Copper:
Copper trade on ACCESS is showing higher prices in recent activity extending the prior sessions gains. Trend indicators are showing the market in a neutral price pattern at present.
TREND INDICATORS:
Simple Moving Average (10-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 10-Day simple moving average has a strong bullish bias.
Simple Moving Average (25-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 25-Day simple moving average has a strong bullish bias.
Simple Moving Average (50-Day): Recent activity this morning has seen prices trade above this moving average. However, despite prices trading above the moving average line, the moving average is in a downward slope from the previous session. If prices trade below the moving average then the trend will be clearly established as up. However, this strength in the price will need to be watched. As a result the 50-Day simple moving average has a weak bearish bias.
ADX: The Average Directional Change (ADX) indicates the strength of a markets underlying trend. A rising ADX is interpreted as building trend strength, while a falling ADX indicates weakness in the underlying trend and the potential of a market reversal. On this market, the 14-Day ADX is rising, while the long term trend, based on a 50-Day moving average, is down. As the ADX has turned higher also this indicates a strengthening in the current downward trend and further losses are possible from here.
MOMENTUM INDICATORS:
MACD: The MACD is in bullish territory.
RSI: The 14-Day RSI is in neutral territory. (RSI is at 58.43). This indicator issues bullish signals when the RSI line dips below the oversold zone (currently set at 20.00); a bearish signal is generated when the RSI rises into the overbought zone (currently set at 80.00). Nevertheless with the RSI at 58.43 the market is somewhat overbought. However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence of weakness from this indicator before getting too bearish here.
VOLATILITY INDICATORS:
Bollinger Bands (20-Day Average +/-1 Standard Deviation): As prices are closer to the bottom band than the top band, the Bollinger Bands are indicating overbought prices. Despite this overbought condition the market may become more overbought before turning lower. As a result, the market will look for additional weakening in prices before turning bearish on this indicator.
RESISTANCE AND SUPPORT LEVELS:
3.5895 - Highest High in last 50-Days
3.3851 - 200-Day Simple Moving Average
3.3028 - 100-Day Simple Moving Average
3.2427 - 20-Day Simple Moving Average Plus 2 Standard Deviations
3.2350 - Highest High in last 10-Days
3.2350 - High
3.2080 - Last Price
3.1720 - Low
3.1533 - 3-Day Simple Moving Average
3.1497 - 20-Day Simple Moving Average Plus 1 Standard Deviation
3.1345 - 50-Day Simple Moving Average
3.1092 - 10-Day Simple Moving Average
3.0620 - 25-Day Simple Moving Average
2.9637 - 20-Day Simple Moving Average Minus 1 Standard Deviation
2.9505 - Lowest Low in last 10-Days
2.8707 - 20-Day Simple Moving Average Minus 2 Standard Deviations
2.8530 - Lowest Low in last 50-Days
MCXARUN
9994500540
Monday, January 7, 2008
Energy Futures
Crude Oil:
Front month crude oil is higher in ACCESS trade this morning reversing the weaker tone seen during the prior session. Trend indicators are indicating a bullish market and the overall strength of the trend is strong, as indicated by the ADX. Momentum readings are also bullish. However, the recent downturn in the difference between the MACD and the MACD signal line may indicate a short term decline over the next few days and should be watched.
TREND INDICATORS:
Simple Moving Average (10-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 10-Day simple moving average has a strong bullish bias.
Simple Moving Average (25-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 25-Day simple moving average has a strong bullish bias.
Simple Moving Average (50-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 50-Day simple moving average has a strong bullish bias.
ADX: The Average Directional Change (ADX) indicates the strength of a markets underlying trend. A rising ADX is interpreted as building trend strength, while a falling ADX indicates weakness in the underlying trend and the potential of a market reversal. On this market, the 14-Day ADX is rising, while the long term trend, based on a 50-Day moving average, is up. As the ADX is rising it indicates that the current trend is strong and should remain intact. Look for the current trend to continue.
MOMENTUM INDICATORS:
MACD: The MACD is in bullish territory. However, the recent downturn in the difference between the MACD and the MACD signal line may indicate a short term decline over the next few days.
RSI: The 14-Day RSI is in neutral territory. (RSI is at 65.19). This indicator issues bullish signals when the RSI line dips below the oversold zone (currently set at 20.00); a bearish signal is generated when the RSI rises into the overbought zone (currently set at 80.00). Nevertheless with the RSI at 65.19 the market is somewhat overbought. However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence of weakness from this indicator before getting too bearish here.
VOLATILITY INDICATORS:
Bollinger Bands (20-Day Average +/-1 Standard Deviation): As prices are closer to the bottom band than the top band, the Bollinger Bands are indicating overbought prices. Volatility also appears to be increasing, as evidenced by a larger distance between the upper and lower bands over the past few sessions. Despite this overbought condition the market may become more overbought before turning lower. As a result, the market will look for additional weakening in prices before turning bearish on this indicator.
