Technical Views - Commodities 6th Sep 2011
MCX GOLD1
TREND : Though the trade was not very volatile as we expected, but one good thing happened yesterday. Gold has breached its earlier high with confidence and we expect gold to continue its winning streak. But in all situations we also need to understand that when earlier highs are taken out we should trade above them for the next day also. In the event of Gold falling below 28200, we will consider this as a false breakout and play the downside.
TREND : Though the trade was not very volatile as we expected, but one good thing happened yesterday. Gold has breached its earlier high with confidence and we expect gold to continue its winning streak. But in all situations we also need to understand that when earlier highs are taken out we should trade above them for the next day also. In the event of Gold falling below 28200, we will consider this as a false breakout and play the downside.
Support and Resistance - 28300 / 28520
SIGNAL : Use TDI BS for both long and short
MCX SILVER1
TREND : Unlike Gold, Silver was in consolidation mode and avoiding trades paid off. We expect to get both long and short opportunities in Silver. Quick trades with small profits will be the strategy for the day
SIGNAL : Use TDI BS for both long and short
MCX SILVER1
TREND : Unlike Gold, Silver was in consolidation mode and avoiding trades paid off. We expect to get both long and short opportunities in Silver. Quick trades with small profits will be the strategy for the day
Support and Resistance - 63900 - 64800
SIGNAL : Use TDI BS for both long and short
MCX Crude1
TREND : We are at then last leg of the fall. The fall should arrest at 3810 and then consolidate or freak up swing. Lets stop taking the Sell signals now and watch for buy signals.
Support and Resistance - 3810 / 3885
SIGNAL : Use Buy Signals of TDI BS
TREND : We are at then last leg of the fall. The fall should arrest at 3810 and then consolidate or freak up swing. Lets stop taking the Sell signals now and watch for buy signals.
Support and Resistance - 3810 / 3885
SIGNAL : Use Buy Signals of TDI BS
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