Showing posts with label askchirag. Show all posts
Showing posts with label askchirag. Show all posts

Sunday, August 7, 2011

Gold & Silver Charts , Gold Could be near a short term top

Gold Makes a Run away , Exhausation gap at open today and manges to Cross the Longterm weekly Resistance of 1684 which was very Crucial level For bears , Expecting  high Volatility in Intraday Now coz of short Covering Which can take prices up will 1707--1716 , which Co-incides with wave Levels of 5=1 . A Failure to close abv 1716 Could be indiaction of Medium term top in Close and Push Prices DOwn till 1525 which would be 23.6 % retracement of Complete Move of decade , if we C the Prices pushing Higher abt 1716 could be a extended 5th which can go higher till 1781 than

Silver : Explanation on Charts

Saturday, July 23, 2011

Copper Weekly Medium term Update

Copper Prices After topping out For medium Term at 10150 LME prices Corrected till 8400 Levels in wave A of 2 , Now Looks like to have Completed the Corrective   Wave B at 9640 of wave (2) . Failure to Cross The Recent highs Could Push price Again Down till 8400 & 7700 in Medium term as wave C which mark end of Wave (2)

Monday, June 27, 2011

Daily Trading Levels , MCX Supports And Resistance , Commodities , Base Metals


Copper : Trend Sideways - Range Bound - 
Important Resistance 411-412 ,Close above same one can expect levels of 419-420.
On downside 398-399 Important Support range. Below which we can test 385/390
Levels on upside   405-408.5-411-413

Lead : Trend Up
Lead reverses from major resistance zone given earlier  Major Resistance zone remains at 116-116.5
Sustained move above 116-116.5 can do 118.5-119 on upside
On downside 112.5-113 support for intraday.. 107.5-108 Major Support range for the comm

Zinc : Trend Slightly Bullish
Zinc reverses from major resistance zone given earlier  Major Resistance zone remains at 116-116.5 
ABove 101.5 if sustains then may do 103-103.5
MInor Support at 98-98.5. On downside 95-95.5 Important Support range

Nickel : Trend Sideways 
Important Support near 955-960 Levels , Major Resistance zone 1000-1005 on Upside
Nickel buy above 1000-1005 range with stop of 990, can do 1035/1040 on upside 
Trend Reversal if it closes above 1010.. Levels on downside 980-960-950

Tuesday, April 5, 2011

#Silver medium term view

Looking at silver weekly charts for past decade the rally which started from almost 3.50 $ to current price of 38.5$,it clearly looks likes near end of extended massive bull run of 5 waves and now could get into corrective phase (wave 2 a-b-c ) for next few months. Any new high on silver would be a good sell opportunity or a break of 36 dollar would confirm a medium term top and we could look at short term downside targets of 32.5 $ and 27 $

Snapshot :

#silver break of 36$ could confirm a medium term top & correct down till 32.5$ and than 27$ , $slv , Good sell on rise #askchirag any new highs or rallies good setup to create shorts