Copper:
Copper trade on ACCESS is showing weaker prices in recent activity reversing the firmer tone seen during the prior session. Trend indicators are indicating a bullish market. However the overall strength of the trend, as indicated by the ADX, is weak and should be watched as a result. 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 falling, while the long term trend, based on a 50-Day moving average, is up. However, the weak ADX indicates that the current trend is deteriorating and may possibly reverse. Look for choppiness ahead.
MOMENTUM INDICATORS:
MACD: The MACD is in bullish territory.
RSI: The 14-Day RSI is in neutral territory. (RSI is at 55.11). 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 55.11 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:
3.3785 - Highest High in last 50-Days
3.3716 - 20-Day Simple Moving Average Plus 2 Standard Deviations
3.3641 - 200-Day Simple Moving Average
3.3475 - Highest High in last 10-Days
3.3160 - High
3.3008 - 20-Day Simple Moving Average Plus 1 Standard Deviation
3.2965 - Last Price
3.2862 - 100-Day Simple Moving Average
3.2760 - Low
3.2725 - 3-Day Simple Moving Average
3.2586 - 10-Day Simple Moving Average
3.2327 - 25-Day Simple Moving Average
3.1591 - 20-Day Simple Moving Average Minus 1 Standard Deviation
3.1439 - 50-Day Simple Moving Average
3.1165 - Lowest Low in last 10-Days
3.0883 - 20-Day Simple Moving Average Minus 2 Standard Deviations
2.8530 - Lowest Low in last 50-Days
MCXARUN
9994500540
Monday, February 11, 2008
energy trend indicater
rude Oil:
Front month crude oil is weaker in ACCESS trade this morning extending the prior sessions weaker close. Trend indicators are indicating a bearish market and the overall strength of the trend is strong, as indicated by the ADX. Momentum readings are also in bearish territory. Also, the market just put in a 50-Day new low here, indicating further weakness. More lows are likely here.
TREND INDICATORS:
Simple Moving Average (10-Day): Recent activity this morning has seen prices trade below this moving average. Also, the slope of the moving average is in a downward slope from the previous session indicating further weakness. As a result the 10-Day simple moving average has a strong bearish bias.
Simple Moving Average (25-Day): Recent activity this morning has seen prices trade below this moving average. Also, the slope of the moving average is in a downward slope from the previous session indicating further weakness. As a result the 25-Day simple moving average has a strong bearish bias.
Simple Moving Average (50-Day): Recent activity this morning has seen prices trade below this moving average. Also, the slope of the moving average is in a downward slope from the previous session indicating further weakness. As a result the 50-Day simple moving average has a strong 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 is rising this 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 bearish territory. Also, the market just put in a 50-Day new low here, indicating further weakness. More lows are likely here.
RSI: The 14-Day RSI is in neutral territory. (RSI is at 37.82). 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 37.82 the market is somewhat oversold, but given the 50-Day new low here, greater oversold levels are 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 oversold prices. Volatility also appears to be decreasing, as evidenced by a smaller distance between the upper and lower bands over the past few sessions. Despite this oversold condition the market may become more oversold before turning higher. As a result, the market will look for additional strength in prices before turning bullish on this indicator.
RESISTANCE AND SUPPORT LEVELS:
100.09 - Highest High in last 50-Days
94.48 - 20-Day Simple Moving Average Plus 2 Standard Deviations
92.71 - Highest High in last 10-Days
92.44 - 20-Day Simple Moving Average Plus 1 Standard Deviation
91.83 - 50-Day Simple Moving Average
91.68 - 25-Day Simple Moving Average
90.06 - 100-Day Simple Moving Average
89.89 - 10-Day Simple Moving Average
88.36 - 20-Day Simple Moving Average Minus 1 Standard Deviation
87.51 - 3-Day Simple Moving Average
87.13 - High
86.99 - Last Price
86.81 - Low
86.66 - Lowest Low in last 10-Days
86.31 - 20-Day Simple Moving Average Minus 2 Standard Deviations
85.42 - Lowest Low in last 50-Days
80.14 - 200-Day Simple Moving Average
Natural Gas:
Natural Gas contracts are higher this morning extending the prior sessions gains. Trend indicators are indicating a bullish market. However the overall strength of the trend, as indicated by the ADX, is weak and should be watched as a result.
