G-1002.40
S-20.12
C.oil-104.82
INR-40.66
USD-71.27
1g -1335
E-1.5777
Y-97.24
P-2.0028
MCX
G-13107
S-26189
Cr-4240
Cu-332.80
*HI-CHOICE-10.45 AM*
we are sending like this to your mobiles in every 10 miniuts,
you can find where market is going on,and we will give support prices like USD and important currencies like euro & pound
(18.03.08)
Trend
Gold:
994.50-1008.80;
Resist:
1026.60;
Support:
973.20;
Silver:
19.56-20.48;
Resist;
21.14;
Support:
28.89;
*HI-CHOICE*
this is intraday trend you can find important resist and support here every day before 9.30Am you will get that.
This week
Trend
Gold:Pivot-990.80
973.80-1020.10;
Resist:
1037.10:
Support:
944.50;
Silver:Piv-20.30
19.65-21.36;
Resist;
22.01;
Support:
18.59;
*HI-CHOICE*
this is week trend here also you will get important resist and supports here
you will get every monday this trend
if you want this service in your mobile contact
9364112225
9364151621
MCXARUN
9994500540
Tuesday, March 18, 2008
our trade
Account: 233443 Name: hichoice Currency: USD 2008 March 18, 12:35
Closed Transactions:
Ticket Open Time Type Lots Item Price S / L T / P Close Time Price Commission Taxes Swap Profit
2109507 2008.03.04 10:08 balance Deposit 10 000.00
2147246 2008.03.13 10:08 sell 1.00 ngapr8 10.050 0.000 0.000 2008.03.18 12:34 9.230 0.00 0.00 0.00 4 100.00
2166804 2008.03.18 12:34 buy 0.00 ngapr8 9.230 0.000 0.000 2008.03.18 12:34 9.230 0.00 0.00 0.00 0.00
0.00 0.00 0.00 4 100.00
Closed P/L: 4 100.00Open Trades:
Ticket Open Time Type Lots Item Price S / L T / P Price Commission Taxes Swap Profit
2147245 2008.03.13 10:07 sell 1.00 gold 987.00 0.00 0.00 1005.68 0.00 0.00 0.00 -1 868.00
2147243 2008.03.13 10:07 sell 1.00 simay8 20.400 0.000 0.000 20.281 0.00 0.00 0.00 595.00
0.00 0.00 0.00 -1 273.00
Floating P/L: -1 273.00
Working Orders:
Ticket Open Time Type Lots Item Price S / L T / P Market Price
No transactions
Summary:
Deposit/Withdrawal: 10 000.00 Credit Facility: 0.00
Closed Trade P/L: 4 100.00 Floating P/L: -1 273.00 Margin: 2 000.00
Balance: 14 100.00 Equity: 12 827.00 Free Margin: 10 827.00
4100$ profit in single trade in natural gas
mcxarun
9994500540
Closed Transactions:
Ticket Open Time Type Lots Item Price S / L T / P Close Time Price Commission Taxes Swap Profit
2109507 2008.03.04 10:08 balance Deposit 10 000.00
2147246 2008.03.13 10:08 sell 1.00 ngapr8 10.050 0.000 0.000 2008.03.18 12:34 9.230 0.00 0.00 0.00 4 100.00
2166804 2008.03.18 12:34 buy 0.00 ngapr8 9.230 0.000 0.000 2008.03.18 12:34 9.230 0.00 0.00 0.00 0.00
0.00 0.00 0.00 4 100.00
Closed P/L: 4 100.00Open Trades:
Ticket Open Time Type Lots Item Price S / L T / P Price Commission Taxes Swap Profit
2147245 2008.03.13 10:07 sell 1.00 gold 987.00 0.00 0.00 1005.68 0.00 0.00 0.00 -1 868.00
2147243 2008.03.13 10:07 sell 1.00 simay8 20.400 0.000 0.000 20.281 0.00 0.00 0.00 595.00
0.00 0.00 0.00 -1 273.00
Floating P/L: -1 273.00
Working Orders:
Ticket Open Time Type Lots Item Price S / L T / P Market Price
No transactions
Summary:
Deposit/Withdrawal: 10 000.00 Credit Facility: 0.00
Closed Trade P/L: 4 100.00 Floating P/L: -1 273.00 Margin: 2 000.00
Balance: 14 100.00 Equity: 12 827.00 Free Margin: 10 827.00
4100$ profit in single trade in natural gas
mcxarun
9994500540
Energy intraday
· Oil prices fell sharply Monday, pulling back at least temporarily from record levels as investors feared that the financial crisis that forced the sale of Bear Stearns Cos. is a sign of deep economic troubles.
· Crude's plunge came even as diesel prices rose to a new record above $4 a gallon, and gas prices remained high. Diesel, used to transport the vast majority of the nation's goods, rose 1.3 cents to a national average of $4.002 a gallon Monday, according to AAA and the Oil Price Information Service.
· The national average price of a gallon of gas, meanwhile, dipped slightly to $3.283 a gallon, but remains 73 cents higher than a year ago.
· Crude futures offer a hedge against a falling dollar, and oil futures bought and sold in dollars are more attractive to foreign investors when the dollar is weak. Interest rate cuts, and even the prospect of future cuts, tend to weaken the dollar further.
