JULY 31 THURSDAY
SHORT TERM TREND : SIDEWAYS: TARGET RS 24260 TO 24750
LONG TERM TREND : BULLISH : TARGET RS 29000
S1 RS 24430, S2 RS 24260, S3 RS 24020
R1 RS 24750, R2 RS 24930, R3 RS 25170
MARKET IS EXPECTED TO MOVE SIDEWAYS.
PRICES ARE EXPECTED TO TAKE SOME UPWARD CORRECTION.
WAIT FOR FRESH ENTRIES.
Silver tumbled to $17.50/17.57 an ounce from
$17.32/17.38 late on Tuesday in New York.
Gold ended more than 1 percent lower on Wednesday,
erasing early heavy losses as a late crude oil rally offset
an initial dollar rise and equities gains.
The U.S. Federal Reserve also said it is boosting liquidity
in the financial markets. The Fed said it will extend two
lending facilities through to January, and announced
new coordinated action with the ECB.
However, gold recouped some of its losses as crude oil staged
a rally after U.S. government data showed an unexpected
drop in gasoline stocks, boosting gold's inflation hedge
appeal. U.S. crude futures CLc1 ended up $4.58 at
$126.77 an ounce.
Thursday, July 31, 2008
Wednesday, July 30, 2008
UPDATES ON JULY 30 2008
JULY 30 WEDNESDAY
SHORT TERM TREND : BEARISH : TARGET RS 23860
LONG TERM TREND : BULLISH: TARGET RS 29000
S1 RS 24040, S2 RS 23860, S3 RS 23630
R1 RS 24470, R2 RS 24675, R3 RS 24880
PREFER SHORT AT RS 24450 TO 24470
STOP LOSS RS 24675
TARGET RS 24040
Silver fell to $17.35/17.41 an ounce from $17.46/17.52
late in New York on Monday.
U.S. gold futures for August delivery settled down $11.20,
or 1.2 percent, at $916.50 an ounce on the COMEX division
of New York Mercantile Exchange.
Gold traders awaited release of U.S. economic data this week,
including GDP numbers on Thursday and nonfarm payrolls,
construction spending and auto sales data on Friday.
These reports could have a significant impact on the dollar.
Traders also looked ahead to Wednesday's oil inventory
data from the U.S. Department of Energy.
The dollar rose to its highest level in a month against
major currencies .DXY, pressuring bullion prices.
Gold tends to move in the opposite direction of
the U.S. currency, as it is often bought as an
alternative investment.
SHORT TERM TREND : BEARISH : TARGET RS 23860
LONG TERM TREND : BULLISH: TARGET RS 29000
S1 RS 24040, S2 RS 23860, S3 RS 23630
R1 RS 24470, R2 RS 24675, R3 RS 24880
PREFER SHORT AT RS 24450 TO 24470
STOP LOSS RS 24675
TARGET RS 24040
Silver fell to $17.35/17.41 an ounce from $17.46/17.52
late in New York on Monday.
U.S. gold futures for August delivery settled down $11.20,
or 1.2 percent, at $916.50 an ounce on the COMEX division
of New York Mercantile Exchange.
Gold traders awaited release of U.S. economic data this week,
including GDP numbers on Thursday and nonfarm payrolls,
construction spending and auto sales data on Friday.
These reports could have a significant impact on the dollar.
Traders also looked ahead to Wednesday's oil inventory
data from the U.S. Department of Energy.
The dollar rose to its highest level in a month against
major currencies .DXY, pressuring bullion prices.
Gold tends to move in the opposite direction of
the U.S. currency, as it is often bought as an
alternative investment.
Tuesday, July 29, 2008
UPDATES ON JULY 29 2008
JULY 29 TUESDAY
SHORT TERM TREND : BEARISH : TARGET RS 23860
LONG TERM TREND : BULLISH: TARGET RS 29000
S1 RS 24360 , S2 RS 24120 , S3 RS 23880
R1 RS 24675 , R2 RS 24885 , R3 RS 25040
PREFER SHORT AT RS 24680 TO 24700
STOP LOSS RS 24890
TARGET RS 24360
Silver added 0.5 percent to $17.605 an ounce.
