MONEY MINTING ADVISORY SERVICES (M. M. A. S.): EXPECTATION OF SPOT GOLD SILVER WITH TRADING STRATEGY AS ON 14TH APRIL

Tuesday, April 14, 2009

EXPECTATION OF SPOT GOLD SILVER WITH TRADING STRATEGY AS ON 14TH APRIL

INTERNATIONAL SPOT GOLD :A strong moves was witnessed yesterday to cross 897$.
Expect resistance at 899$-903$ which will be tested.
A pullback rise of the fall from 967$ to 869$ is in process.
The retracement levels are placed at 903$-915$-927$.
A pullback to these retracement could be witnessed. If Gold fails to sustain at these retracement and react down sharply then we could find price moving below 869$ subsequently.
On the immediate front, a rise to test the retracement level is like with first at 903$.

INTERNATIONAL SPOT SILVER:A strong positive candle was witnessed yesterday along with a rise and close above 10 day moving average.
A pull back towards the trend line is possible if another round of follow up rise above 12.88$ is witnessed.
Traders can trade long above 12.88$ with low of the day stop loss at the point of breakout above 12.88$.
The trend line value is around 13.25$

MCX GOLD TRADING STRATERGY :Cover short positions on dip to 14360-14251 as the opportunity arises.
Resistance will be at 14469-14485.
On further close above 14485 with positive candle can resume a pullback rise for near term towards 14594-14650.
Support will be at 14251-14235.
During the day a rise to test the L3-L4 range could be attempted.
If the close is above 14485 then we could see a rise to retrace the fall from 15595 to 14022. The 38.2% is placed at 14619.

MCX SILVER TRADING STRATERGY:Resistance will be at 21199-21280-21323.
Resistance could be tested but sustainability at higher range can be an issue.
Traders holding short positions can cover the same at current price of 21069-20692 range as the opportunity arises.
Intra-day traders willing to take risk can wait for a rise above 21323 and when it falls below 21323 then sell with high above 21323 as the stop loss.
In case of a close above 21323 with a positive candle then in days to come, we could see a pullback rise of the fall from 22936 to 20180. The retracement levels of this fall would be placed at 21224-21569-21894.