Technicals for Gold (Spot) and Silver (Spot) for 26th February 2013

Technicals for Gold (Spot) and Silver (Spot) for 26th February 2013

Gold Spot resistance levels @ 1597/1604. Near term looking in correction mode. Major resistance @1628/30 levels. Convincing close above this level will take to 1665/70. Support for Gold (Spot) is 1584/77.

Major trend remains bearish unless it closes above 1630/35
Near term looking in correction mode, can go up to 1625/28 unless it doesn't closes below 1555

Silver Spot resistance around 2930/2955

Silver looks a buy around 2865/50 with a closing stop of 2760 for target of 3020/60 (but needs patience) .

Can see major short covering once 2930/40 is cleared convincingly.

Support for silver @2810/2780/2760

Have a great trading day

Love and Regards

Monthly Technicals @ end of June 2009

Eur/Usd: Monthly charts of Eur showing slowdown in recent rally and thus a small doji kind of formation. Expect correction in Eur (of upmove from 1.2450 - 1.4340) i.e. 38.2%- 1.3615, 50%- 1.3400/1.3390 and 61.8% - 1.3170 . If you see the larger picture, theres a triangle formation in weekly charts which has resistane arnd 1.4250/80 thus recommending selling arnd 1.4250/80 with stop 1.4375 for atleast target of 1.3390/13400.
Need a convincing close below 1.3740 for further downside. Alternatively, close above 1.4375 to be bullish.
Resistance @ 1.4280, 1.4340, 1.4430 and 1.4570
support @ 1.3870, 1.3740, 1.3580 and 1.3390

Gbp/Usd: Gbp corrected almost 50% ( 1.6825) fall from 2.0155 - 1.3500 at 1.6745. However the rally has lost its fizzle and now trading in range of 1.6200 -1.6675. Like Eur, expecting correction of last few months rally of 1.3500 - 1.6745: 38.2% @ 1.5510, 50% @ 1.5125 and 61.8% @ 1.4745. Only a convincing close above 1.6825 will target 1.7475/1.7620.
Sell gbp/usd arnd 1.6745/1.6800 with stop of 1.6850 for target of 1.5125
Resis @ 1.6745, 1.6825, 1.7130 and 1.7250
supp @ 1.6150, 1.5800, 1.5740 and 1.5625

Usd/Jpy: On weekly charts, trading in a channel. Hence expecting it to trade in range, unless breakout of range. 93.40/60 looks to be strong support and resis @ 98.20, 99.75 and 101.45.
Jpy looks a buy 94.50/9480 with stop arnd 93.40/60 for 98.80/99.00

Dollar index (Sep), on monthly charts towards 84.40/50, looks due for an upward correction thus coming months looks to be dollar supportive.
resis @ 81.15, 82.00 and 83.55
support @ 79.70, 79.55 and 78.83


Gold: Bearish piercing formation on monthly charts, therefore bearish outlook for gold. Sell gold arnd 960/68 area with stop 985. Above 995 bullish nd major support @ 900 and 864

Silver: Similar to gold, bearish piercing formation on monthly charts and bearish outlook. Can sell arnd 1464/75 areas with stop of 15.15. Expect silver to be more volatile than gold in cumin weeks and months.

Bse: Doji formation in monthly charts with bearish outlook. Would like to sell arnd 15100/175 with stop above 15600 for tgt of 11950/12000. Above 15600 bullish.
Bse has retraced arnd 50% of the entire fall from all time high 21206 to recent low at 7697.

Copper (comex) looks bearish for tgt of 217/219.

Crude oil look for correction towards 59.50/60.00

DJIA and S&P look for correction towards 7675/7600 and 825/811 respectively.

Good luck with trading!!!
Regards