Thursday, June 11, 2009

Market View for 11th June

No change from yesterday in any of these counters.

Base metals still positive. Buy on dips.

Crude Oil still in positive trend but overbought so prone to a correction. Above 3320 next target was 3400 which it has achieved yesterday. Now 3419-3449 is very major resistance for this. If it has to crack it will take stiff resistance there otherwise above 3450 it will head for 3764. Watch out....

Natural Gas is still weak and ready for more fall. This week resistance is at 185 which is intact and its not able to break that...

Gold & Silver are still weak and prone to more fall. This week important level for Gold is 14731 and Silver 23945. Yesterday both tried to kiss them but could not break them and fell badly which means upside is only possible only after breach of these levels.

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