Gold rose in Asia as increased energy costs and declining
equity markets from the U.S. to Asia boosted demand for
the precious metal as a haven asset.
Crude oil gained for the second day in Asia after Royal Dutch
Shell Plc reduced Nigerian production because of an attack
on a pipeline by militants.
Crude oil in New York rose 0.5 percent to $125.40 a barrel at
9:54 a.m. in Singapore, 2.4 percent higher than a low of
$122.50 on July 25.
Asian stocks fell after the International Monetary Fund said
there is no end in sight to the U.S. housing recession and as
higher energy costs erode earnings.
SHORT TERM TREND : BEARISH : TARGET RS 23860
LONG TERM TREND : BULLISH: TARGET RS 29000
S1 RS 24360 , S2 RS 24120 , S3 RS 23880
R1 RS 24675 , R2 RS 24885 , R3 RS 25040
PREFER SHORT AT RS 24680 TO 24700
STOP LOSS RS 24890
TARGET RS 24360
Silver added 0.5 percent to $17.605 an ounce.
Gold rose in Asia as increased energy costs and declining
equity markets from the U.S. to Asia boosted demand for
the precious metal as a haven asset.
Crude oil gained for the second day in Asia after Royal Dutch
Shell Plc reduced Nigerian production because of an attack
on a pipeline by militants.
Crude oil in New York rose 0.5 percent to $125.40 a barrel at
9:54 a.m. in Singapore, 2.4 percent higher than a low of
$122.50 on July 25.
Asian stocks fell after the International Monetary Fund said
there is no end in sight to the U.S. housing recession and as
higher energy costs erode earnings.
Friday, July 25, 2008
UPDATES ON JULY 25 2008
JULY 25 FRIDAY
SHORT TERM TREND : BEARISH : TARGET RS 23860
LONG TERM TREND : BULLISH : TARGET RS 29000
S1 RS 24120, S2 RS 23880, S3 RS 23630
R1 RS 24460, R2 RS 24630, R3 RS 24880
PREFER SHORTS AT RS 24460 TO 24480
STOP LOSS RS 24630
TARGET RS 24120
On the Nymex, September silver fell 16 cents to $17.30 an ounce.
Gold for August delivery ended down 50 cents at $922.30
an ounce on the New York Mercantile Exchange.
The dollar extended gains on the euro after worrying euro-zone
data, but slipped against the yen as U.S. stocks sagged.
Crude-oil futures rose for first time in three sessions, up 0.8%
following their $20 decline over the past seven sessions that had
sent the benchmark contract to its lowest level in seven weeks.
SHORT TERM TREND : BEARISH : TARGET RS 23860
LONG TERM TREND : BULLISH : TARGET RS 29000
S1 RS 24120, S2 RS 23880, S3 RS 23630
R1 RS 24460, R2 RS 24630, R3 RS 24880
PREFER SHORTS AT RS 24460 TO 24480
STOP LOSS RS 24630
TARGET RS 24120
On the Nymex, September silver fell 16 cents to $17.30 an ounce.
Gold for August delivery ended down 50 cents at $922.30
an ounce on the New York Mercantile Exchange.
The dollar extended gains on the euro after worrying euro-zone
data, but slipped against the yen as U.S. stocks sagged.
Crude-oil futures rose for first time in three sessions, up 0.8%
following their $20 decline over the past seven sessions that had
sent the benchmark contract to its lowest level in seven weeks.
Thursday, July 24, 2008
UPDATES ON JULY 24 2008
JULY 24 THURSDAY
SHORT TERM TREND : BEARISH : TARGET RS 23860
LONG TERM TREND : BULLISH : TARGET RS 29000
S1 RS 24280, S2 RS 24040, S3 RS 23860
R1 RS 24630, R2 RS 24810, R3 RS 25020
PREFER SHORTS AT RS 24630 TO 24650
STOP LOSS RS 24810
TARGET RS 24280
Spot silver tracked gold lower to $17.31/17.39 an ounce,
against $18.00/18.08 late in New York on Tuesday.
Gold dove over 3 percent on Wednesday as the dollar
surged and crude oil prices sank, denting the precious
metal's alternative investment appeal.