· But the mass selling Monday -- despite the Fed's Sunday rate cut, the prospect of another cut at the Fed's regular Tuesday meeting, and the fact that the dollar dropped to new lows against the euro on Monday -- could be a sign that the oil market's momentum has turned negative, analysts say.
· But it remains unclear whether Monday's price plunge marks the beginning of a longer decline, or a brief profit-taking retrenchment. If prices do fall, gas and diesel prices could follow.
· The drilling frenzy in North Dakota's oil patch has now reached beneath the state's biggest lake. Oil companies have begun tapping crude oil and gas underneath Lake Sakakawea, using advanced horizontal drill techniques. Lynn Helms, the director of the state Department of Mineral Resources, said it was a logical extension to the formation known as the Middle Bakken, which lies two miles under the surface in western North Dakota and holds millions of barrels of oil.
· Merrill Lynch upgraded the shares of a number of natural-gas service companies, citing expectations of higher nat-gas prices and an expansion of gas drilling activity by the second-half of the year.
· BP PLC said it has signed memorandum of understanding (MoU) with the regional refiner Irving Oil to work together on the next phase for the proposed Eider Rock Refinery project in eastern Canada.
· BP said it will contribute 40 mln usd to the project in St. John, New Brunswick and the two companies will investigate the possibility of forming a joint venture to build the refinery should they decide to proceed.
MCX Crude Oil April (Daily Chart)
Technical Outlook:
Momentum studies are bearish but are now at oversold levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over down which is a bearish indication. The stochastics indicators are decreasing from overbought level, which is bearish and should support lower prices. The market's short-term trend is negative as the close remains below the 9-day EMA. The upside closing price reversal on the daily chart is somewhat positive.
Recommendations:
MCX Crude Oil April: Buy above 4235 Target 4290 and 4315 Stop loss 4185
MCX Natural gas April (Daily Chart)
Technical Outlook:
Momentum studies are bearish but are now at oversold levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over down which is a bearish indication. The stochastics indicators are decreasing from overbought level, which is bearish and should support lower prices. The market's short-term trend is negative as the close remains below the 9-day EMA. The upside closing price reversal on the daily chart is somewhat positive.
Recommendations:
MCX Natural Gas April: Buy above 393 Target 399 and 405 Stop loss 386.50
MCXARUN
· Crude's plunge came even as diesel prices rose to a new record above $4 a gallon, and gas prices remained high. Diesel, used to transport the vast majority of the nation's goods, rose 1.3 cents to a national average of $4.002 a gallon Monday, according to AAA and the Oil Price Information Service.
· The national average price of a gallon of gas, meanwhile, dipped slightly to $3.283 a gallon, but remains 73 cents higher than a year ago.
· Crude futures offer a hedge against a falling dollar, and oil futures bought and sold in dollars are more attractive to foreign investors when the dollar is weak. Interest rate cuts, and even the prospect of future cuts, tend to weaken the dollar further.
· But the mass selling Monday -- despite the Fed's Sunday rate cut, the prospect of another cut at the Fed's regular Tuesday meeting, and the fact that the dollar dropped to new lows against the euro on Monday -- could be a sign that the oil market's momentum has turned negative, analysts say.
· But it remains unclear whether Monday's price plunge marks the beginning of a longer decline, or a brief profit-taking retrenchment. If prices do fall, gas and diesel prices could follow.
· The drilling frenzy in North Dakota's oil patch has now reached beneath the state's biggest lake. Oil companies have begun tapping crude oil and gas underneath Lake Sakakawea, using advanced horizontal drill techniques. Lynn Helms, the director of the state Department of Mineral Resources, said it was a logical extension to the formation known as the Middle Bakken, which lies two miles under the surface in western North Dakota and holds millions of barrels of oil.
· Merrill Lynch upgraded the shares of a number of natural-gas service companies, citing expectations of higher nat-gas prices and an expansion of gas drilling activity by the second-half of the year.
· BP PLC said it has signed memorandum of understanding (MoU) with the regional refiner Irving Oil to work together on the next phase for the proposed Eider Rock Refinery project in eastern Canada.
· BP said it will contribute 40 mln usd to the project in St. John, New Brunswick and the two companies will investigate the possibility of forming a joint venture to build the refinery should they decide to proceed.
MCX Crude Oil April (Daily Chart)
Technical Outlook:
Momentum studies are bearish but are now at oversold levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over down which is a bearish indication. The stochastics indicators are decreasing from overbought level, which is bearish and should support lower prices. The market's short-term trend is negative as the close remains below the 9-day EMA. The upside closing price reversal on the daily chart is somewhat positive.
Recommendations:
MCX Crude Oil April: Buy above 4235 Target 4290 and 4315 Stop loss 4185
MCX Natural gas April (Daily Chart)
Technical Outlook:
Momentum studies are bearish but are now at oversold levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over down which is a bearish indication. The stochastics indicators are decreasing from overbought level, which is bearish and should support lower prices. The market's short-term trend is negative as the close remains below the 9-day EMA. The upside closing price reversal on the daily chart is somewhat positive.