RESISTANCE AND SUPPORT LEVELS:
100.44 - 20-Day Simple Moving Average Plus 2 Standard Deviations
100.09 - Highest High in last 10-Days
100.09 - Highest High in last 50-Days
99.41 - High
99.33 - 3-Day Simple Moving Average
99.20 - Last Price
99.13 - Low
96.91 - 20-Day Simple Moving Average Plus 1 Standard Deviation
96.11 - 10-Day Simple Moving Average
93.50 - 50-Day Simple Moving Average
92.50 - 25-Day Simple Moving Average
90.57 - Lowest Low in last 10-Days
89.86 - 20-Day Simple Moving Average Minus 1 Standard Deviation
86.34 - 20-Day Simple Moving Average Minus 2 Standard Deviations
86.22 - 100-Day Simple Moving Average
85.82 - Lowest Low in last 50-Days
77.03 - 200-Day Simple Moving Average
Natural Gas:
Natural Gas contracts are higher this morning reversing the weaker tone seen during the prior session. Trend indicators are indicating a bullish market and the overall strength of the trend is strong, as indicated by the ADX. Momentum readings are also in bullish territory.
TREND INDICATORS:
Simple Moving Average (10-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 10-Day simple moving average has a strong bullish bias.
Simple Moving Average (25-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 25-Day simple moving average has a strong bullish bias.
Simple Moving Average (50-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 50-Day simple moving average has a strong bullish bias.
ADX: The Average Directional Change (ADX) indicates the strength of a markets underlying trend. A rising ADX is interpreted as building trend strength, while a falling ADX indicates weakness in the underlying trend and the potential of a market reversal. On this market, the 14-Day ADX is rising, while the long term trend, based on a 50-Day moving average, is up. As the ADX is rising it indicates that the current trend is strong and should remain intact. Look for the current trend to continue.
MOMENTUM INDICATORS:
MACD: The MACD is in bullish territory.
RSI: The 14-Day RSI is in neutral territory. (RSI is at 60.22). This indicator issues bullish signals when the RSI line dips below the oversold zone (currently set at 20.00); a bearish signal is generated when the RSI rises into the overbought zone (currently set at 80.00). Nevertheless with the RSI at 60.22 the market is somewhat overbought. However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence of weakness from this indicator before getting too bearish here.
VOLATILITY INDICATORS:
Bollinger Bands (20-Day Average +/-1 Standard Deviation): As prices are closer to the bottom band than the top band, the Bollinger Bands are indicating overbought prices. Volatility also appears to be increasing, as evidenced by a larger distance between the upper and lower bands over the past few sessions. Despite this overbought condition the market may become more overbought before turning lower. As a result, the market will look for additional weakening in prices before turning bearish on this indicator.
RESISTANCE AND SUPPORT LEVELS:
8.712 - Highest High in last 50-Days
7.980 - Highest High in last 10-Days
7.748 - 3-Day Simple Moving Average
7.743 - 20-Day Simple Moving Average Plus 2 Standard Deviations
7.733 - High
7.721 - Last Price
7.650 - Low
7.556 - 50-Day Simple Moving Average
7.510 - 20-Day Simple Moving Average Plus 1 Standard Deviation
7.395 - 10-Day Simple Moving Average
7.274 - 25-Day Simple Moving Average
7.142 - 200-Day Simple Moving Average
7.043 - 20-Day Simple Moving Average Minus 1 Standard Deviation
7.021 - 100-Day Simple Moving Average
6.950 - Lowest Low in last 10-Days
6.882 - Lowest Low in last 50-Days
6.810 - 20-Day Simple Moving Average Minus 2 Standard Deviations
MCXARUN
9994500540
Front month crude oil is higher in ACCESS trade this morning reversing the weaker tone seen during the prior session. Trend indicators are indicating a bullish market and the overall strength of the trend is strong, as indicated by the ADX. Momentum readings are also bullish. However, the recent downturn in the difference between the MACD and the MACD signal line may indicate a short term decline over the next few days and should be watched.
TREND INDICATORS:
Simple Moving Average (10-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 10-Day simple moving average has a strong bullish bias.
Simple Moving Average (25-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 25-Day simple moving average has a strong bullish bias.
Simple Moving Average (50-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 50-Day simple moving average has a strong bullish bias.
ADX: The Average Directional Change (ADX) indicates the strength of a markets underlying trend. A rising ADX is interpreted as building trend strength, while a falling ADX indicates weakness in the underlying trend and the potential of a market reversal. On this market, the 14-Day ADX is rising, while the long term trend, based on a 50-Day moving average, is up. As the ADX is rising it indicates that the current trend is strong and should remain intact. Look for the current trend to continue.
MOMENTUM INDICATORS:
MACD: The MACD is in bullish territory. However, the recent downturn in the difference between the MACD and the MACD signal line may indicate a short term decline over the next few days.
RSI: The 14-Day RSI is in neutral territory. (RSI is at 65.19). This indicator issues bullish signals when the RSI line dips below the oversold zone (currently set at 20.00); a bearish signal is generated when the RSI rises into the overbought zone (currently set at 80.00). Nevertheless with the RSI at 65.19 the market is somewhat overbought. However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence of weakness from this indicator before getting too bearish here.
VOLATILITY INDICATORS:
Bollinger Bands (20-Day Average +/-1 Standard Deviation): As prices are closer to the bottom band than the top band, the Bollinger Bands are indicating overbought prices. Volatility also appears to be increasing, as evidenced by a larger distance between the upper and lower bands over the past few sessions. Despite this overbought condition the market may become more overbought before turning lower. As a result, the market will look for additional weakening in prices before turning bearish on this indicator.
