Pivot points for MCX trading on 18th September
|
|
R3
|
R2
|
R1
|
Pivot
|
S1
|
S2
|
S3
|
|
ALUMINI
|
117.92
|
117.33
|
116.47
|
115.88
|
115.02
|
114.43
|
113.57
|
|
COPPER
|
459.63
|
457.82
|
455.48
|
453.67
|
451.33
|
449.52
|
447.18
|
|
COPPERM
|
460.03
|
458.12
|
455.63
|
453.72
|
451.23
|
449.32
|
446.83
|
|
CRUDEOIL
|
5611.33
|
5482.67
|
5378.33
|
5249.67
|
5145.33
|
5016.67
|
4912.33
|
|
GOLDGUINEA
|
25747.67
|
25698.33
|
25631.67
|
25582.33
|
25515.67
|
25466.33
|
25399.67
|
|
GOLDM
|
32111.00
|
32035.00
|
31939.00
|
31863.00
|
31767.00
|
31691.00
|
31595.00
|
|
GOLDPETAL
|
3234.67
|
3225.33
|
3214.67
|
3205.33
|
3194.67
|
3185.33
|
3174.67
|
|
LEADMINI
|
123.28
|
122.27
|
121.63
|
120.62
|
119.98
|
118.97
|
118.33
|
|
NATURALGAS
|
166.70
|
164.00
|
159.70
|
157.00
|
152.70
|
150.00
|
145.70
|
|
NICKELM
|
1014.57
|
996.63
|
986.07
|
968.13
|
957.57
|
939.63
|
929.07
|
|
SILVERM
|
64944.67
|
64647.33
|
64214.67
|
63917.33
|
63484.67
|
63187.33
|
62754.67
|
|
SILVERMIC
|
64940.00
|
64645.00
|
64215.00
|
63920.00
|
63490.00
|
63195.00
|
62765.00
|
|
ZINCMINI
|
113.35
|
112.70
|
112.00
|
111.35
|
110.65
|
110.00
|
109.30
|
As expected, Zincmini
and Leadmini are showing some weakness. Certainly they are not candidates for
going long. Gold and silver are in a sideways
movement. It appears to be consolidating its positions. As I wrote in my
earlier posts, the uptrend is still on. The dip that we see now is ideal for
investors who do SIP type of investing. even positional traders can buy at the current price. I believe from this point gold and silver
could go higher. Therefore shorts should be avoided.
With regards to lead
zinc spreads I shall update the current position with charts in another post.
Happy trading!!
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