Recommendations:
MCX Natural Gas April: Buy above 393 Target 399 and 405 Stop loss 386.50
MCXARUN
Basemetals intraday
· The UBS Bloomberg Constant Maturity Commodity Index fell 2.7 percent to 1,486.817 as of 2:30 p.m. in London, the biggest drop since Aug. 16. Coffee and sugar dropped more than 7 percent, the
most of any commodity futures. Before today, commodities had gained 20 percent this year.
· The New York Federal Reserve's manufacturing index fell from -11.7 to -22.2 in March, a new record low and a sign of further contraction.
LME Inventory update (17 March, 2008)
alumi 12950
coppe 275
nickel -174
lead 200
zinc -950
Major Headline:
· China, the world's largest consumer of aluminum, didn't increase imports or cut exports after snowstorms and rising power costs reduce production in the first two months of the year, Macquarie Group Ltd. said. China remained a net exporter of aluminum and alloys in January-February, the Australian bank's analysts said, citing provisional trade figures.
· Global supply and demand will be about equal this year, compared with a
glut of as much as 700,000 metric tons expected, Rio Tinto Group said March 13.
· China's imports of aluminum and alloys were 22,146 tons in February whereas exports were 39,678 tons, customs data showed. Production in China fell in the period after snowstorms damaged power grids and forced smelters to shut down.
· Copper fell to almost a one-month low in London, and aluminum and zinc also declined, on speculation that a two-month rally left metals prices no longer reflecting the outlook for supply and demand.
· Chile, the world's biggest copper producer, said the value of its exports of the metal jumped 33
percent in February. Exports rose to $3.01 billion from $2.26 billion a year earlier, the Chilean central bank said on its Web site today. Chile's government will report February production figures on March 31.
· The London Metal Exchange index tracking six industrial metals rose 26 percent in January and February and copper reached a record March 6. Refined copper and alloy imports by China, the world's largest user of the metal, fell 1.7 percent in the first two months, the Beijing-based customs office said today.
· Copper, which tracks global industrial production, has risen 23 percent this year as China's economy expands, stoking speculation that prices will rise for a seventh year. Hedge, index and pension funds increased investments in commodities including metals to hedge against a weaker dollar and inflation and to diversify as stock markets declined.
· Copper stockpiles on the LME rose for the first time since Feb. 25, expanding 275 tons, or 0.2 percent, to 125,500 tons.
· Including those monitored by the Shanghai Futures Exchange and the Comex division of the New York Mercantile Exchange, inventories totalled 198,139 tons, or 3.9 days of global
consumption. The average was 4.9 days last year.
· Zinc consumption lagged behind output in January, leaving a surplus as production from mines and smelters rose, the International Lead and Zinc Study Group said.
· Global consumption of zinc, used to galvanize steel, was 978,000 metric tons in the first month of the year, the Lisbon- based group said today on its Web site. Production of refined
metal was 1.005 million tons in the period, creating an oversupply of 27,000 tons, according to the organization.
· Zinc output from mines soared 15 percent in January. China, the world's largest miner, produced 317,000 tons for an increase of 28 percent. Colombia, where the San Cristobal lead and zinc mine started production last year, dug out 32,000 tons, compared with 14,000 tons in the corresponding period last year. Output from smelters advanced 5.7 percent from a year earlier.
· Zinc has gained 6.3 percent this year, the least among all metals traded on the London Metal Exchange, as supply growth limited gains. Stockpiles of the metal monitored by the exchange
have risen 39 percent this year.
MCX Copper April (Daily Chart)
Technical Outlook:
Momentum studies are bearish but are now at oversold levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over down which is a bearish indication. The stochastics indicators are decreasing from overbought level, which is bearish and should support lower prices. The market's short-term trend is negative as the close remains below the 9-day EMA. The upside closing price reversal on the daily chart is somewhat positive.
Recommendations:MCX Copper April: Sell at 334 Target 328 and 324 Stop loss 338.50
MCX Zinc March (Daily Chart)
Technical Outlook:
Momentum studies are bearish but are now at oversold levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over down which is a bearish indication. The stochastics indicators are decreasing from overbought level, which is bearish and should support lower prices. The market's short-term trend is negative as the close remains below the 9-day EMA. The upside closing price reversal on the daily chart is somewhat positive.
Recommendations:MCX Zinc March: Sell at 103 Target 98.60 and 96 Stop loss at 104.20
MCX Nickel March (Daily Chart)
Technical Outlook:
Momentum studies are bearish but are now at oversold levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over down which is a bearish indication. The stochastics indicators are decreasing from overbought level, which is bearish and should support lower prices. The market's short-term trend is negative as the close remains below the 9-day EMA. The upside closing price reversal on the daily chart is somewhat positive.
Recommendations:MCX Nickel March: Sell at 1245 Target 1220 and 1205 Stop loss at 1267
MCX Lead Feb (Daily Chart)
Technical Outlook:
Momentum studies are bearish but are now at oversold levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over down which is a bearish indication. The stochastics indicators are decreasing from overbought level, which is bearish and should support lower prices. The market's short-term trend is negative as the close remains below the 9-day EMA. The upside closing price reversal on the daily chart is somewhat positive.
Recommendations:MCX Lead March: Sell at 119 Target 116 and 114 Stop loss 120.20
MCXARUN
9994500540
most of any commodity futures. Before today, commodities had gained 20 percent this year.
· The New York Federal Reserve's manufacturing index fell from -11.7 to -22.2 in March, a new record low and a sign of further contraction.
