MCX Gold June Contract is looking negative for the day.
Market may find support near 29140 & 29040; intraday resistance can
be seen near 29290 & 29400. Day traders are advised to sell
intraday on rise. (Sell around 29290 with SL 29400, for the target of
29140 & 29040.)
Friday, 12 April 2013
Thursday, 11 April 2013
Gold news
Trend updated for-Apr/12/2013.CMP-28974 Overall
trend of the Goldm is bearish for medium-long term .Currently Goldm
is moving sideways The Goldm is now trading in overbought level. The
Goldm is now trading in overbought level. The oscillator is showing
BUY signal and has moved down its previous low with good volume
points to a negative break out . The Goldm is now trading in
overbought level. The Goldm is now trading in overbought level. The
oscillator is showing BUY signal For short term Goldm is in SELL
position and Goldm closed below 1 week low with volume signals down
breakout.Positionally Immediate support for Goldm is 28755.Resistance
for the Goldm is 29328-29425-29537-29613-29942-30160-
Goldm and closed below 1 week low with volume
signals down breakoutCurrently Goldm is in HOLD SHORT position
The Goldm is in downtrend For short term buy only if close above
29351.0 The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 29147.3 with a stop at 28858.6 Below 28801.1 go for sell
Intraday Resistance of GOLDM are 29089.2/29184.8/29316.1/29401.8
Intraday Support of GOLDM are 28858.8/28763.2/28635.2/28550.7
Intraday Trend- Buy is advised above 29147.3 with a stop at 28858.6 Below 28801.1 go for sell
Intraday Resistance of GOLDM are 29089.2/29184.8/29316.1/29401.8
Intraday Support of GOLDM are 28858.8/28763.2/28635.2/28550.7
Wednesday, 10 April 2013
Gold news
Trend updated
for-Apr/11/2013.CMP-29025 Overall trend of the Goldm is bearish for
medium-long term .Currently Goldm is moving sideways The Goldm is now
trading in overbought level. The Goldm is now trading in overbought
level. The oscillator is showing BUY signal .In last 1 month
volatality is very less Buy the Goldm above 29818 or buy with strict
stop at 28524. The Goldm is now trading in overbought level. The
Goldm is now trading in overbought level. The oscillator is showing
BUY signal For short term Goldm is in SELL
position.Positionally Immediate support for Goldm is 28524.Resistance
for the Goldm is 29368-29473-29556-29641-29966-30182-
Goldm and closed below 1 week low with volume signals down breakoutCurrently Goldm is in HOLD LONG position Goldm has formed a new 5 day low yesterday but failed to keep the trend so if selling has to considered better below28687.8 Buy if above 29568.0 The oscillator is showing SELL signal
Intraday
Trend- Buy is advised above 29363.3 with a stop at 28827.4 Below
28687.8 go for sell
Intraday Resistance of GOLDM are 29304.7/29536.8/29508.6/29594.5
Intraday Support of GOLDM are 28745.3/28513.2/28825.4/28740.6
Intraday Resistance of GOLDM are 29304.7/29536.8/29508.6/29594.5
Intraday Support of GOLDM are 28745.3/28513.2/28825.4/28740.6
Gold has strong resistance at USD 1664.5: Mangal Keshav
Mangal Keshav has come out with its report on metal, Crude oil and Natural Gas. According to the research firm, spot Gold
prices are currently trading below their long term simple moving
averages (SMA’s), indicating that the trend remains bearish. Strong
resistances are seen at USD 1664.5-1608.6 and USD 1 649.
Gold advanced to a 1-week high while silver jumped the most since January, on speculation that central bankers in major economies will take more steps to bolster their economies, boosting safe haven demand for the metals. Gold holdings of SPDR gold trust, the largest ETF backed by the precious metal, declined to 1,200.37 tons, as on April 9. Silver holdings of ishares silver trust, the largest ETF backed by the metal, declined to 10,497.59 tons, as on April 5.
The dollar pulled back against the Japanese currency & other rivals while the greenback is likely to hit the psychologically important 100- yen level on the wake of Japan’s aggressive monetary-stimulus efforts. The ICE dollar index, which measures the greenback against a basket of six major rivals, fell to 82.325 from 82.752 on late Monday. Japan's central bank unveiled a USD1.4 trillion stimulus plan last week, prompting speculation that cash will spill over into other regions in search of higher bond yields and not in assets denominated in the rapidly depreciating Japanese yen.
Copper hit its highest since late March while other metals too were up after the Chinese inflation data, which underpinned a steady but modest seasonal recovery in metals demand. Copper futures for May delivery closed up by 2.1percent at USD3.4415 on the COMEX division of the NYMEX. Crude oil futures recovered from early losses to top USD94 per barrel, as Iran fed worries about global supplies, outweighing pressure from high US inventory levels ahead of weekly supply report.
Expected inventories: Crude oil +1.2mn barrels, Gasoline -1mn barrels & Distillate -1.2mn barrels. Crude oil inventories gained 5.1mn barrels, gasoline supplies rose 1.96mn barrels while distillate inventories, a category that includes heating oil and diesel, slid 1.3mn barrels, as per API report. Natural gas futures declined for the for second straight session, as investors took profits amid mild weather forecasts for the eastern half of the nation, but concerns about below-average inventory levels limited major downside.
Technical Alerts-
Gold: June futures dropped close to 29,100 levels last week, but failed to break the given level & recovered sharply towards 50-day SMA at 29792, but prices still hold crucial resistance of 30,300 & trend remains down till the given level holds. Other Resistance are seen at 30,809 (200-day SMA) & 30,295 (100-day SMA).