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 falling, while the long term trend, based on a 50-Day moving average, is up. However, the weak ADX indicates that the current trend is deteriorating and may possibly reverse. Look for choppiness ahead.
MOMENTUM INDICATORS:
MACD: The MACD is in bearish territory. However, the recent upturn in the difference between the MACD and the MACD signal line may indicate a short term rally over the next few days.
RSI: The 14-Day RSI is in neutral territory. (RSI is at 56.61). 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 56.61 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:
8.480 - Highest High in last 50-Days
8.340 - 20-Day Simple Moving Average Plus 2 Standard Deviations
8.160 - 20-Day Simple Moving Average Plus 1 Standard Deviation
8.130 - Highest High in last 10-Days
8.070 - High
8.070 - Last Price
8.010 - Low
8.002 - 3-Day Simple Moving Average
7.986 - 25-Day Simple Moving Average
7.970 - 10-Day Simple Moving Average
7.800 - 20-Day Simple Moving Average Minus 1 Standard Deviation
7.625 - 50-Day Simple Moving Average
7.620 - 20-Day Simple Moving Average Minus 2 Standard Deviations
7.580 - Lowest Low in last 10-Days
7.494 - 100-Day Simple Moving Average
7.189 - 200-Day Simple Moving Average
6.914 - Lowest Low in last 50-Days
MCXARUN
9994500540
Front month crude oil is weaker in ACCESS trade this morning extending the prior sessions weaker close. Trend indicators are indicating a bearish market and the overall strength of the trend is strong, as indicated by the ADX. Momentum readings are also in bearish territory. Also, the market just put in a 50-Day new low here, indicating further weakness. More lows are likely here.
TREND INDICATORS:
Simple Moving Average (10-Day): Recent activity this morning has seen prices trade below this moving average. Also, the slope of the moving average is in a downward slope from the previous session indicating further weakness. As a result the 10-Day simple moving average has a strong bearish bias.
Simple Moving Average (25-Day): Recent activity this morning has seen prices trade below this moving average. Also, the slope of the moving average is in a downward slope from the previous session indicating further weakness. As a result the 25-Day simple moving average has a strong bearish bias.
Simple Moving Average (50-Day): Recent activity this morning has seen prices trade below this moving average. Also, the slope of the moving average is in a downward slope from the previous session indicating further weakness. As a result the 50-Day simple moving average has a strong 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 is rising this 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 bearish territory. Also, the market just put in a 50-Day new low here, indicating further weakness. More lows are likely here.
RSI: The 14-Day RSI is in neutral territory. (RSI is at 37.82). 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 37.82 the market is somewhat oversold, but given the 50-Day new low here, greater oversold levels are 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 oversold prices. Volatility also appears to be decreasing, as evidenced by a smaller distance between the upper and lower bands over the past few sessions. Despite this oversold condition the market may become more oversold before turning higher. As a result, the market will look for additional strength in prices before turning bullish on this indicator.
RESISTANCE AND SUPPORT LEVELS:
100.09 - Highest High in last 50-Days
94.48 - 20-Day Simple Moving Average Plus 2 Standard Deviations
92.71 - Highest High in last 10-Days
92.44 - 20-Day Simple Moving Average Plus 1 Standard Deviation
91.83 - 50-Day Simple Moving Average
91.68 - 25-Day Simple Moving Average
90.06 - 100-Day Simple Moving Average
89.89 - 10-Day Simple Moving Average
88.36 - 20-Day Simple Moving Average Minus 1 Standard Deviation
87.51 - 3-Day Simple Moving Average
87.13 - High
86.99 - Last Price
86.81 - Low
86.66 - Lowest Low in last 10-Days
86.31 - 20-Day Simple Moving Average Minus 2 Standard Deviations
85.42 - Lowest Low in last 50-Days
80.14 - 200-Day Simple Moving Average
Natural Gas:
Natural Gas contracts are higher this morning extending the prior sessions gains. Trend indicators are indicating a bullish market. However the overall strength of the trend, as indicated by the ADX, is weak and should be watched as a result.
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 falling, while the long term trend, based on a 50-Day moving average, is up. However, the weak ADX indicates that the current trend is deteriorating and may possibly reverse. Look for choppiness ahead.
MOMENTUM INDICATORS:
MACD: The MACD is in bearish territory. However, the recent upturn in the difference between the MACD and the MACD signal line may indicate a short term rally over the next few days.
