Skip to main content

Posts

Showing posts from December, 2012

Do not buy Gold yet | Technical Chart | 27-Dec-2012

Below is the technical chart of Gold, using Doda-Donchian and Doda-Bollinger indicators. I've also added Kumo component from Ichimoku indicator.




Gold is in downtrend from the last so many trading sessions. It tried to cross Kumo - the main resistance around 11-Dec-2012, but failed to do so. It started its another bear run from there. At the time of writing this article, Gold is trading around $1657.
For this week, Gold needs to cross and close above $1665.17. You can buy Gold at that level but not before that.
On the downside, $1627 and $1597 are the strong support levels.
And  on the upside, 1694 and 1732 are the major resistance levels after 1665.
Take your positions accordingly.

EURUSD Technical Chart | 18-Dec-2012

Now, let us take the technical chart of EURUSD with Doda-Donchian, Doda-Bollinger and Ichimoku indicators.




EURUSD is in bull run from the last many trading sessions. Currently, it is trading around 1.3166. 
Now, looking at its technical chart, the major level to watch for this week is 1.3080. As long as it is trading above this level, take only long positions.
1.3038 is the strong support and on the upside, 1.3295 is the strong resistance.
So, for today, avoid any short positions and do not miss any long positions.

Nasdaq 100 Technical chart | 18-Dec-2012

Let us discuss the technical chart of Nasdaq 100.




The main level to watch for Nasdaq is 2647.26. As long as Nasdaq is trading above this level, do not miss any long position. 2660 is also a good support for Nasdaq.
If it closes below 2647.26, book your profits and exit. You can take short position also there. 
On the upside, 2679.53 and 2727.96 are key resistance levels. Watch them carefully.

Silver Technical Chart | 18-Dec-2012

Below is the technical chart of Silver using Ichimoku and some other useful indicators.

I've taken one day time frame to get bigger picture of technical analysis.

Silver is in downtrend from the last many trading sessions. The main level to watch for this week is $32.66. It needs to close above this level to enter bull zone. Below this level, it's weak.
On daily chart, it manages to get support at the bottom of kumo (see chart above). So, Kumo is acting as strong support for silver.
But let it close above $32.66 to take long position.

Gold Technical Chart | 18-Dec-2012

Below is the technical chart of Gold, using Doda-Donchian, Doda-Bollinger and Ichimoku.



This week main level to consider is $1701.25. If Gold trade above this level, do not miss any long position and if it trades below $1701.25, take only short positions.
At the time of writing this article, Gold is trading around $1702.16. Just slightly above $1701.25. It needs to cross the resistance of kumo viz. @1706. Above that, it will start its bull run.
On the downside, $1679.11, $1666.66 and $1644.54 are the key support levels of the week.
On the upside, $1713.68, $1735.82 and $1748.25 are the key resistance levels.

Gold technical Chart | 13-Dec-2012

Below is the technical chart of Gold, using Doda-Donchian and Ichimoku indicator.




Yesterday, Gold closes below $1703.88 level, which was its major support level of the week. Below this level, Gold is weak and only short-selling calls should be taken. $1696 is the minor support. Breaking it, next target is $1685.39.
Do not take any long position till Gold crosses the major resistance area of $1703-$1708.

Gold Technical Chart | 10-Dec-2012

Below is the technical chart of Gold, using Ichimoku and Doda-Donchian indicator.





Gold is currently trading near $17053.93. If it manages to stay here, it will begin its bull run of the week from here. It's main resistance for the week is $1705.47. Above this level, buy Gold. Below this level, do short selling.
On the downside, 1703.71 to 1704.75 is the support band and $1685 has become major support level of the month.
On the upside, watch the level of $1720 for some resistance.