LET THE MARKET TELL WHO WE ARE

As per this trade setup on daily log scale it seems that we can see some consolidation or down side moves in silver comex in coming days. Silver made new life time high of 34.33 on comex  on 22 Feb 2011 and its previous life time high was 31.27 made on 03 Jan 2011. Now silver is making bearish divergence on its 9 periods RSI indicator and today good fall seen in silver from higher levels and taking support near $32.20 and as per candlesticks theory Dark cloud cover formation is under construction and if silver close below $33 then it will confirm this formation. Below $32.20 trader can enter in shorts for near term target of 31.40 a failure below 31 zone can create panic in buyers those have bought this counter around $34 and we will see huge selling in this counter on long term time frame trend is still up in but fresh entry will be only above 34.40-34.50 zone that is very strong resistance zones. Trader can take short positions below 32.20 for expected target of 31.20 and 29.75 i...

I have uploaded daily chart of Mentha Oil Mcx as per this chart menthe oil is trading in a pretty up trend and this fall can be a pull back of its previous vertical uptrend that occurred from bottom of 725, August 2010 to its top of 1305.80 in November 2010. After a vertical uptrend now prices are moving in a descending and 1025-1028 zones are support line of this triangle and 50% Fibonacci Retracement Level is around 1012 zone. So trader can keep eyes  on this commodity and here trader can find a good opportunity to get in early than greedy crowed only gap down opening below our support zone can neglect this view and fall can remain continue till 750 zones again.