RESISTANCE AND SUPPORT LEVELS:
100.44 - 20-Day Simple Moving Average Plus 2 Standard Deviations
100.09 - Highest High in last 10-Days
100.09 - Highest High in last 50-Days
99.41 - High
99.33 - 3-Day Simple Moving Average
99.20 - Last Price
99.13 - Low
96.91 - 20-Day Simple Moving Average Plus 1 Standard Deviation
96.11 - 10-Day Simple Moving Average
93.50 - 50-Day Simple Moving Average
92.50 - 25-Day Simple Moving Average
90.57 - Lowest Low in last 10-Days
89.86 - 20-Day Simple Moving Average Minus 1 Standard Deviation
86.34 - 20-Day Simple Moving Average Minus 2 Standard Deviations
86.22 - 100-Day Simple Moving Average
85.82 - Lowest Low in last 50-Days
77.03 - 200-Day Simple Moving Average
Natural Gas:
Natural Gas contracts are higher this morning reversing the weaker tone seen during the prior session. Trend indicators are indicating a bullish market and the overall strength of the trend is strong, as indicated by the ADX. Momentum readings are also in bullish territory.
TREND INDICATORS:
Simple Moving Average (10-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 10-Day simple moving average has a strong bullish bias.
Simple Moving Average (25-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 25-Day simple moving average has a strong bullish bias.
Simple Moving Average (50-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 50-Day simple moving average has a strong bullish bias.
ADX: The Average Directional Change (ADX) indicates the strength of a markets underlying trend. A rising ADX is interpreted as building trend strength, while a falling ADX indicates weakness in the underlying trend and the potential of a market reversal. On this market, the 14-Day ADX is rising, while the long term trend, based on a 50-Day moving average, is up. As the ADX is rising it indicates that the current trend is strong and should remain intact. Look for the current trend to continue.
MOMENTUM INDICATORS:
MACD: The MACD is in bullish territory.
RSI: The 14-Day RSI is in neutral territory. (RSI is at 60.22). This indicator issues bullish signals when the RSI line dips below the oversold zone (currently set at 20.00); a bearish signal is generated when the RSI rises into the overbought zone (currently set at 80.00). Nevertheless with the RSI at 60.22 the market is somewhat overbought. However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence of weakness from this indicator before getting too bearish here.
VOLATILITY INDICATORS:
Bollinger Bands (20-Day Average +/-1 Standard Deviation): As prices are closer to the bottom band than the top band, the Bollinger Bands are indicating overbought prices. Volatility also appears to be increasing, as evidenced by a larger distance between the upper and lower bands over the past few sessions. Despite this overbought condition the market may become more overbought before turning lower. As a result, the market will look for additional weakening in prices before turning bearish on this indicator.
RESISTANCE AND SUPPORT LEVELS:
8.712 - Highest High in last 50-Days
7.980 - Highest High in last 10-Days
7.748 - 3-Day Simple Moving Average
7.743 - 20-Day Simple Moving Average Plus 2 Standard Deviations
7.733 - High
7.721 - Last Price
7.650 - Low
7.556 - 50-Day Simple Moving Average
7.510 - 20-Day Simple Moving Average Plus 1 Standard Deviation
7.395 - 10-Day Simple Moving Average
7.274 - 25-Day Simple Moving Average
7.142 - 200-Day Simple Moving Average
7.043 - 20-Day Simple Moving Average Minus 1 Standard Deviation
7.021 - 100-Day Simple Moving Average
6.950 - Lowest Low in last 10-Days
6.882 - Lowest Low in last 50-Days
6.810 - 20-Day Simple Moving Average Minus 2 Standard Deviations
MCXARUN
9994500540
Precious Metals Futures
COMEX Gold:
Gold trading is weaker in ACCESS trade this morning reversing the firmer tone seen during the prior session. Trend indicators are indicating a bullish market and the overall strength of the trend is strong, as indicated by the ADX. Momentum readings are also in bullish territory.
TREND INDICATORS:
Simple Moving Average (10-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 10-Day simple moving average has a strong bullish bias.
Simple Moving Average (25-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 25-Day simple moving average has a strong bullish bias.
Simple Moving Average (50-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 50-Day simple moving average has a strong bullish bias.
ADX: The Average Directional Change (ADX) indicates the strength of a markets underlying trend. A rising ADX is interpreted as building trend strength, while a falling ADX indicates weakness in the underlying trend and the potential of a market reversal. On this market, the 14-Day ADX is rising, while the long term trend, based on a 50-Day moving average, is up. As the ADX is rising it indicates that the current trend is strong and should remain intact. Look for the current trend to continue.
MOMENTUM INDICATORS:
MACD: The MACD is in bullish territory.
RSI: The 14-Day RSI is in neutral territory. (RSI is at 70.44). This indicator issues bullish signals when the RSI line dips below the oversold zone (currently set at 20.00); a bearish signal is generated when the RSI rises into the overbought zone (currently set at 80.00). Nevertheless with the RSI at 70.44 the market is somewhat overbought. However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence of weakness from this indicator before getting too bearish here.
