LET THE MARKET TELL WHO WE ARE

Gold comex: gold has broken out short term resistance of 1700 and nicely rallied up to 1752 during last week. We were expecting 1750 zones as a good resistance. Today nice selling pressure seen near resistance and gold made a low of 1705.99. Currently trading at 1712. Intraday expected trading range will be 1660-1750. Immediate resistance around 1733 a break above 1733 area will open it till 1750-1785-1800 but break above resistance of 1733 is less likely. Immediate support seen at 1695 a failure below 1695 would confirm a decline till 1678-1668 zones for the day selling on rise can be a good decision for the day. 1695 will be an important level to watch respect would confirm a primary rally till 1800 and more in very short term. Long term trend will remain bullish. Silver comex: silver has also broken out the upper band of 33 and headed 35.60 marks during last week. But 33-32.80 zone will remain important support for now a respect would confirm a primary rally till 37.50-39 in ...

USD/INR:  technically inr looking strong against us dollar, currently trading at 48.875 today opened gap down. Making bearish engulfing on weekly chart. Immediate support seen at 48.60 a failure below 48.60 would confirm a decline till 47.70 for retest of primary support.  Trend will remain down in this counter.  Silver comex: intraday trading range between 34-36. Yesterday nice breakout seen above 34 that is suggesting 33 as a nice support for coming days and rally will try to lead towards 38-39 in short term . For intraday 34.80 looking a good immediate support below this it will try to retest primary support around 33.70 during the day. Above 34.80 trend will remain up and expected levels are 36-36.80 for the day.  Gold comex: Gold currently trading at 1742.80 intraday trading range 1690-1790, trend bullish buy on decline will be good, immediate strong res. At 1750-52 till not crossing that resistance. A retest of 1710-1690 range is possible. Above 1752...

By looking at weekly simple bar chart it seems that USD INDEX is moving in a inverse head & shoulder formation and making a nice bar reversal on weekly chart. If this week dollar index manages to close above 76.60 marks then this week can be a nice reversal day and a rally till 85-87 zones would confirm.  As per dollar index weekly analysis we can expect that if price moves in our way then some weakness we will see in gold also and gold may decline till 1480-1250$. Before taking any trade don’t forget that we are analyzing weekly chart so this pattern may take 16-18 months to develop. 

I was just spending time with charts for some good trading ideas for special session of mhurat trading. I visited to daily chart of  Dow Jones ind avg.and found a nice failure of bullish swing near resistance area with a bearish bar reversal confirmation followed by stochastic over bought readings. As per these conditions it seems that today’s trading day can prove a good reversal. Failure near important resistance line with fundamental confirmation of worst consumer confidence data are suggesting that today’s day can be a final day for this bullish move and trend can reverse. All these conditions are suggesting that we have to trade with negative outlook during mhurat trading in domestic markets.   I will post another pitch report after Asian market closing . If you feel that these updates are really helpful for you then don't forget to leave your valuable feedback. 

After a deep analysis of gold weekly, daily and intraday 240 minute chart i found that gold is still bounded in a range of 1650-1720 zones. a nice drop seen in gold prices few weeks ago and and now it is trying to retest of its previous support (now resistance) of 1700 mark. on intraday 240 minute time fame its bounded in a range between 1650-1685, a breakout above 1685 would confirm an advance till 1704-1722 zones. a failure near immediate resistance around 1685 would signal a decline and gold will try to test 1632-25 mark in very short term and this failure near resistance 1685 may invite more sellers to streets and gold may decline further till 1500-1480 area. After a successful breakout above 1685 level an advance till 1704-1722 levels can't be ruled out. as per intraday hourly chart gold is moving in a range of 1685-1652 since 11-10-2011 and making a possible head and shoulder reversal pattern, head of this pattern is at 1692.10 made on 12-10-2011, and neckline support seen ...

Silver moving in a ascending triangle on 240 after a sharp bearish move till 26$ and facing resistance at 33.30 zones. Yesterday’s high 33.03 was 2 nd attempt to this resistance line and a nice selling pressure seen from that res. Area now level to watch is 31.20 zones for more down. Below 31.20 it would confirm a decline till 29-26$. Macd indicator is also struggling near zero line and getting ready for a bearish cross over that is suggesting a valid break of this support line till silver trading below 33.30 I would like to book full profit in all longs taken by me and will wait for a fresh entry after breakout. As per this trade setup your stop loss will be 33.60 zones for targeting around 29.30-26.50. your suggestion and feedback will increase my confidence and inspire me to give best results. If you like this post then don't forget to leave your comment and share my blog with your friends and fellow traders.If you stuck in any wrong trade, send your queries to me...

