Askchirag.com |
- GOLD.SILVER.DOLLAR.OIL
- Forex update JPY.EUR.GBP.AUD vs. USD
- LME Nickel Medium term view
- LME Nickel Short term view
- Gold Near Resistance Zone
- Dowjones Potential Head & shoulders , Might have topped out Yesterday
- Gold Short term view
- Silver Short term view
- Gold MCX & comex medium term View
- Euro Short term 1.2610---1.2840 Possible
- Gold Short term view
- Silver Short term view
| Posted: 23 Nov 2010 03:23 AM PST  Gold has a clear five wave impulse down. The B wave should end near 1,380 levels after which the C wave down to new lows below 1,320 should begin. Silver looks more like a 3-3-5 structure. We see the B wave complete and prices starting a C leg lower till 25. OIL is also stagnating in a B wave, which should resolve lower. Dollar index remains in B wave till price clearly move above 79.55 previous highs. (Article written in association with Orpheus CAPITALS -- ticks Global Intraday Service)               |
| Forex update JPY.EUR.GBP.AUD vs. USD Posted: 22 Nov 2010 09:16 AM PST  USDJPY. Prices have completed a five wave structure suggesting that the bounce back could push back up till previous 4 wave levels at 86. EURDUSD is in a 2 wave counter trend wave that should not push above 1.38-1.39 resistance levels. After the ongoing bounce prices should move back 1.3238 levels. AUDUSD. The price Reversal below 1.000 suggest that B wave is also over and prices are headed down till 0.9350 . The price action also has a potential Head and shoulder neckline near 0.9700. A break here will also confirm the preferred negative view. GBPUSD. Prices have completed the Wave B up at 1.5900 levels and are headed down till 1.5600.         |
| Posted: 12 Nov 2010 03:20 AM PST  The B minor corrective (counter-trend) seems over and now the prices should move lower in the C wave back below previous low at 17,000. Sub 24,000 we continue to look lower.         |
| Posted: 18 Oct 2010 09:07 AM PDT  LME Nickel breaks the Medium term Trend Line with a Strong Gap Down , Intraday Fills back the Gap and The Support Becomes Strong Resistance and prices Reverse , If In Medium Term Nickel Fails to Cross 24300 lvls , Can On Downside correct till 22400 lvls or 21900         |
| Posted: 13 Oct 2010 08:13 AM PDT  Gold Near important Trend line Resistance in zone of of 1380-1387 $ , The Rsi is Extremely overbought and Showing Negative Divergence . This Resistance is Almost near physiological Resistance of 1400 $ , This even co-incised with wave counts of Major 3 -5th wave Extended , Suggesting we are Near top. Will Look for key Reversal Here Any time soon , Opening Downside targets till 1310--1265 $         |
| Dowjones Potential Head & shoulders , Might have topped out Yesterday Posted: 15 Sep 2010 05:55 AM PDT          |
| Posted: 14 Sep 2010 09:25 AM PDT  Prices Head For Crucial Resistance Zone of 1288-1295$ levels , Almost Near the physiological Resistance of 1300 $ , We Expect The prices to Reverse From the Current level Looking at the Negative Divergence on RSI and Resistance coming up From upwards End of Rising Wedge ,         |
| Posted: 07 Sep 2010 04:28 AM PDT  Silver Short term : Silver is Highly overbought Zone , and has made A hanging man Candle Stick reversal pattern Near Resistance Level of 20 $ . In Short term , Shorts Can be Taken with Sl above abv 20 $ on closing basis , for Down Side Targets of 19.3 $ & 18.9 $         |
| Posted: 12 Aug 2010 01:40 AM PDT         |
| Gold MCX & comex medium term View Posted: 02 Jul 2010 09:32 AM PDT Gold MCX weekly Charts technical outlook Gold made a lifetime High of 19198 Rupees in the first week of June 2010 , And Formed a Doji at top of charts on weekly which is Sign of short term reversal Looking Closely at weekly Charts it almost reversed From top end of the Channel in which it has been trending Since of February 2009  Gold Initially in mid month of Feb made a high of 16036 And corrected to 13931 in Next 10 Weeks giving a correction of approx 13 % . Later on bounced back to Make a New high at 17650 and Corrected to 15950 in next 10 weeks correcting almost 10 % , the correction period both the time Lasted for 10 weeks Now at current levels it has again reversed From top end of same channel and expecting it to take Support at bottom End of Channel which is near 17200 levels and almost indicating that it could be a approx 10 % correction if it follows same time sequence of correcting approx 10 % in 10 weeks From top which it made First week of June and Than we could expect targets of 17200 lvls around second week of august RSI on weekly charts has Also Reversed From overbought Zone and point downwards currently placed at 65 zone Week end Feb 15 2009 12th April 2009 16036- -13931 net Change --- 2105 Rs == ~ 13 % correction Time Period ~ 10 Weeks weekend 29 nov 2009 31st January 2010 17650—15950 net Change = 1700 ~ 10 % correction Time Period ~ 10 Weeks Week ended 6th June 2010 - 19198 -- ????? Expected target 17200 lvls 19198—17000 net change 2198 ~~~ Approx 11.5 % correction Expected by August Second week Gold GC Comex  Gold Comex made a life time high of 1265 $ which was end of 5th wave of Complete up move which Started From medium term Low of 1044 $ made in Mid may of 2010 . Now is start of 3 wave corrective pattern Which would Open Downside targets of wave a till 1165 $ and than probably bounce back till 1230 $ lvls Which could be Wave B and than Final wave C ending at 1121 $ Note both the above views would be Negated if Comex Gold Crosses 1265 $ in short term Or MCX gold Closes above 19000 Rupees         |
| Euro Short term 1.2610---1.2840 Possible Posted: 01 Jul 2010 06:02 AM PDT          |
| Posted: 18 Jun 2010 04:36 AM PDT  Gold Comex Yesterday Re-tested The Recent Double top High of 1251 $ which is now a triple top On daily Charts A Strong Resistance to Cross Over-1251--1253 Zone Closely looking at daily Charts it has also formed a Cup handle pattern Suggesting that breakout above 1251-1253 zone & sustained trading above Same Can take it to 1281 $--1312 $ In short term Failure to Cross Over above 1251 and close above it for two days could negate the pattern. On Downside if Manages to Break 1227 $ it can lead to Re-test of Recent Lows Near 1205--1164 $ . As Far as 1227 $ is held on closing basis Look to Trade on upside for targets of 1281 $--1312         |
| Posted: 15 Jun 2010 09:28 AM PDT askchirag.com : Silver view short term : Everywhere People are Talking about the Massive Head & shoulder formation in Silver comex on daily charts which is a Bearish pattern and Silver Could Fall Down to 14.25 levels But technically speaking The massive breakdown Will come only If silver trades constantly below 18 $ and than breaks the important Support level of 17.05 $ (Neckline of head & shoulder pattern) , A Break below 17 $ will Confirm the above Pattern and open Downside targets till 14.25 $--but Contradicting to above pattern it has formed a massive Inverted head & shoulder pattern With Neckline near 18.75 $ , a break above Same can open upside targets till 19.8 $--21.44 $ So overall currently trading at 18.55 $ technically its in a neutral zone and next big move would Only happen if manges to close above 18.75 $ or break below 18 $ till than would be Range bound Looking at RSI charts its constantly reversing From 40 Zone which generally tends to Happen in bullish phase So looking to Trade it more buy on dips till time 18.00 $ is not Broken Short term Reco : Buy silver at 18.5 $ SL of 18 $ Look for 19.8 $--21.44 $         |
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