OCT 31 FRIDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
STAY SHORT AT RESISTENCE.
Lead dropped, down 8.5 percent to a low of $1,445
before closing at $1,520 versus $1,580.
Analyst say it could test $ 1650 in the near term.
It has support at $ 1145 and resistence at $ 1650.
Friday, October 31, 2008
Wednesday, October 29, 2008
UPDATES ON OCT 29 2008
OCT 29 WEDNESDAY
SHORT TERM TREND : SIDEWYAS
LONG TERM TREND : BEARISH
S1 RS 68.50 , S2 RS 65
R1 RS 72 , R2 RS 75
Lead raced to $0.5699/lb., up nearly 3 cents.
The release of key economic indicators towards
the end of the week , with thre US Fed set to
release a policy announcement from its 2 day
Open Market Commitee meeting , widely expected
to result in a 50 basis point interest rate cut to
1 % and an advanced estimate for US GDP in the third
quarter set to be released on Thursday are likely to
dictate the direction of the complex in the
near future.
SHORT TERM TREND : SIDEWYAS
LONG TERM TREND : BEARISH
S1 RS 68.50 , S2 RS 65
R1 RS 72 , R2 RS 75
Lead raced to $0.5699/lb., up nearly 3 cents.
The release of key economic indicators towards
the end of the week , with thre US Fed set to
release a policy announcement from its 2 day
Open Market Commitee meeting , widely expected
to result in a 50 basis point interest rate cut to
1 % and an advanced estimate for US GDP in the third
quarter set to be released on Thursday are likely to
dictate the direction of the complex in the
near future.
Saturday, October 25, 2008
UPDATES ON OCT 25 2008
OCT 25 SATURDAY
Lead prices lost more than 10 percent on Friday to $1,145 a
tonne -- its lowest since August 2006 -- as the market priced
in the threat of a global recession and the dollar strengthened.
Lead for three-month delivery on the London Metal Exchange
was trading at $1,160 a tonne at 1000 GMT, compared with
$1,275 at the close on Thursday.
Lead prices lost more than 10 percent on Friday to $1,145 a
tonne -- its lowest since August 2006 -- as the market priced
in the threat of a global recession and the dollar strengthened.
Lead for three-month delivery on the London Metal Exchange
was trading at $1,160 a tonne at 1000 GMT, compared with
$1,275 at the close on Thursday.
Friday, October 24, 2008
UPDATES ON OCT 24 2008
OCT 24 FRIDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 63 , S2 RS 61.30
R1 RS 66.40 , RS 67.60
WAIT FOR CONFIRMATION
lead rose $23.75, or 1.9 percent, to $1,284.75 a ton.
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 63 , S2 RS 61.30
R1 RS 66.40 , RS 67.60
WAIT FOR CONFIRMATION
lead rose $23.75, or 1.9 percent, to $1,284.75 a ton.
Thursday, October 23, 2008
UPDATES
TECHNICALS FOROCTOBER 23
MCX OCTOBER LEAD
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
SUPPORTS : 60.70, 58.30
RESISTANCES : 64.00, 65.60
STAY SHORT AT RESISTANCES
MCX OCTOBER LEAD
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
SUPPORTS : 60.70, 58.30
RESISTANCES : 64.00, 65.60
STAY SHORT AT RESISTANCES
UPDATES ON OCT 23 2008
OCT 23 THURSDAY
All the metals ended lower in the back of a lot of
negative news.The rising dollar , falling demand and
global recession fears are gripping the market.
Apparently London traders had their eye on the markets again.
With the decline in China's GDP to 9 % fundamentals for
base metals have become weak from a short term
perspective.
Lead has support at $ 900 and resistence is at $ 1500.
We are at $ 1285 on Lead down $ 85.
The market got hammered today and has taken out last
week's low .Analyst say there is nothing on the long time
chart until the $ 900 level.
All the metals ended lower in the back of a lot of
negative news.The rising dollar , falling demand and
global recession fears are gripping the market.
Apparently London traders had their eye on the markets again.
With the decline in China's GDP to 9 % fundamentals for
base metals have become weak from a short term
perspective.
Lead has support at $ 900 and resistence is at $ 1500.
We are at $ 1285 on Lead down $ 85.
