Technical Views - Commodities 22th Sep 2011
MCX GOLD1
TREND : On expected lines Gold did face good resistances around 28200-250 levels. Though everybody is planning to buy or have buy positions, but i would like to advise everyone to be cautious at these levels, Yes there can be rise but equal chances of a fall also exists. And what ever happens will happen very fast. You need to act and react quickly to avoid any major losses. The other side of the story is that when there is so much risk, Why not wait and watch and jump into the wagon (gold) once it starts picking steam. Intra-day traders use both buy and sell signals for small fixed targets
TREND : On expected lines Gold did face good resistances around 28200-250 levels. Though everybody is planning to buy or have buy positions, but i would like to advise everyone to be cautious at these levels, Yes there can be rise but equal chances of a fall also exists. And what ever happens will happen very fast. You need to act and react quickly to avoid any major losses. The other side of the story is that when there is so much risk, Why not wait and watch and jump into the wagon (gold) once it starts picking steam. Intra-day traders use both buy and sell signals for small fixed targets
Support and Resistance - 27925 / 28225
SIGNAL : Use buy and sell signals of TDI BS
MCX SILVER1
TREND : Contrary to Gold, Silver has broken its level of 65000 and has traded and closed above that crucial level. Though we haven't taken any positional buys yesterday, but today positional traders can buy silver if 65000 level holds with a stoploss of 64600. For intra-day players, use only buy signals above 65000 and sell signals below 65000
SIGNAL : Use buy and sell signals of TDI BS
MCX SILVER1
TREND : Contrary to Gold, Silver has broken its level of 65000 and has traded and closed above that crucial level. Though we haven't taken any positional buys yesterday, but today positional traders can buy silver if 65000 level holds with a stoploss of 64600. For intra-day players, use only buy signals above 65000 and sell signals below 65000
Support and Resistance - 64600 - 65700
SIGNAL : Use buy and sell signals of TDI BS for both long and short
MCX Crude1
TREND : A good rally marked with an equally good fall suggests us that Crude is in no hurry to make big move. The trading range of 4200-4300 has multiple resistances which are not easy to overcome. On the downside 4150 will act as a good support. Trading strategy for today would be small trades with fixed targets
Support and Resistance - 4150 / 4230
SIGNAL : Use both buy and sell signals of TDI BS
TREND : A good rally marked with an equally good fall suggests us that Crude is in no hurry to make big move. The trading range of 4200-4300 has multiple resistances which are not easy to overcome. On the downside 4150 will act as a good support. Trading strategy for today would be small trades with fixed targets
Support and Resistance - 4150 / 4230
SIGNAL : Use both buy and sell signals of TDI BS
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1 comment:
we like fireworks!!
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