Daily Technical view 040909

Comex Gold-GC : Reversed few Dollars just away from the psychological Level of 1000$, after making a Intraday High of 997$. A Strong up move has been Seen From 940$to 997$ , Expecting it face string Resistance in zone of 1004$ to 1008$ Range, Could Consolidate again a bit before Making new highsConsolidation Range : 974$-997$Trend Reversal Level: Close Below 963$Next target : 1004$

MCX gold : Gold prices Move dup sharply from sub 15000 Levels to 15800 Levels in weeks time , Some amazing strength. The Immediate Resistance Comes now near to 15916 & 16029 , Looking for it to be tested and could Consolidate also a bit before Same . Before Making Fresh moves Consolidation Range : 15500-15800 RangeNext target 16400

Comex Silver : tested the resistance of 16.22$ which was May Months high and again failed Same to close below 16.00$ , Would find Supports now at 15.65$ & 15.84 $ and Consolidate bit before making fresh Up moves for Possible target of 16.36-16.84Consolidation Range : 15.84-16.22 Next target : 16.36

MCX silver : Silver Prices managed to Surpass the Important resistance at 25650 and moved up sharply to make new high around 26250 Levels , Expecting it to consolidate a bit before any further fresh Moves , Supports now at 26101-25840Consolidation Range : 25760-26340Next target 27800 ( if closes above 26500)

Nymex Crude oil : Trading in indecisive to downwards bias Since past two days but managing to Close above 67.50$ , a Close Below same would Open downward targets till 64 $ and Move Past 70 $ again would open the possibilities of re test of recent high of 72.5$ & 73.46 $trend : sideways to Range bound

MCX crude oil : Managing to close above the crucial level of 3320 Since past few days after the sharp fall from 3510 , Need to wait and watch this is consolidation or halt before the next move starts or a Possible base building for a bounce again , weak below 3300 & intraday Bias turns Positive above 3400

Natural Gas Nymex : took Support Just above the first targets of 2.4$ as mentioned Earlier and closed sharply negative, would play in this small range now before Further making new Lows, on downside Strong Support at 2.41 & 2.355 $ close below Same could Open targets for physiological Levels of 2$

MCX natural gas : After the sharp Downfall intraday halted just above the Crucial Support level of 121, Would Play in small Range near this Zone 121-138, before Making fresh move. A close below 121 could open Downside Possible targets of 95

Base Metals MCX :
Copper is consolidating in Small Range of 298--313 Rupees , A Break On any side would indicate Further move

Lead strongest of all managed to cross above 110 opening upside possible targets of 114 & 120 in short term Reversal in trend if closes below 104

Nickel is looking weak with supports coming in at 882 & 866 Zone , a Close above 908 Would open upside target of 935 again on downside below 866-840

Zinc : zinc as been mangling to Stay above the important Support of 90 but not giving any fresh upside up move . A Move past 92.65 could open upside targets of 95- 98