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SELL CRUDE BELOW 3415 TGT 3400-3495-3475 S/L 3435

Dowjones Has Strong Support 9910 On CLosing Basis if held then one can see Bounce back till 10250.

T Gnanasekar, Director, Commtrendz Research & Fund Management sees gold testing the USD 1000 per ounce level in the near-term. He said, “Some near term support is seen on bargain hunting and also on the basis of some amount of physical buying as well. But then I think there is still some downside left and possibly we could see a test of USD 1,000 per ounce.”

By David Lew
It is three months since India’s central bank—the Reserve Bank of India (RBI)—bought 200 tonnes of gold from the International Monetary Fund (IMF) for an astronomical price of $1,045 per ounce. India’s sudden decision to jump into the fray and purchase of the yellow metal from IMF led to a historic surge in gold price.

Tejas Shah, Technical Analyst – Commodities at Sharekhan does not expect gold prices to pullback sharply in the near-term. “Our strategy would be to sell on any small rallies.”

By David Lew
Two months after gold posted the historic high price of $1,227 per ounce, bullion investors have been caught in pains of losing money for every ounce of the yellow metal. On Thursday, gold plunged to its biggest one-day loss in 16 months. The yellow metal fell 4.4% in volatile trade, plunging below $1,060 an ounce.

Natural Gas February 10

Expected Movement: Downwards

S1: 252
S2: 248
R1: 259
R2: 264

Crude Oil February 10

Expected Movement: Downwards

S1: 3385
S2: 3350
R1: 3465
R2: 3505

Lead Expiry February 10

Expected Movement: Downwards

S1: 90
S2: 88.70
R1: 92.80
R2: 94

Gold Expiry April 10

Expected Movement: Downwards

S1: 16000
S2: 15880
R1: 16225
R2: 16325

Silver Expiry March 10

Expected Movement: Downwards

S1: 24100
S2: 23750
R1: 24500
R2: 24710

Copper Expiry February 10

Expected Movement: Downwards

S1: 290
S2: 287
R1: 299
R2: 303

Zinc Expiry February 10

Expected Movement: Downwards

S1: 92.80
S2: 91
R1: 95.80
R2: 97.40

Aluminum Expiry February 10

Expected Movement: Downwards

S1: 93.40
S2: 92.20
R1: 95
R2: 96.80

Nickel Expiry February 10

Expected Movement: Downwards

S1: 815
S2: 802
R1: 830
R2: 844

GOLD PCP 16152
TREND-WEAK
R1 16504, R2 16857, R3 17069
MIDLEVEL 16362
S1 15939, S2 15727, S3 15374
ABOVE 16450 STRONG

The price of Buying Gold will continue to rise in the long-term, reaching as much as $2,500 per ounce within the next two years, some analysts believe.