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.
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.
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