Gold & silver daily levels - aravinthrajm

aravinthrajm

aravinthrajm

Member
#1
#1
Dear traders,

You can find this thread getting updated daily with international Spot Gold & Silver levels. I will be posting the performance also.

If you find it useful please reply.
 
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aravinthrajm

aravinthrajm

Member
#2
#2
Attached is 1 hour chart of Gold & Silver on 20.05.2009.
 
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aravinthrajm

aravinthrajm

Member
#3
#3
I am starting with yesterday's levels and performance. Everyday this thread will get updated in the morning before MCX opens. My suggestion is to trade in MCX based on netdania prices and levels posted here. Any clarifications please post your queries.
 
aravinthrajm

aravinthrajm

Member
#4
#4
Gold rallied on the back of weak jobless claims data. It made a high of $954 intraday and closed above crucial resistance of $950. Chances of testing $963-$966 is not ruled out. As long as Gold stays above $908 the view is bullish and Gold can retest $990 levels.

LEVELS FOR 22.05.2009:

950 above 961-963-966-969-975.

940 below 927-924-919-914-908.
 
aravinthrajm

aravinthrajm

Member
#5
#5
Silver made a high of $14.54 intraday and closed above $14.47 which is a strong resistance. Profit booking is expected at 14.60 and any cross above this would be a intraday rally and a cool off can come at the end of the day.

Trade safe in Silver.

LEVELS FOR 22.05.2009:

14.47 above 14.67-14.69-14.84-14.94.

14.32 below 14.20-13.99-13.90-13.82.
 
aravinthrajm

aravinthrajm

Member
#6
#6
aravinthrajm said:
Silver made a high of $14.54 intraday and closed above $14.47 which is a strong resistance. Profit booking is expected at 14.60 and any cross above this would be a intraday rally and a cool off can come at the end of the day.

Trade safe in Silver.

LEVELS FOR 22.05.2009:

14.47 above 14.67-14.69-14.84-14.94.

14.32 below 14.20-13.99-13.90-13.82.
Click to expand...
As expected Silver came down after crossing $14.60. Have to do my homework for Monday levels.

Performance - Silver 1 hour chart
 
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aravinthrajm

aravinthrajm

Member
#7
#7
Performance - Gold 1 hour chart
 
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aravinthrajm

aravinthrajm

Member
#9
#9
To trade my levels just follow the tips,

-> do the trade only once on breaking the support or resistance
-> do not tape read (trading again in a band)
-> once supp 1 is broken, keep sell trigger point as sl and once supp 2 is broken, keep supp 1 as sl and so on
-> the same strategy applies for upside also
 
aravinthrajm

aravinthrajm

Member
#10
#10
SPOT GOLD LEVELS FOR 25.05.2009

956 above 963-968-973.
(Strong Res-963,973)

955 below 950-944.
(Strong Supp-944)

Gold made a high of $961 on the back of continuous buying support. Target of $990 is visible as long as we are staying above $924. Consolidation zone is placed between $924-$908. Keeping $924 as stoploss one may enter Gold as positional trade above $963 for the week. USA markets are closed today and this may halt the Gold movements for the day.
 
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