SILVER UPDATES

silverupdates MCX Silver December as seen in the weekly chart above has opened the week at 55,188 levels initially moved sharply higher
but found very good resistance at 59,598 levels. Later prices fell sharply towards 53,351 levels and finally closed lower from
the previous weeks closing levels.
For the next week we expect silver prices to find Resistance in the range of 55,900 – 56,000 levels. Trading consistently
above 56,150 levels would lead towards the strong Resistance at 58,490 levels and then finally towards the major
Resistance at 62,170 levels.
Support is now observed in the range of 52,400-52,300 levels. Trading consistently below 52,200 levels would lead towards
the strong support at 49,740 levels, and then finally towards the Major support at 48,427 levels.
MCX / Spot Silver Trading levels for the week
Trend: Down
S1-52,400 / $ 23.04 R1-55,950 / $ 24.54
S2-49,740 / $ 22.26 R2-58,490 / $25.26
Weekly Recommendation: Sell MCX Silver December between 55,900-56,000, SL-57,401, Target -52,400
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MCX GOLD UPDATES FOR WEEKLY

MCX Gold October as seen in the weekly chart above has opened at 32,815 levels initially moved sharply higher, but found
very good resistance at 34,549 levels. Later prices fell sharply towards 31,564 levels and finally closed sharply lower from
the previous weeks closing levels.
For the next week we expect gold prices to find Resistance in the range of 32,650 – 32,700 levels. Trading consistently above
32,750 levels would lead towards the strong Resistance at 33,750 levels and then finally towards the major Resistance at
35,643 levels.
Strong Support is now observed in the range of 30,850-30,750 levels. Multiple closing below 30750 levels or Trading
consistently below 30,650 levels would trigger an extended fall initially towards 29,670 levels, and then finally towards the
Major support at 28,700 levels.
MCX / Spot Gold Trading levels for the week
Trend: Down
S1-30,800/ $ 1360 R1-32,650 / $ 1418
S2-29,670 / $ 1330 R2-33,750 / $ 1446
Weekly Recommendation: Sell MCX Gold October between 32,650-32,700, SL-33,250, Target -30,900. 

silver updates for today

intraday Strategy: Sell MCX Sept Lead between 142.50 - 143, SL –
144, Target – 140/ 139.50


Intraday Strategy: Sell MCX Sept Crude Oil between 7190 – 7200,
SL – 7280, Target – 7060 / 7050 i

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MCX TIPS Commodity Exchange Contract Trend S2 S1 LTP R1 R2
Bullions
Gold MCX Oct Down 32200 32400 32604 32900 33200
Spot Gold Sideways 1376 1384 1393 1406 1418
Silver MCX Dec Down 53900 54400 54990 55400 55900
Spot Silver Sideways 22.90 23.20 23.44 23.60 23.90
Base Metals
LME Copper Sideways 7015 7099 7183 7240 7296
Copper MCX Nov Down 474 478 483.7 487 492
Zinc MCX Sept Sideways 121.00 122.00 123.40 124.50 125.50
Lead MCX Sept Down 139.00 140.00 141.65 142.50 144.00
Aluminium MCX Sept Down 115.00 116.00 117.25 118.50 119.80
Nickel MCX Sept Down 894 902 910.2 917 925
Energy
Crude Oil MCX Sept Down 7000 7060 7127 7200 7280
Crude Oil NYMEX Oct Sideways 105.50 106.40 107.44 108.50 109.75
Brent Crude Oil MCX Sept Down 7600 7660 7728 7800 7880
Brent Crude Oil NYMEX Oct Sideways 113.20 114.10 115.10 116.10 117.30
Natural Gas MCX Sept Sideways 238 241 244.1 247 250 

gold updates for 2/9/2013

MCX Gold October as seen in the weekly chart above has opened at 31,806 levels, initially made a low of 31,686 levels and
then moved sharply higher, breaking both the resistances finally made a new Record High of 35,074 levels. Later prices
corrected towards 32,555 levels and finally closed higher from the previous weeks closing levels.
For the next week we expect gold prices to find Resistance in the range of 33,250 – 33,300 levels. Trading consistently above
33,405 levels would lead towards the strong Resistance at 34,840 levels and then finally towards the major Resistance at
36,650 levels.
Support is now observed in the range of 31,950-31,900 levels. Trading consistently below 31,800 levels would lead towards
the strong support at 31,450 levels, and then finally towards the Major support at 29,870 levels.
MCX / Spot Gold Trading levels for the week
Trend: Down
S1-31,930/ $ 1378 R1-33,260 / $ 1406
S2-31,450 / $ 1362 R2-34,840 / $ 1424
Weekly Recommendation: Sell MCX Gold October between 33,250-33,300, SL-34,000, Target -31,950.
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MCX  TIPS Silver silver December as seen in the weekly chart above has opened the week at 54,620 levels initially made a low of 54,551
levels and then rallied sharply throughout the week breaking both the resistances finally made a high of 61,180 levels. Later
prices corrected towards 55,125 levels and finally closed higher from the previous weeks closing levels.
For the next week we expect silver prices to find Resistance in the range of 57,000 – 57,100 levels. Trading consistently
above 57,350 levels would lead towards the strong Resistance at 59,690 levels and then finally towards the major
Resistance at 63,750 levels.
Support is now observed in the range of 53,100-53,000 levels. Trading consistently below 52,900 levels would lead towards
the strong support at 50,540 levels, and then finally towards the Major support at 49,730 levels.
MCX / Spot Silver Trading levels for the week
Trend: Down
S1-53,050 / $ 22.82 R1-57,000 / $ 24.02
S2-50,540 / $ 22.20 R2-59,690 / $24.62
Weekly Recommendation: Sell MCX Silver December between 56,950-57,050, SL-58,201, Target -53,100.
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