RSI: The 14-Day RSI is in neutral territory. (RSI is at 56.61). 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 56.61 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:
8.480 - Highest High in last 50-Days
8.340 - 20-Day Simple Moving Average Plus 2 Standard Deviations
8.160 - 20-Day Simple Moving Average Plus 1 Standard Deviation
8.130 - Highest High in last 10-Days
8.070 - High
8.070 - Last Price
8.010 - Low
8.002 - 3-Day Simple Moving Average
7.986 - 25-Day Simple Moving Average
7.970 - 10-Day Simple Moving Average
7.800 - 20-Day Simple Moving Average Minus 1 Standard Deviation
7.625 - 50-Day Simple Moving Average
7.620 - 20-Day Simple Moving Average Minus 2 Standard Deviations
7.580 - Lowest Low in last 10-Days
7.494 - 100-Day Simple Moving Average
7.189 - 200-Day Simple Moving Average
6.914 - Lowest Low in last 50-Days
MCXARUN
9994500540
precious metals
COMEX Gold:
Gold trading is higher in ACCESS trade this morning 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 below this moving average. Also, the slope of the moving average is in a downward slope from the previous session indicating further weakness. As a result the 10-Day simple moving average has a strong bearish 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 falling, while the long term trend, based on a 50-Day moving average, is up. However, the weak ADX indicates that the current trend is deteriorating and may possibly reverse. Look for choppiness ahead.
MOMENTUM INDICATORS:
MACD: The MACD is in bearish territory. However, the recent upturn in the difference between the MACD and the MACD signal line may indicate a short term rally over the next few days.
RSI: The 14-Day RSI is in neutral territory. (RSI is at 58.71). 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 58.71 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.
COMEX Silver:
Silver futures are higher this morning extending the prior sessions gains. Trend indicators are indicating a bullish market. However the overall strength of the trend, as indicated by the ADX, is weak and should be watched as a result.
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 falling, while the long term trend, based on a 50-Day moving average, is up. However, the weak ADX indicates that the current trend is deteriorating and may possibly reverse. Look for choppiness ahead.
MOMENTUM INDICATORS:
MACD: The MACD is in bearish territory. However, the recent upturn in the difference between the MACD and the MACD signal line may indicate a short term rally over the next few days.
RSI: The 14-Day RSI is in neutral territory. (RSI is at 63.20). 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 63.20 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:
17.345 - Highest High in last 50-Days
17.345 - Highest High in last 10-Days
17.202 - 20-Day Simple Moving Average Plus 2 Standard Deviations
16.955 - High
16.940 - Last Price
16.825 - 20-Day Simple Moving Average Plus 1 Standard Deviation
16.785 - Low
16.757 - 10-Day Simple Moving Average
16.755 - 3-Day Simple Moving Average
16.342 - 25-Day Simple Moving Average
16.230 - Lowest Low in last 10-Days
16.071 - 20-Day Simple Moving Average Minus 1 Standard Deviation
15.694 - 20-Day Simple Moving Average Minus 2 Standard Deviations
15.475 - 50-Day Simple Moving Average
14.823 - 100-Day Simple Moving Average
13.869 - 200-Day Simple Moving Average
13.740 - Lowest Low in last 50-Days
MCXARUN
9994500540
Gold trading is higher in ACCESS trade this morning 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 below this moving average. Also, the slope of the moving average is in a downward slope from the previous session indicating further weakness. As a result the 10-Day simple moving average has a strong bearish 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 falling, while the long term trend, based on a 50-Day moving average, is up. However, the weak ADX indicates that the current trend is deteriorating and may possibly reverse. Look for choppiness ahead.
MOMENTUM INDICATORS:
MACD: The MACD is in bearish territory. However, the recent upturn in the difference between the MACD and the MACD signal line may indicate a short term rally over the next few days.
RSI: The 14-Day RSI is in neutral territory. (RSI is at 58.71). 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 58.71 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.
COMEX Silver:
Silver futures are higher this morning extending the prior sessions gains. Trend indicators are indicating a bullish market. However the overall strength of the trend, as indicated by the ADX, is weak and should be watched as a result.
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 falling, while the long term trend, based on a 50-Day moving average, is up. However, the weak ADX indicates that the current trend is deteriorating and may possibly reverse. Look for choppiness ahead.
