Gold, Silver - expected to remain sideways today

Technical Views - Commodities 7th July 2011

MCX GOLD1
TREND : Another good day, We had an exceptional rise in the last 4 days. Gold needs to rest for today and then make its next move. We do not expect and major momentum today. The support for the day is at 22130 and resistance at 22250. Traders with High risk appetite can take short calls on sell signals of Gold in intraday. Keep your targets and SL small for today.  
SIGNAL : avoid signals of TDI BS

MCX SILVER1
TREND : 54500 is the major resistance for the day and 53000 the support. Inline with Gold, Silver will remain volatile but sideways. Keep small targets and small SL. Positional traders can enter longs in Silver with a SL of 52300 for a target of 58500 

SIGNAL : avoid signals of TDI BS

MCX Crude1
TREND : We saw very good consolidation in Crude yesterday. This would help crude build power for its next move. We expect it to remain sideways today also. The positional SL for long in Crude is at 4200 for today. SIGNAL : Use only buy signals of TDI BS

 

 

 

 

 

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