Technical Views - Commodities 16th June 2011
MCX GOLD1
TREND : The divergences helped the Gold to hold some ground and pull back. For today 22340 - 22455 are the minor levels. Look to buy closer to 22340 as and when the buys signals appear on the charts. 22550 is a major level which we should keep in our mind for the next 2-3 days. Incase we get a closing above the same, A positional buy can be taken.
SIGNAL : Use Sell Signals of TDI BS.
MCX SILVER1
TREND : 53000 will act as support and we can go long on Buy Signals. The resistance comes at 53650. Above 53650 expect 54000 - 54500. Shorts can be created at higher levels as and when the sell signals appear. On the lower side a break below 52900 will also be an opportunity to sell
MCX Crude1
TREND : The momentum was very high and the pressure will be seen today also. But the fall seems to be arrested for a day or two atleast. We should go short only at higher levels of 4325 - 4350. Shorting at lower levels is a high risk high reward situation.
SIGNAL: Avoid signals.
MCX GOLD1
TREND : The divergences helped the Gold to hold some ground and pull back. For today 22340 - 22455 are the minor levels. Look to buy closer to 22340 as and when the buys signals appear on the charts. 22550 is a major level which we should keep in our mind for the next 2-3 days. Incase we get a closing above the same, A positional buy can be taken.
SIGNAL : Use Sell Signals of TDI BS.
MCX SILVER1
TREND : 53000 will act as support and we can go long on Buy Signals. The resistance comes at 53650. Above 53650 expect 54000 - 54500. Shorts can be created at higher levels as and when the sell signals appear. On the lower side a break below 52900 will also be an opportunity to sell
MCX Crude1
TREND : The momentum was very high and the pressure will be seen today also. But the fall seems to be arrested for a day or two atleast. We should go short only at higher levels of 4325 - 4350. Shorting at lower levels is a high risk high reward situation.
SIGNAL: Avoid signals.
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