Thursday, May 5, 2011

Technical Views - Commodities 5th May 11

MCX SILVER1
TREND : As per our expectation Silver1 did not stop at 61200 and further drifted down. We need to monitor 57000 for support now. On an intraday basis Silver1 will remain volatile. Quick and small profits should be the strategy for the day. On the upper side 61850 and 62800 will remain to be strong resistance points
SIGNAL : Both buy and sell signals of TDI - BS can be used for the day to make profits.
NOTE : Silver1 contract is expiring tomorrow so adjust these levels for Silver2

MCX GOLD1
TREND : Yes, Gold1 can now touch 21500 but there is a small support coming at 21900. On the upper side 22175 will act as resistance. SIGNAL : Both buy and sell signals of TDI - BS can be used for the day to make profits.

MCX Crude1

TREND
: Bang on target. We saw a fall of 100 points on the break of 4950. Some more downside left. Extreme support 4720.SIGNAL: Both buy and sell signals of TDI - BS can be used for the day to make profits.

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