The market got hammered today and has taken out last
week's low .Analyst say there is nothing on the long time
chart until the $ 900 level.
Wednesday, October 22, 2008
UPDATES
TECHNICALS FOR 22 OCTOBER
MCX LEAD OCTOBER
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
SUPPORTS ; 67.60, 65.60
RESISTANCES : 69, 71
STAY SHORT AT RESISTANCES
MCX LEAD OCTOBER
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
SUPPORTS ; 67.60, 65.60
RESISTANCES : 69, 71
STAY SHORT AT RESISTANCES
Tuesday, October 21, 2008
UPDATE
TECHNICALS FOR OCTOBER 21
MCX OCTOBER LEAD
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
SUPPORTS : S1 70, S2 68.60
RESISTANCES : R1 73.00, R2 75.00
GO SHORT AT RESISTANCES
MCX OCTOBER LEAD
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
SUPPORTS : S1 70, S2 68.60
RESISTANCES : R1 73.00, R2 75.00
GO SHORT AT RESISTANCES
UPDATES ON OCT 21 2008
OCT 21 TUESDAY
Lead was quoted at $1,420/1,430, after earlier
falling to a low of $1,390 a tonne, from $1,460 at the close on
Friday. Cancelled warrants -- contracts already reserved for
delivery -- account for 22 percent of stock levels on the LME.
Lead was quoted at $1,420/1,430, after earlier
falling to a low of $1,390 a tonne, from $1,460 at the close on
Friday. Cancelled warrants -- contracts already reserved for
delivery -- account for 22 percent of stock levels on the LME.
Monday, October 20, 2008
UPDATES ON OCT 20 2008
OCT 20 MONDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 69 , S2 RS 67.60
R1 RS 72.30 , R2 RS 74
STAY SHORT AT RESISTENCE.
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 69 , S2 RS 67.60
R1 RS 72.30 , R2 RS 74
STAY SHORT AT RESISTENCE.
Friday, October 17, 2008
NYMEX TRADING LEVELS FOR OCT 17 2008
NYMEX TRADING LEVELS FOR OCT 17 FRIDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 65.80 , S2 RS 64.10
R1 RS 69.10 , R2 RS 70.70
SELL AT RESISTENCE LEVELS.
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 65.80 , S2 RS 64.10
R1 RS 69.10 , R2 RS 70.70
SELL AT RESISTENCE LEVELS.
UPDATES ON OCT 17 2008
OCT 17 FRIDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 67.20 , S2 RS 65.40
R1 RS 70.30 , R2 RS 72
SELL AT RESISTENCE LEVELS
Lead fell $135, or 9 percent, to $1,380 a ton.
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 67.20 , S2 RS 65.40
R1 RS 70.30 , R2 RS 72
SELL AT RESISTENCE LEVELS
Lead fell $135, or 9 percent, to $1,380 a ton.
Thursday, October 16, 2008
UPDATES ON OCT 16 2008
OCT 16 THURSDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND: BEARISH
S1 RS 71.10 , S2 RS 70.40
R1 RS 74.80 , R2 RS 76
SELL AT RESISTENCE LEVELS.
Lead fell over 7 percent and closed at $1,515
per tonne from $1,640.
Lead has support at $ 1420 and Resistence at $ 1700.
SHORT TERM TREND : BEARISH
LONG TERM TREND: BEARISH
S1 RS 71.10 , S2 RS 70.40
R1 RS 74.80 , R2 RS 76
SELL AT RESISTENCE LEVELS.
Lead fell over 7 percent and closed at $1,515
per tonne from $1,640.
Lead has support at $ 1420 and Resistence at $ 1700.
Wednesday, October 15, 2008
UPDATES ON OCT 15 2008
OCT 15 WEDNESDAY
SHORT TERM TREND: BEARISH
LOG TERM TREND : BEARISH
S1 RS 76.60 , S2 RS 74.20
R1 RS 79.20 , R2 RS 81.40
WAIT FOR CONFIRMATION.
Lead ended at $1,640 a tonne, up from $1,565.
Prices fell13 percent last week in a wide
commodities sell-off.
SHORT TERM TREND: BEARISH
LOG TERM TREND : BEARISH
S1 RS 76.60 , S2 RS 74.20
R1 RS 79.20 , R2 RS 81.40
WAIT FOR CONFIRMATION.