VOLATILITY INDICATORS:
Bollinger Bands (20-Day Average +/-1 Standard Deviation): As prices are closer to the bottom band than the top band, the Bollinger Bands are indicating overbought prices. Volatility also appears to be increasing, as evidenced by a larger distance between the upper and lower bands over the past few sessions. Despite this overbought condition the market may become more overbought before turning lower. As a result, the market will look for additional weakening in prices before turning bearish on this indicator.
RESISTANCE AND SUPPORT LEVELS:
872.90 - Highest High in last 50-Days
872.90 - Highest High in last 10-Days
870.20 - High
865.82 - 20-Day Simple Moving Average Plus 2 Standard Deviations
865.70 - Last Price
865.00 - Low
864.93 - 3-Day Simple Moving Average
843.98 - 20-Day Simple Moving Average Plus 1 Standard Deviation
837.19 - 10-Day Simple Moving Average
817.60 - 25-Day Simple Moving Average
811.70 - 50-Day Simple Moving Average
800.29 - 20-Day Simple Moving Average Minus 1 Standard Deviation
797.20 - Lowest Low in last 10-Days
778.45 - 20-Day Simple Moving Average Minus 2 Standard Deviations
766.31 - 100-Day Simple Moving Average
765.50 - Lowest Low in last 50-Days
719.15 - 200-Day Simple Moving Average
COMEX Silver:
Silver futures are weaker this morning reversing the firmer tone seen during the prior session. Trend indicators are indicating a bullish market and the overall strength of the trend is strong, as indicated by the ADX. Momentum readings are also in bullish territory. However, the market just signaled a bearish key reversal off a 10-Day new high, indicating potential weakness to come.
TREND INDICATORS:
Simple Moving Average (10-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 10-Day simple moving average has a strong bullish bias.
Simple Moving Average (25-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 25-Day simple moving average has a strong bullish bias.
Simple Moving Average (50-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 50-Day simple moving average has a strong bullish bias.
ADX: The Average Directional Change (ADX) indicates the strength of a markets underlying trend. A rising ADX is interpreted as building trend strength, while a falling ADX indicates weakness in the underlying trend and the potential of a market reversal. On this market, the 14-Day ADX is rising, while the long term trend, based on a 50-Day moving average, is up. As the ADX is rising it indicates that the current trend is strong and should remain intact. Look for the current trend to continue.
MOMENTUM INDICATORS:
MACD: The MACD is in bullish territory. However, the market just signaled a bearish key reversal off a 10-Day new high, indicating potential weakness to come.
RSI: The 14-Day RSI is in neutral territory. (RSI is at 66.83). This indicator issues bullish signals when the RSI line dips below the oversold zone (currently set at 20.00); a bearish signal is generated when the RSI rises into the overbought zone (currently set at 80.00). Nevertheless with the RSI at 66.83 the market is somewhat overbought suggesting a possible market decline. Further, a bearish key reversal off a 10-Day new high here makes a downturn in the market even more likely
VOLATILITY INDICATORS:
Bollinger Bands (20-Day Average +/-1 Standard Deviation): As prices are closer to the bottom band than the top band, the Bollinger Bands are indicating overbought prices. Volatility also appears to be increasing, as evidenced by a larger distance between the upper and lower bands over the past few sessions. Despite this overbought condition the market may become more overbought before turning lower. As a result, the market will look for additional weakening in prices before turning bearish on this indicator.
RESISTANCE AND SUPPORT LEVELS:
16.275 - Highest High in last 50-Days
15.540 - High
15.540 - Highest High in last 10-Days
15.528 - 20-Day Simple Moving Average Plus 2 Standard Deviations
15.430 - Last Price
15.430 - Low
15.407 - 3-Day Simple Moving Average
15.100 - 20-Day Simple Moving Average Plus 1 Standard Deviation
14.918 - 10-Day Simple Moving Average
14.649 - 50-Day Simple Moving Average
14.607 - 25-Day Simple Moving Average
14.243 - 20-Day Simple Moving Average Minus 1 Standard Deviation
14.080 - Lowest Low in last 10-Days
13.815 - 20-Day Simple Moving Average Minus 2 Standard Deviations
13.812 - 100-Day Simple Moving Average
13.615 - Lowest Low in last 50-Days
13.540 - 200-Day Simple Moving Average
MCXARUN
9994500540
Gold trading is weaker in ACCESS trade this morning reversing the firmer tone seen during the prior session. Trend indicators are indicating a bullish market and the overall strength of the trend is strong, as indicated by the ADX. Momentum readings are also in bullish territory.
TREND INDICATORS:
Simple Moving Average (10-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 10-Day simple moving average has a strong bullish bias.
Simple Moving Average (25-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 25-Day simple moving average has a strong bullish bias.
Simple Moving Average (50-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 50-Day simple moving average has a strong bullish bias.
ADX: The Average Directional Change (ADX) indicates the strength of a markets underlying trend. A rising ADX is interpreted as building trend strength, while a falling ADX indicates weakness in the underlying trend and the potential of a market reversal. On this market, the 14-Day ADX is rising, while the long term trend, based on a 50-Day moving average, is up. As the ADX is rising it indicates that the current trend is strong and should remain intact. Look for the current trend to continue.
MOMENTUM INDICATORS:
MACD: The MACD is in bullish territory.