Oil prices fell below $125 a barrel, soothing some of
the inflation fears that have supported gold, while
other commodities such as grains and base metals
also slipped.
SHORT TERM TREND : BEARISH : TARGET RS 23860
LONG TERM TREND : BULLISH : TARGET RS 29000
S1 RS 24280, S2 RS 24040, S3 RS 23860
R1 RS 24630, R2 RS 24810, R3 RS 25020
PREFER SHORTS AT RS 24630 TO 24650
STOP LOSS RS 24810
TARGET RS 24280
Spot silver tracked gold lower to $17.31/17.39 an ounce,
against $18.00/18.08 late in New York on Tuesday.
Gold dove over 3 percent on Wednesday as the dollar
surged and crude oil prices sank, denting the precious
metal's alternative investment appeal.
Oil prices fell below $125 a barrel, soothing some of
the inflation fears that have supported gold, while
other commodities such as grains and base metals
also slipped.
Wednesday, July 23, 2008
UPDATES ON JULY 23 2008
JULY 23 WEDNESDAY
SHORT TERM TREND : BEARISH : TARGET RS 24860
LONG TERM TREND : BULLISH : TARGET RS 29000
S1 RS 25020, S2 RS 24860, S3 RS 24540
R1 RS 25340, R2 RS 25560, R3 RS 25710
PREFER SHORT AT RS 25340 TO 25360
STOP LOSS RS 25560
TARGET RS 24860
On the Nymex Tuesday, September silver fell 43 cents
to $18 an ounce .
The dollar got a lift Tuesday from a Federal Reserve official's
implication that U.S. interest rates should go higher, and
extended gains as crude-oil futures sank and Wall Street
recovered from early lows.
Gold for August delivery dropped $15.20 to end at
$948.50 an ounce on the New York Mercantile Exchange.
In the energy market, crude-oil futures fell sharply Tuesday,
changing hands at the lowest price in nearly seven weeks
and leading broad losses in energy commodities, as worries
eased that Tropical Storm Dolly will hit major oil and gas
facilities in the Gulf of Mexico.
SHORT TERM TREND : BEARISH : TARGET RS 24860
LONG TERM TREND : BULLISH : TARGET RS 29000
S1 RS 25020, S2 RS 24860, S3 RS 24540
R1 RS 25340, R2 RS 25560, R3 RS 25710
PREFER SHORT AT RS 25340 TO 25360
STOP LOSS RS 25560
TARGET RS 24860
On the Nymex Tuesday, September silver fell 43 cents
to $18 an ounce .
The dollar got a lift Tuesday from a Federal Reserve official's
implication that U.S. interest rates should go higher, and
extended gains as crude-oil futures sank and Wall Street
recovered from early lows.
Gold for August delivery dropped $15.20 to end at
$948.50 an ounce on the New York Mercantile Exchange.
In the energy market, crude-oil futures fell sharply Tuesday,
changing hands at the lowest price in nearly seven weeks
and leading broad losses in energy commodities, as worries
eased that Tropical Storm Dolly will hit major oil and gas
facilities in the Gulf of Mexico.
Tuesday, July 22, 2008
UPDATES ON JULY 22 2008
JULY 22 TUESDAY
SHORT TERM TREND : BULLISH : TARGET RS 26280
LONG TERM TREND : BULLISH : TARGET RS 29000
S1 RS 25560, S2 RS 25340, S3 RS 25120
R1 RS 25880, R2 RS 26060, R3 RS 26280
PREFER INTRA DAY LONGS AT RS 25610 TO 25590
STOP LOSS RS 25340
TARGET RS 26060
silver rose to $18.36/18.44 an ounce from
$18.12/18.20 late in New York.
A lower dollar against euro and other major
currencies and more than a $2 per barrel gain in
crude oil prices took gold as high as $968.25
during the session.
Oil rose more than $2 a barrel early on Monday after
as talks over Iran's nuclear programme ended in a
stalemate, dampening hopes the row would be
resolved soon. Last week was oil's biggest one-week
slide on record.
U.S. crude futures ended $2.16 higher at $131.04 a barrel.
