Wednesday, September 7, 2011

Gold - Trend Reversal On Day Charts

Technical Views - Commodities 7th Sep 2011
  
MCX GOLD1
TREND : Our prudent approach paid off, and we could play both the upside and downside in Gold yesterday. Gold has given a reversal on the Day charts also. Today we expect gold to remain sideways to down. This down swing can take Gold to 27600 levels also and the extreme target of 27000.  
Support and Resistance - 27625 / 28150
SIGNAL :
Use TDI BS for short only

MCX SILVER1
TREND : A good opening but Silver could not sustain on the upper ranges and fell by approx 2000 points from its highs. These are signs of bearishness in the commodity. On the lower side Silver can touch 63500 and 62500 in the coming days. 
Support and Resistance - 64280 - 65200
SIGNAL : Use TDI BS for both long and short

MCX Crude1
TREND : Though Crude did not touch 3810, but our strategy to avoid Sell signals paid  off. We expect a bullish to sideways move tomorrow.

Support and Resistance
- 3890 / 3950
SIGNAL
: Use Buy and Sell Signals of TDI BS

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