LME Inventory update (17 March, 2008)
alumi 12950
coppe 275
nickel -174
lead 200
zinc -950
Major Headline:
· China, the world's largest consumer of aluminum, didn't increase imports or cut exports after snowstorms and rising power costs reduce production in the first two months of the year, Macquarie Group Ltd. said. China remained a net exporter of aluminum and alloys in January-February, the Australian bank's analysts said, citing provisional trade figures.
· Global supply and demand will be about equal this year, compared with a
glut of as much as 700,000 metric tons expected, Rio Tinto Group said March 13.
· China's imports of aluminum and alloys were 22,146 tons in February whereas exports were 39,678 tons, customs data showed. Production in China fell in the period after snowstorms damaged power grids and forced smelters to shut down.
· Copper fell to almost a one-month low in London, and aluminum and zinc also declined, on speculation that a two-month rally left metals prices no longer reflecting the outlook for supply and demand.
· Chile, the world's biggest copper producer, said the value of its exports of the metal jumped 33
percent in February. Exports rose to $3.01 billion from $2.26 billion a year earlier, the Chilean central bank said on its Web site today. Chile's government will report February production figures on March 31.
· The London Metal Exchange index tracking six industrial metals rose 26 percent in January and February and copper reached a record March 6. Refined copper and alloy imports by China, the world's largest user of the metal, fell 1.7 percent in the first two months, the Beijing-based customs office said today.
· Copper, which tracks global industrial production, has risen 23 percent this year as China's economy expands, stoking speculation that prices will rise for a seventh year. Hedge, index and pension funds increased investments in commodities including metals to hedge against a weaker dollar and inflation and to diversify as stock markets declined.
· Copper stockpiles on the LME rose for the first time since Feb. 25, expanding 275 tons, or 0.2 percent, to 125,500 tons.
· Including those monitored by the Shanghai Futures Exchange and the Comex division of the New York Mercantile Exchange, inventories totalled 198,139 tons, or 3.9 days of global
consumption. The average was 4.9 days last year.
· Zinc consumption lagged behind output in January, leaving a surplus as production from mines and smelters rose, the International Lead and Zinc Study Group said.
· Global consumption of zinc, used to galvanize steel, was 978,000 metric tons in the first month of the year, the Lisbon- based group said today on its Web site. Production of refined
metal was 1.005 million tons in the period, creating an oversupply of 27,000 tons, according to the organization.
· Zinc output from mines soared 15 percent in January. China, the world's largest miner, produced 317,000 tons for an increase of 28 percent. Colombia, where the San Cristobal lead and zinc mine started production last year, dug out 32,000 tons, compared with 14,000 tons in the corresponding period last year. Output from smelters advanced 5.7 percent from a year earlier.
· Zinc has gained 6.3 percent this year, the least among all metals traded on the London Metal Exchange, as supply growth limited gains. Stockpiles of the metal monitored by the exchange
have risen 39 percent this year.
MCX Copper April (Daily Chart)
Technical Outlook:
Momentum studies are bearish but are now at oversold levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over down which is a bearish indication. The stochastics indicators are decreasing from overbought level, which is bearish and should support lower prices. The market's short-term trend is negative as the close remains below the 9-day EMA. The upside closing price reversal on the daily chart is somewhat positive.
Recommendations:MCX Copper April: Sell at 334 Target 328 and 324 Stop loss 338.50
MCX Zinc March (Daily Chart)
Technical Outlook:
Momentum studies are bearish but are now at oversold levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over down which is a bearish indication. The stochastics indicators are decreasing from overbought level, which is bearish and should support lower prices. The market's short-term trend is negative as the close remains below the 9-day EMA. The upside closing price reversal on the daily chart is somewhat positive.
Recommendations:MCX Zinc March: Sell at 103 Target 98.60 and 96 Stop loss at 104.20
MCX Nickel March (Daily Chart)
Technical Outlook:
Momentum studies are bearish but are now at oversold levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over down which is a bearish indication. The stochastics indicators are decreasing from overbought level, which is bearish and should support lower prices. The market's short-term trend is negative as the close remains below the 9-day EMA. The upside closing price reversal on the daily chart is somewhat positive.
Recommendations:MCX Nickel March: Sell at 1245 Target 1220 and 1205 Stop loss at 1267
MCX Lead Feb (Daily Chart)
Technical Outlook:
Momentum studies are bearish but are now at oversold levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over down which is a bearish indication. The stochastics indicators are decreasing from overbought level, which is bearish and should support lower prices. The market's short-term trend is negative as the close remains below the 9-day EMA. The upside closing price reversal on the daily chart is somewhat positive.
Recommendations:MCX Lead March: Sell at 119 Target 116 and 114 Stop loss 120.20
MCXARUN
9994500540
Bullion intraday
· Gold surged to a record $1,033.90 an ounce inNew York as credit-market losses and a weak dollar drove investors into the safety of the precious metal.
· The Federal Reserve cut the interest rate on direct loans to banks in an emergency meeting and stocks plunged worldwide after Bear Stearns Cos. accepted a buyout from JPMorgan Chase & Co. to avoid collapse. The dollar fell to $1.5903 against the euro, the lowest ever. Gold has jumped 21 percent this year as the Standard & Poor's 500 Index has fallen 13 percent.
