Technical Views - Commodities 12th May 2011
No Silver is not the monster, the monster is our thoughts who cannot see and follow market moves. These moves create large losses for traders, investors etc. But if we can follow some rules, some discipline these are profit making opportunity. I am not being philosophical but want to be logical. Every trader has to follow some risk mgmt, some money mgmt and if they do not the market has its own ecosystem to throw you out. Yesterday i got a lot of messages about when can we buy silver, i have bought silver aur kitna neeche ja sakti hai............... I just had one question popping out in my mind - WHY PEOPLE CAN SEE 5000 point loss and exit in 500 points (realistically 200 points). The question still remains unanswered.......... I am in the business of information and let me stick to that and share my thoughts on Silver today.
MCX SILVER1
TREND : Very tricky trading today. There are 3 scenarios that will play today.
1) Silver opens below 53500 and trades below it for 60 mins : Take only sell side trades.
2) Silver opens below 53500 and trades above 53500 : Take both buy and sell trades
3) Silver opens above 53500 and trades above 53500 : Take buy only trades
4) Silver opens above 53500 and trades below 53500 : Take both buy and sell trades
Levels for the day : 51525 - 52950 / 54900 - 55712
SIGNAL : use signals as mentioned above
MCX GOLD1
TREND : 22250 was really a make or break level for Gold. If today Gold cannot breach 21950 on the upper side, expect Gold to touch 21650. Above 21950, 22050 is achievable.
SIGNAL : Both buy and sell signals of TDI - BS can be used for the day.
MCX Crude1
TREND : 4425 is the trend decider level today. Below 4425, 4350 is the next support. On the upper-side 4500 is a resistance
SIGNAL: Both buy and sell signals of TDI - BS can be used for the day.
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MCX SILVER1
TREND : Very tricky trading today. There are 3 scenarios that will play today.
1) Silver opens below 53500 and trades below it for 60 mins : Take only sell side trades.
2) Silver opens below 53500 and trades above 53500 : Take both buy and sell trades
3) Silver opens above 53500 and trades above 53500 : Take buy only trades
4) Silver opens above 53500 and trades below 53500 : Take both buy and sell trades
Levels for the day : 51525 - 52950 / 54900 - 55712
SIGNAL : use signals as mentioned above
MCX GOLD1
TREND : 22250 was really a make or break level for Gold. If today Gold cannot breach 21950 on the upper side, expect Gold to touch 21650. Above 21950, 22050 is achievable.
SIGNAL : Both buy and sell signals of TDI - BS can be used for the day.
MCX Crude1
TREND : 4425 is the trend decider level today. Below 4425, 4350 is the next support. On the upper-side 4500 is a resistance
SIGNAL: Both buy and sell signals of TDI - BS can be used for the day.
Your feedback and comments are always welcome. For any issues with understanding the newsletter content please mail us on info@topdataindia.com
Please Like US on Facebook
Please follow us on twitter @topdataindia
For a free demo of our TDI BS signals and other products please contact 9717555433 /466
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