As the Intl markets were closed yesterday we could not get any intraday swings. But lets play
Technical Views - Commodities 31st May 2011
MCX GOLD1 (same analysis as yesterday)
TREND : Gold is at a crucial juncture. Incase if gold can trade and sustain above 22550 then we can expect 22800. Else we turn bearish on Gold with first target of 22350 and 2nd target we will disclose later as the story unfolds on the charts. 300-400 points upside or downside movement is on the cards. For today trend decider is 22550
SIGNAL : Use buy signals for trades above 22550 and sell signals below 22550
MCX SILVER1
TREND : The trading pattern on the 60min charts is of consolidation and waiting to breakout for a 2000 point up or down movement. We build positional longs above 57850 and positional shorts below 57500.
SIGNAL : Use buy and sell signals of TDI BS for the day
MCX Crude1
TREND : Yesterday's lackluster day hit our SL in Crudeoil. Today we will use 4540 as a trend decider. We can go long or short with this level as our SL.
SIGNAL: Use Buy and sell signals of TDI BS
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