MOMENTUM INDICATORS:
MACD: The MACD is in bearish territory. However, the recent upturn in the difference between the MACD and the MACD signal line may indicate a short term rally over the next few days.
RSI: The 14-Day RSI is in neutral territory. (RSI is at 63.20). 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 63.20 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:
17.345 - Highest High in last 50-Days
17.345 - Highest High in last 10-Days
17.202 - 20-Day Simple Moving Average Plus 2 Standard Deviations
16.955 - High
16.940 - Last Price
16.825 - 20-Day Simple Moving Average Plus 1 Standard Deviation
16.785 - Low
16.757 - 10-Day Simple Moving Average
16.755 - 3-Day Simple Moving Average
16.342 - 25-Day Simple Moving Average
16.230 - Lowest Low in last 10-Days
16.071 - 20-Day Simple Moving Average Minus 1 Standard Deviation
15.694 - 20-Day Simple Moving Average Minus 2 Standard Deviations
15.475 - 50-Day Simple Moving Average
14.823 - 100-Day Simple Moving Average
13.869 - 200-Day Simple Moving Average
13.740 - Lowest Low in last 50-Days
MCXARUN
9994500540
energy
Crude-oil prices surged sharply after some delegates of the Organization of Petroleum Exporting Countries said the cartel should cut production to support the prices. Production stoppages in North Sea and Africa also continued to support the prices. Crude oil for March delivery on NYMEX soared $3.66 to end at $91.77 a barrel.
· MCX crude closed higher today and posted an increase of 3.2 per cent over the week. MCX crude surged this week tracking the upturn movement on international exchange. Nymex crude surged 3.2 per cent this week after sliding 1.9 per cent in the previous week.
· Nymex crude rallied 4.2 per cent yesterday, the biggest one day rise since Dec 12, to settle at the highest price since Jan 30. Nymex crude rose sharply yesterday on supply jitters related to Nigeria and Venezuela, expectations of higher demand for heating fuels as colder weather is forecasted in U.S. Northeast this weekend, speculation that OPEC will cut output at it March meet and reports that North Sea crude oil shipments may fall in March.
· MCX gas closed weaker today but noted an increase of 6.6 per cent over the week tracking the upturn movement on international exchange. Nymex gas surged 7.2 per cent this week after falling 2.7 per cent in the previous week.
· Nymex gas jumped 2.5 per cent Friday to settle at the highest price since Jan 14. Nymex gas surged for the fifth day yesterday supported by sharp rise in crude oil futures and expectations that heating demand may increase as colder weather is forecasted for U.S. Northeast and Midwest in the near term.
· Recent build up in US crude oil inventories and lower demand during shoulder period is likely to induce OPEC to cut production in its forthcoming meeting on 5th March. Some deligates of the cartel have already given signals for the same recently.
· Halt in crude oil production in Nigeria and North Sea is also lending some support to the crude oil prices. Royal Dutch Shell said Thursday it was halting 130,000 barrels per day of Nigerian output because of pipeline leaks. The oil supplies from Africa's biggest oil producer and a major U.S. supplier is likely to fall due to the nation's deteriorating security situation and planned maintenance.
· The crude oil prices also rose on news that North Sea oil production has been cut by 280,000 barrels a day due to technical problems at a Total SA oil field, and that Russian crude output could fall this year due to the depletion of a large oil field.
MCX Crude Oil Feb (Daily Chart)
Technical Outlook:
Momentum studies are 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 Crude Oil Feb: Buy at 3580 for the target of 3660 and 3730 with stop loss at 3535
MCX Natural gas Feb (Daily Chart)
Technical Outlook:
Momentum studies are 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:
MCXARUN
9994500540
· MCX crude closed higher today and posted an increase of 3.2 per cent over the week. MCX crude surged this week tracking the upturn movement on international exchange. Nymex crude surged 3.2 per cent this week after sliding 1.9 per cent in the previous week.
· Nymex crude rallied 4.2 per cent yesterday, the biggest one day rise since Dec 12, to settle at the highest price since Jan 30. Nymex crude rose sharply yesterday on supply jitters related to Nigeria and Venezuela, expectations of higher demand for heating fuels as colder weather is forecasted in U.S. Northeast this weekend, speculation that OPEC will cut output at it March meet and reports that North Sea crude oil shipments may fall in March.