· The Fed first reduced the so-called discount rate seven months ago from 6.25 percent as losses in the credit market mounted. After today's cut, the rate stands at 3.25 percent.
· Investment in the StreetTracks Gold Trust, the biggest exchange-traded fund backed by bullion, was at 653 metric tons as of March 14. It reached a record 655 metric tons on March 10.
· Policy makers also have reduced the federal-funds rate five times since Sept. 18 from 5.25 percent to 3 percent. Interest- rate futures show an 86 percent chance the Fed will reduce the benchmark overnight lending rate to 2 percent tomorrow, compared with a 14 percent chance a week ago. The dollar has fallen 11 percent against the euro since mid-September while gold has rallied 40 percent. Banks have posted more than $181 billion in writedowns and losses related to the subprime-mortgage crisis.
US Economy:
· Over the weekend, the Federal Reserve reduced the discount rate from 3.50% to 3.25%, but made no change to the federal funds rate. They also created at new lending facility to provide short-term liquidity to investment banks. The White House scheduled a meeting today to discuss the financial markets and the Federal Reserve's Open Market Committee meets tomorrow. The December eurodollars are trading higher.
· Bear Stearns shares closed at $30 after Friday's big drop, but over the weekend, JPMorgan bought the entire company for $2 per share with the approval of the U.S. government. Bear Stearns shareholders, understandably may not like the deal, but probably have no realistic alternative. That transaction will be debated for a long time. The June S&P 500 is steady to lower.
· The Federal Reserve said that industrial production was down .5% in February, weaker than expected and the biggest monthly drop since October.
· The New York Federal Reserve's manufacturing index fell from -11.7 to -22.2 in March, a new record low and a sign of further contraction.
Currency Update:
· StatisticsCanada said that factory sales were up 1.3% in January, helped by a 4.5% gain in auto sales.
· The June Japanese yen is trading sharply higher, benefitting from U.S. dollar woes andJapan's light exposure to the subprime mortgage mess.
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: Buy above 13165 Target 13230 and 13260 Stop loss at 13115
MCX Silver May (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 May: Buy above 26300 Target 26650 and 26850 Stop loss 26115
MCXARUN
9994500540
· The Federal Reserve cut the interest rate on direct loans to banks in an emergency meeting and stocks plunged worldwide after Bear Stearns Cos. accepted a buyout from JPMorgan Chase & Co. to avoid collapse. The dollar fell to $1.5903 against the euro, the lowest ever. Gold has jumped 21 percent this year as the Standard & Poor's 500 Index has fallen 13 percent.
· The Fed first reduced the so-called discount rate seven months ago from 6.25 percent as losses in the credit market mounted. After today's cut, the rate stands at 3.25 percent.
· Investment in the StreetTracks Gold Trust, the biggest exchange-traded fund backed by bullion, was at 653 metric tons as of March 14. It reached a record 655 metric tons on March 10.
· Policy makers also have reduced the federal-funds rate five times since Sept. 18 from 5.25 percent to 3 percent. Interest- rate futures show an 86 percent chance the Fed will reduce the benchmark overnight lending rate to 2 percent tomorrow, compared with a 14 percent chance a week ago. The dollar has fallen 11 percent against the euro since mid-September while gold has rallied 40 percent. Banks have posted more than $181 billion in writedowns and losses related to the subprime-mortgage crisis.
US Economy:
· Over the weekend, the Federal Reserve reduced the discount rate from 3.50% to 3.25%, but made no change to the federal funds rate. They also created at new lending facility to provide short-term liquidity to investment banks. The White House scheduled a meeting today to discuss the financial markets and the Federal Reserve's Open Market Committee meets tomorrow. The December eurodollars are trading higher.
· Bear Stearns shares closed at $30 after Friday's big drop, but over the weekend, JPMorgan bought the entire company for $2 per share with the approval of the U.S. government. Bear Stearns shareholders, understandably may not like the deal, but probably have no realistic alternative. That transaction will be debated for a long time. The June S&P 500 is steady to lower.
· The Federal Reserve said that industrial production was down .5% in February, weaker than expected and the biggest monthly drop since October.
· The New York Federal Reserve's manufacturing index fell from -11.7 to -22.2 in March, a new record low and a sign of further contraction.
Currency Update:
· StatisticsCanada said that factory sales were up 1.3% in January, helped by a 4.5% gain in auto sales.
· The June Japanese yen is trading sharply higher, benefitting from U.S. dollar woes andJapan's light exposure to the subprime mortgage mess.
