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Saturday, October 15, 2011

MCX Bullion Technical Report For 17th To 22th Oct 2011

GOLD MARKET OVERVIEW
COMEX Gold is in a technically consolidating on charts for short term. Last week COMEX Gold was trading in a range from 1650$ to 1695$. In the coming week 1600$ will act as a major support in COMEX Gold and 1840$ will act as a major resistance.
GOLD STRATEGY
For the next week traders can use buy on lower level strategy if COMEX Gold sustains above 1655 $ an ounce, then  above 1695 $ it can test the level of 1710$/1735 $ an ounce. And in MCX Gold above 26930 it can test the level of 27100/27250/27450. Trade by keeping the strict stop losses.
 Major support for COMEX Gold in the coming week is 1530$ and 1470$.
 Major resistance for COMEX Gold in the coming week is 1840$ and 1880$
 Major support in MCX Gold is 24900 and 24500
Major resistance in MCX Gold is 28300 and 28800
SILVER MARKET OVERVIEW
COMEX Silver is in a slightly downward in trend. Last week COMEX Silver was trading in a range for the whole week. For the upcoming week 2600 $ and 2400$ are the crucial supports and 3800$ and4100$ are crucial resistance in COMEX Silver. In MCX Silver, 62000 and 65000 will act as major resistance and 45000 and 42000 will act as major supports.
SILVER STRATEGY
Technically COMEX Silver is weak on charts. For the next week traders can use buy on lower level strategy if Silver sustains above the level of 3150$ an ounce, then above 3180$ COMEX Silver can test the level of 3240/3290$ an ounce. And in MCX Silver sustains above 53700 then it can test the level of 54500/55500/56800, Trade by keeping the proper stop losses.
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MCX Bullion Newsletter and Tips For Monday 17th Oct 2011

GOLD POSTS BIGGEST GAIN IN 6 WEEKS ON EUROPE HOPES.
OIL GAINS ON EUROPE HOPES, US SALES DATA.
COPPER HITS 2-WEEK TOP ON CHINA INFLATION OPTIMISM.
INDIAN SPICES COMPLEX TRADE BEARISH.
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MCX Bullion Metals Trading Strategy and Technical Analysis Today

Gold Technical Analysis
Resistance :- MCX gold seeming first resistance 26570 and second near about 26480.
Support:- First support should be near about 26490 and second close with 26320.

Gold Trading Strategy
Bullion metals declining when dollar become strong.
Gold edges higher on Euro debt concern.
Gold and Silver both will trade when dollar strength.
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MCX Bullion Weekly Technical and Fundamental Report 17th Oct To 22th Oct 2011

MCX Bullion Weekly Technical and Fundamental Report 17th Oct To 22th Oct 2011
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In this I marked the prediction chart of this week that where Gold and Silver Trade with in or on which levels after analysis festivals session of India and new year of China including Global Commodity Market overviews.
 
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