RSI: The 14-Day RSI is in neutral territory. (RSI is at 70.44). This indicator issues bullish signals when the RSI line dips below the oversold zone (currently set at 20.00); a bearish signal is generated when the RSI rises into the overbought zone (currently set at 80.00). Nevertheless with the RSI at 70.44 the market is somewhat overbought. However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence of weakness from this indicator before getting too bearish here.
VOLATILITY INDICATORS:
Bollinger Bands (20-Day Average +/-1 Standard Deviation): As prices are closer to the bottom band than the top band, the Bollinger Bands are indicating overbought prices. Volatility also appears to be increasing, as evidenced by a larger distance between the upper and lower bands over the past few sessions. Despite this overbought condition the market may become more overbought before turning lower. As a result, the market will look for additional weakening in prices before turning bearish on this indicator.
RESISTANCE AND SUPPORT LEVELS:
872.90 - Highest High in last 50-Days
872.90 - Highest High in last 10-Days
870.20 - High
865.82 - 20-Day Simple Moving Average Plus 2 Standard Deviations
865.70 - Last Price
865.00 - Low
864.93 - 3-Day Simple Moving Average
843.98 - 20-Day Simple Moving Average Plus 1 Standard Deviation
837.19 - 10-Day Simple Moving Average
817.60 - 25-Day Simple Moving Average
811.70 - 50-Day Simple Moving Average
800.29 - 20-Day Simple Moving Average Minus 1 Standard Deviation
797.20 - Lowest Low in last 10-Days
778.45 - 20-Day Simple Moving Average Minus 2 Standard Deviations
766.31 - 100-Day Simple Moving Average
765.50 - Lowest Low in last 50-Days
719.15 - 200-Day Simple Moving Average
COMEX Silver:
Silver futures are weaker this morning reversing the firmer tone seen during the prior session. Trend indicators are indicating a bullish market and the overall strength of the trend is strong, as indicated by the ADX. Momentum readings are also in bullish territory. However, the market just signaled a bearish key reversal off a 10-Day new high, indicating potential weakness to come.
TREND INDICATORS:
Simple Moving Average (10-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 10-Day simple moving average has a strong bullish bias.
Simple Moving Average (25-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 25-Day simple moving average has a strong bullish bias.
Simple Moving Average (50-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 50-Day simple moving average has a strong bullish bias.
ADX: The Average Directional Change (ADX) indicates the strength of a markets underlying trend. A rising ADX is interpreted as building trend strength, while a falling ADX indicates weakness in the underlying trend and the potential of a market reversal. On this market, the 14-Day ADX is rising, while the long term trend, based on a 50-Day moving average, is up. As the ADX is rising it indicates that the current trend is strong and should remain intact. Look for the current trend to continue.
MOMENTUM INDICATORS:
MACD: The MACD is in bullish territory. However, the market just signaled a bearish key reversal off a 10-Day new high, indicating potential weakness to come.
RSI: The 14-Day RSI is in neutral territory. (RSI is at 66.83). This indicator issues bullish signals when the RSI line dips below the oversold zone (currently set at 20.00); a bearish signal is generated when the RSI rises into the overbought zone (currently set at 80.00). Nevertheless with the RSI at 66.83 the market is somewhat overbought suggesting a possible market decline. Further, a bearish key reversal off a 10-Day new high here makes a downturn in the market even more likely
VOLATILITY INDICATORS:
Bollinger Bands (20-Day Average +/-1 Standard Deviation): As prices are closer to the bottom band than the top band, the Bollinger Bands are indicating overbought prices. Volatility also appears to be increasing, as evidenced by a larger distance between the upper and lower bands over the past few sessions. Despite this overbought condition the market may become more overbought before turning lower. As a result, the market will look for additional weakening in prices before turning bearish on this indicator.
RESISTANCE AND SUPPORT LEVELS:
16.275 - Highest High in last 50-Days
15.540 - High
15.540 - Highest High in last 10-Days
15.528 - 20-Day Simple Moving Average Plus 2 Standard Deviations
15.430 - Last Price
15.430 - Low
15.407 - 3-Day Simple Moving Average
15.100 - 20-Day Simple Moving Average Plus 1 Standard Deviation
14.918 - 10-Day Simple Moving Average
14.649 - 50-Day Simple Moving Average
14.607 - 25-Day Simple Moving Average
14.243 - 20-Day Simple Moving Average Minus 1 Standard Deviation
14.080 - Lowest Low in last 10-Days
13.815 - 20-Day Simple Moving Average Minus 2 Standard Deviations
13.812 - 100-Day Simple Moving Average
13.615 - Lowest Low in last 50-Days
13.540 - 200-Day Simple Moving Average
MCXARUN
9994500540
OUT LOOK
February gold closed lower on Friday as it consolidated some of this week's rally but remains above resistance marked by
November's high crossing at 855.00. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the
RSI are overbought but are neutral signaling that sideways to higher prices are possible near-term. If February extends this
month's rally, weekly resistance crossing at 874.00 is the next upside target. Closes below the 10-day moving average crossing
at 836.90 would signal that a double top with November's high has been posted. First resistance is Thursday's high crossing at
872.90 then weekly resistance crossing at 874.00. First support is the 10-day moving average crossing at 836.90 then the 20-
day moving average crossing at 822.00.
