Tuesday, May 10, 2011

Technical Views - Commodities 11th May 2011

MCX SILVER1
TREND : As per our expectation Silver1 is in the corrective rise. For the day we expect to get both up and down swings. If Silver1 trades abv 57500 we can trade the rise till 59000- 59800. But incase it is not able to cross, sell side opportunities will exist which can take it back to 55500
SIGNAL :
Both buy and sell signals of TDI - BS can be used for the day.

MCX GOLD1

TREND
: 22100 will remain to act as resistance for GOLD1. For the day gold will remain in the range of 21900 - 22100.
SIGNAL : Both buy and sell signals of TDI - BS can be used for the day.

MCX Crude1

TREND
: 4500 and 4550 have been taken out yesterday in the last hour of trading. We can play the rise only if 4550 sustains for today also. Expect 4650 on the upper-side. Shorts can be built only if crude starts trading below 4550 for a minimum period of 15 mins  
SIGNAL: Both buy and sell signals of TDI - BS can be used for the day.



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