SHORT TERM TREND : BULLISH : TARGET RS 26280
LONG TERM TREND : BULLISH : TARGET RS 29000
S1 RS 25560, S2 RS 25340, S3 RS 25120
R1 RS 25880, R2 RS 26060, R3 RS 26280
PREFER INTRA DAY LONGS AT RS 25610 TO 25590
STOP LOSS RS 25340
TARGET RS 26060
silver rose to $18.36/18.44 an ounce from
$18.12/18.20 late in New York.
A lower dollar against euro and other major
currencies and more than a $2 per barrel gain in
crude oil prices took gold as high as $968.25
during the session.
Oil rose more than $2 a barrel early on Monday after
as talks over Iran's nuclear programme ended in a
stalemate, dampening hopes the row would be
resolved soon. Last week was oil's biggest one-week
slide on record.
U.S. crude futures ended $2.16 higher at $131.04 a barrel.
Friday, July 18, 2008
JULY 18 2008
JULY 18 FRIDAY
SHORT TERM TREND : SIDEWAYS : TARGET RS 26135 TO 25630
LONG TERM TREND :BULLISH : TARGET RS 29000
S1 RS 25800, S2 RS 25630, S3 RS 25360
R1 RS 26180, R2 RS 26330, R3 RS 26680
MARKET IS EXPECTED TO MOVE SIDEWAYS.
Also on the Nymex, September silver fell 8 cents to end at
$18.73 an ounce.
Gold for August delivery rose $8 to end at $970.70 an ounce
on the New York Mercantile Exchange.
Crude-oil futures fell for a third day on Thursday, closing below
$130 a barrel for the first time in more than a month, as worries
continued that slower economic growth will curb oil demand.
Crude has lost nearly $16, or 11%, in the last three days.
Oil led a broad decline in commodities.
The dollar extended gains against Japan's yen and the Swiss
franc Thursday and reversed earlier losses against most
other rivals as stocks rallied and crude oil futures
continued to drop.
SHORT TERM TREND : SIDEWAYS : TARGET RS 26135 TO 25630
LONG TERM TREND :BULLISH : TARGET RS 29000
S1 RS 25800, S2 RS 25630, S3 RS 25360
R1 RS 26180, R2 RS 26330, R3 RS 26680
MARKET IS EXPECTED TO MOVE SIDEWAYS.
Also on the Nymex, September silver fell 8 cents to end at
$18.73 an ounce.
Gold for August delivery rose $8 to end at $970.70 an ounce
on the New York Mercantile Exchange.
Crude-oil futures fell for a third day on Thursday, closing below
$130 a barrel for the first time in more than a month, as worries
continued that slower economic growth will curb oil demand.
Crude has lost nearly $16, or 11%, in the last three days.
Oil led a broad decline in commodities.
The dollar extended gains against Japan's yen and the Swiss
franc Thursday and reversed earlier losses against most
other rivals as stocks rallied and crude oil futures
continued to drop.
Thursday, July 17, 2008
UPDATES ON JULY 17 2008
JULY 17 THURSDAY
September silver fell 21 cents to $18.81 an ounce.
Gold for August delivery fell $16 to end at $962.70 an ounce
on the New York Mercantile Exchange.
Crude-oil futures fell over $4 a barrel Wednesday, leaving
crude with its biggest two-day drop in 17 years, after
government data showed a surprise increase in U.S.
petroleum inventories.
Commodities moved lower across the board Wednesday.
The dollar reversed sharp losses Wednesday, taking
support from better-than-expected U.S. output data,
strength on Wall Street and sagging crude-oil futures.
September silver fell 21 cents to $18.81 an ounce.
Gold for August delivery fell $16 to end at $962.70 an ounce
on the New York Mercantile Exchange.
Crude-oil futures fell over $4 a barrel Wednesday, leaving
crude with its biggest two-day drop in 17 years, after
government data showed a surprise increase in U.S.
petroleum inventories.
Commodities moved lower across the board Wednesday.
The dollar reversed sharp losses Wednesday, taking
support from better-than-expected U.S. output data,
strength on Wall Street and sagging crude-oil futures.