March silver closed lower on Friday and as it consolidated some of this week's rally. The mid-range close sets the stage for a
steady opening on Monday. Stochastics and the RSI are overbought but remains neutral to bullish signaling that sideways to
higher prices are possible near-term. If March extends this week's rally, the 75% retracement level of the November-December
decline crossing at 15.768 is the next upside target. Closes below the 20-day moving average crossing at 14.669 would confirm
that a short-term top has been posted. First resistance is today's high crossing at 15.570 then the 75% retracement level crossing
at 15.768. First support is the 10-day moving average crossing at 14.914 then the 20-day moving average crossing at 14.669.
February crude oil closed lower on Friday due to profit taking as it consolidates below psychological resistance crossing at $100
per barrel. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are overbought
but are neutral signaling that sideways to higher prices are possible. If February extends this week's rally above November's
high crossing at 98.12, upside targets will be hard to project now that February is trading into uncharted territory. Closes below
the 20-day moving average crossing at 93.28 would temper the near-term friendly outlook in the market. First resistance is
Thursday's high crossing at 100.09. First support is broken resistance marked by November's high crossing at 98.12. Second
support is the 10-day moving average crossing at 95.92.
February Henry natural gas closed higher on Friday and closed above the 38% retracement level of the November-December
decline crossing at 7.759. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the
RSI remain bullish signaling that sideways to higher prices are possible near-term. If February extends this week's rally, the
50% retracement level of the November-December decline crossing at 8.010 is the next upside target. First resistance is
Thursday's high crossing at 7.980 then the 50% retracement level crossing at 8.010. First support is today's low crossing at
7.500. Second support is the 10-day moving average crossing at 7.425.
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November's high crossing at 855.00. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the
RSI are overbought but are neutral signaling that sideways to higher prices are possible near-term. If February extends this
month's rally, weekly resistance crossing at 874.00 is the next upside target. Closes below the 10-day moving average crossing
at 836.90 would signal that a double top with November's high has been posted. First resistance is Thursday's high crossing at
872.90 then weekly resistance crossing at 874.00. First support is the 10-day moving average crossing at 836.90 then the 20-
day moving average crossing at 822.00.
March silver closed lower on Friday and as it consolidated some of this week's rally. The mid-range close sets the stage for a
steady opening on Monday. Stochastics and the RSI are overbought but remains neutral to bullish signaling that sideways to
higher prices are possible near-term. If March extends this week's rally, the 75% retracement level of the November-December
decline crossing at 15.768 is the next upside target. Closes below the 20-day moving average crossing at 14.669 would confirm
that a short-term top has been posted. First resistance is today's high crossing at 15.570 then the 75% retracement level crossing
at 15.768. First support is the 10-day moving average crossing at 14.914 then the 20-day moving average crossing at 14.669.
February crude oil closed lower on Friday due to profit taking as it consolidates below psychological resistance crossing at $100
per barrel. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are overbought
but are neutral signaling that sideways to higher prices are possible. If February extends this week's rally above November's
high crossing at 98.12, upside targets will be hard to project now that February is trading into uncharted territory. Closes below
the 20-day moving average crossing at 93.28 would temper the near-term friendly outlook in the market. First resistance is
Thursday's high crossing at 100.09. First support is broken resistance marked by November's high crossing at 98.12. Second
support is the 10-day moving average crossing at 95.92.
February Henry natural gas closed higher on Friday and closed above the 38% retracement level of the November-December
decline crossing at 7.759. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the
RSI remain bullish signaling that sideways to higher prices are possible near-term. If February extends this week's rally, the
50% retracement level of the November-December decline crossing at 8.010 is the next upside target. First resistance is
Thursday's high crossing at 7.980 then the 50% retracement level crossing at 8.010. First support is today's low crossing at
7.500. Second support is the 10-day moving average crossing at 7.425.
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energy
Crude oil prices declined for the second consecutive session as weak economic data raised concerns that energy demand from the largest economy might shrink. Weakness in dollar however lent some support to the falling crude oil prices. Crude for February delivery closed down $1.27 at $97.91 a barrel on the New York Mercantile Exchange after the payrolls report spurred worries about the oil demand.
According to U.S. government report the unemployment rate shot up to 5% in December. Further, on a seasonally adjusted basis, nonfarm payrolls rose by 18,000 last month, the weakest job growth since August 2003. Economists were expecting payrolls to increase about 70,000 in December.
Dollar plunged further on the last trading day of the week as dismal payrolls data raised expectations of interest rate cut Fed. The dollar index fell 0.1% to 75.785.
Meanwhile, the EIA reported natural-gas inventories in the U.S. fell by 87 billion cubic feet in the week ended December 28. U.S. natural gas has fallen 620 billion cubic feet since the week ending Nov. 16.
The crude oil market is concerned about continuous decline in US crude oil stocks. The current commercial stocks can support about one and a half months of U.S. petroleum consumption, which is a quite low level.
MCX Crude Oil Jan (Daily Chart)
Technical Outlook:
Momentum studies have turned bullish; will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are increasing from over sold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 18-day EMA. The downside closing price reversal on the daily chart is somewhat positive.
