MCX Gold surges to a high of Rs31326/Kg when Mr.Donald trump was leading the election results on 9th Nov 2016. Around 10.40p.m gold topped out and from there post the election announcement MCX Gold dropped to a low of Rs29269/Kg on last Friday (Nov 11,2016). The dollar rose to its strongest level since February. Bonds continued to get pounded, with losses exceeding $1 trillion this week.
Silver managed to breach above 2015 high and traded above 40635 for sometime. However on last Friday moved back below 2015 year high with sharp downside which makes the trading sentiment to turn negative on both daily and weekly timeframes.
Intratrend Positional Trend Update for Nifty, Bank Nifty, MCX Gold, MCX Silver, MCX Crude and MCX USDINR futures.
Three MCX commodities (Gold,Silver,Crude) is positional Trend Update for 6th July 2013. Currently MCX Gold and MCX Silver reversed to sell mode whereas MCX Crude maintains buy mode.
Three MCX commodities (Gold,Silver,Crude) is providing low risk positional entry oppurtunities.In the last two days able to see commodities like MCX Gold,Silver and Crude turning to buy mode.
Nifty June Futures is in positional sell mode since 20th June with trailing resistance comes near 5773 on the hourly charts and similarly MCX Silver august futures turns to positional sell mode on last thursday ( 20th June,2013 ) and currenly the resistance zone comes near Rs42000 /Kg Respectively. Reverse your position to Positional longs only if the support breaks on hourly charts.
Nifty June Futures is in positional buy mode since 17th June with trailing support comes near 5744 on the hourly charts and similarly MCX Silver august futures turns to positional buy mode yesterday ( 17th June,2013 ) and currenly the zone comes near Rs43236 /Kg Respectively.
SILVER MCX (2-April-2013) on daily charts seems to be trading near to Strong support zone 51300-51100, As SILVER today has a faced major Correction, Some Relief Rally is likely and Risk and Reward Ration on initiating a Long Position at current Levels will be favorable.
Now silver is trading around 53130 ($28.10) & as we can see on charts, not a single it provided a day close below $28.18 area but mcx silver was crashed ( may be low volume gambling).
Silver long term technical outlook (06.03.2013) Silver now trading around 54850 (($28.70) & we have analyze long term charts for positional traders. As we can see on charts, silver started a downside move in sep 2012 & after & after that we identified seen 3 downside wave in a very rare & ideal pattern […]
Now silver is trading around 55450 ($29.20) ( april contract) & as we can see on charts, silver extended its downside move to 78.6% feb correction level, where silver taking support from long descending trade line.
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