Gold & silver daily levels - aravinthrajm

#22
SPOT GOLD LEVELS FOR 29.05.2009

963 above 969-973-977-989-993.
(Strong Res-973, 989, 993)

956 below 947-944-935-927.
(Strong Supp-944, 927)


Yellow Metal surged yesterday above $960 levels. Our resistance level of $963 was tested and cooled off a bit. We expect the Gold to touch $993 in coming weeks. Stoploss is bit far at $924 for this week. Next week this scenario could change and we would get a better entry point. Traders who are already into the position can maintain a closer stoploss at $944 at present. US GDP data is to be watched today as experts expect better GDP numbers.
 
#23
SPOT SILVER LEVELS FOR 29.05.2009

15.20 above 15.42-15.56.
(Strong Res-15.56)

14.94 below 14.80-14.47
(Strong Supp-14.47)


Silver rallied alongwith Gold and made a high of $15.25 and closed at $15.19. Though there is room for further up move till $15.56 we advice the traders to apply caution in Silver as there could be a heavy profit booking which might plunge in anytime. US GDP number is to be watched.
 
#25
SPOT GOLD LEVELS FOR 01.06.2009

973 above 987-993-1006
(Strong Res-993, 1006)

966 below 953-951-946
(Strong Supp-953, 946)


Gold made a smart rally on the back of Japan announcing Deflation last week and touched $980. Now the support for the Gold is placed at 946 for the short term. Below $946 Gold could test $908 and below that the overall trend reversal will happen. Until $946 breaks we have 100% chances for testing $993-$1006-$1013. Fundamental factors support Gold for this up move. For any long trades stoploss has to be kept at $946.
 
#26
SPOT SILVER LEVELS FOR 01.06.2009

15.55 above 15.96-16.17-16.25
(Strong Res-16.25)

15.26 below 14.94
(Strong Supp-14.94)


Silver surged above expectations and this makes the band wider for this month. Still caution has to be applied in Silver as it is in highly overbought zone and anytime correction could plunge in which should be used for Buying. Supports for Silver is placed at $15.26-$14.94-$14.52. On the upside Silver has steam till $16.25-$16.75-$17.
 
#27
SPOT GOLD LEVELS FOR 02.06.2009

979 above 986-993-995-1002-1006.
(Strong Res-993, 1006)

966 below 962-953-946.
(Strong Supp-953, 946)


Gold made a high of $989 and cooled on the back of expected GMs bankruptcy and strengthening of USD against Euro and other currencies. Gold could enter a consolidation phase between $946-$908. Trend in Gold is up as long as $908 is intact.


SPOT SILVER LEVELS FOR 02.06.2009

15.65 above 15.84-16.14-16.25.
(Strong Res-16.25)

15.26 below 15.16-14.94.
(Strong Supp-14.94)


Silver was in alignment with Gold and the caution on Silver trades proved worth as it was in overbought zone for quite a few days. Silver could also enter a consolidation phase between $14.94-$14.52. Traders are advised to wait and watch the movements in Silver before taking any positions as there could be still more fall left.
 
#28
SPOT GOLD LEVELS FOR 05.06.2009

974 above 988-993-997-1006
(Strong Res-993, 1006)

966 below 953-951-946
(Strong Supp-953, 946)


Gold almost made a high of $990 which is near to our target area $993 said few sessions back. There was a decent correction at $990 and came back to $960. If breaks $946 then we would enter a consolidation phase. If Gold crosses $993 then we would test $1006.


SPOT SILVER LEVELS FOR 05.06.2009

15.63 above 16.20-16.25-16.51-16.75
(Strong Res-16.25, 16.75)

15.63 below 15.32-15.26-14.94
(Strong Supp-15.26, 14.94)


Silver, being in overbought zone for quite a few weeks any rig ups in Silver should be used to exit the long positions. Silver looks dicey above $16.25. Traders are advised to do intra session alone above $16.25. A correction in Silver is imminent and any fall to $15-14.94 area should be used for going long in Silver.
 
#30
SPOT GOLD LEVELS FOR 08.06.2009

966 above 975-979-995-1003.
(Strong Res-979, 1003)

963 below 946-944-942-932-928
(Strong Supp-946, 942, 928)


Gold took a hit once more on the back of profit booking. Any close below $946 will take Gold into a consolidation phase. Consolidation would be between $946-908. A bounce back from $946 levels is quite possible. Gold will strengthen only above $966.


SPOT SILVER LEVELS FOR 08.06.2009

15.51 above 15.74-15.96
(Strong Res-15.96)

15.45 below 14.94-14.79-14.66-14.52
(Strong Supp-14.94, 14.79, 14.52)


Silver took a big hit on Friday and there was a repeated warning for it since few days. If Silver closes below $14.94, then it would enter a consolidation phase between $14.94-14.52. A bounce back from $14.94 is quite possible. Silver will prove its strength only above $15.51.
 

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