Spot Gold Prices are currently trading below their long term Simple Moving Averages (SMA’s), indicating that the trend remains bearish. Strong resistances are seen at USD1,664.5 (200-day SMA), USD1,608.6 (50-day SMA) & USD1,649 (100-SMA day).(moneycontrol)
Gold advanced to a 1-week high while silver jumped the most since January, on speculation that central bankers in major economies will take more steps to bolster their economies, boosting safe haven demand for the metals. Gold holdings of SPDR gold trust, the largest ETF backed by the precious metal, declined to 1,200.37 tons, as on April 9. Silver holdings of ishares silver trust, the largest ETF backed by the metal, declined to 10,497.59 tons, as on April 5.
The dollar pulled back against the Japanese currency & other rivals while the greenback is likely to hit the psychologically important 100- yen level on the wake of Japan’s aggressive monetary-stimulus efforts. The ICE dollar index, which measures the greenback against a basket of six major rivals, fell to 82.325 from 82.752 on late Monday. Japan's central bank unveiled a USD1.4 trillion stimulus plan last week, prompting speculation that cash will spill over into other regions in search of higher bond yields and not in assets denominated in the rapidly depreciating Japanese yen.
Copper hit its highest since late March while other metals too were up after the Chinese inflation data, which underpinned a steady but modest seasonal recovery in metals demand. Copper futures for May delivery closed up by 2.1percent at USD3.4415 on the COMEX division of the NYMEX. Crude oil futures recovered from early losses to top USD94 per barrel, as Iran fed worries about global supplies, outweighing pressure from high US inventory levels ahead of weekly supply report.
Expected inventories: Crude oil +1.2mn barrels, Gasoline -1mn barrels & Distillate -1.2mn barrels. Crude oil inventories gained 5.1mn barrels, gasoline supplies rose 1.96mn barrels while distillate inventories, a category that includes heating oil and diesel, slid 1.3mn barrels, as per API report. Natural gas futures declined for the for second straight session, as investors took profits amid mild weather forecasts for the eastern half of the nation, but concerns about below-average inventory levels limited major downside.
Technical Alerts-
Gold: June futures dropped close to 29,100 levels last week, but failed to break the given level & recovered sharply towards 50-day SMA at 29792, but prices still hold crucial resistance of 30,300 & trend remains down till the given level holds. Other Resistance are seen at 30,809 (200-day SMA) & 30,295 (100-day SMA).
Spot Gold Prices are currently trading below their long term Simple Moving Averages (SMA’s), indicating that the trend remains bearish. Strong resistances are seen at USD1,664.5 (200-day SMA), USD1,608.6 (50-day SMA) & USD1,649 (100-SMA day).(moneycontrol)
Buy MCX Gold at Rs 29650; target Rs 29740
Dani Commodities has come out with its report on bullion, metals and energy. According to the research firm, one can buy MCX Gold at Rs 29650 with a stop loss of Rs 29600 for the target of Rs 29740.
Indian Cotton Federation Reduces Cotton Production Estimates To 326 Lakh Bales For 2012-13: As per the latest estimate by Indian Cotton Federation , Indian cotton production for 2012-13 is currently estimated at 326 lakh bales against 330 lakh bales projected by the Cotton Advisory Board (CAB) . Indian Cotton Federation estimated the Gujarat crop at 83 lakh bales , down 2 lakh bales from CAB estimates while Maharashtra at 74 lakh bales, down 1 lakh bales from other projections.
MCX GOLDInternational: Major Support at USD1580. Bearish below USD1580.
Domestic: Buy at 29650, Stoploss 29600, Target 29740.(Moneycontrol)
Indian Cotton Federation Reduces Cotton Production Estimates To 326 Lakh Bales For 2012-13: As per the latest estimate by Indian Cotton Federation , Indian cotton production for 2012-13 is currently estimated at 326 lakh bales against 330 lakh bales projected by the Cotton Advisory Board (CAB) . Indian Cotton Federation estimated the Gujarat crop at 83 lakh bales , down 2 lakh bales from CAB estimates while Maharashtra at 74 lakh bales, down 1 lakh bales from other projections.
MCX GOLDInternational: Major Support at USD1580. Bearish below USD1580.
Domestic: Buy at 29650, Stoploss 29600, Target 29740.(Moneycontrol)
Gold news
Trend updated
for-Apr/10/2013.CMP-29647 Overall trend of the Gold is bearish for
medium-long term .Currently Gold is in strong downtrend and the trend
is supported with good volume The open interest is not increasing
with trend .. The Gold is now trading in overbought level. The Gold
is now trading in overbought level. The oscillator is showing BUY
signal For short term Gold is in HOLD LONG position.Positionally
Support for the Gold is 29377-29353-29280-.Resistance for the Gold is
29815-30100-30343-
Currently Gold is in HOLD LONG position Gold
is in profit booking mode so hold with stop at 29545 The Gold is now
trading is approaching overbought level. The oscillator is showing
BUY signal
Intraday Trend- Buy is advised only above 29869 with a stop at 29506.7 Below 29425.6 go for sell and put stop at 29787.7
Intraday Resistance of GOLD are 29809.4/29944.2/29945.8/30032.4
Intraday Support of GOLD are 29484.6/29349.8/29257.6/29172.1
Intraday Trend- Buy is advised only above 29869 with a stop at 29506.7 Below 29425.6 go for sell and put stop at 29787.7
Intraday Resistance of GOLD are 29809.4/29944.2/29945.8/30032.4
Intraday Support of GOLD are 29484.6/29349.8/29257.6/29172.1
Tuesday, 9 April 2013
Gold news
MCX Gold
June Contract is looking negative for the day. Market may find support
near 29460 & 29350; intraday resistance can be seen near 29640 &
29750. Day traders are advised to sell intraday on rise. (Sell around
29640 with SL 29750, for the target of 29460 & 29350.)
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