· MCX gas closed weaker today but noted an increase of 6.6 per cent over the week tracking the upturn movement on international exchange. Nymex gas surged 7.2 per cent this week after falling 2.7 per cent in the previous week.
· Nymex gas jumped 2.5 per cent Friday to settle at the highest price since Jan 14. Nymex gas surged for the fifth day yesterday supported by sharp rise in crude oil futures and expectations that heating demand may increase as colder weather is forecasted for U.S. Northeast and Midwest in the near term.
· Recent build up in US crude oil inventories and lower demand during shoulder period is likely to induce OPEC to cut production in its forthcoming meeting on 5th March. Some deligates of the cartel have already given signals for the same recently.
· Halt in crude oil production in Nigeria and North Sea is also lending some support to the crude oil prices. Royal Dutch Shell said Thursday it was halting 130,000 barrels per day of Nigerian output because of pipeline leaks. The oil supplies from Africa's biggest oil producer and a major U.S. supplier is likely to fall due to the nation's deteriorating security situation and planned maintenance.
· The crude oil prices also rose on news that North Sea oil production has been cut by 280,000 barrels a day due to technical problems at a Total SA oil field, and that Russian crude output could fall this year due to the depletion of a large oil field.
MCX Crude Oil Feb (Daily Chart)
Technical Outlook:
Momentum studies are 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 Crude Oil Feb: Buy at 3580 for the target of 3660 and 3730 with stop loss at 3535
MCX Natural gas Feb (Daily Chart)
Technical Outlook:
Momentum studies are 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:
MCXARUN
9994500540
Bullion
Gold futures rose Friday as crude oil rallied sharply, and also on safe-haven buying amid the ongoing uncertainty about other financial markets. Fund buying was reported.
· Gold trades up on MCX tracing Friday's gains in international gold and oil markets. Further supporting the precious metals complex were the ongoing supply problems in South Africa and the mild fall in dollar against the euro.
· On Friday, International spot gold last traded at USD 923.20 troy an ounce, edging up by USD 11.80. It touched an all time high of USD 936.70 troy an ounce on 30th January. Meanwhile New York Mercantile Exchange (NYMEX) crude oil added more than USD 3 to settle at around USD 92 per barrel.
· On MCX, benchmark April closed near weekly high of Rs.11738 per 10 gram following continuous gains from last four days. Similarly MCX Silver march also closed near weekly high of Rs.21926 per kg .
· Bullion having strong recovery of 4% from weekly lows and indicating further bullish momentum ahead.
Indian Bullion Spot Market
Spot gold is trading firmly back above USD900 a troy ounce Friday and spot platinum continues to be supported by supply concerns stemming from power shortages inSouth Africa.
· In Mumbai markets, gold (995) elevated by Rs 80 to finish at Rs 11,710/10gm and gold (.999) by Rs 75 to finish at Rs 11,760/10g. Arrivals in gold were at 200 kilos and traded volumes at 100 kilos. Silver (.999) was up by Rs 265 to close at Rs.21,370/kg. Arrivals in silver were at 150 kilos and traded volumes at 100 kilos.
· Chennai gold (995) and gold (.999) increased by Rs 80 to finish at Rs 11,730/10gm and Rs 11,780/10gm respectively whereas Silver (.999) edged up by Rs 250 to close at Rs 20,900/kg.
· Jaipur gold standard shot up by Rs 100 to close at Rs.11,800/10gm whereas Silver (.999) rose by Rs 100 at Rs 21,200/kg.
· Ahmedabad gold (995) advanced by Rs 75 to close at Rs 11,705/10gm and gold (.999) by Rs 70 to 11,750/10gm respectively whereas Silver (.999) was up by Rs 325 to close at Rs 21,525/kg.
· In Delhi bullion markets, gold (995) rose by Rs 160 to close at Rs.11,760/10gm and gold (.999) by Rs 80 to Rs 11,820/10gm respectively whereas Silver (.999) ends Rs.21,100/kg, up by Rs 400.
