Showing posts with label MCX Supports Resistance Levels. Show all posts
Showing posts with label MCX Supports Resistance Levels. Show all posts

Tuesday, October 2, 2012

Copper medium term view

Copper Medium term view LME : Cmp 8350

A)     Pattern view: Possible Head & shoulder with a small head & shoulder In right Shoulder – A bearish pattern starting to Unfold

Copper has been forming a head Shoulder pattern on weekly charts With left shoulder formed between July2009--Jun2010
And Head Formation From june 2010-- Sep2011
 & right Shoulder From Sep2011 to current away , Interesting to Know is each Shoulder--head-shoulder has roughly taken anywhere between 50-54 weeks interesting on time cycle  with The neck Line at  6800
Looking at short term charts the right shoulder is also Developing into a smaller head & shoulder pattern With each time taking of roughly 16 weeks The Neckline is Currently at 7500 and immediate upside Resistance is at 8600
So till weekly prices Are not able to Close above 8600 levels and We See a Fall back below 7300 , first The bearish indications will play for downside targets of 6400 level , Which would be Roughly near the Neckline of The larger head & shoulder

The wave counts also Suggest that we are in corrective down trend in medium term with the larger C wave starting to Unfold with Possible targets of 6200, To see Complete wave counts  plz find attached chart

Hence on upside the potential upside as if now is range of 4-10 % with many important resistance on the way and probabilities of heading down for a correction of 25 + % is getting higher in next  12—18 Months

The above reco would be negated if we have a Weekly close above 9200 Lme

Monday, June 27, 2011

Daily Trading Levels , MCX Supports And Resistance , Commodities , Base Metals


Copper : Trend Sideways - Range Bound - 
Important Resistance 411-412 ,Close above same one can expect levels of 419-420.
On downside 398-399 Important Support range. Below which we can test 385/390
Levels on upside   405-408.5-411-413

Lead : Trend Up
Lead reverses from major resistance zone given earlier  Major Resistance zone remains at 116-116.5
Sustained move above 116-116.5 can do 118.5-119 on upside
On downside 112.5-113 support for intraday.. 107.5-108 Major Support range for the comm

Zinc : Trend Slightly Bullish
Zinc reverses from major resistance zone given earlier  Major Resistance zone remains at 116-116.5 
ABove 101.5 if sustains then may do 103-103.5
MInor Support at 98-98.5. On downside 95-95.5 Important Support range

Nickel : Trend Sideways 
Important Support near 955-960 Levels , Major Resistance zone 1000-1005 on Upside
Nickel buy above 1000-1005 range with stop of 990, can do 1035/1040 on upside 
Trend Reversal if it closes above 1010.. Levels on downside 980-960-950

Sunday, April 24, 2011

Mcx trading Levels For Day

Support & Resistance For The day

Gold 21835--21960-22040-22210-22333-22486

Silver 68300-69180--70400--71650

Copper 428.6-435--439-442-445
Lead 115.4--116.8-118.2-199.6-121
Zinc  102.4--103.6-105-106.6-108
Nickel 1188-1210-1234-1252--1284

Crude Oil 4850-4934-5010-5160-5240
Natural gas 192.5-195.6-197-200.4-204

Wednesday, March 23, 2011

#copper , #gold , #silver Trading Levels For short term

Copper (MCX) Looks Strong -- till time prices holding the Key Level of 430 --- One Can expect An Further upside till 442--445--449  , Downside Below 430 Support at 426.5 ---410

Gold  & silver Faceing Resistance near Previous week's high on Comex , a Sustained trade Above Same Can Push prices Further up on Gold till 1447$ --1465 $--1489 $ and on Silver 36.5 $---37.2 $--38.4$
On downside Important Support on Gold now at 1415 $ & silver 35.2 $

Monday, June 7, 2010

MCX Supports Resistance Levels

Comex Gold : Trend Sideways Consolidation - Range Bound
Range: 1190--1220
Resistance Levels : 1220--1128-1236
Supports: 1190-1196-1204-1212

MCX gold : Double top @ 18850
Trend : Trend Sideways Consolidation - Range Bound
Resistance :18700-18850
Support: 18250-18333-18514

Comex Silver : Important Support at 17$
Trend : neutral
Trend Reversal levels 17.64 $
Trading levels : 1700-1717-1733-1741-1764

MCX Silver : Trend Sideways to Consolidation
Trend Reversal Bullish only abv 28700
Important Support at 27900 Below that weak
Trading levels : 27900-28050-28130-28264-28490-28700

Nymex Crude : Trend Buy on Dips
Trading Levls : 69.4-70.15-71.4-72.6
Important Resistance - 71.4 Above that Expect some short covering till 72.6

MCX crude : Trend Buy on Dips
Trading levels : 3340-3368-3391-3410
Important Resistance : 3410


Copper : Trend Weak - Important Resistance 298 ,Close above same one can Expect Trend Reversal.
On downside 281 Important Support

Lead : Trend Weak - Highly oversold
Expecting Some value buying at lower levels Near 72-73 Zone , Resistance at 75 above which can expect Some short covering till 77.35
Trading levels : 72.5-73.4-74.6-75.3-76-77.35

Zinc : Trend Weak - Highly oversold
Expecting Some value buying at lower levels Near 75, Resistance at 76.8 Above which Can Expect Short covering till 79.8 levels
Trading levels: 75.3-76.1-76.8-78.4-79.8

Nickel : Trend weak - Oversold
Important Support near 800- 821 Levels , One Can look to Take Longs near those levels With Sl below 790 for Trading bounce back till 875 levels
Trading levels - 800-821-838-844-861-874-891