Friday, September 7, 2012

Commodity Prices : 7th September 2012

Gold prices are resisting the upward sloping trendline on closing can sell on rise around could remain caution on long position as it has wiped out all the gain yesterday .
Silver prices are expected to witness profit booking as it ended and closed at the lower end. Prices can correct till 61000 – 60700 on lower end.
Copper prices have witnessed a breakout, one can buy on dip around 433 – 432 with a stop loss below 427. However prices are capped at 439 – 441.
Nickel prices are expected to trade within a range from 920 to 880, one can trade within the range.
Crude price have broken the supportive trendline we expect prices to correct further till 5210. We recommend to sell on rise around 5325 -5350.
Lead prices are expected to witness profit booking at 112.50 – 112, one can buy around that level with a stop loss below 111.

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