Lead ended at $1,640 a tonne, up from $1,565.
Prices fell13 percent last week in a wide
commodities sell-off.
Tuesday, October 14, 2008
UPDATES ON OCT 14 2008
OCT 14 TUESDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 75.10 , S2 RS 73.80
R1 RS 77.40 , R2 RS 79.00
WAIT FOR CONFIRMATION.
Lead was bid $ 57 higher at $ 1532 / MT .
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 75.10 , S2 RS 73.80
R1 RS 77.40 , R2 RS 79.00
WAIT FOR CONFIRMATION.
Lead was bid $ 57 higher at $ 1532 / MT .
Monday, October 13, 2008
UPDATES ON OCT 13 2008
OCT 13 MONDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 71.40 , S2 RS 69.80
R1 RS 74 , R2 RS 75.60
SELL AT RESISTENCE LEVELS.
The grim global economic outllok kicked in by the
US Financial crisi may take a heavy toll on demand
for base metals such as Aluminium , Copper , Nickel
Lead and Zinc.
Despite shutdown of one of the three mines of
Yuguang Gold and Lead Co , China's top lead
producer , the global lead market was in surplus
of 23000 tonnes in the first seven months of this
year against a deficit of 37000 tonnes in the same
period last year.
Shutdown of the mine reduced supply by about
10,000 tonnes .
Lead may follow other metal complex in the down trend.
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 71.40 , S2 RS 69.80
R1 RS 74 , R2 RS 75.60
SELL AT RESISTENCE LEVELS.
The grim global economic outllok kicked in by the
US Financial crisi may take a heavy toll on demand
for base metals such as Aluminium , Copper , Nickel
Lead and Zinc.
Despite shutdown of one of the three mines of
Yuguang Gold and Lead Co , China's top lead
producer , the global lead market was in surplus
of 23000 tonnes in the first seven months of this
year against a deficit of 37000 tonnes in the same
period last year.
Shutdown of the mine reduced supply by about
10,000 tonnes .
Lead may follow other metal complex in the down trend.
Friday, October 10, 2008
UPDATE
TECHNICALS FOR OCTOBER 10
MCX OCTOBER LEAD
SHORT TERM TREND : BEARISH
LONG TERM TREND: BEARISH
SUPPORTS ; S1 79.60 S2 76.60
RESISTANCES : R1 80.50 R2 82.60
STAY SHORT AT RESISTANCES
MCX OCTOBER LEAD
SHORT TERM TREND : BEARISH
LONG TERM TREND: BEARISH
SUPPORTS ; S1 79.60 S2 76.60
RESISTANCES : R1 80.50 R2 82.60
STAY SHORT AT RESISTANCES
Wednesday, October 8, 2008
UPDATES ON OCT 8 2008
OCT 8 WEDNESDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 77.80 , S2 RS 76.40
R1 RS 80.60 , R2 RS 82.40
Lead gained $ 26 to be bid at $ 41656 MT at 0910 GMT.
But the chart still looks weak and it could revisit
the $ 1530 July lows.
Lead and Tin were the only metals in the complex
that did not hit a fresh 2009 lows yesterday.
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 77.80 , S2 RS 76.40
R1 RS 80.60 , R2 RS 82.40
Lead gained $ 26 to be bid at $ 41656 MT at 0910 GMT.
But the chart still looks weak and it could revisit
the $ 1530 July lows.
Lead and Tin were the only metals in the complex
that did not hit a fresh 2009 lows yesterday.
Tuesday, October 7, 2008
UPDATE
TECHNICALS FOR OCTOBER 7
LEAD MCX OCTOBER
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
SUPPORTS : S1 77.30, S2 76
RESISTANCES : R1 79.40, R2 80.60
SELL AT 79.20 TO 79.40, SL 80.60 , TGT 77.30
We are now at $ 1645 on lead down $ 75 and Analyst
say has broken the short term upchannel which
suggest that lead could visit the July's low of $ 1530.
LEAD MCX OCTOBER
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
SUPPORTS : S1 77.30, S2 76
RESISTANCES : R1 79.40, R2 80.60
SELL AT 79.20 TO 79.40, SL 80.60 , TGT 77.30
We are now at $ 1645 on lead down $ 75 and Analyst
say has broken the short term upchannel which
suggest that lead could visit the July's low of $ 1530.
