Weekly Outlook - Gold MCX 01 March to 06 March 2010

GOLD (MCX)

Gold will have resistance at last week high. Trading above 16870 with volumes will take gold to

16950 , 17020 and 17095 in the coming week.

On the other hand reversal from resistance level means Gold will correct to the significant support level.

Significant support exists for Gold at 16580 for the coming week.

If Gold trades below 16580 with volumes, it could correct sharply to 16490 and 16430.

Link to indian stock market weekly analysis : http://jerrytechnicals.blogspot.com/2010/02/week-after-budget-how-to-trade-nifty.html

Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.

MCX Gold Views 10-02-2010

Gold View Today

Outlook - Bullish

Bull level

Buy around 16260 with stop below 16220 for targets 16425, 16470 and 16500.

Link to Indian Stock Market outlook Nifty and Banknifty ::

http://jerrytechnicals.blogspot.com/2010/02/indian-stock-market-outlook-09-feb-2010_09.html

Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.

MCX Gold Views 09-02-2010

Gold View Today

Outlook - Mixed

Bull level

Crossing 16370 buy on retracement to 16350 with stop below 16300 for targets 16418, 16460.

Bear Level

Breaking and trading below 16240, short gold on retracement to 16275 with with stop above 16310


for targets 16200, 16175, 16150.

Link to Indian Stock Market outlook Nifty and Banknifty ::

http://jerrytechnicals.blogspot.com/2010/02/indian-stock-market-outlook-09-feb-2010.html

Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.

MCX Gold Views 08-02-2010

Gold View Today

Oulook - BullisH

Bull Level

Buy gold around 16150 with stop loss below 16050 for targets 16270, 16360, 16442.

NIFTY WEEKLY OUTLOOK

http://jerrytechnicals.blogspot.com/2010/02/weekly-outlook-for-indian-stock-market.html

Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.

Gold Views MCX India (1st Feb Jan 2010 till 6th Feb 2010)

Gold

Bullish Argument

Last week we had written that Gold is likely to test 16200 . Last week Gold future closed exactly at 16200.

The short term indicators are in oversold mode indicating a pull back in gold prices.

If Gold future is able to trade above 16450 with volumes, Gold can spring in a surprise by rallying to 16750.

Bearish Argument

Strong support exists for Gold at 16000. If 16000 is not held, Gold will drift down to 15880 and 15700.

Link to weekly analysis of Indian Stock market

http://jerrytechnicals.blogspot.com/2010/01/weekly-outlook-for-indian-stock-market_30.html

Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.

Gold Views MCX India (25th Jan 2010 till 30th Jan 2010)

Gold

last week readers of the blog would have picked both the high and low of gold

Even one lot of gold future contract would have fetched the reader in excess of 70,000 rupees.

http://jerrytechnicals.blogspot.com/2010/01/gold-views-mcx-india-18th-jan-2010-till.html

For the coming week, 16200 could turn out to be vital support for gold.

If 16200 is held, gold will attempt a pullback to 16500 and 16700.

On the other hand, breaking and trading below 16130 will open up gold for

downside targets of 15990, 15850 and 15700.

Weekly Outlook for Indian Stock Market : http://jerrytechnicals.blogspot.com/2010/01/weekly-outlook-for-indian-stock-market_24.html

Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.

Gold Views MCX India (18th Jan 2010 till 23rd Jan 2010)

Gold

Chart Take

Short term indicators are in oversold mode indicating a possible pullback to resistance level for gold.

17000 remains resistance zone for gold. 16600 is chart support area.

Fibonacci Levels

16950, and 17030 are weekly resistance levels as per fibonacci expansion.

Trading with volumes above 17080 gold will move to 17190, 17250, 17400.

Strong support exists at 16720 fibonacci confluence zone.

Gold should not break and trade below 16600 zone. In such a scenario, a decline to 16450 and 16300 would be inevitable.

Indian stock Market Weekly Outlook :

http://jerrytechnicals.blogspot.com/2010/01/weekly-outlook-for-indian-stock-market.html

Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.

Gold Views MCX India

Last week we had written that gold will fall in a straight line to support of 16500.

Link to last week's outlook : http://jerrytechnicals.blogspot.com/2009/12/gold-views-mcx-india_20.html

Gold low last week was 16447 !!!!

Gold

Chart take

Short term indicators have moved into oversold zone. However on the weekly time frame, all the indicators have

moved into sell mode.

Chart support exists at 16000.

Chart resistances are placed at 17000 and 17200.

Fibonacci

Last week's low of 16447 should act as strong support for gold. Breaking and trading below 16447, gold will move to 16050 and 15920.

On the upside fibonacci confluence resistance zones exist at 17070 and 17200. Breaking and trading above the second resistance level,

gold can move to 17500 expansion level.

Indian Stock Market Weekly Outlook :

http://jerrytechnicals.blogspot.com/2009/12/nifty-weekly-outlook_26.html

Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.

Gold Views MCX India

Last week gold took support exactly as we had writen at 16760 .

Link to last week's outlook (http://jerrytechnicals.blogspot.com/2009/12/gold-views-mcx-india.html).

So what is in store for gold in the coming week ??

Chart Take

Gold is at a strong support region. Last week's low should act as strong support for a medium term pullback to 17380.

However breaking last week's low gold will fall in a straight line to 16500 which is last support for gold.

Breaking below 16500 gold will retrace all its gain and fall to 16000 levels.

Fibonacci

Fibonacci cluster support at 16580.

Fibonacci extention resistances at 17150 and 17350.

Link to Indian Stock Market Weekly Outlook : http://jerrytechnicals.blogspot.com/2009/12/nifty-weekly-outlook-21-december-till.html

Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.

Gold Views (MCX India)

We had writen last week Gold is looking weak.

What a crash followed in Gold !!!!!!!!!!!!!!!!!!!!!

Link to last week's Gold article : http://jerrytechnicals.blogspot.com/2009/12/gold-views.html

Gold high was last week was exactly equal to the first support level given.

Chart Take

Chart supports exist at 16620 and 16000.

17420 and 17500 act as strong resitances for gold

Fibonacci

Fibonacci supports exists at 16780 and 16400.

Fibonacci projection resistances are placed at 17200 and 17540.

Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.

Gold Views

As writen on this blog when Gold was at 16000 (MCX), Gold achieved the target of 18200 last week.

As the rise from 16000 has been vertical in nature, we expect gold to trade in a consoldation range of

17000 to 19000 for a few weeks before plotting the next moves.

Chart Take

Short term indicators on daily chart are showing negative divergence.

Chart support exists at 17500 and 17260.

Last week high of 18300 should offer stiff resistance

Fibonacci

Fibonacci supports for this week are placed at 17455 and 17255.

Fibonacci resistances are placed at 18400 and 18735 for this week.

Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.

Commodities this week Gold, Silver, Crude oil , Bullion, MCX

Crude Oil MCX

Last week crude oil reversed from R2 level of 3735 and fell all the way down till S2 level of 3520.

A whopping 200 points profit in just 2 days.

This week, crude levels are based on NEXT month contract as current month future will expire on

the 19th of november.

Silver MCX

Gold MCX

Link to technical analyis of nifty: http://jerrytechnicals.blogspot.com/2009/11/nifty-technical-analysis.html

Link to technical analyis of dow jones : http://jerrytechnicals.blogspot.com/2009/11/technical-analysis-dow-jones-djia.html

Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.