Recommendations:
MCX Crude Oil Jan: Sell at 3840-50 for target of 3800 and 3760 with stop loss above 3875
MCX Natural gas Jan (Daily Chart)
Technical Outlook:
Momentum studies have turned bullish; will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are increasing from over sold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 18-day EMA. The downside closing price reversal on the daily chart is somewhat positive.
Recommendations:
MCX Natural Gas Jan: sell at 309-310 for the target of 306 and 303 with stop loss at 314
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According to U.S. government report the unemployment rate shot up to 5% in December. Further, on a seasonally adjusted basis, nonfarm payrolls rose by 18,000 last month, the weakest job growth since August 2003. Economists were expecting payrolls to increase about 70,000 in December.
Dollar plunged further on the last trading day of the week as dismal payrolls data raised expectations of interest rate cut Fed. The dollar index fell 0.1% to 75.785.
Meanwhile, the EIA reported natural-gas inventories in the U.S. fell by 87 billion cubic feet in the week ended December 28. U.S. natural gas has fallen 620 billion cubic feet since the week ending Nov. 16.
The crude oil market is concerned about continuous decline in US crude oil stocks. The current commercial stocks can support about one and a half months of U.S. petroleum consumption, which is a quite low level.
MCX Crude Oil Jan (Daily Chart)
Technical Outlook:
Momentum studies have turned bullish; will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are increasing from over sold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 18-day EMA. The downside closing price reversal on the daily chart is somewhat positive.
Recommendations:
MCX Crude Oil Jan: Sell at 3840-50 for target of 3800 and 3760 with stop loss above 3875
MCX Natural gas Jan (Daily Chart)
Technical Outlook:
Momentum studies have turned bullish; will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are increasing from over sold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 18-day EMA. The downside closing price reversal on the daily chart is somewhat positive.
Recommendations:
MCX Natural Gas Jan: sell at 309-310 for the target of 306 and 303 with stop loss at 314
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Base Metals
Copper prices though washed entire day’s gains as profit taking crept in and the US economic concerns rose once again from weaker than expected jobs data and rise in unemployment rate.
· The metal complex finished the Friday session with losses on poor US employment data. Meanwhile Dow Jones finished down by 256.54 points and FTSE by 130.9 points. Gold and oil also slipped.
· As per government reports, US unemployment rate stood at 5%, the highest in two years. In December the number of jobs added were a meager 18,000 as against a forecast of 70,000.
· Copper continued to trade better during the early trading hours following repots of a strike in Chambishi Copper smelter in Zambia. The smelter workers, around 500 in number, went on a strike for better pay and work conditions.
· The prices also obtained support from declines in SHFE weekly copper inventories and dollars weakness.
MCX Copper Feb (Daily Chart)
Technical Outlook:
Momentum studies are still bullish but are now at overbought levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are rising from oversold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 9-day moving average. The downside closing price reversal on the daily chart is somewhat negative.
Recommendations:
MCX Copper Feb: Buy at 274-75 for the target of 279 and 282 with stop loss at 270.50
MCX Zinc Jan (Daily Chart)
Technical Outlook:
Momentum studies are still bullish but are now at overbought levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are rising from oversold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 9-day moving average. The downside closing price reversal on the daily chart is somewhat negative.
Recommendations:
MCX Zinc Jan: Buy at 99.00-98.50 for the target of 103.20 and 105 with stop loss at 97.60
MCX Nickel Jan (Daily Chart)
Technical Outlook:
Momentum studies are still bullish but are now at overbought levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are rising from oversold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 9-day moving average. The downside closing price reversal on the daily chart is somewhat negative.
Recommendations:
MCX Nickel Jan: Buy at 1105-1100 for the target of 1135 and 1160 with stop loss at 1080
MCX Lead Dec (Daily Chart)
Technical Outlook:
Momentum studies are still bullish but are now at overbought levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are rising from oversold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 9-day moving average. The downside closing price reversal on the daily chart is somewhat negative.
Recommendations:
MCX Lead Jan: Buy at 103-102.50 for the target of 104.80 and 106.50 with stop loss at 100.80
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· The metal complex finished the Friday session with losses on poor US employment data. Meanwhile Dow Jones finished down by 256.54 points and FTSE by 130.9 points. Gold and oil also slipped.
· As per government reports, US unemployment rate stood at 5%, the highest in two years. In December the number of jobs added were a meager 18,000 as against a forecast of 70,000.
· Copper continued to trade better during the early trading hours following repots of a strike in Chambishi Copper smelter in Zambia. The smelter workers, around 500 in number, went on a strike for better pay and work conditions.
· The prices also obtained support from declines in SHFE weekly copper inventories and dollars weakness.
MCX Copper Feb (Daily Chart)
Technical Outlook:
Momentum studies are still bullish but are now at overbought levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are rising from oversold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 9-day moving average. The downside closing price reversal on the daily chart is somewhat negative.
Recommendations:
MCX Copper Feb: Buy at 274-75 for the target of 279 and 282 with stop loss at 270.50
MCX Zinc Jan (Daily Chart)
Technical Outlook:
Momentum studies are still bullish but are now at overbought levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are rising from oversold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 9-day moving average. The downside closing price reversal on the daily chart is somewhat negative.
