Gold Short term view

Gold Comex Yesterday Re-tested The Recent Double top High of 1251 $ which is now a triple top On daily Charts

A Strong Resistance to Cross Over-1251--1253 Zone
Closely looking at daily Charts it has also formed a Cup handle pattern Suggesting that breakout above 1251-1253 zone & sustained trading above Same Can take it to 1281 $--1312 $ In short term
Failure to Cross Over above 1251 and close above it for two days could negate the pattern. On Downside if Manages to Break 1227 $ it can lead to Re-test of Recent Lows Near 1205--1164 $ .
As Far as 1227 $ is held on closing basis Look to Trade on upside for targets of 1281 $--1312

Silver Short term view

askchirag.com : Silver view short term :

Everywhere People are Talking about the Massive Head & shoulder formation in Silver comex on daily charts which is a Bearish pattern and Silver Could Fall Down to 14.25 levels But technically speaking The massive breakdown Will come only If silver trades constantly below 18 $ and than breaks the important Support level of 17.05 $ (Neckline of head & shoulder pattern) , A Break below 17 $ will Confirm the above Pattern and open Downside targets till 14.25 $--but Contradicting to above pattern it has formed a massive Inverted head & shoulder pattern With Neckline near 18.75 $ , a break above Same can open upside targets till 19.8 $--21.44 $
So overall currently trading at 18.55 $ technically its in a neutral zone and next big move would Only happen if manges to close above 18.75 $ or break below 18 $ till than would be Range bound
Looking at RSI charts its constantly reversing From 40 Zone which generally tends to Happen in bullish phase So looking to Trade it more buy on dips till time 18.00 $ is not Broken

Short term Reco : Buy silver at 18.5 $ SL of 18 $ Look for 19.8 $--21.44 $

Crude Short term view

Crude Short term technical views

Crude made a low of 67 $ on 25th Way after falling From the cliff of triple tops made at 87.25 $ and Sharply bounced back to 75.6$ later Falling back to make a higher bottom at sub 70 levels and bounced back to 74 levels, breaking the short term Falling Trend Line Resistance . If in next Few Days Crude if manages to Cross over 75.6 $ than a medium term Bottom Could be in Place and on upside could give a sharp move to 79.5 & 81 $

Resistance Levels: 75.6 (short term top)—76.95 (50 % Retracement levels of complete Move From 87.25-67$)---79.5$(61.8- Retracement levels of complete Move From 87.25-67$)--- 81 $ ( a Higher top Above Short term top)

Supports Levels: 72.5 $ - Support From Falling trend line which was resistance before -69.3 $ short term Bottom

Looks like Crude is all Set for a Big Rally again till 81$ and 83.4 $, Looking to Trade it on upside with Stop Below 71 $ For and Look to Enter on Dips in Range of 73-74 $

On MCX if Crude Manges to Close above 3410 Can Slow and Steady Rise till 3640--3710 Lvls

MCX Supports Resistance Levels

Comex Gold : Trend Sideways Consolidation - Range Bound
Range: 1190--1220
Resistance Levels : 1220--1128-1236
Supports: 1190-1196-1204-1212

MCX gold : Double top @ 18850
Trend : Trend Sideways Consolidation - Range Bound
Resistance :18700-18850
Support: 18250-18333-18514

Comex Silver : Important Support at 17$
Trend : neutral
Trend Reversal levels 17.64 $
Trading levels : 1700-1717-1733-1741-1764

MCX Silver : Trend Sideways to Consolidation
Trend Reversal Bullish only abv 28700
Important Support at 27900 Below that weak
Trading levels : 27900-28050-28130-28264-28490-28700


Nymex Crude : Trend Buy on Dips
Trading Levls : 69.4-70.15-71.4-72.6
Important Resistance - 71.4 Above that Expect some short covering till 72.6

MCX crude : Trend Buy on Dips
Trading levels : 3340-3368-3391-3410
Important Resistance : 3410


BASE METALS

Copper : Trend Weak - Important Resistance 298 ,Close above same one can Expect Trend Reversal.
On downside 281 Important Support

Lead : Trend Weak - Highly oversold
Expecting Some value buying at lower levels Near 72-73 Zone , Resistance at 75 above which can expect Some short covering till 77.35
Trading levels : 72.5-73.4-74.6-75.3-76-77.35


Zinc : Trend Weak - Highly oversold
Expecting Some value buying at lower levels Near 75, Resistance at 76.8 Above which Can Expect Short covering till 79.8 levels
Trading levels: 75.3-76.1-76.8-78.4-79.8

Nickel : Trend weak - Oversold
Important Support near 800- 821 Levels , One Can look to Take Longs near those levels With Sl below 790 for Trading bounce back till 875 levels
Trading levels - 800-821-838-844-861-874-891