Silver boldly
suggested on 25th Dec that “The support on monthly chart of 57187 still remains intact and the
recent lows were also placed near (57187) at 57223 so one can expect a
technical bounce till 58400/58815 with extension till 59372. Only a break below
57,000 one can witness a sharp fall which will negate the above view and also
the double bottom”. What happened next? On 26th and 27th Dec
it again touched 57200 but the double bottom quite strongly gripped the support
of 57187 and a reversal was seen achieving the said targets of extension till
59372 while silver posted a high of 59580.
Gold had
mentioned that “On hourly charts, 30750-30800 is the support area and if
upholds then expect prices to rally till 31020 with extension till 31167. Buy
and hold long with stop loss below 30750 and expect 31020”. What happened next?
The very next day we witnessed a gap down opening below 30800 which negated the
hourly chart view of going long and fresh buy call was taken above 30860 on 31st
Dec 2012 with stop of 30750 for target of 31167.On 2nd Jan 2013 it placed
a low at 30760 protecting the stop of 30750 and zoomed till 31191 achieving the extension target of 31167.
Crude had
suggested “Below 4877 we may see slide in crude oil prices till 4828/4807.
However on hourly charts 4972 remains top now and next major move can be
expected only above the top of 4989 till then side ways to downside pressure is
likely on higher levels. Stay aside till further confirmation or trade with
levels.” What happened next? Crude gave a break out rally after crossing 4989
posting a high of 5096.
Natural Gas
boldly suggested “Fresh shorts can be added in the range of 189.2-190.3 area
and expect prices to correct till 180-173 in coming days. Tough resistances are
seen at 194-197.” What happened next? The fresh short in the range of 189.2-190.3
with stop at 194 got activated on 28th Dec 2012 while posting a high
of 192.8 and then it crashed achieving the entire target till 173 posting a low
at 173.4.
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