MCX Gold Apr (Daily Chart)
Technical Outlook:
Momentum studies are 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 Gold April: Sell at 11720-730 for the target of 11640 and 11590 with stop loss at 11745
MCX Silver Mar (Daily Chart)
Technical Outlook:
Momentum studies are 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 Silver March: Buy at 21900-930 for the target of 21890 and 21750 with stop loss at 22010
MCXARUN
9994500540
· Gold trades up on MCX tracing Friday's gains in international gold and oil markets. Further supporting the precious metals complex were the ongoing supply problems in South Africa and the mild fall in dollar against the euro.
· On Friday, International spot gold last traded at USD 923.20 troy an ounce, edging up by USD 11.80. It touched an all time high of USD 936.70 troy an ounce on 30th January. Meanwhile New York Mercantile Exchange (NYMEX) crude oil added more than USD 3 to settle at around USD 92 per barrel.
· On MCX, benchmark April closed near weekly high of Rs.11738 per 10 gram following continuous gains from last four days. Similarly MCX Silver march also closed near weekly high of Rs.21926 per kg .
· Bullion having strong recovery of 4% from weekly lows and indicating further bullish momentum ahead.
Indian Bullion Spot Market
Spot gold is trading firmly back above USD900 a troy ounce Friday and spot platinum continues to be supported by supply concerns stemming from power shortages inSouth Africa.
· In Mumbai markets, gold (995) elevated by Rs 80 to finish at Rs 11,710/10gm and gold (.999) by Rs 75 to finish at Rs 11,760/10g. Arrivals in gold were at 200 kilos and traded volumes at 100 kilos. Silver (.999) was up by Rs 265 to close at Rs.21,370/kg. Arrivals in silver were at 150 kilos and traded volumes at 100 kilos.
· Chennai gold (995) and gold (.999) increased by Rs 80 to finish at Rs 11,730/10gm and Rs 11,780/10gm respectively whereas Silver (.999) edged up by Rs 250 to close at Rs 20,900/kg.
· Jaipur gold standard shot up by Rs 100 to close at Rs.11,800/10gm whereas Silver (.999) rose by Rs 100 at Rs 21,200/kg.
· Ahmedabad gold (995) advanced by Rs 75 to close at Rs 11,705/10gm and gold (.999) by Rs 70 to 11,750/10gm respectively whereas Silver (.999) was up by Rs 325 to close at Rs 21,525/kg.
· In Delhi bullion markets, gold (995) rose by Rs 160 to close at Rs.11,760/10gm and gold (.999) by Rs 80 to Rs 11,820/10gm respectively whereas Silver (.999) ends Rs.21,100/kg, up by Rs 400.
MCX Gold Apr (Daily Chart)
Technical Outlook:
Momentum studies are 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 Gold April: Sell at 11720-730 for the target of 11640 and 11590 with stop loss at 11745
MCX Silver Mar (Daily Chart)
Technical Outlook:
Momentum studies are 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 Silver March: Buy at 21900-930 for the target of 21890 and 21750 with stop loss at 22010
MCXARUN
9994500540
Metals & Energy Outlook
Technicals – MCX (Intra day calls)
CRUDE OIL (February) BULLISH ABOVE 3617 BEARISH BELOW 3600
GOLD (April) BULLISH ABOVE 11740 BEARISH BELOW 11702
SILVER (March) BULLISH ABOVE 21942 BEARISH BELOW 21850
COPPER (February) BULLISH ABOVE 307.20 BEARISH BELOW 306.40
LEAD (February) BULLISH ABOVE 117.70 BEARISH BELOW 117.20
NICKEL (February) BULLISH ABOVE 1105 BEARISH BELOW 1100
ZINC (February) BULLISH ABOVE 97.20 BEARISH BELOW 96.80
MCXARUN
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CRUDE OIL (February) BULLISH ABOVE 3617 BEARISH BELOW 3600
GOLD (April) BULLISH ABOVE 11740 BEARISH BELOW 11702
SILVER (March) BULLISH ABOVE 21942 BEARISH BELOW 21850
COPPER (February) BULLISH ABOVE 307.20 BEARISH BELOW 306.40
LEAD (February) BULLISH ABOVE 117.70 BEARISH BELOW 117.20
NICKEL (February) BULLISH ABOVE 1105 BEARISH BELOW 1100
ZINC (February) BULLISH ABOVE 97.20 BEARISH BELOW 96.80
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outlook
April gold closed higher on Friday and above the 10-day moving average crossing at 916.90 tempering the near-term bearish
outlook in the market. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI
are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this week's rally,
January's high crossing at 942.20 is the next upside target. Closes below Tuesday's low crossing at 888.40 would open the door
for a larger-degree decline during February. First resistance is today's high crossing at 924.50 then January's high crossing at
942.20. First support is the 20-day moving average crossing at 908.30. Second support is Tuesday's low crossing at 888.40.