Monday, October 6, 2008
UPDATES ON OCT 6 2008
OCT 6 MONDAY
SHORT TERM TREND : SIDEWAYS : TARGET RS 106.30 TO 103.30
LONG TERM TREND : BEARISH : TARGET RS 95
S1 RS 103.60 , S2 RS 102 , S3 RS 100.80
R1 RS 105.60 , R2 107.20 , R3 RS 109
MARKET IS EXPECTED TO MOVE SIDEWAYS
TO LOWER
Lead has opened in the MCX lower by 2 % at Rs 80.
SHORT TERM TREND : SIDEWAYS : TARGET RS 106.30 TO 103.30
LONG TERM TREND : BEARISH : TARGET RS 95
S1 RS 103.60 , S2 RS 102 , S3 RS 100.80
R1 RS 105.60 , R2 107.20 , R3 RS 109
MARKET IS EXPECTED TO MOVE SIDEWAYS
TO LOWER
Lead has opened in the MCX lower by 2 % at Rs 80.
Saturday, October 4, 2008
UPDATES ON OCT 4 2008
OCT 4 SATURDAY
lead declined almost 14 percen.
Lead has support at $ 1530 and Resistence at $ 1920.
We are at $ 1710 on Lead up $ 15 and analyst say barely
holding above the shortterm up channel.A break below
this line could see lead visit the july lows of $ 1530.
lead declined almost 14 percen.
Lead has support at $ 1530 and Resistence at $ 1920.
We are at $ 1710 on Lead up $ 15 and analyst say barely
holding above the shortterm up channel.A break below
this line could see lead visit the july lows of $ 1530.
Friday, October 3, 2008
UPDATES ON OCT 3 2008
OCT 3 FRIDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 80.80 , S2 RS 78.60
R1 RS 83.70 , R2 RS 85.30
STAY SHORT AT RESISTENCE
Lead dropped to a two-month low of $1,681 before
closing at $1,700,down $40 from Wednesday's close.
The market was awaiting the House of Representatives' vote
on the $700 billion dollar package, which was expected
by Friday.
A firmer U.S. currency also weighed, making dollar-priced
commodities more expensive for holders of other currencies.
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 80.80 , S2 RS 78.60
R1 RS 83.70 , R2 RS 85.30
STAY SHORT AT RESISTENCE
Lead dropped to a two-month low of $1,681 before
closing at $1,700,down $40 from Wednesday's close.
The market was awaiting the House of Representatives' vote
on the $700 billion dollar package, which was expected
by Friday.
A firmer U.S. currency also weighed, making dollar-priced
commodities more expensive for holders of other currencies.
Thursday, October 2, 2008
UPDATES ON OCT 2 2008
OCT 2 THURSDAY
Lead was up $ 32 at $ 1862 mt.
Lead has support at $ 1780 and Resistence at $ 2130.
Lead was up $ 32 at $ 1862 mt.
Lead has support at $ 1780 and Resistence at $ 2130.
Wednesday, October 1, 2008
UPDATES ON OCT 1 2008
OCT 1 WEDNESDAY
SHORT TERM TREND : BEARISH
LONG TERM TEND : BEARISH
S1 RS 85.70 , S2 RS 84.10
R1 RS 88.30 , R2 RS 89.80
STAY SHORT AT RESISTENCE.
Lead lost $ 53 to $ 1771 / metric tonne.
The base metal complex was lower during London Metal
Exchnage pre market trade on Tuesday but higher
than the overnight lows on the back of the US bail
out plan being rejected.
The support seems to be around $ 1780 as depicted
in the charts.
SHORT TERM TREND : BEARISH
LONG TERM TEND : BEARISH
S1 RS 85.70 , S2 RS 84.10
R1 RS 88.30 , R2 RS 89.80
STAY SHORT AT RESISTENCE.
Lead lost $ 53 to $ 1771 / metric tonne.
The base metal complex was lower during London Metal
Exchnage pre market trade on Tuesday but higher
than the overnight lows on the back of the US bail
out plan being rejected.
The support seems to be around $ 1780 as depicted
in the charts.
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