Recommendations:
MCX Zinc Jan: Buy at 99.00-98.50 for the target of 103.20 and 105 with stop loss at 97.60
MCX Nickel Jan (Daily Chart)
Technical Outlook:
Momentum studies are still bullish but are now at overbought levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are rising from oversold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 9-day moving average. The downside closing price reversal on the daily chart is somewhat negative.
Recommendations:
MCX Nickel Jan: Buy at 1105-1100 for the target of 1135 and 1160 with stop loss at 1080
MCX Lead Dec (Daily Chart)
Technical Outlook:
Momentum studies are still bullish but are now at overbought levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are rising from oversold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 9-day moving average. The downside closing price reversal on the daily chart is somewhat negative.
Recommendations:
MCX Lead Jan: Buy at 103-102.50 for the target of 104.80 and 106.50 with stop loss at 100.80
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Bullion
Profit taking nudged gold and other precious metals lower Friday as crude oil also fell, equities tumbled and the euro pared its early gains
· On MCX, benchmark February gold closed at Rs.10, 902 per 10gm, sliding from a historical high of Rs. 11014 per 10 gram. Benchmark MCX March silver contract closed at Rs.19,967, falling from a recent weekly high of Rs. 20175 per kg.
· Dow Jones finished down by 256.54 points and FTSE by 130.9 points. After touching the $100 mark on Thursday, crude oil retreated below $98 per barrel on Friday.
· The underlying statement, however continues to remain upbeat in precious metals. Negative US economic data renewed concerns of a slowing US economy. As per government reports, US unemployment rate stood at 5%, the highest in two years. In December the number of jobs added were a meager 18,000 as against a forecast of 70,000.
MCX Gold Feb (Daily Chart)
Technical Outlook:
Momentum studies are still bullish but are now at overbought levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are rising from oversold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 9-day moving average. The downside closing price reversal on the daily chart is somewhat negative. The 9-day RSI over 70 indicates the market is approaching overbought levels. It is a mildly bearish indicator.
Recommendations:
MCX Gold Feb: sell at 10950-980 for the target of 10880 and 10820 with stop loss at 11020
MCX Silver Mar (Daily Chart)
Technical Outlook:
Momentum studies are still bullish but are now at overbought levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are rising from oversold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 9-day moving average. The downside closing price reversal on the daily chart is somewhat negative. The 9-day RSI over 70 indicates the market is approaching overbought levels. It is a mildly bearish indicator.
Recommendations:
MCX Silver March: sell at 19940-920 for the target of 19850 and 19700 with stop loss at 20050
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· On MCX, benchmark February gold closed at Rs.10, 902 per 10gm, sliding from a historical high of Rs. 11014 per 10 gram. Benchmark MCX March silver contract closed at Rs.19,967, falling from a recent weekly high of Rs. 20175 per kg.
· Dow Jones finished down by 256.54 points and FTSE by 130.9 points. After touching the $100 mark on Thursday, crude oil retreated below $98 per barrel on Friday.
· The underlying statement, however continues to remain upbeat in precious metals. Negative US economic data renewed concerns of a slowing US economy. As per government reports, US unemployment rate stood at 5%, the highest in two years. In December the number of jobs added were a meager 18,000 as against a forecast of 70,000.
MCX Gold Feb (Daily Chart)
Technical Outlook:
Momentum studies are still bullish but are now at overbought levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are rising from oversold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 9-day moving average. The downside closing price reversal on the daily chart is somewhat negative. The 9-day RSI over 70 indicates the market is approaching overbought levels. It is a mildly bearish indicator.
Recommendations:
MCX Gold Feb: sell at 10950-980 for the target of 10880 and 10820 with stop loss at 11020
MCX Silver Mar (Daily Chart)
Technical Outlook:
Momentum studies are still bullish but are now at overbought levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are rising from oversold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 9-day moving average. The downside closing price reversal on the daily chart is somewhat negative. The 9-day RSI over 70 indicates the market is approaching overbought levels. It is a mildly bearish indicator.
Recommendations:
MCX Silver March: sell at 19940-920 for the target of 19850 and 19700 with stop loss at 20050
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Technicals – MCX (Intra day calls)
CRUDE OIL (January) BULLISH ABOVE 3846BEARISH BELOW 3830
GOLD (February) BULLISH ABOVE 10925 BEARISH BELOW 10890
SILVER (March) BULLISH ABOVE 20005 BEARISH BELOW 19920
COPPER (February) BULLISH ABOVE 275.30 BEARISH BELOW 274.50
LEAD (January) BULLISH ABOVE 103.30 BEARISH BELOW 102.90
NICKEL (January) BULLISH ABOVE 1114 BEARISH BELOW 1110
ZINC (January) BULLISH ABOVE 98.90 BEARISH BELOW 98.50
GOLD (February) BULLISH ABOVE 10925 BEARISH BELOW 10890
SILVER (March) BULLISH ABOVE 20005 BEARISH BELOW 19920
COPPER (February) BULLISH ABOVE 275.30 BEARISH BELOW 274.50
LEAD (January) BULLISH ABOVE 103.30 BEARISH BELOW 102.90
NICKEL (January) BULLISH ABOVE 1114 BEARISH BELOW 1110
ZINC (January) BULLISH ABOVE 98.90 BEARISH BELOW 98.50
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