March silver closed higher on Friday and the high-range close sets the stage for a steady to higher opening on Monday.
Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March
extends this week's rally, this month's high crossing at 17.345 then weekly resistance crossing at 17.500 are the next upside
targets. First resistance is today's high crossing at 17.220 then last Friday's high crossing at 17.345. First support is today's
low crossing at 16.785 then the 20-day moving average crossing at 16.494.
March copper closed sharply higher for the third day in a row on Friday and spiked above the 75% retracement level of the
October-December decline crossing at 352.60. The high-range close sets the stage for a steady to higher opening on Monday.
Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If March extends today's
rally, the 87% retracement level crossing at 363.80 is the next upside target. Closes below the 10-day moving average crossing
at 330.82 would confirm that a short-term top has been posted. First resistance is today's high crossing at 356.40. Second
resistance is the 87% retracement level crossing at 363.80. First support is today's low crossing at 342.50. Second support is
the 62% retracement level crossing at 340.77.
March crude oil closed sharply higher on Friday and above the 20-day moving average crossing at 90.25. Today's high-range
close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning neutral to bullish signaling
that sideways to higher prices are possible near-term. Closes above last week's high crossing at 92.71 are needed to confirm that
a short-term low has been posted. If March extends the decline off last week's high, January's low crossing at 85.42 is the next
downside target. First resistance is today's high crossing at 91.94. Second resistance is last week's high crossing at 92.71. First
support is Thursday's low crossing at 86.24. Second support is January's low crossing at 85.42.
March Henry natural gas closed higher on Friday and 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 March
extends this week's rally, January's high crossing at 8.397 is the next downside target. Closes below the 20-day moving average
crossing at 7.980 would temper the near-term friendly outlook in the market. First resistance is today's high crossing at 8.33
then January's high crossing at 8.397. First support is today's low crossing at 8.059. Second support is the 20-day moving
average crossing at 7.980.
MCXARUN
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outlook in the market. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI
are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this week's rally,
January's high crossing at 942.20 is the next upside target. Closes below Tuesday's low crossing at 888.40 would open the door
for a larger-degree decline during February. First resistance is today's high crossing at 924.50 then January's high crossing at
942.20. First support is the 20-day moving average crossing at 908.30. Second support is Tuesday's low crossing at 888.40.
March silver closed higher on Friday and the high-range close sets the stage for a steady to higher opening on Monday.
Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March
extends this week's rally, this month's high crossing at 17.345 then weekly resistance crossing at 17.500 are the next upside
targets. First resistance is today's high crossing at 17.220 then last Friday's high crossing at 17.345. First support is today's
low crossing at 16.785 then the 20-day moving average crossing at 16.494.
March copper closed sharply higher for the third day in a row on Friday and spiked above the 75% retracement level of the
October-December decline crossing at 352.60. The high-range close sets the stage for a steady to higher opening on Monday.
Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If March extends today's
rally, the 87% retracement level crossing at 363.80 is the next upside target. Closes below the 10-day moving average crossing
at 330.82 would confirm that a short-term top has been posted. First resistance is today's high crossing at 356.40. Second
resistance is the 87% retracement level crossing at 363.80. First support is today's low crossing at 342.50. Second support is
the 62% retracement level crossing at 340.77.
March crude oil closed sharply higher on Friday and above the 20-day moving average crossing at 90.25. Today's high-range
close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning neutral to bullish signaling
that sideways to higher prices are possible near-term. Closes above last week's high crossing at 92.71 are needed to confirm that
a short-term low has been posted. If March extends the decline off last week's high, January's low crossing at 85.42 is the next
downside target. First resistance is today's high crossing at 91.94. Second resistance is last week's high crossing at 92.71. First
support is Thursday's low crossing at 86.24. Second support is January's low crossing at 85.42.
