

Commodity 

Close 

+/‐ Change 

MCX Copper  

260.55 

‐ 

MCX Zinc  

78.00 

‐ 

MCX Nickel  

764.20 

‐ 

MCX Aluminum  

81.75 

‐ 

MCX Lead  

79.80 

‐ 

NCDEX Steel  

20950 

‐ 

Base Metals News and Technical Outllook  Base  metals  mixed,  gold  hovering  around  little  changed  levels.  Industrial  metals  fall  back  from  early  gains  as  equity  markets  ease,  USD  rises  following  comments  from  Fed  Bernanke.  In  testimony  to  U.S.  Congress,  Bernanke  reaffirms  Fed  won't  start  tightening  monetary policy any time soon, signaling to investors fragility of U.S.  economic recovery. 

   

MCX Nickel Daily chart is forming a Bearish candle stick.  Trend Analysis  (Base Metals)  Short term 

Bearish 

Medium term 

Bullish 

Long term 

Bullish 

 

  Nickel Chart   

Resistance and Support Level(Copper)  Resistance 1 

270 

Resistance 2 

267 

Resistance 3 

264 

Support 1 

258 

Support 2 

253 

Support 3 

250 

Resistance and Support Level (Nickle)  Resistance 1 

803 

Resistance 2 

795 

Resistance 3 

786 

Support 1 

768 

Support 2 

759 

Support 3 

750 

Resistance and Support Level (Lead)  Resistance 1 

86.00 

Resistance 2 

83.90 

Resistance 3 

82.45 

Support 1 

78.80 

Support 2 

76.60 

Support 3 

75.15 

                Generating Wealth. Satisfying Investors.

          Recommendations    MCX Nickel July (Pre. Close 764.20): Sell Below 772‐770 Strict SL 780,     Target 750. 

 

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Metals Buzz-Daily

Energies     

Commodity 

Close 

+/‐ Change 

NYMEX Crude Oil 

$ 65.61 

+0.32 

MCX Crude oil 

Rs. 3162 

‐ 

NYMEX Natural Gas 

$ 3.705 

+0.016 

Rs. 186.90 

‐ 

MCX Natural gas 

    Trend Analysis  (Energies)  Short term 

Bearish 

Medium term 

Bullish 

Long term 

Bullish 

  Resistance and Support Level(Crude oil)  Resistance 1 

3315 

Resistance 2 

3239 

Resistance 3 

3194 

Support 1 

3073 

Support 2 

2997 

Support 3 

2952 

Energies News and Technical Outllook  The Organization of Petroleum Exporting Countries pegged the value of  its reference basket of 12 crude oils at $64.64 a barrel Monday, up $1.41  from $63.23 a barrel set Friday, OPEC said Tuesday.  OPEC's basket of 12  oils consists of Saharan Blend, Girassol, Oriente, Iran Heavy, Basra Light,  Kuwait Export, Es Sider, Bonny Light, Qatar Marine, Arab Light, Murban  and Merey.       MCX Crude oil Formed Bearish Doji candle stick pattern.   

Crude oil Chart                    

Resistance and Support Level(Natural Gas)  Resistance 1 

203 

Resistance 2 

197 

Resistance 3 

193 

Support 1 

183 

Support 2 

177 

Support 3 

172 

 

Recommendations   No recommendations               

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Metals Buzz-Daily

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