Gold pierces the key horizontal resistance established in late June during a five-day consolidation of the August 08 fall. However, the RSI remains normal and MACD flashes bearish signals, which in turn probe the rebound. Even if the quote crosses the $1,790 hurdle on a daily closing basis, 50-DMA and a descending resistance line from June 01, respectively around...
All the metal stocks have been on a tear this year, and Vedanta is no different.
While most of the them are currently at their all time highs, Vedanta is still far from its ATH made in 2010.
It is nearing its previous peak of 2018, which will act as a strong resistance zone.
Keep a close watch, and if the share closes above 355, we can expect smooth ride to...
Sell copper near ₹ 727 with a Stop Loss of ₹ 731.
I analys Indian commodity market on a regular basis. I just earned 4800 points in SilverM, 2400 Points in GoldM and 240 Points in Crude Oil, however i wrongly entered in short position in nifty that made me some losses. But i believe losses are part of good trades.
Gold is showing a change in DOW theory
Made a Lower High, so, expecting a Lower Low
Chart pattern seen is Head and Shoulder, if breaks neckline then good short.
Target marked in the chart above.
Silver (w):- 62654 CMP, at crucial support If closed below (62150/62000) this then 56600/58500 levels will come :)
1) Crucial Support Holding
2) Volume Contraction
Hind Copper: Avoid
- Moving in downtrend channel.
- No trade entry till a breakout above the channel and negation of LH-LL pattern.
Only for educational purposes. Not a recommendation.
Metal Index obervations:
- Metals retest of BO line done today. Whether successful?? need to check chart for next few days.
- Level closed on 20 DEMA support.
- Super trend is still in buy zone.
Need to wait for uptrend continuation confirmation on chart in coming days.
*Analysis only for educational purposes. Not a recommendation,