March Henry natural gas closed higher on Friday and 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 March
extends this week's rally, January's high crossing at 8.397 is the next downside target. Closes below the 20-day moving average
crossing at 7.980 would temper the near-term friendly outlook in the market. First resistance is today's high crossing at 8.33
then January's high crossing at 8.397. First support is today's low crossing at 8.059. Second support is the 20-day moving
average crossing at 7.980.
MCXARUN
9994500540
GENERAL MARKET CONDITIONS
In 2008 the trend so far in gold has been that gold rises multiple times faster than declining including last week. It seems equity investors are the most nervous lot as they increase their investment in gold and gold related instruments. Every now and then we hear comments on the progress of the global economy from some central banker, political leader, or big names in hedge fund industry. These comments are only creating uncertainty in the mindset of equity investors which is benefiting gold more than any other investment. Humans have two ears, two nose, two eyes, two hands, two legs and one big mouth. These guys are using only their big mouths instead of doing something positive to ensure that global financial markets stabilize. Unless the influential people stop using their big mouths global financial markets will be volatile and gold will benefit more than any other financial instrument.
Interest rate cuts will not create overnight growth. There is a time lag for interest rate cuts to have a trickle down effect which may vary from two months to six months. Equity investors need to be patient and remain invested in sector specific stocks and also look for stocks which offer cheap valuations. 2008 will provide a good long term investment opportunity in all markets including India. However returns will be lower than 2007 which investors have to realize.
It's interesting how weather has changed the outlook for base metals. Earlier traders and investors were going short in base metals on every rise and now the reverse is happening. Record Snowfall in China will result in greater demand for base metals, despite expectations of a global slowdown in 2008. China will need more copper and aluminum for electricity transmission and other areas. Factories which were closed due to snowfall will start and there will be greater short term demand for base metals than earlier expected in short term. Steel is still a great long term bull story. Copper, zinc, nickel and lead can rise in the short term and may in the next two to three months but the rise will be accompanied by a high degree of volatility.
The G7 has approved IMF gold sales, which could start as early as April, which is far off. This will not alter the medium term bullish in gold. In the short term gold can fall if some of the traders reduce their longs. This week gold will be volatile. The technical picture is still bullish in gold but will be vulnerable to sharp corrections. It's all about "pace" not just for the day for day traders but also for the medium term traders in gold and silver. "Pace" implies speed of rise or speed of decline in gold and silver. If one is able to determine the pace correctly, he will mint money.
GOLD -- APRIL FUTURE -- INTRA DAY PIVOT:$920.30
NYMEX CRUDE OIL -- FUTURE -- INTRA DAY PIVOT: $90.20
Crude oil targets $94.56 and $99.77 as long as $89.90 holds.
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Interest rate cuts will not create overnight growth. There is a time lag for interest rate cuts to have a trickle down effect which may vary from two months to six months. Equity investors need to be patient and remain invested in sector specific stocks and also look for stocks which offer cheap valuations. 2008 will provide a good long term investment opportunity in all markets including India. However returns will be lower than 2007 which investors have to realize.
It's interesting how weather has changed the outlook for base metals. Earlier traders and investors were going short in base metals on every rise and now the reverse is happening. Record Snowfall in China will result in greater demand for base metals, despite expectations of a global slowdown in 2008. China will need more copper and aluminum for electricity transmission and other areas. Factories which were closed due to snowfall will start and there will be greater short term demand for base metals than earlier expected in short term. Steel is still a great long term bull story. Copper, zinc, nickel and lead can rise in the short term and may in the next two to three months but the rise will be accompanied by a high degree of volatility.
The G7 has approved IMF gold sales, which could start as early as April, which is far off. This will not alter the medium term bullish in gold. In the short term gold can fall if some of the traders reduce their longs. This week gold will be volatile. The technical picture is still bullish in gold but will be vulnerable to sharp corrections. It's all about "pace" not just for the day for day traders but also for the medium term traders in gold and silver. "Pace" implies speed of rise or speed of decline in gold and silver. If one is able to determine the pace correctly, he will mint money.
GOLD -- APRIL FUTURE -- INTRA DAY PIVOT:$920.30
$924 price target achieved, gold now has to break $942 for $954 and $968. For the day gold has to fall below $916 for a move back to $904 and $897.0
NYMEX CRUDE OIL -- FUTURE -- INTRA DAY PIVOT: $90.20
Crude oil targets $94.56 and $99.77 as long as $89.90 holds.
MCXARUN
9994500540
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