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Breakout/ Breakdown Trades |
chrome
Yellow Belt
Joined: 28 Dec 2009
Posts: 645
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Post: #721  Posted: Sat Nov 03, 2012 2:06 pm Post subject: |
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Crude Oil: 85$ support broken yesterday and closed below it. Worrying factor here..Inverse H/S pattern clearly visible which looks to break till $78 as 1st target. (EOD daily chart attached)
In MCX : 4500 is the very long term channel support and break below this will lead to panic sell in crude oil, however, it is oversold at CMP around 4600 and may give a spike bounce back. (Weekly and daily charts attached)
PS : Crude break-down will help equity markets to gain.
rgds
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Rahulsharmaat
Black Belt
Joined: 04 Nov 2009
Posts: 2766
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| Post: #722 Posted: Sat Nov 03, 2012 2:13 pm Post subject: |
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Isnt it H&S-- in stead of Inverse H&S
and if we connect 83.60 area to these day low--- thats neck line--
height is 16 points almost--- so 68 should be target
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chrome
Yellow Belt
Joined: 28 Dec 2009
Posts: 645
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| Post: #723 Posted: Sat Nov 03, 2012 2:29 pm Post subject: |
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yes this is h&s...my mistake !!!!
| Rahulsharmaat wrote: | Isnt it H&S-- in stead of Inverse H&S
and if we connect 83.60 area to these day low--- thats neck line--
height is 16 points almost--- so 68 should be target |
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NittinP
White Belt
Joined: 23 Sep 2012
Posts: 48
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| Post: #724 Posted: Sat Nov 03, 2012 2:52 pm Post subject: |
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Hi Chrome/RS,
Will it have any effect/impact on base metals??
Is there any relation of price movement of Crude oil that too with base metals including silver??
Any thought..
Thanks and regards,
NP
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Rahulsharmaat
Black Belt
Joined: 04 Nov 2009
Posts: 2766
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| Post: #725 Posted: Sat Nov 03, 2012 3:25 pm Post subject: |
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For me all this is due to next week impact of US election---
Bulls are killed almost--
On thrusday-- Silver and gold both broke 10 day trading range on higher side-- giving indication of a rally-- and people who were trapped on higher levels-- averaged -- and this sudden fall have killed them---
I was also holding Silver from 61700--- and gold from 32000 almost
had to exit yesterday at 59500-- and 31900----
so what i feel is -- If Obama comes-- these may see more fall--- as hope of further recovery hope---
On weekley chart-- gold from 1550--till 1800--in last 5 months--corrected 50%-- support lies around friday low--- if breaks can see 1630--1610
silver may see 56--55 area once again---
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #726 Posted: Sat Nov 03, 2012 9:27 pm Post subject: |
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| as per my feeling, buy gold if obama wins
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chrome
Yellow Belt
Joined: 28 Dec 2009
Posts: 645
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| Post: #727 Posted: Wed Nov 07, 2012 9:41 pm Post subject: |
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as projected, mcx crude oil spiked from 4600 levels till 4830 and then its back to near 4600 today...
now breakdown below 4600 will be a decisive breakdown for crude oil..
rgds
| chrome wrote: | Crude Oil: 85$ support broken yesterday and closed below it. Worrying factor here..Inverse H/S pattern clearly visible which looks to break till $78 as 1st target. (EOD daily chart attached)
In MCX : 4500 is the very long term channel support and break below this will lead to panic sell in crude oil, however, it is oversold at CMP around 4600 and may give a spike bounce back. (Weekly and daily charts attached)
PS : Crude break-down will help equity markets to gain.
rgds |
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umesh1
Brown Belt
Joined: 24 Nov 2008
Posts: 1974
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| Post: #728 Posted: Thu Nov 08, 2012 10:15 am Post subject: |
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| chrome wrote: | as projected, mcx crude oil spiked from 4600 levels till 4830 and then its back to near 4600 today...
now breakdown below 4600 will be a decisive breakdown for crude oil..
rgds
| chrome wrote: | Crude Oil: 85$ support broken yesterday and closed below it. Worrying factor here..Inverse H/S pattern clearly visible which looks to break till $78 as 1st target. (EOD daily chart attached)
In MCX : 4500 is the very long term channel support and break below this will lead to panic sell in crude oil, however, it is oversold at CMP around 4600 and may give a spike bounce back. (Weekly and daily charts attached)
PS : Crude break-down will help equity markets to gain.
rgds |
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Chrome
I repeat Keep it up with your valuable inputs
Cheers
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prst
White Belt
Joined: 24 Sep 2011
Posts: 87
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| Post: #729 Posted: Sat Nov 10, 2012 9:11 pm Post subject: |
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| is it a valid breakout on idea daily charts?
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chrome
Yellow Belt
Joined: 28 Dec 2009
Posts: 645
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| Post: #730 Posted: Sat Nov 10, 2012 9:32 pm Post subject: |
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till a closing below 88...it is..
| prst wrote: | | is it a valid breakout on idea daily charts? |
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chrome
Yellow Belt
Joined: 28 Dec 2009
Posts: 645
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #732 Posted: Wed Dec 05, 2012 12:01 pm Post subject: |
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I love JP 
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SP50
Brown Belt
Joined: 26 Nov 2010
Posts: 1615
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| Post: #733 Posted: Wed Dec 05, 2012 12:05 pm Post subject: |
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| apka wrote: | | I love JP |
If market sustains above 6000 for 3months I am looking at Min target of 180 on JP 
but the flip side if market corrects and goes to 5400-5200 level again JP has 65 and below written all over it
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #734 Posted: Wed Dec 05, 2012 12:07 pm Post subject: |
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| one of the biggest chor management
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SP50
Brown Belt
Joined: 26 Nov 2010
Posts: 1615
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| Post: #735 Posted: Wed Dec 05, 2012 12:10 pm Post subject: |
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| vinay28 wrote: | | one of the biggest chor management |
Without doubt but FII love this scrip like anything, it would have become a Suzlon last year but got saved because of some big interest,
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