LME INVENTORY DATA FOR SEPT 30 2008
Lead stocks are down 275 tonnes.
Tuesday, September 30, 2008
UPDATE FOR SEPT 29 2008
MARKET UPDATE FOR 29 SEPTEMBER
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 84.10 , S2 RS 82.40
R1 RS 87.10 , R2 RS 88.70
STAY SHORT AT RESISTENCE.
Lead fell more than 6 percent to a low of $1,816 a tonne. It ended
the day at $1,830, down from $1,960 on Friday.
Lead and zinc have lost about a quarter and nickel hasshed
35 percent since the start of the year.
Turmoil in financial markets has weighed on metal prices for months.
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 84.10 , S2 RS 82.40
R1 RS 87.10 , R2 RS 88.70
STAY SHORT AT RESISTENCE.
Lead fell more than 6 percent to a low of $1,816 a tonne. It ended
the day at $1,830, down from $1,960 on Friday.
Lead and zinc have lost about a quarter and nickel hasshed
35 percent since the start of the year.
Turmoil in financial markets has weighed on metal prices for months.
Monday, September 29, 2008
UPDATES ON SEPT 29 2008
SEPT 29 MONDAY
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 90.04 , S2 RS 88.60
R1 RS 92.80 , R2 RS 94.30
STAY LONG AT SUPPORT.
Lead has proved to be one of the best supported
metals rising by 12 % over the week.But the sentiment
in the complex may cap further upside.
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 90.04 , S2 RS 88.60
R1 RS 92.80 , R2 RS 94.30
STAY LONG AT SUPPORT.
Lead has proved to be one of the best supported
metals rising by 12 % over the week.But the sentiment
in the complex may cap further upside.
Saturday, September 27, 2008
UPDATE
UPDATE FOR 26 SEPTEMBER
Lead ended at $1,960 per tonne from $2,015 at the close
on Thursday.Tin was last quoted higher at $18,100/18,105, from
Thursday's close of $17,600.
Lead ended at $1,960 per tonne from $2,015 at the close
on Thursday.Tin was last quoted higher at $18,100/18,105, from
Thursday's close of $17,600.
Friday, September 26, 2008
UPDATES ON SEPT 26 2008
SEPT 26 FRIDAY
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 91 , S2 RS 89.60
R1 RS 93.30 , R2 RS 94.80
STAY LONG AT SUPPORT.
Lead was at $2,015 from $1,995 on Wednesday.
The current crisis gripping the financial market
is having a negative impact on the Base complex.
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 91 , S2 RS 89.60
R1 RS 93.30 , R2 RS 94.80
STAY LONG AT SUPPORT.
Lead was at $2,015 from $1,995 on Wednesday.
The current crisis gripping the financial market
is having a negative impact on the Base complex.
Thursday, September 25, 2008
UPDATES ON SEPT 25 2008
SEPT 25 THURSDAY
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 90.40 , S2 RS 89
R1 RS 93.10 , R2 RS 94.80
STAY LONG AT SUPPORT.
lead shed $5 to $1,995 a tonne, after hitting a high of
$2,080 in earlier trade, its highest since Aug. 28.
Lead has support at $ 1950 and Resistence at $ 2130.
Lead closed for a second day above $ 1950 and could
therefore move towards $ 2130.
The steady decline in Chinese lead exports and coupled
with rising import demand due to closure of many facilities
in China could be peoviding underlying support.
Declining LME Stocks is another factor that could
support prices.
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 90.40 , S2 RS 89
R1 RS 93.10 , R2 RS 94.80
STAY LONG AT SUPPORT.
lead shed $5 to $1,995 a tonne, after hitting a high of
$2,080 in earlier trade, its highest since Aug. 28.
Lead has support at $ 1950 and Resistence at $ 2130.
Lead closed for a second day above $ 1950 and could
therefore move towards $ 2130.
The steady decline in Chinese lead exports and coupled
with rising import demand due to closure of many facilities
in China could be peoviding underlying support.
Declining LME Stocks is another factor that could
support prices.
Wednesday, September 24, 2008
UPDATES ON SEPT 24 2008
SEPT 24 WEDNESDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 89.20 , S2 RS 87.60
R1 RS 91.60 , R2 RS 93.40
STAY LONG AT SUPPORT.
Lead was at $2,000, up from Monday's close of$1,990.
It hit a high of $2,020 in earlier trade, its highest level
since Sept. 4.
Lead stocks were down 1300 /MT .
Lead has support at $ 1900 and resistence at $ 1950.
Analyst feel another close above $1950 today could see it
trying to test $ 2130 levels.
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 89.20 , S2 RS 87.60
R1 RS 91.60 , R2 RS 93.40
STAY LONG AT SUPPORT.
Lead was at $2,000, up from Monday's close of$1,990.
It hit a high of $2,020 in earlier trade, its highest level
since Sept. 4.
Lead stocks were down 1300 /MT .
Lead has support at $ 1900 and resistence at $ 1950.
Analyst feel another close above $1950 today could see it
trying to test $ 2130 levels.
