Gold & Silver - Trade the breakout

Technical Views - Commodities 7th Oct 2011

   

MCX GOLD1
TREND : Long, short, long.......... yes commodities tend to react in this fashion when the breakout is just about to happen. The oscillations are similar to a Chick which is inside the egg shell waiting to come out. The moves are not slow and soft but fast and strong. And instead of burning our hands inside this range it is better to take a few hits on the breakout.

Support and Resistance - 25500 / 26750
SIGNAL : Trade the breakout only

MCX SILVER1
TREND : Sustained trading above 52700 can only result in a silver touching 55000. Trading below 52500 will again result in a fall.

Support and Resistance - 52500 - 54000

SIGNAL : Use the Buy signals only if Silver trades above 52700

MCX Crude1
TREND : Super Sonic move yesterday. This  move will culminate in the range of 4070 - 4100. Some more upside and then we need correction of price or time.   
Support and Resistance - 3970 / 4070
SIGNAL : Use both buy and sell signals of TDI BS

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