DOW: on 5th dow(spot) broken strong sup of 10600, hits a low of 10400, the near term decending trend channel sup but covered sharply, made a new day hi in last 40 mins of trading and settled at 10808 (400 points offlows). in the background +ve talk reg EU banks and repeated dialog by mr bernanke reg easing may boosted this movement despite the _ve global situation remains.
now to watch the decending trend channel res area to whach, which is coming @ 11240 at the same time US payroll and employment reports scheduled to release @ 018.00 hrs IST.
probablity of capping the upward move in this area.
GOLD: holds the sup of $1600 on 05th oct and again moving back to the potential res of $1680/82.
altough for mid to long term still its very much bullish but near term lower prices still can expect. nearby potential res area $1682 (extn $1702), suup $1600, $1580 (can't be rulled out to get the area of $1530 again to retest). sideways ot lower till holding below potential res area of $1682-$1702.
SILVER: too much volatile but within a big range. ability of breach $30.32/34 on 5th oct, made a +ve day candle formation and with outside market sup, able to take out res of $31.5 towards potential res of $33.50.
for near term sideways to lower and a chance of retest of $26.30 till holding below the potential res of $33.50.
COPPER: dr. was a gentle counter and this is the first time it is showing this volatility and indicates the econ outlook. $3.33 is a key res today to watch, holding of this res give a hope to get copper towards $3 or lower but breaching and staying abov $3.33, next res will come @ $3.50.
NB: market is typically volatile, but market do the logical only. foreseeing the unforseen realy need to maintain stop always and obviously now when it is too volatile with big movement.