Tuesday, September 23, 2008
UPDATES ON SEPT 23 2008
SEPT 23 TUESDAY
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 89.60 , S2 RS 87.80
R1 RS 92.30 , R2 R S94
TRADING CALL
BUY AT RS 89.70 TO 89.50
STOP LOSS RS 87.80
TARGET RS 92.30.
Lead closed at $1,990 from Friday's close of $1,900. It earlier
hit a high of $2,000, up 5.3 percent, last seen on Sept. 4.
Lead is now at $ 1946 up $ 46 and heading towards
the key resistence of $ 1950.
Analyst feel if it closes for 2 days above this level
it could advance to $ 2130 and trading range
highs of $ 2300.
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 89.60 , S2 RS 87.80
R1 RS 92.30 , R2 R S94
TRADING CALL
BUY AT RS 89.70 TO 89.50
STOP LOSS RS 87.80
TARGET RS 92.30.
Lead closed at $1,990 from Friday's close of $1,900. It earlier
hit a high of $2,000, up 5.3 percent, last seen on Sept. 4.
Lead is now at $ 1946 up $ 46 and heading towards
the key resistence of $ 1950.
Analyst feel if it closes for 2 days above this level
it could advance to $ 2130 and trading range
highs of $ 2300.
Monday, September 22, 2008
UPDATES ON SEPT 22 2008
SEPT 22 MONDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 85 , S2 RS 83.40
R1 RS 87.60 , R2 RS 89
WAIT FOR CONFIRMATION.
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 85 , S2 RS 83.40
R1 RS 87.60 , R2 RS 89
WAIT FOR CONFIRMATION.
Friday, September 19, 2008
UPDATES ON SEPT 19 2008
SEPT 19 FRIDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 83.60 , S2 RS 81.40
R1 RS 85.60 , R2 RS 87.
Lead rose $40, or 2.3 percent, to $1,820 .
There is support at $ 1700 and resistence is at $ 1950.
We are at $ 1827 on Lead up $ 47 /mt and relatively
quiet . We are still trading within a sideways range.
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 83.60 , S2 RS 81.40
R1 RS 85.60 , R2 RS 87.
Lead rose $40, or 2.3 percent, to $1,820 .
There is support at $ 1700 and resistence is at $ 1950.
We are at $ 1827 on Lead up $ 47 /mt and relatively
quiet . We are still trading within a sideways range.
Thursday, September 18, 2008
UPDATES ON SEPT 18 2008
SEPT 18 THURSDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 83 , S2 RS 81.40
R1 RS 85.60 , R2 RS 87
WAIT FOR CONFIRMATION.
Lead gained $ 24 to $ 1825.
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 83 , S2 RS 81.40
R1 RS 85.60 , R2 RS 87
WAIT FOR CONFIRMATION.
Lead gained $ 24 to $ 1825.
Wednesday, September 17, 2008
TECHNICALS
TECHNICAL LEVELS FOR SEPTEMBER 17
LEAD MCX SEPTEMBER
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
SUPPORTS : S1 - RS.83.60, S2- RS.81.40
RESISTANCES : R1 -RS.85.60 , R2 - RS.87
WAIT FOR CONFIRMATION
LEAD MCX SEPTEMBER
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
SUPPORTS : S1 - RS.83.60, S2- RS.81.40
RESISTANCES : R1 -RS.85.60 , R2 - RS.87
WAIT FOR CONFIRMATION
Tuesday, September 16, 2008
UPDATES ON SEPT 16 2008
SEPT 16 TUESDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 83.60 , S2 RS 81.40
R1 RS 86.80 , R2 RS 88
WAIT FOR CONFIRMATION.
Lead dropped 1.6 percent to $1,820.
Lead is at $ 1815 and techniacal ana;lyst feel it
would test $ 1700 its support.
Analyst feel a series of low highs may not be
technically constructive.
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 83.60 , S2 RS 81.40
R1 RS 86.80 , R2 RS 88
WAIT FOR CONFIRMATION.
Lead dropped 1.6 percent to $1,820.
Lead is at $ 1815 and techniacal ana;lyst feel it
would test $ 1700 its support.
Analyst feel a series of low highs may not be
technically constructive.
Monday, September 15, 2008
TECHNICALS
TECHNICAL LEVELS FOR 15 SEPTEMBER
LEAD MCX SEPTEMBER
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
SUPPORTS : S1 - RS.87.20 , S2 - RS.85.4
RESISTANCES : R1 - RS.89.60, R2 - RS.91
STAY LONG
LEAD MCX SEPTEMBER
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
SUPPORTS : S1 - RS.87.20 , S2 - RS.85.4
RESISTANCES : R1 - RS.89.60, R2 - RS.91
STAY LONG
Saturday, September 13, 2008
PRICE UPDATE
LME PRICE UPDATE FOR FRIDAY, 12SEPTEMBER
On Fridayat LME, Lead traded at $1892, up from
$ 1850 the previous day.
On Fridayat LME, Lead traded at $1892, up from
$ 1850 the previous day.