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: Buy above 13165 Target 13230 and 13260 Stop loss at 13115
MCX Silver May (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 May: Buy above 26300 Target 26650 and 26850 Stop loss 26115
MCXARUN
9994500540
Safe trade
GOLD
book profit on buy abv 12810-15/835/ 875/12960/13050, for the day sell ard 13275-80 S/L 13290 and T/p 13200/ 13150 OR buy ard 12860-65 S/L 12850 and T/p 12900-920/upto 13000, sustain below 12850 more down side in coming days (any time close above 13400 bullish while close below 12850/12515/ 12375/12150/11875/11575-475/11300/ 10950-900/10500/10050/9850/9575 bearish for medium term)
SILVER
book profit on buy abv 26050/26700/ 26850, for the day sell only below 25850 S/L 25925 and T/p 25775-700/25575 upto 25375 where might find support OR sell ard 26750-775 S/L 26800 and T/p 26600-525/upto 26300, sustain abv 26800 uprally again (any time close below 25875/25150-24850/23090/21990/ 21250/20150/19390/18600-250/17850 bearish rally while close above 27500 bullish for medium term)
CRUDE
book profit on buy abv 4340/4360/4410 and sell below 4330, for the day sell below 4140 S/L 4165 and T/p 4100-4075 OR sell ard 4335-40 S/L 4350 and T/p 4310-4270/4250 (now crude need to close above 4460-85 for bullish rally while close below 4140/4070/3960/ 3830/3585/3415-3390 bearish for medium term)
COPPER
we book profit on buy & sell last, for the day buy only abv 337 S/L 335.5 and T/p 339.5-340/342/344.5/346/348/ sustain abv 348 & 354 uprally test 362-67 atleast upto 370 in coming days OR sell below 328.5 S/L 330 and T/p 327 upto 324.5/322.5/more down rally (upside strong rally only on close above 354 while close below 332/321/311-303/ 281/267.5/254.5/235 bearish for medium term)
MCXARUN
9994500540
book profit on buy abv 12810-15/835/ 875/12960/13050, for the day sell ard 13275-80 S/L 13290 and T/p 13200/ 13150 OR buy ard 12860-65 S/L 12850 and T/p 12900-920/upto 13000, sustain below 12850 more down side in coming days (any time close above 13400 bullish while close below 12850/12515/ 12375/12150/11875/11575-475/11300/ 10950-900/10500/10050/9850/9575 bearish for medium term)
SILVER
book profit on buy abv 26050/26700/ 26850, for the day sell only below 25850 S/L 25925 and T/p 25775-700/25575 upto 25375 where might find support OR sell ard 26750-775 S/L 26800 and T/p 26600-525/upto 26300, sustain abv 26800 uprally again (any time close below 25875/25150-24850/23090/21990/ 21250/20150/19390/18600-250/17850 bearish rally while close above 27500 bullish for medium term)
CRUDE
book profit on buy abv 4340/4360/4410 and sell below 4330, for the day sell below 4140 S/L 4165 and T/p 4100-4075 OR sell ard 4335-40 S/L 4350 and T/p 4310-4270/4250 (now crude need to close above 4460-85 for bullish rally while close below 4140/4070/3960/ 3830/3585/3415-3390 bearish for medium term)
COPPER
we book profit on buy & sell last, for the day buy only abv 337 S/L 335.5 and T/p 339.5-340/342/344.5/346/348/ sustain abv 348 & 354 uprally test 362-67 atleast upto 370 in coming days OR sell below 328.5 S/L 330 and T/p 327 upto 324.5/322.5/more down rally (upside strong rally only on close above 354 while close below 332/321/311-303/ 281/267.5/254.5/235 bearish for medium term)
MCXARUN
9994500540
LONG VIEW
SPOT GOLD INTERNATIONAL
LIKELY TO TEST $ 1035-1045.... UNLESS CLOSE BELOW $ 990 IN COMING DAYS .... BUY AT EVERY DEEP WITH S/L $ 990
SPOT SILVER INTERNATIONAL
LIKELY TO TEST $ 21.50-21.75/$ 22 upto $ 22.20 WITH ANY SUSTAIN CLOSE ABV $21.25... WHILE UNLESS CLOSE BELOW $ 20.20 UPTREND CONTINUE.... BUY AT EVERY DEEP WITH STRICT S/L $ 20.20
ALUMINUM
LIKELY TO TEST 134-35 WITH ANY BREAK & CLOSE ABOVE 127.25 & 130.25, WHILE CLOSE BELOW 120 TEST 117-15 ATLEAST(MAR)
COPPER
LIKELY TO TEST 359-60 UPTO 365 WITH ANY BREAK & CLOSE ABOVE 354, ONLY CLOSE BELOW 332 TEST 325 ATLEAST IN COMING DAYS
NICKEL
LIKELY TO TEST 1460-90 ATLEAST WITH ANY BREAK & CLOSE ABOVE 1380 & 1415, ONLY CLOSE BELOW 1235 TEST 1190-1200 ATLEAST
LEAD
LIKELY TO TEST 144-146 WITH ANY BREAK & CLOSE ABOVE 141, WHILE CLOSE BELOW 119.5 TEST 114-15 ATLEAST(MAR)
MCXARUN
9994500540
LIKELY TO TEST $ 1035-1045.... UNLESS CLOSE BELOW $ 990 IN COMING DAYS .... BUY AT EVERY DEEP WITH S/L $ 990
SPOT SILVER INTERNATIONAL
LIKELY TO TEST $ 21.50-21.75/$ 22 upto $ 22.20 WITH ANY SUSTAIN CLOSE ABV $21.25... WHILE UNLESS CLOSE BELOW $ 20.20 UPTREND CONTINUE.... BUY AT EVERY DEEP WITH STRICT S/L $ 20.20
ALUMINUM
LIKELY TO TEST 134-35 WITH ANY BREAK & CLOSE ABOVE 127.25 & 130.25, WHILE CLOSE BELOW 120 TEST 117-15 ATLEAST(MAR)
COPPER
LIKELY TO TEST 359-60 UPTO 365 WITH ANY BREAK & CLOSE ABOVE 354, ONLY CLOSE BELOW 332 TEST 325 ATLEAST IN COMING DAYS
NICKEL
LIKELY TO TEST 1460-90 ATLEAST WITH ANY BREAK & CLOSE ABOVE 1380 & 1415, ONLY CLOSE BELOW 1235 TEST 1190-1200 ATLEAST