Wednesday, July 16, 2008
UPDATES ON JULY 16 2008
JULY 16 WEDNESDAY
SHORT TERM TREND : SIDEWAYS: TARGET RS 26120 TO 27060
LONG TERM TREND : BULLISH: TARGET RS 27300
S1 RS 26310, S2 RS 26140, S3 RS 25860
R1 RS 26670, R2 RS 26840, R3 RS 27060
MARKET IS EXPECTED TO MOVE SIDEWAYS.
September silver fell 24 cents to $19.01 an ounce .
Earlier, gold rose to an intraday high of $988.60 an ounce
and fell to an intraday low of $969.30.
Crude futures closed down more than $6 a barrel, the biggest
daily drop in more than 17 years, as concerns that slowing
economic growth will dampen oil demand triggered a broad
sell-off in energy commodities.
Crude futures for August delivery ended at $138.74 a barrel
on the Nymex, down 4.4%, or $6.44, the biggest one-day
drop in price for a front-month contract since January, 1991.
Earlier, the contract slumped $9.26, or 6.3%, to an intraday
low of $135.92.
The dollar got some support from falling crude-oil futures
but remained under pressure Tuesday, retreating after
Bernanke cited downside risks to economic growth in a
speech that followed a spate of lackluster data. The dollar
dropped to a new low against the euro earlier, before
Bernanke spoke on Capitol Hill.
SHORT TERM TREND : SIDEWAYS: TARGET RS 26120 TO 27060
LONG TERM TREND : BULLISH: TARGET RS 27300
S1 RS 26310, S2 RS 26140, S3 RS 25860
R1 RS 26670, R2 RS 26840, R3 RS 27060
MARKET IS EXPECTED TO MOVE SIDEWAYS.
September silver fell 24 cents to $19.01 an ounce .
Earlier, gold rose to an intraday high of $988.60 an ounce
and fell to an intraday low of $969.30.
Crude futures closed down more than $6 a barrel, the biggest
daily drop in more than 17 years, as concerns that slowing
economic growth will dampen oil demand triggered a broad
sell-off in energy commodities.
Crude futures for August delivery ended at $138.74 a barrel
on the Nymex, down 4.4%, or $6.44, the biggest one-day
drop in price for a front-month contract since January, 1991.
Earlier, the contract slumped $9.26, or 6.3%, to an intraday
low of $135.92.
The dollar got some support from falling crude-oil futures
but remained under pressure Tuesday, retreating after
Bernanke cited downside risks to economic growth in a
speech that followed a spate of lackluster data. The dollar
dropped to a new low against the euro earlier, before
Bernanke spoke on Capitol Hill.
Tuesday, July 15, 2008
UPDATES ON JULY 15 2008
JULY 15 TUESDAY
SHORT TERM TREND : BULLISH: TARGET RS 27380
LONG TERM TREND : BULLISH : TARGET RS 27300
S1 RS 26560, S2 RS 26380, S3 RS 26160
R1 RS 26830, R2 RS 27060, R3 RS 27380
PREFER LONGS AT RS 26580 TO 26560
STOP LOSS RS 26380
TARGET RS 26830
Also on the Nymex, September silver rose 43 cents to
end at $19.25 an ounce.
"The news of Fannie and Freddie is just confirmation that
the federal government is willing to effectively nationalize
and print money to bail out these monstrous financial time
bombs," said Peter Spina, chief investment analyst at
GoldSeek.com.
Gold is supported by "continuing apprehensions about the
financial system despite the successful sale of $3 billion in
short-term notes by Freddie Mac this morning," said Jon
Nadler, senior analyst at Kitco Bullion Dealers.
The dollar pared most of its gains Monday, as the government's
weekend rescue of Fannie and Freddie highlighted fears about
the U.S. financial sector.
SHORT TERM TREND : BULLISH: TARGET RS 27380
LONG TERM TREND : BULLISH : TARGET RS 27300
S1 RS 26560, S2 RS 26380, S3 RS 26160
R1 RS 26830, R2 RS 27060, R3 RS 27380
PREFER LONGS AT RS 26580 TO 26560
STOP LOSS RS 26380
TARGET RS 26830
Also on the Nymex, September silver rose 43 cents to
end at $19.25 an ounce.
