Gold has broken out ..........

We are expecting a big upside move in Gold and Silver. Let your longs run and cut your shorts  for small profits or losses.
 
Technical Views - Commodities 23th May 2011

MCX GOLD1
TREND : Finally Gold has broken out and we have a long position in the same. If you haven't entered. You will get a chance, buy the dip around 22050 - 22090. If you are short, GET OUT. If you are long, keep exiting the position if a TDI BS - Sell signal comes on a 30 min chart and buy again below. We expect a 500-700 points move in Gold. This target remains intact until 21840 does not break.
SIGNAL : Use Buy signals to enter new positions and Sell to exit longs

MCX SILVER1
TREND : A pattern similar to Gold is developing on the charts. Silver should break 54000 on the upper side today. The first target for Silver is 55000 but the pattern target is 58300.
SIGNAL : Use buy signals of TDI BS for the day


MCX Crude1
TREND : Both buy and sell signals were profitable yesterday. 4550 will remain to act as a resistance and 4425 as the support for the day
SIGNAL: Both buy and sell signals of TDI - BS can be used for the day.


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