LEAD
LIKELY TO TEST 144-146 WITH ANY BREAK & CLOSE ABOVE 141, WHILE CLOSE BELOW 119.5 TEST 114-15 ATLEAST(MAR)
MCXARUN
9994500540
Technicals – MCX (Intra day calls)
CRUDE OIL (April) BULLISH ABOVE 4243BEARISH BELOW 4227
GOLD (April) BULLISH ABOVE 13160 BEARISH BELOW 13120
SILVER (May) BULLISH ABOVE 26400 BEARISH BELOW 26305
COPPER (APRIL) BULLISH ABOVE 335 BEARISH BELOW 334
LEAD (MARCH) BULLISH ABOVE 118.50 BEARISH BELOW 117.30
NICKEL (MARCH) BULLISH ABOVE 1256 BEARISH BELOW 1249
ZINC (MARH) BULLISH ABOVE 102.30 BEARISH BELOW 101.90
MCXARUN
9994500540
GOLD (April) BULLISH ABOVE 13160 BEARISH BELOW 13120
SILVER (May) BULLISH ABOVE 26400 BEARISH BELOW 26305
COPPER (APRIL) BULLISH ABOVE 335 BEARISH BELOW 334
LEAD (MARCH) BULLISH ABOVE 118.50 BEARISH BELOW 117.30
NICKEL (MARCH) BULLISH ABOVE 1256 BEARISH BELOW 1249
ZINC (MARH) BULLISH ABOVE 102.30 BEARISH BELOW 101.90
MCXARUN
9994500540
market outlook
April gold closed higher on Monday and above psychological resistance crossing at 1004.80 due to rising financial concerns and
the falling U.S. Dollar. Profit taking tempered early gains and the low-range close sets the stage for a steady to lower opening
on Tuesday. Stochastics and the RSI have overbought, diverging and are turning neutral hinting that a short-term top might be
in or is near. If April extends this winter's rally into uncharted territory, upside targets will be hard to project. Closes below the
20-day moving average crossing at 968.70 would confirm that a short-term top has been posted. First resistance is today's high
crossing at 1033.90. First support is the 10-day moving average crossing at 983.20. Second support is the 20-day moving
average crossing at 968.70.
May silver closed lower on Monday and below the 10-day moving average crossing at 20.189 hinting that a double top with the
March 6th high might have been posted today. The low-range close sets the stage for a steady to lower opening on Tuesday.
Stochastics and the RSI are bullish but diverging hinting that a short-term top might be in or is near. If May extends this
winter's rally, monthly resistance crossing at 22.51 is the next upside target. Closes below the 20-day moving average crossing
at 19.487 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 21.440 then
monthly resistance crossing at 22.51. First support is today's low crossing at 19.800 then the 20-day moving average crossing
at 19.488.
May copper closed sharply lower on Monday and below the 20-day moving average crossing at 382.64 confirming that a short-
term top has been posted. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI
remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends this week's decline, the
38% retracement level of the December-March rally crossing at 358.50 is the next downside target. First resistance is last
Friday's high crossing at 390.00. Second resistance is March's high crossing at 402.40. First support is today's low crossing at
365.40. Second support is the 38% retracement level crossing at 358.50.
April crude oil closed sharply lower on Monday and below the 10-day moving average crossing at 106-72 signaling that a short-
term top appears to have been posted. Today's sell off was triggered by rising concerns over both the U.S. and world
economies, which could lead to lower energy demand. The low-range close sets the stage for a steady to lower opening on
Tuesday. Stochastics and the RSI are overbought and are turning bearish signaling that sideways to lower prices are possible
near-term. Closes below the 20-day moving average crossing at 103.49 are needed to confirm that a short-term top has been
posted. If April extends this winter's rally, upside targets will be hard to project now that April has traded into uncharted
territory. Although, this winter's trading range projects a possible rally to the 113.20 area. First resistance is today's high
crossing at 111.80. First support is the 20-day moving average crossing at 103.48. Second support is the reaction low crossing
at 98.87.
April Henry natural gas closed sharply lower on Monday confirming last Friday's key reversal down and closed below the 20-
day moving average crossing at 9.075 confirming that a short-term top has been posted. The low-range close sets the stage for a
steady to lower opening on Tuesday. Stochastics and the RSI turned bearish with today's sharp decline signaling that sideways
to lower prices are possible near-term. If April extends this week's decline, the 50% retracement level of this year's rally
crossing at 8.662 is the next downside target. First resistance is the 20-day moving average crossing at 9.477 then the 10-day
moving average crossing at 9.782. First support is today's low crossing at 9.064. Second support is the 50% retracement level
of this year's rally crossing at 8.662.
