The chart of the week goes to Silver traded on both MCX and NCDEX. MCX Silver, after taking support at 28500, has rallied to test 30500. I had a buy call on Silver with 30500 as target. But to be honest, I didn't expect 29800 to be breached and thought another test of 28500 was possible to complete the 5th leg of the triangle. Now that the resistance is breached, where to from here. Keep watching this site for updates.

Click on chart to view larger image.

Results of trade signals of 22 Aug 2010*

MCX

1. Buy Crude oil 3650 sl 3600 tgt 3725,3800-  first target achieved .
2. buy Gold 18800 sl 18450 tgt 19500,19850 - made high of 19271
3. buy Nickel 1025 sl 1000 tgt 1048,1065 - stop hit
4. Buy Silver with stop below 28500 cmp 29345 28000 tgt 30000,30500 - All targets achieved.

NCDEX

1. Buy Chana 2287 sl 2180 tgt 2550, 2650 - stop hit
2. Buy Copper 339 sl 329 tgt 350,360 -  first target achieved .
3. Buy Crude oil 3375 sl 3335 tgt 3550, 3600 -  first target achieved.

* - All prices are spot prices

Results of trade signals of 18 July 2010*^

MCX

1. buy crude oil 3656 sl 3625 tgt 3850,3915 - made high of 359.4. All targets achieved.

2. sell gold 18875 sl 19017 tgt 18500,18150 - made low of 17925. All targets achieved.

3. sell silver 29891 sl 30155 tgt 28500,27000 -  - made low of 28484. first target achieved.

* - All prices are spot prices

^ - Entry levels are accurate to within rs 100-250 depending on the commodity

The chart of the week goes to Soya Bean. Soya bean was looking bullish ad we had alerted users to this and our trade signal was spot on in helping users catch on to this upmove.

Click on chart to view larger image.