"The news of Fannie and Freddie is just confirmation that
the federal government is willing to effectively nationalize
and print money to bail out these monstrous financial time
bombs," said Peter Spina, chief investment analyst at
GoldSeek.com.
Gold is supported by "continuing apprehensions about the
financial system despite the successful sale of $3 billion in
short-term notes by Freddie Mac this morning," said Jon
Nadler, senior analyst at Kitco Bullion Dealers.
The dollar pared most of its gains Monday, as the government's
weekend rescue of Fannie and Freddie highlighted fears about
the U.S. financial sector.
Friday, July 11, 2008
UPDATES ON JULY 11 2008
JULY 11 FRIDAY
SHORT TERM TREND : BULLISH : TARGET RS 25960
LONG TERM TREND: BULLISH : TARGET RS 27300
S1 RS 25540, S2 RS 25380, S3 RS 25160
R1 RS 25740, R2 RS 25960, R3 RS 26180.
Silver traded little changed at $18.2900 an ounce.
Signs of a weakening U.S. economy may deter
the Federal Reserve from increasing borrowing
costs this year, diminishing the allure of dollar-
denominated assets. The dollar traded at $1.5789
against euro at 9:31 a.m. in Singapore.
The dollar is also under pressure as a report today may
show U.S. consumer confidence fell to the lowest level in
28 years, adding to concern the economic slowdown will
be prolonged. Crude oil in New York traded at $141.61 a
barrel at 9:33 a.m. in Singapore.
SHORT TERM TREND : BULLISH : TARGET RS 25960
LONG TERM TREND: BULLISH : TARGET RS 27300
S1 RS 25540, S2 RS 25380, S3 RS 25160
R1 RS 25740, R2 RS 25960, R3 RS 26180.
Silver traded little changed at $18.2900 an ounce.
Signs of a weakening U.S. economy may deter
the Federal Reserve from increasing borrowing
costs this year, diminishing the allure of dollar-
denominated assets. The dollar traded at $1.5789
against euro at 9:31 a.m. in Singapore.
The dollar is also under pressure as a report today may
show U.S. consumer confidence fell to the lowest level in
28 years, adding to concern the economic slowdown will
be prolonged. Crude oil in New York traded at $141.61 a
barrel at 9:33 a.m. in Singapore.
Thursday, July 10, 2008
UPDATES ON JULY 10 2008
JULY 10 THURDAY
SHORT TERM TREND : SIDEWAYS: TARGET RS 25230 TO 25870
LONG TERM TREND : BULLISH: TARGET 27300
S1 RS 25230, S2 RS 25020, S3 RS 24860
R1 RS 25680, R2 RS 25870,R3 RS 26130
MARKET IS EXPECTED TO MOVE SIDEWAYS
September silver gained 22 cents to $18.18 an ounce.
Iran test fired nine missiles earlier Wednesday, including
a new version of the Shahab-3, which is capable of reaching
its main regional enemy Israel, the BBC reported.
Iran and Israel have engaged in back-and-forth
saber-rattling growing out of Tehran's controversial
plans for developing nuclear power.
Crude for August delivery ended just 1 cent higher
at $136.05 a barrel on the New York Mercantile
Exchange.
SHORT TERM TREND : SIDEWAYS: TARGET RS 25230 TO 25870
LONG TERM TREND : BULLISH: TARGET 27300
S1 RS 25230, S2 RS 25020, S3 RS 24860
R1 RS 25680, R2 RS 25870,R3 RS 26130
MARKET IS EXPECTED TO MOVE SIDEWAYS
September silver gained 22 cents to $18.18 an ounce.
Iran test fired nine missiles earlier Wednesday, including
a new version of the Shahab-3, which is capable of reaching
its main regional enemy Israel, the BBC reported.
Iran and Israel have engaged in back-and-forth
saber-rattling growing out of Tehran's controversial
plans for developing nuclear power.
Crude for August delivery ended just 1 cent higher
at $136.05 a barrel on the New York Mercantile
Exchange.
