Trading Mantra

Sell MCX GOLD Recommendation By Trading Mantra

ananya — Wed, 15 May 2013 10:39:08 +0000

MCX Gold is finally gathering downside momentum, resuming the overall bearish wave, and approaching our second target near 26300. Overall, we maintain our negative view, targeting the recently printed lows near 24800 level. Holding below 27600 will keep the bearish scenario valid.

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Trading Mantra Recommendation : Based on the charts and explanations above, we prefer to short MCX Gold below 26700 targeting 26200 and 25300. Stop loss with four-hour closing above 27000.

Sell MCX SILVER Recommendation By Trading Mantra

ananya — Wed, 15 May 2013 10:32:37 +0000

MCX Silver is attempting to break 44300 support level, successfully holding below it may confirm further sell-off and a possible retest of 42050 low once again. Overall, we hold onto our earlier bearish expectations.

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Trading Mantra Recommendation : Based on the charts and explanations above, we prefer to short MCX Silver below 44300 targeting 43100 and 42050. Stop loss above 45300.

SELL MCX GOLD Recommendation By Trading Mantra

ananya — Tue, 14 May 2013 06:24:50 +0000

MCX Gold ended the trading session lower yesterday, below 26800 support level, holding below 26800 suggests further downside pressure within the upcoming session, for a possible retest of the recently recorded lows . Overall, holding with daily closings below 27500 keeps the bearish resumption scenario valid.

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Trading Mantra Recommendation : Based on the charts and explanations above, we prefer to short MCX Gold below 27000 targeting 26400 ,26100 and 25250. Stop loss with four-hour closing above 27300.

Buy MCX SILVER Recommendation By Trading Mantra

ananya — Mon, 06 May 2013 08:32:54 +0000

MCX Silver dipped sharply on Friday, however rebounded again after testing the support of the ascending channel shown above. Accordingly, the short term bullish bias is still favored, target mainly 46900 level, where only a clear break and stability below the channel’s support negates the potential bullish scenario.

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Trading Mantra Recommendation : Based on the charts and explanations above, we prefer to long MCX Silver above 45000 targeting 46700 and 47800. Stop loss below 44100.

Sell MCX SILVER Recommendation By Trading Mantra

ananya — Wed, 01 May 2013 12:18:35 +0000

MCX Silver is attempting to break 44500 minor support, for a potential retest of the bottom of the ascending channel. Accordingly, our bearish expectations remains intact.

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Trading Mantra Recommendation : Based on the charts and explanations above, we prefer to short MCX Silver below 45500 targeting 44000 and 43100. Stop loss above 46200.

Sell MCX GOLD Recommendation By Trading Mantra

ananya — Wed, 01 May 2013 12:09:33 +0000

MCX Gold is attempting to move lower after testing 27000 resistance, accordingly, we maintain our negative expectations unchanged.

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Trading Mantra Recommendation : Based on the charts and explanations above, we prefer to short MCX Gold around 27000 targeting 26500 and 25700. Stop loss above 27400.

Sell MCX GOLD Recommendation By Trading Mantra

ananya — Tue, 23 Apr 2013 06:14:54 +0000

MCX Gold is struggling to break above 26400 resistance level, the price has formed a bearish shooting star candle while failing to record a closing above the level on a four-hour closing basis. Accordingly, we may see attempts to resume the overall bearish wave today, but for further confirmation we need to see a break below 26250 level to expect a move towards 25950 again.

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Trading Mantra Recommendation : Based on the charts and explanations above, we prefer to short MCX Gold below 26250 targeting 26000 and 25800. Stop loss above 26450.

Sell MCX GOLD Recommendation By Trading Mantra

ananya — Thu, 11 Apr 2013 07:23:22 +0000

MCX Gold dipper sharply lower, in an attempt to resume the overall bearish wave, acquiring our downside targets for yesterday’s scenario. The intraday bias is bearish and will remain so long as price is holding below 29350 area. Accordingly, we expect further intraday bearish attempts.

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Trading Mantra Recommendation : Based on the charts and explanations above, we prefer to short MCX Gold below 29200 targeting 29050 and 28800. Stop loss above 29400.

Buy MCX GOLD Recommendation By Trading Mantra

ananya — Mon, 08 Apr 2013 06:40:48 +0000

MCX Gold rebounded printing a strongly bullish candlestick formation on Friday, meanwhile. RSI and MACD are showing a strong bullish divergence, which happens to be near the bottom of the long term sideways range and major support level at 28850. Accordingly, we expect the bounce to continue in the short term and for this week.

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Trading Mantra Recommendation : Based on the charts and explanations above, we prefer to long the metal above 29400 targeting 29700 ,29900 and 30100. Stop loss below 29200.

Sell MCX GOLD Recommendation By Trading Mantra

ananya — Wed, 03 Apr 2013 08:27:00 +0000

MCX Gold broke the tight trading range among the triangle pattern and dipped sharply yesterday, the metal tested levels just above 29300 support, which is followed by 29200 major low and key support level. Despite the big move yesterday, the overall picture remains sideways (among 30300-29200) as shown on the chart above, where a break below the bottom of range at 29200 may signal the end of this ranging market and a continuation of the overall bearish wave that started from level around 33500, targeting initially 28700 long term support level. Over intraday basis, the bearish bias may remain dominant.

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Trading Mantra Recommendation : Based on the charts and explanations above, we prefer to short MCX Gold below 29600 targeting 29400 and 29200. Stop loss above 29750.