Monday, March 3, 2008

Commodity Outlook 4th March 2008


Commodities are on fire... And totally in literal sense like rocket, especially silver completely gravity defying and totally of the world.

Let me start with Gold:

Gold: there is at least no stopping in near future, but as on 3rd March 2008, if if look at daily charts, there is already "3 White Soldiers" patterns, expecting a little slowdown in the daily price move, but as of 10.39 on MCX gold has already gone to Rs. 12638, therefore the chances of gold falling or holding, i.e. not continuing in the same frenzy are low.

Silver: Silver has already made a doji, after three white soldiers, so it depends on how it closes today night on MCX..

More post on commodity tomorrow based on close on MCX..


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