Wednesday, July 9, 2008
UPDATES ON JULY 9 2008
JULY 9 WEDNESDAY
SHORT TERM TREND : BEARISH: TARGET RS 24680
LONG TERM TREND : BULLISH: TARGET RS 27300
S1 RS 24860, S2 RS 24680, S3 RS 24540
R1 RS 25270, R2 RS 25410, R3 RS 25560
PREFER SHORTS AT RS 25220 TO 25240
STOP LOSS RS 25410
TARGET RS 24860
Silver fell to $17.75/17.80 an ounce from $17.82/17.88
late in New York.
Oil tumbled more than $5 on Tuesday, pushing
losses so far this week to about $10, as forecasters
said an Atlantic hurricane would stay clear of
offshore oil platforms and the greenback gained
against othercurrencies.
SHORT TERM TREND : BEARISH: TARGET RS 24680
LONG TERM TREND : BULLISH: TARGET RS 27300
S1 RS 24860, S2 RS 24680, S3 RS 24540
R1 RS 25270, R2 RS 25410, R3 RS 25560
PREFER SHORTS AT RS 25220 TO 25240
STOP LOSS RS 25410
TARGET RS 24860
Silver fell to $17.75/17.80 an ounce from $17.82/17.88
late in New York.
Oil tumbled more than $5 on Tuesday, pushing
losses so far this week to about $10, as forecasters
said an Atlantic hurricane would stay clear of
offshore oil platforms and the greenback gained
against othercurrencies.
Tuesday, July 8, 2008
UPDATES ON JULY 8 TUESDAY
JULY 8 TUESDAY
SHORT TERM TREND : SIDEWAYS: TARGET RS 24860 TO 25516
LONG TERM TREND : BULLISH : TARGET RS 27300
S1 RS 25080, S2 RS 24860, S3 RS 24680
R1 RS 25516, R2 RS 25670, R3 RS 25840
MARKET IS EXPECTED TO MOVE SIDEWAYS
On the Nymex September Silver fell 45 cents to
$ 17.92 an ounce .
Following the dollar's retreat, crude-oil futures also pared
their early losses of nearly $6 a barrel in late afternoon
trading Monday.
Crude for August delivery had dropped $5.79 earlier in the
day to an intra-day low of $139.50 a barrel on New York
Mercantile Exchange. But futures pared their losses
and were last down $2.39, or 1.6%, to $142.90 a barrel
in late afternoon trading.
SHORT TERM TREND : SIDEWAYS: TARGET RS 24860 TO 25516
LONG TERM TREND : BULLISH : TARGET RS 27300
S1 RS 25080, S2 RS 24860, S3 RS 24680
R1 RS 25516, R2 RS 25670, R3 RS 25840
MARKET IS EXPECTED TO MOVE SIDEWAYS
On the Nymex September Silver fell 45 cents to
$ 17.92 an ounce .
Following the dollar's retreat, crude-oil futures also pared
their early losses of nearly $6 a barrel in late afternoon
trading Monday.
Crude for August delivery had dropped $5.79 earlier in the
day to an intra-day low of $139.50 a barrel on New York
Mercantile Exchange. But futures pared their losses
and were last down $2.39, or 1.6%, to $142.90 a barrel
in late afternoon trading.
Friday, July 4, 2008
UPDATES ON JULY 4 2008
JULY 4 FRIDAY
SHORT TERM TREND : SIDEWAYS: TARGET RS 25380 TO 25880
LONG TERM TREND : BULLISH: TARGET RS 27300
S1 RS 25480, S2 RS 25300, S3 RS 25100
R1 RS 25780, R2 RS 25860, R3 RS 26100
DUE TO TH ABSENCE OF INTERNATIONAL MARKETS
TRADE IS EXPECTED TO BE RANGE BOUND.
The u.s Dollar slipped to a 2 month low after a
report showed larger than expected job cuts in the
U.S in june, and after the Dow sank on Wednesday.
Silver edged down to $ 18.27/18.34 from $ 18.32/18.39
an ounce.The metal is taking some support from the
ongoing strike action in Peru , the worlds biggest
producer of the metal.
SHORT TERM TREND : SIDEWAYS: TARGET RS 25380 TO 25880
LONG TERM TREND : BULLISH: TARGET RS 27300
S1 RS 25480, S2 RS 25300, S3 RS 25100
R1 RS 25780, R2 RS 25860, R3 RS 26100
DUE TO TH ABSENCE OF INTERNATIONAL MARKETS
TRADE IS EXPECTED TO BE RANGE BOUND.
