LET THE MARKET TELL WHO WE ARE

USD index is moving in a falling wedge and making bullish divergence on MACD indicator that is the sign of upcoming trend reversal its time to be cautious in bullions. USD index is near to bullish breakout with positive momentum and gold silver is also moving in consolidation mood. 

As per daily chart MCX crude oil seems that we can see a good u turn in crude oil and it may taste 4380-4370 zones in near fut.  It is making double top formation on daily chart and rsi indicator is making bearish divergence on the scale that is confirming this bearish view and crude may correct till 4370-4380 zones a failure below 4370 will confirm another down side swing and crude may fall till 3750 in near term trader can short on rise around 4740-50 zones with a stop loss of 4820. 

As per 240 minutes chart of Gold comex fut it has recently formed a break below the support line of the rising channel  and now gold has define a new risk level around 1437 for short sellers trader can take short position on rise around 1425-28 zones for a nearest target around 1393 a failure below 1393 can invite more sellers and price may move towards 1360 and 1392.30 is 380% Retracement level of this swing that is started from 1307.60 on January 28, 2011 to a high of 1445 on March 07, 2011. 

As per daily chart of nifty fut is seems that nifty has define new support around 5470 for a fresh swing till 5800-5850 zone, during previous trading session good volumes seen near resistance areas around 5600-5620, and MACD indicator moving up with strong positive momentum these are the facts that can take NIFTY FUT up to 5800-5850 zones.  

As per 60 min chart of crude oil it is making Head & shoulder pattern this types of patterns are known as reversal patterns and it is now ready to retest its neckline after breakout trader can take short positions in crude on rise around $98-98.50 by keeping a tight stop loss around $99.30 zones and 92-90 area is expected support zone for crude oil it can taste that level to complete this pattern. On mcx trader can go short around 4480-4500 zones with a stop loss above 4560 and fall expected till 4100-3900 zones