Crude, gold and Silver signals and update!!

[deepakkukrety]

Sell gold here at 30525 s/l abv 30750 for a tgt of 30100..LOW RISK CALL..

 

[mastermind007]

MCX Silver Micro Feb Contract has formed double bottom on Hourly chart with a rapid rise with decent volume from the base.

Kindly advice best positional targets....

 

[deepakkukrety]

which oscillator u referring for divergence as I cnt see any...neither there is ny double bottom in hrly...kind attach chart u referring...secondaly I advice toremain short n shrt more on rise as long as 20.10 is not broken on comex and 1250 in gold....trend is severly down..these recoveries shud be used to sell..one shud easily get 42000 in downside in few days...


PS: I am short in gold, silver and crude and my views may be biased..

 

[mastermind007]

Divergence was in RSI but it seems to have been repainted. Hourly Double bottom are shown with 2 circles....

 

[mastermind007]

Is this Wolfe? Incidentally where do you see the COMEX Data? what is 20.10 ?

 

[deepakkukrety]

See after a fall of 2000 points a short covering of 500-600 points is pretty normally..under these circumstances one need to keep deep s/l and shud be ready to average on bounces... 20.10 & 1250 have acted as v gud support both in gold and silver many times and hence I believe this shud not be broken so easily especially when fundamentally too physical and ETF buyings have been so subdue,...infact many big funds have cut there holdings in ETFs by as much as 30-40%...

And we cant exactly call it a double bottom since from first bottom the rise is not sufficient and hence tgt shud be lower..moreover it is being formed in hrly..lets remain wid trend,.

 

[ashu1234]

MCX Silver Micro Feb Contract has formed double bottom on Hourly chart with a rapid rise with decent volume from the base.

Kindly advice best positional targets....

Well I agree with him, decent volumes are supportive of base at comex also. In my view silver is a good buy for positional trade.
Sl closing below 44k in my view.

 

[deepakkukrety]

JUst to reiterate I am positionally short...n wud like to hold it..n hence my views may be biased... but whtever call igive I take position in tht too n thts y I hv attached this screenshot..

 

[deepakkukrety]

Going positional long here in crude.. at 5939..stops at 5890 tgt 6053 and 6151..

DEspite all bad news crude is not going down..moreover I think demand should pick up as refineries in US are opening up...

My weekly chart still showing a huge possibility of bounce in comex twds 97.58 AND 99.00+...

 

[deepakkukrety]

Moreover EUR/USD is also facing resistance at 1.3560 on daily charts and luks set for a fall twds 1.33 handle which means USD/INR should also follow a strong dollar....I also have negative views in equities whwre in one can see a clear head and shoulder in NIFTY daily charts...all in all USD/INR should again test 64.00 lvls..and hence positive for MCX crude..