Sunday, June 21, 2009

Market View for 22nd June

Base metals are still looking in uptrend although a short term downside is expected. Those dips should be used for long term buying. Most of them are trading above their long term trend line which is acting as a very important support. As long as that long term trendline is intact we can use it for buying.

Crude Oil is also in uptrend but is prone to a correction. 3360 is a nice support. Below that we can see 3318/3232/3180/3141.

Gold & Silver are non trending however Gold is consolidating in a triangle and either side trendline breach will decide the further direction.

Natural Gas has a decent support at 194. Use dips to buy this.

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