The u.s Dollar slipped to a 2 month low after a
report showed larger than expected job cuts in the
U.S in june, and after the Dow sank on Wednesday.
Silver edged down to $ 18.27/18.34 from $ 18.32/18.39
an ounce.The metal is taking some support from the
ongoing strike action in Peru , the worlds biggest
producer of the metal.
Thursday, July 3, 2008
UPDATES ON JULY 3 2008
JULY 3 THURSDAY
SHORT TERM TREND : BULLISH: TARGET RS 26640
LONG TERM TREND : BULLISH: TARGET RS 27300
S1 RS 25680, S2 RS 25460, S3 RS 25280
R1 RS 26020, R2 RS 25260, R3 RS 25580
PREFER LONGS AT RS 25680 TO 25650
STOP LOSS RS 25360
TARGET RS 26360
Silver inched down to $ 17.95/18.02 an ounce from
$ 18.08/18.13 late in Newyork on Tuesday, when it rallied
as high as $ 18.19, its loftiest level since May 27.
SHORT TERM TREND : BULLISH: TARGET RS 26640
LONG TERM TREND : BULLISH: TARGET RS 27300
S1 RS 25680, S2 RS 25460, S3 RS 25280
R1 RS 26020, R2 RS 25260, R3 RS 25580
PREFER LONGS AT RS 25680 TO 25650
STOP LOSS RS 25360
TARGET RS 26360
Silver inched down to $ 17.95/18.02 an ounce from
$ 18.08/18.13 late in Newyork on Tuesday, when it rallied
as high as $ 18.19, its loftiest level since May 27.
Wednesday, July 2, 2008
JULY 2 2008
JULY 2 WEDNESDAY
SHORT TERM TREND : BULLISH : TARGET RS 26340
LONG TERM TREND : BULLISH: TARGET RS 26800
S1 RS 25580, S2 RS 25360, S3 RS 25180
R1 RS 25920, R2 RS 26260, R3 RS 25580
PREFER LONGS AT RS 25580 TO 25600
STOP LOSS RS 25360
TARGET RS 25920
Silver edged up to $ 17.50/17.55 an ounce from
$ 17.38/17.43 late in Newyork.
SHORT TERM TREND : BULLISH : TARGET RS 26340
LONG TERM TREND : BULLISH: TARGET RS 26800
S1 RS 25580, S2 RS 25360, S3 RS 25180
R1 RS 25920, R2 RS 26260, R3 RS 25580
PREFER LONGS AT RS 25580 TO 25600
STOP LOSS RS 25360
TARGET RS 25920
Silver edged up to $ 17.50/17.55 an ounce from
$ 17.38/17.43 late in Newyork.
Tuesday, July 1, 2008
JULY 1 2008
JULY 1 TUESDAY
SHORT TERM TREND : SIDEWAYS : TARGET RS 24900 TO 24200
LONG TERM TREND : BULLISH : TARGET RS 26800
S1 RS 24560, S2 RS 24340, S3 RS 24140
R1 RS 24920, R2 RS 25060, R3 RS 25320
MARKET IS EXPECTED TO MOVE SIDEWAYS
Silver rose to $ 17.77 /17.82 an ounce from
$ 17.52/17.61 late in New york.The largest silver
ETF listed in Newyork , the ishare silver trust said
its holding edged up to 6,002.41 tonne on June 26
from 5971.63 tonnes.
SHORT TERM TREND : SIDEWAYS : TARGET RS 24900 TO 24200
LONG TERM TREND : BULLISH : TARGET RS 26800
S1 RS 24560, S2 RS 24340, S3 RS 24140
R1 RS 24920, R2 RS 25060, R3 RS 25320
MARKET IS EXPECTED TO MOVE SIDEWAYS
Silver rose to $ 17.77 /17.82 an ounce from
$ 17.52/17.61 late in New york.The largest silver
ETF listed in Newyork , the ishare silver trust said
its holding edged up to 6,002.41 tonne on June 26
from 5971.63 tonnes.
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