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Metals Buzz-Daily

                                                    Wednesday, July 22nd, 2009 

Bullions 
 
Commodity  Close  +/‐ Change  Bullions News and Technical Outllook 
Comex Gold  $ 946.90  ‐1.90  India August MCX gold contract likely to open up on firm international 
Comex  Silver  $ 13.625  +0.222  spot gold, but strong INR may limit some gains,; We expect contract 
MCX Gold   Rs. 14869  ‐  to  open  around  INR14,880/10  grams  and  trade  in  INR14,780‐
MCX Silver   Rs. 22178  ‐  INR14,940 band today. Last ended up 0.1% at INR14,869. 
   
  MCX Gold August Chart is Forming Doji candle stick. 
 
Trend Analysis  
Short term  Bearish 
Gold  Chart 
Medium term  Bearish 
 
Long term  Bullish 
 
Resistance and Support Level(Gold) 
Resistance 1  15000 
Resistance 2  14988 
Resistance 3  14920 
Support 1  14780 
Support 2  14679 
Support 3  14641 
Resistance and Support Level(Silver) 
Resistance 1  22657 
Resistance 2  22404 
Resistance 3  22350 
Support 1  21950      
Support 2  21770 
     
Support 3  21666 
Recommendations
 
 

MCX Gold August (Pre. Close 14869): Sell 14860 Strict SL 14888,    Targets 
14800. 
 
 
   

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Metals Buzz-Daily

Base Metals 
 
Commodity  Close  +/‐ Change  Base Metals News and Technical Outllook 
MCX Copper   260.55  ‐  Base  metals  mixed,  gold  hovering  around  little  changed  levels. 
MCX Zinc   78.00  ‐ 
Industrial  metals  fall  back  from  early  gains  as  equity  markets  ease, 
MCX Nickel   764.20  ‐ 
USD  rises  following  comments  from  Fed  Bernanke.  In  testimony  to 
MCX Aluminum   81.75  ‐  U.S.  Congress,  Bernanke  reaffirms  Fed  won't  start  tightening 
MCX Lead   79.80  ‐  monetary policy any time soon, signaling to investors fragility of U.S. 
NCDEX Steel   20950  ‐  economic recovery. 
 
  MCX Nickel Daily chart is forming a Bearish candle stick. 
Trend Analysis  (Base Metals) 
Short term  Bearish 
 
Medium term  Bullish 
Nickel Chart 
Long term  Bullish 
 
 
Resistance and Support Level(Copper) 
Resistance 1  270 
Resistance 2  267 
Resistance 3  264 
Support 1  258 
Support 2  253 
Support 3  250 
Resistance and Support Level (Nickle) 
Resistance 1  803 
Resistance 2  795 
Resistance 3  786 
Support 1  768 
Support 2  759 
Support 3  750 
Resistance and Support Level (Lead) 
    
    
Resistance 1  86.00 
Resistance 2  83.90  Recommendations 
Resistance 3  82.45 
 
Support 1  78.80 
MCX Nickel July (Pre. Close 764.20): Sell Below 772‐770 Strict SL 780,    
Support 2  76.60 
Target 750. 
Support 3  75.15 
 
 
 
 
 
 
 
 
 

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Metals Buzz-Daily

Energies 
 
 
Commodity  Close  +/‐ Change  Energies News and Technical Outllook 
NYMEX Crude Oil  $ 65.61  +0.32  The Organization of Petroleum Exporting Countries pegged the value of 
MCX Crude oil  Rs. 3162  ‐  its reference basket of 12 crude oils at $64.64 a barrel Monday, up $1.41 
NYMEX Natural Gas  $ 3.705  +0.016  from $63.23 a barrel set Friday, OPEC said Tuesday.  OPEC's basket of 12 
MCX Natural gas  Rs. 186.90  ‐  oils consists of Saharan Blend, Girassol, Oriente, Iran Heavy, Basra Light, 
  Kuwait Export, Es Sider, Bonny Light, Qatar Marine, Arab Light, Murban 
  and Merey.  
Trend Analysis  (Energies)   
Short term  Bearish   
Medium term  Bullish  MCX Crude oil Formed Bearish Doji candle stick pattern. 
 

Long term  Bullish 
  Crude oil Chart 
Resistance and Support Level(Crude oil)                    
Resistance 1  3315 
Resistance 2  3239 
Resistance 3  3194 
Support 1  3073 
Support 2  2997 
Support 3  2952 
Resistance and Support Level(Natural Gas) 
Resistance 1  203 
Resistance 2  197 
Resistance 3  193 
Support 1  183 
Support 2  177 

 
Support 3  172 

Recommendations
 
No recommendations 
 
 
 
 
 
 
 

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Metals Buzz-Daily

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