here all the hit charts!!

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Gold target hit

this is our last day post, here for your verification, see today chart below
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click the chart to large view


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Technicals – MCX (Intra day calls)

CRUDE OIL (April) BULLISH ABOVE 4204BEARISH BELOW 4185

GOLD (April) BULLISH ABOVE 12400BEARISH BELOW 12333

SILVER (May) BULLISH ABOVE 24220 BEARISH BELOW 24100

COPPER (APRIL) BULLISH ABOVE 327.10 BEARISH BELOW 326

LEAD (MARCH) BULLISH ABOVE 115.40 BEARISH BELOW 114.80

NICKEL (MARCH) BULLISH ABOVE 1196 BEARISH BELOW 1190

ZINC (MARH) BULLISH ABOVE 98.30 BEARISH BELOW 97.80

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Moving averages

Gold Silver Platinum Palladium
5 Day MA 984.90 19.890 1,995 482.40
10 Day MA 980.58 19.930 2,030 487.80
20 Day MA 971.25 19.590 2,103 516.33
30 Day MA 952.76 18.820 2,071 494.18
60 Day MA 918.55 17.380 1,841 437.07
100 Day MA 872.99 16.230 1,691 405.47
200 Day MA 783.79 14.590 1,504 380.42

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GENERAL MARKET CONDITIONS

Yesterday I had mentioned that investors should buy US dollar calls and precious metals puts. I was right. The US dollar gains and the fall in energy prices and metal prices is nothing but a technical correction which is a part and parcel of a long term bull run rally. Investors should get used to such movements and if they get scared, then the best place for them is the bond markets. Risk appetite has to be increased for both the investors and the day trader else stop losses will keep on getting hit.

Base metals get cranked up very quickly. Returns in base metals are high but so is the risk. It is the physical trader which tries to create an artificial shortage of the metal which in turn shrinks the LME stocks and prices rise. Retail investors think that whenever LME stocks fall that metal should rise and they end up doing a loss making trade. LME stocks are just manipulated by the base metals hedge funds and physical traders so that the end user buys at higher levels. They are not concerned over five percent intra day swings in base metal prices as long as medium term demand is high. Retail investors, if they are caught on the wrong side, exit only when they are unable to pay margin calls.

Looking at intra day LME inventories is not the correct way to trade.

We wish u all a very colorful holiday and happy Easter vacations. We will back on Monday. Day traders expect higher volatility to continue in metals and energies.

LME ZINC 3 MONTHS -- INTRA DAY PIVOT:$2287

Only a break of $2476 will result in bullish zone else zinc will fall to $2200 and below in short term.

LME NICKEL 3 MONTH -- INTRA DAY PIVOT $28580

Nickel has to close over $28580 to be in a bullish zone and target $31000 and $32000 once again. A close below $28580 will result in a slide to $26280 and below.

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