Wednesday, July 10, 2013

Gold Chart

Expected move in gold explained in chart.200EMA on hourly chart is around 26300
range bound for 700 points in gold for the past one week.

Either side break out will issue some good move after touching the negative trend line.
Long term trend from 28000 is negative.   Short term trend is positive.

waiting for the opportunity to short

Silver Chart



Position : Nil

Technical Details : Pattern formation for 1350 points with neck line 40000
implies [if break] then target  38650.  Now range bound 40700-39900.

Long term MACD is negative, Short term is also negative.  As per Fibo
for the swing 41150-38500, 39500 is 61.8%, almost matched with pattern
formation.  Wait and watch for Short call.  

Copper Analysis


Position Short

tipssbsense (12/06/2013 07:56:13 PM): positional short copper-aug 415.8-425
with sl 430 for 370

38.2% of 467-336 is @ 417
61.8% of 467-336 is @ 386
78.6% of 467-336 is @ 364

Trend is negative, free fall will be expected below 400 up to target.
Fresh short will be possible around the resistance 425 if it rise. [already shorted there]

momentum is negative with oscillators are in over sold zone, so possible for
sideways with -ve closing.  Scalping in long term MACD, just negative cross
in daily MACD.

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