Gold & silver daily levels - aravinthrajm

[aravinthrajm]

SPOT SILVER LEVELS FOR 25.05.2009

14.62 above 14.83-14.94.
(Strong Res-14.94)

14.62 below 14.47-14.41-14.36
(Strong Supp-14.47, 14.36)

As said Silver made our target of $14.60. It crossed $14.60 with volumes and made $12.80+ and cooled off as expected and came down till $14.69. Apply caution in Silver as it has to stay above $14.36 for this week. As long as $14.36 stays intact, Silver can try to do $14.94 soon. It is always better for any scrip to consolidate once before a rise. If it gives a straight rise then we need to face a straight fall also.

 

[aravinthrajm]

GOLD LEVELS FOR 26.05.2009

964 above 968-973-990-993.
(Strong Res-973, 990, 993)

955 below 951-947-944-939-927.
(Strong Supp-944, 939, 927)

Gold has not moved significantly yesterday due to Holiday in US markets. Seeing the price movements of yesterday, Gold charts say that a correction is likely to come but, since it was a holiday yesterday we hold a neutral view. Any trigger below $955 could initiate profit booking in Gold for today. Overall trend is Bullish with a target of $993 as long as $924 holds good. $924-$908 is a consolidation area.

 

[aravinthrajm]

SILVER LEVELS FOR 26.05.2009

14.67 above 14.79-14.90-14.94.
(Strong Res-14.94)

14.67 below 14.56-14.47-14.44-14.37.
(Strong Supp-14.47, 14.37)

Silver seems to move towards $14.94 in coming days but still we apply caution on Silver on the back of profit booking which could plunge in anytime. Keep tight Stoploss at $14.69. Any trigger below $14.67 will make Silver weak for the day and consolidation will happen before any breakout or breakdown.

 

[aravinthrajm]

Performance

 

[aravinthrajm]

SPOT GOLD LEVELS FOR 27.05.2009

951 above 960-963-967-973.
(Strong Res-963, 973)

944 below 934-927-924.
(Strong Supp-927, 924)

We expected a correction below $955 and that happened yesterday on the back of strong consumer confidence data in US markets. Testing of $993 is not ruled out as $924 was not broken in yesterdays correction. Close below $944 would initiate a consolidation phase till $908. The trend is intact as long as $908 holds good.

 

[aravinthrajm]

SPOT SILVER LEVELS FOR 27.05.2009

14.50 above 14.71-14.91-14.94.
(Strong Res-14.94)

14.37 below 14.29-14.08-13.92-13.88-13.82.
(Strong Supp-13.92, 13.82)

Silver has entered a consolidation phase as per our view. Close below $14.37 is to be watched now. As long this holds good, we are set to touch $14.93. Else a consolidation can happen between $14.37-$13.92 and any break down below this could prove fatal to Silver and it could fall till $13.69 and below that. Apply caution in Silver trades.

 

[Mr.Rao]

Hi, your thread is very useful. keep continue your nice work for community

 

[aravinthrajm]

Performance

 

[aravinthrajm]

SPOT GOLD LEVELS FOR 28.05.2009

950 above 956-963.
(Strong Res-963)

944 below 940-934-927-924
(Strong Supp-927, 924)

Gold saw an intraday rally till $960 and came back with a huge bang till $943. But not to worry as $924 is still intact. Trend decider is $924 and as long as this holds good $993 is likely to be tested in few weeks time. $924-$908 is consolidation zone. Confusion over Gm Bankruptcy could lift the sentiment of Gold.

 

[aravinthrajm]

SPOT SILVER LEVELS FOR 28.05.2009

14.70 above 14.94-14.98-15.11.
(Strong Res-14.94, 15.11)

14.70 below 14.47-14.41-14.37.
(Strong Supp-14.47, 14.37)

Silver saw a huge spike intraday and sell off came at higher levels taking it down $14.68 levels once again. Candle formation in daily charts does not favour an up move as long as yesterdays high of $15 is taken off. Hence there could be a consolidation in Silver which might happen in the coming weeks. Apply caution in Silver trades.