Friday, September 12, 2008
UPDATES ON SEPT 12 2008
SEPT 12 FRIDAY
MCX LEAD SEPTEMBER
Lead was at $ 1783 / 1793 against $ 1799.
The support is at $ 1700 and Resistence is at $ 1950.
Metals rebounded yesterday but it did so without
the help of energy which finished lower after a very
choppy session and the dollar ended slightly
higher for the day.
MCX LEAD SEPTEMBER
SHORT TERM TREND -BULLISH
LONG TERM TREND - BEARISH
SUPPORTS - S1 83.60,S2 82
RESISTANCES - R1- 85.60, R2 - 87.3
TRADING CALL - BUY AT RS.83.6 TO 83.80
SL RS.82, TARGET RS.85.60
Lead was at $ 1783 / 1793 against $ 1799.
The support is at $ 1700 and Resistence is at $ 1950.
Metals rebounded yesterday but it did so without
the help of energy which finished lower after a very
choppy session and the dollar ended slightly
higher for the day.
Wednesday, September 10, 2008
UPDATES ON SEPT 10 2008
SEPT 10 WEDNESDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 80 , S2 RS 78.20
R1 RS 81.60 , R2 RS 83.60
WAIT FOR CONFIRMATION
Lead fell 3.3 % to an intra day low of $ 1790 per
tonne before trading at $ 1798 down $ 53.
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 80 , S2 RS 78.20
R1 RS 81.60 , R2 RS 83.60
WAIT FOR CONFIRMATION
Lead fell 3.3 % to an intra day low of $ 1790 per
tonne before trading at $ 1798 down $ 53.
Tuesday, September 9, 2008
UPDATES ON SEPT 9 2008
SEPT 9 TUESDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 80.60 , S2 RS 79.20
R1 RS 83.70 , R2 RS 85
WAIT FOR CONFIRMATION.
Lead has support at $ 1700 and resistence at $ 1950.
It is at $ 1855 up $ 50.The market remains very choppy.
Charts suggest that it could go downwards.
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 80.60 , S2 RS 79.20
R1 RS 83.70 , R2 RS 85
WAIT FOR CONFIRMATION.
Lead has support at $ 1700 and resistence at $ 1950.
It is at $ 1855 up $ 50.The market remains very choppy.
Charts suggest that it could go downwards.
Friday, September 5, 2008
UPDATES ON SEPT 5 2008
SEPT 5 FRIDAY
SHORT TERM TREND : BEARISH
Lead Falls, Erasing Earlier Rise on Dollar.
Lead erased earlier gains as the biggest jump in the dollar
in almost a month eroded the appeal of raw materials.
Lead for delivery in three months dropped $46, or
2.4 percent, to $1,900 a metric ton as of 4:38 p.m. on
the London Metal Exchange. Prices rose as much as 3.8
percent after the LME reported another 450-ton decline
in inventories, to 78,700 tons, the lowest since June 12.
SHORT TERM TREND : BEARISH
LONG TERM TREND :BEARISH
S1 RS 83.80 , S2 RS 81.60
R1 RS 86.70 , R2 RS 88.40
STAY SHORT
Lead Falls, Erasing Earlier Rise on Dollar.
Lead erased earlier gains as the biggest jump in the dollar
in almost a month eroded the appeal of raw materials.
Lead for delivery in three months dropped $46, or
2.4 percent, to $1,900 a metric ton as of 4:38 p.m. on
the London Metal Exchange. Prices rose as much as 3.8
percent after the LME reported another 450-ton decline
in inventories, to 78,700 tons, the lowest since June 12.
Thursday, September 4, 2008
UPDATES ON SEPT 4 2008
SEPT 4 THURSDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 85 , S2 RS 83.40
R1 RS 88.60 R2 RS 90.20
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 85 , S2 RS 83.40
R1 RS 88.60 R2 RS 90.20
MCX Sept Lead is expected to trade in
the range of Rs 85 to Rs 88.60.
Wait for confirmation.
Wednesday, September 3, 2008
Tuesday, September 2, 2008
UPDATES ON SEPT 2 2008
SEPT 2 TUESDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 86 , S2 RS 84.80
R1 RS 88 , R2 RS 90.60
WAIT FOR CONFIRMATION.
Lead closed at $1,935 versus $1,980 at Friday's close.
The 2008 forecast for lead was revised down from the
previous quarter at $1.05 per pound or $2,315 per tonne.
A firm U.S. currency makes dollar-priced metals more
expensive for holders of other currencies.
Volumes were low with the U.S. market shut for Labor Day.
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 86 , S2 RS 84.80
R1 RS 88 , R2 RS 90.60
WAIT FOR CONFIRMATION.
Lead closed at $1,935 versus $1,980 at Friday's close.
The 2008 forecast for lead was revised down from the
previous quarter at $1.05 per pound or $2,315 per tonne.
A firm U.S. currency makes dollar-priced metals more
expensive for holders of other currencies.
Volumes were low with the U.S. market shut for Labor Day.
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