GOLD Technical Analysis

Posted by Bhupendra Adhav on Tuesday, September 28, 2010

Market Overview


COMEX Gold is in an upward phase. Last week COMEX Gold sustained above level of 1270$ and made a high of 1301$ an ounce. In the coming week 1260$ will act as a good support in COMEX Gold, if COMEX Gold sustain above 1260$ an ounce then above 1305$ an ounce it can touch the level of 1320$ an ounce and below 1260$ if COMEX Gold sustains then it can slightly correct and test the level of 1240$ an ounce.

Strategy

For the next week traders can use buy on lower level strategy if 
COMEX Gold sustains above 1260$ an ounce, above 1305$ it can 
further go upward and can test the level of 1320$ an ounce. Trade 
by keeping the strict stop losses. 
Major support for COMEX Gold in the coming week would be 
1260$ and 1210$. 
Major resistance for COMEX Gold in the coming week would be 
1310$ and 1335$ 
Major support in MCX Gold is 18500 and 17900 
Major resistance in MCX Gold is 19300 and 19550


SILVER  Technical Analysis 


Market Overview

COMEX Silver is in an upward phase. Last week COMEX Silver 
made a new lifetime high and made close near to its high of 
2149$ an ounce. For the upcoming week 2100$ and 1940$ are 
the crucial supports and 2180 $ is a crucial resistance in COMEX 
Silver.

Strategy

For the next week traders can use buy on lower level strategy if 
Silver sustains above the level of 2100$ an ounce, and above 
2150$ an ounce it can further go upward. Trade by keeping the 
proper stop losses.


CRUDE OIL  Technical Analysis 

Market Overview

NYMEX Crude is consolidating on charts. Last week Crude Oil 
sustained on its week high and made a close near to its high. For 
the coming week 70$ will act as major support and 80$ a barrel 
will be a major resistance.

Strategy

For the next week traders can use sell on higher level strategy, if 
NYMEX Crude does not break the level of 78$ a barrel then below 
the level of 70$ a barrel then it might test the level of 67$ a barrel. 
Trade by keeping the proper stop loss.

COPPER  Technical Analysis 

Market Overview

Copper is in an upward consolidation phase and traders should 
use the strategy of buying on lower levels. If next week COMEX 
Copper sustains above the level of 355 then above the level of 368 
Copper can test the level of 380. In MCX Copper above 372 
Copper can test the level of 383 if it does not break the level of 347 
on the downside.

Strategy

For the upcoming week 368 and 391 will act as major resistance 
and 334 and 316 will act as major supports in COMEX Copper. For 
MCX Copper major resistance would be 372 and 388 and 
supports would be found at 347 and 328.



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