GOLDmcxAPR(m)
Technical Levels:
R3 - 21500/21900
R2 - 21060/190/350
R1 - 21030
Pivot - 20930
S1 - 20830
S2 - 20770/720/540
S3 - 20400/200
Technical Commentary:
Upside moves favoured till 21050, but inability to sustain above the same may be a weak signal and such moves drag prices lower towards 20930/830 or more for the day. Prices have to break above 21070-120 regions to call for fresh short covering rallies towards 21240 later. A direct fall below 20770 would be a strong bearish call.
Trends:
Intraday - Down
Near Term - Up
Technical Levels:
R3 - 57000/60000
R2 - 55000/56200
R1 - 54500/770
Pivot - 54090
S1 - 53700-600/100
S2 - 52400/52000
S3 - 51480/49800
Technical Commentary:
Though prices have rooms for upside till 56200/57000, failure to clear above 54400-770 has considerably weaken the momentum and the trend looks to a dip towards 53700/200 or more. Consistent trades below 53600 may drag prices lower towards 52500/51400 later.
Trends:
Intraday - Consolidate
Near Term - Up
Technical Levels:
R3 - 465/482
R2 - 438/441
R1 - 432/435.50
Pivot - 429
S1 - 426/420
S2 - 410/404/400
S3 - 388
Technical Commentary:
Expects a move lower towards 422 /418 as long as gains remain capped near 430.50. However, an unexpected pullback above 431.50 may see prices to trade higher towards 438 levels.
Intraday - Down
Near Term - Up
NICKELmcxMAR
Technical Levels:
R3 - 1280/94
R2 - 1220/32/48
R1 - 1214
Pivot - 1198
S1 - 1191/1172/1162
S2 - 1155/1148
S3 - 1122
Technical Commentary:
Dips favourd towards 1191 initially, but should consolidate and drift prices higher towards 1217/24 or more as long as 1181 hold the down side. Unexpected falls below 1180 may be a weak signal and such falls would extend towards 1160 or more.
Trends:
Intraday - Consolidate
Near Term - Down
LEADmcxMAR
Technical Levels:
R3 - 131
R2 - 125.30/127
R1 - 121/124
Pivot - 120.30
S1 - 119.30
S2 - 118.50/117
S3 - 106/104
Technical Commentary:
If price hold the support 119.50-119 we can expect a recovery in prices towards 121 initially. Break below the same likely to extend fall towards 118 then 116.70 levels.
Trends:
Intraday -Up
Near Term - Consolidate
Technical Levels:
R3 - 111
R2 - 107.20/108.60
R1 - 105.60
Pivot - 103.70
S1 - 102.70/101.80
S2 - 100/99.40
S3 - 95.70/93
Technical Commentary:
As long as 104.30 holds, expect to trade lower towards 102.70 then 101.20 for the day. Consistent trade above 105.5 may trigger short covering rallies towards 107.
Intraday - Down
Near Term - Down
CRUDEmcxAPR
Technical Levels:
R3 - 4900
R2 - 4830/70
R1 - 4680/4725/92
Pivot - 4658
S1 - 4640/4600
S2 - 4570/4480
Technical Commentary:
On broad bias prices looks for a target of 4800/900, but to trigger such rallies prices have to cross above 4740-60 congestion regions. However inability to cross above the same may call for a corrective sell off till 4580 later. We favour major weakness only if prices close below 4570.
Intraday - Consolidate
Near Term - Up
NAT. GASmcxMAR
Technical Levels:
R3 - 204/220
R2 - 197/201
R1 - 1918/194
Pivot - 188.30
S1 - 186/183
S2 - 181
S3 - 177/173
Technical Commentary:
Prices have been congested at 191-185 region for the last few days. Fresh short covering rallies are favoured if it breaks above the resistance 191. It would be required to close below 185 to negate the view and extend weakness.
Intraday - Up
Near term - Consolidate