MCXARUN
9994500540
the falling U.S. Dollar. Profit taking tempered early gains and the low-range close sets the stage for a steady to lower opening
on Tuesday. Stochastics and the RSI have overbought, diverging and are turning neutral hinting that a short-term top might be
in or is near. If April extends this winter's rally into uncharted territory, upside targets will be hard to project. Closes below the
20-day moving average crossing at 968.70 would confirm that a short-term top has been posted. First resistance is today's high
crossing at 1033.90. First support is the 10-day moving average crossing at 983.20. Second support is the 20-day moving
average crossing at 968.70.
May silver closed lower on Monday and below the 10-day moving average crossing at 20.189 hinting that a double top with the
March 6th high might have been posted today. The low-range close sets the stage for a steady to lower opening on Tuesday.
Stochastics and the RSI are bullish but diverging hinting that a short-term top might be in or is near. If May extends this
winter's rally, monthly resistance crossing at 22.51 is the next upside target. Closes below the 20-day moving average crossing
at 19.487 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 21.440 then
monthly resistance crossing at 22.51. First support is today's low crossing at 19.800 then the 20-day moving average crossing
at 19.488.
May copper closed sharply lower on Monday and below the 20-day moving average crossing at 382.64 confirming that a short-
term top has been posted. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI
remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends this week's decline, the
38% retracement level of the December-March rally crossing at 358.50 is the next downside target. First resistance is last
Friday's high crossing at 390.00. Second resistance is March's high crossing at 402.40. First support is today's low crossing at
365.40. Second support is the 38% retracement level crossing at 358.50.
April crude oil closed sharply lower on Monday and below the 10-day moving average crossing at 106-72 signaling that a short-
term top appears to have been posted. Today's sell off was triggered by rising concerns over both the U.S. and world
economies, which could lead to lower energy demand. The low-range close sets the stage for a steady to lower opening on
Tuesday. Stochastics and the RSI are overbought and are turning bearish signaling that sideways to lower prices are possible
near-term. Closes below the 20-day moving average crossing at 103.49 are needed to confirm that a short-term top has been
posted. If April extends this winter's rally, upside targets will be hard to project now that April has traded into uncharted
territory. Although, this winter's trading range projects a possible rally to the 113.20 area. First resistance is today's high
crossing at 111.80. First support is the 20-day moving average crossing at 103.48. Second support is the reaction low crossing
at 98.87.
April Henry natural gas closed sharply lower on Monday confirming last Friday's key reversal down and closed below the 20-
day moving average crossing at 9.075 confirming that a short-term top has been posted. The low-range close sets the stage for a
steady to lower opening on Tuesday. Stochastics and the RSI turned bearish with today's sharp decline signaling that sideways
to lower prices are possible near-term. If April extends this week's decline, the 50% retracement level of this year's rally
crossing at 8.662 is the next downside target. First resistance is the 20-day moving average crossing at 9.477 then the 10-day
moving average crossing at 9.782. First support is today's low crossing at 9.064. Second support is the 50% retracement level
of this year's rally crossing at 8.662.
MCXARUN
9994500540
GENERAL MARKET CONDITIONS
The focus of the markets suddenly shifts from demand factors to supply factors and a subsequent correction in base metals and energies. Gold and silver fell on profit taking ahead of the Fed meeting. How come suddenly the focus shifts from demand factors as investors know that higher crude oil prices will in the medium term cause a slowdown in demand and that India, China and other emerging nations alone cannot cause a supply squeeze. It’s all about investment alternatives and base metals and energies attract investment interest only when there is no other place to invest. Base metals and energies will continue to be volatile for the rest of the March.
The Fed has been aggressively cutting interest rates over the past four months and the US dollar has declined substantially between two Fed meetings. Expectations for today’s interest rate cut vary from 0.50% to 1.00%. The Fed may cut one more time in April and thereafter pause. The US dollar will trade with a softer bias for another month or two (unless there are more Bear Sterns and Northern Rocks) and thereafter slowly and steadily start to gain. Precious metals have gained after the Fed meetings and it remains to be seen whether this time they will rise.
COPPER -- MAY FUTURE -- INTRA DAY PIVOT: $365.70
Copper has to hold $365.70 on closing basis, or else a fall to $357 and below. Resistance at $380.10 and $387.40.
NYMEX CRUDE OIL -- FUTURE -- INTRA DAY PIVOT: $103.80
$106 price target achieved. For the day crude oil is bullish over $103.80. Falls below $103.80 then $100.38 and $96.50.
MCXARUN
9994500540
The Fed has been aggressively cutting interest rates over the past four months and the US dollar has declined substantially between two Fed meetings. Expectations for today’s interest rate cut vary from 0.50% to 1.00%. The Fed may cut one more time in April and thereafter pause. The US dollar will trade with a softer bias for another month or two (unless there are more Bear Sterns and Northern Rocks) and thereafter slowly and steadily start to gain. Precious metals have gained after the Fed meetings and it remains to be seen whether this time they will rise.
COPPER -- MAY FUTURE -- INTRA DAY PIVOT: $365.70
Copper has to hold $365.70 on closing basis, or else a fall to $357 and below. Resistance at $380.10 and $387.40.
NYMEX CRUDE OIL -- FUTURE -- INTRA DAY PIVOT: $103.80
$106 price target achieved. For the day crude oil is bullish over $103.80. Falls below $103.80 then $100.38 and $96.50.
MCXARUN
9994500540
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