Friday, 12 October 2012

Commodity, Precious Metals and Crude Technical Out look for 12 oct 12

Gold prices are expected to trade within a range from 31250 to 31500. One can buy on dip around 31370 with a stop loss below 31250.
Silver prices are  resisting at 62400 which  is the downward sloping trendline. Prices  can test 61400  – 61200  on lower end.  Fresh  buying recommended above 62400.

Base Metal: 
Copper  prices  are likely to trade  sideways from 434 to 440. One  can trade within the range with a positive bias
Nickel  prices  are expected to  test 920  one can look to buy the counter around 920 with a stop loss below 905
Lead prices are expected to test 114 on lower end which seems to hold. For intraday one can buy with a stop loss below 113.

Crude price are expected to trade lower to the tune of 4830 -4800, one can sell on rise around 4890 -4900 with a small stop loss above 4920.


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