22 th may view on #gold #silver

18 th may view on Gold & Silver

Gold 

Major zone for recovery 1950$ and 1965-70$ 

Weakness will be continued for 1950 if 1970$ break 

In mcx major support 59730 

60000 achieved now  

In silver MCX 23.2$ at current support 

And final also 

If break this too then 22.19$ can be possible downside 

Avoid long side entry and if stuck hold them 

At time of recovery average it out 

Imp. DATAS 

Initial jobless claims at 6pm 

Existing home sales at 7:30

view 12 th may commodity ( downword move can start here)

Good morning

Gold - Gold at 2010$ at current after the Initial Jobless Claims data some weakness we can see clearly here 

If gold fall below 2000$ it will surely go down to 1975$ 

In system Gold MCX have some weakness 

Avoid fresh longs and enter in shorts side after giving signal 

USDINR have strength at current

Mcx price can stuck in a range 

Silver- silver fall yesterday and broke major zone 24.6$ support 

Now 23.7$ and 23.2$ is major support zone 

If stuck buy side then wait for recovery 

Weekly closing should be above 24.28$ 

In MCX Silver start downtrend AFTER 74500 zone broke 

Now important major support 73400 

If it's break then 72100 and then 70000. 

Expiry have more then 2 months if stuck buy side wait for long side entry to Average this

WHY YOU SHOULD HAVE A SYSTEM WHEN TRADING #EDUCATION

In Commodity After Every 3-4 years there is a bullrun 

Which is a nightmare for range traders (who have a idea of moving gold in 3000 points and silver in 7-8000 points ) 

So when there is a trend continues they stuck 

If stuck buy side then it's less risky but sell side it can be a squeeze in or highly risky for overall health 

Commodities have global impact 

Trading in commodity Less risky then Stocks but only rewarding  when traded with proper risk management

Without a system a big move won't be captured and losing an opportunity cost also impact the overall performance 

Having a system is necessity for TRADING 

Buying on support and 

Selling on resistance not work all the time

 

 

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view for may in gold and silver

Good morning 

Gold at 1988$ 

In mcx currently at very crucial zone 

Downside reversal possible below 59500 

(Only closing basis)

Major support zone 59680-700 

Upside resistance 60400 

Trade in lighter qty. And hold for longer trade 

Do not be long side below 59500-400 

In gold. 

Silver - silver is making flag - Penants formation in comex 

If Breakout happen then a sudden 3-4% move can be possible at this price 

Dont be long below 24.5$ (closing basis) 

In mcx don't be short side below 72700

copper view for April month

Copper will touch 788 zone above closing above 790 , can push is towards 830 zone , currently in Rev. H&S pattern prefer buy only

13 April view commodity

Good morning

Gold at 2017$ 

Hold longs and trade on decline only or on signal 

In MCX

View long side and 

Silver similarly 25.9$ important resistance zone better keep long and book near the zone 

In middle entry and exit can be painful  

Crude view already shared