As I have wrote about crude in my previous of September 17,2011 that I am expecting a fall of 10-15$ from current levels when it was trading around $88 mark. Now again crude is struggling near same down sloping trend line on daily chart and nice descending triangle formed on scale. That is suggesting 87$ as a very stiff resistance above 87 it would confirm an advance till 91 -100 dollars in coming days but 91$ will play an important role for 100$. Why 91 is so important??  Crude made $74.94 low during this swing and nicely reversed from bottom area of 75$ with double bottom confirmation and a break above 91 would confirm neckline breakout of this double bottom formation that will attract more bulls to the streets. This is the 4 th attempt to its down sloping trend line and crude is now struggling. If crude spends some time below 83.80 mark then a failure may occur and crude may slide again till $80-75 below 75 if manage to hold then a retest of 68-66 can’t be ruled out....

Gold comex: gold is still bounded in a range of 1595-1680 a clear move will occur only after breakout of these ranges. Gold was not able to break 1625 mark during Friday fall as we were expecting 1625 area is good support zone and gold made 1626.20 as day low and nicely jumped from our said support area. Today expected trading range for gold is between 1600-1680. Immediate resistance seen at 1655 a break above 1655 will take it to 1664-1675-78 zones. Immediate support seen at 1645 a failure below 1645 will again take 1632-25 zones. 1625-23 area is looking good support zone if gold manage to break 1623 level with volumes then a retest of 1608-1603 zones possible for the day. Buying above said immediate resistance will be good idea otherwise avoid buying. Silver comex: as I wrote on Friday that till silver trading below 32.50 looking weak and a retest of 31.30-30.80 zones is possible and during evening session a nice slid seen in silver and silver made 30.70 as day low during the day. ...

Gold CEMEX: currently trading at 1659 expected intraday trading range between 1620-1700, immediate support seen at 1655, after a failure below 1648 will take it to 1632-25 zones.   Upside major resistance at 1680 a penetration above this level will take it to 1700-1720 area. This swing is open for 1670-80 zones further move will confirm only above 1680 zones if manage to sustain. Silver CEMEX: currently trading at 32.10 intraday expected trading range between 30.30- 32.50, immediate resistance seen at 32.50 above 32.50 this swing is open for 33.40-33.60. till trading below 32.50 a retest of 31.20-30.80 zones is expected. 

Comex gold: currently trading at 1651.90 looking bullish and this really may take it up to 1672-1680 zones if gold manage to hold above 1680 then a rise till 1700-1730 zones is likely, immediate support seen at 1638 a break below 1638 would signal an intraday decline till 1622-1610 range. USD index has broken important support that is supporting short term bullish view on gold Silver come: currently trading at 31.07 immediate resistances seen at 31.50 if silver manage to hold abv 31.50 then it would signal an advance till 33.50-33.70 zones. $30 is looking good support for this view below 30$ then it would confirm at sideways moment between 28-31.50. Momentum is positive on very short term time frame buying in dips will be good idea for expected targets 31.30 to 33.30. 

USD index has broken important support on very short term time frame that is suggesting near term consolidation in coming days. 78 is looking good support and reversal point, a failure below 78.10 would signal a decline till its primary support of 77 major resistance seen at 82 zones a penetration above 82 zones would signal an advance till 88

Comex gold cmp 1623 it has broken down sloping trend line resistance of descending triangle, now suggesting target 1670-78 zones if manage to hold above 1635, a break below 1595 is unlikely , if manage to hold below 1595 then 1580-1502 will be next destination , usd index is looking weak technically some selling pressure may appear in streets if manage to hold below 78.75 that will be a supportive sign for gold bulls cmp 79

Gold comex : intraday trading range is between 1580-1660 , currently trading at 1627.90. Yesterday gold broken rising trend line support of ascending triangle and low made 1595.77 and we were expecting 1595 as 1 st support after break below 1630 now as per this breakout next major support seen at 1502 levels. Very short term trend is down and 1640 is looking very important intraday resistance above 1640 gold may rise up to 1660-65 zones overall counter is looking weak and a retest of 1580 is possible during intraday trading. Below 1580 no major support before 1532-1502. 

Ascending triangle during down trend suggesting that gold will try to resume its preceding trend after a failure below 1630  gold may fall till 1595-1502 zones, penetration above resistance line is unlikely , if manage to hold above 1680 then a rally up to 1720-33 can’t be ruled out.