Last Friday we had mentioned that traders will either square off or go long in precious metals and energies, we were right. Volumes this week will fall and trading will be volatile. Window dressing by fund managers along with position building for the first quarter of 2008, particularly in the options markets will dictate the markets. There is nothing new to comment and it will be technical trade for the rest of the week.
Crude oil floating over $90 a barrel as the year comes to a close. Crude oil has given the best return in 2007, which will draw more and more investor going long in crude oil. I am skeptical about rise in crude oil prices after August 2008. The reason, 2008 is US elections year and higher energy prices will become a political issue which could result in speculators cutting some of the longs in crude oil ahead of the US elections. Unless there are major hurricanes in the Gulf of Mexico in 2008, we remain bearish on crude oil before US presidential elections. I did rather take a chance and buy some puts between July and November 2008.
Emerging market stocks like India had a great and memorable 2007. This will continue into 2008. However it will not be a one way traffic like 2007. There will be some fluctuations. India stock markets and India companies will benefit from interest rates cuts from other central banks as cost of funds decline. However the sectors which performed in 2007 may be the laggards in 2008. We prefer to buy interest rate sensitive sectors like Automobiles and others (apart from infrastructure) for 2008 as lower global interest rates and lower commodity prices will benefit them. Apart from interest rate sensitive stocks, agro - commodity stocks (apart from sugar) is also a good long term investment as higher prices are here to stay.
GOLD -- FEBRURAY FUTURE -- INTRA DAY PIVOT:$723
Gold has to break $825 for gains to $848, else it will fall to $808 and $798 once again.
NYMEX CRUDE OIL -- FUTURE -- INTRA DAY PIVOT: $92.10
Crude oil needs to break $95 else it will fall to $90.50 and $88.90 once again. As long as crude oil floats over $90.50 downside will be limited.
Wednesday, December 26, 2007
Monday, December 24, 2007
Base Metals
Base metals finished up on MCX on short covering ahead of the long weekend holiday on the benchmark LME.Copper most active February finished at Rs.272.30/kg, rising by Rs.1/kg. It tossed in the range Rs.271.75-273/kg.
Meanwhile both copper and zinc futures on SHFE hit their daily limit up for the second consecutive time on Friday despite the sixth interest rate hike of 7.47% by China.
LME will be closed on 24th, 25th and 26th December for Christmas.
Global copper use rose 7.1 percent in the nine months ended Sept. 30, boosted by Chinese demand, the International Copper Study Group said.
MCX Copper Feb (Daily Chart)
Technical Outlook:
Momentum studies have turned bullish; will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are increasing from over sold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 18-day EMA. The downside closing price reversal on the daily chart is somewhat positive.
Recommendations:
MCX Copper Feb: Buy at 268-270 for the target of 276 and 280 with stop loss at 265.50
MCX Zinc Dec (Daily Chart)
Technical Outlook:
Momentum studies have turned bullish; will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are increasing from over sold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 18-day EMA. The downside closing price reversal on the daily chart is somewhat positive.
Recommendations:
MCX Zinc Dec: Buy at 94.50-94.00 for the target of 97.00 and 98.80 with stop loss at 93.20
MCX Nickel Dec (Daily Chart)
Technical Outlook:
Momentum studies have turned bullish; will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are increasing from over sold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 18-day EMA. The downside closing price reversal on the daily chart is somewhat positive.
Recommendations:
MCX Nickel Dec: Buy at 1060-1055 for the target of 1075 and 1090 with stop loss 1045
MCX Lead Dec (Daily Chart)
Technical Outlook:
Momentum studies have turned bullish; will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are increasing from over sold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 18-day EMA. The downside closing price reversal on the daily chart is somewhat positive.
Recommendations:
MCX Lead Dec: Buy at 106 –105.50 for the target of 108 and 109.80 with stop loss at 104.40
Meanwhile both copper and zinc futures on SHFE hit their daily limit up for the second consecutive time on Friday despite the sixth interest rate hike of 7.47% by China.
LME will be closed on 24th, 25th and 26th December for Christmas.
Global copper use rose 7.1 percent in the nine months ended Sept. 30, boosted by Chinese demand, the International Copper Study Group said.
MCX Copper Feb (Daily Chart)
Technical Outlook:
Momentum studies have turned bullish; will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are increasing from over sold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 18-day EMA. The downside closing price reversal on the daily chart is somewhat positive.
Recommendations:
MCX Copper Feb: Buy at 268-270 for the target of 276 and 280 with stop loss at 265.50
MCX Zinc Dec (Daily Chart)
Technical Outlook:
Momentum studies have turned bullish; will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are increasing from over sold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 18-day EMA. The downside closing price reversal on the daily chart is somewhat positive.
Recommendations:
MCX Zinc Dec: Buy at 94.50-94.00 for the target of 97.00 and 98.80 with stop loss at 93.20
MCX Nickel Dec (Daily Chart)
Technical Outlook:
Momentum studies have turned bullish; will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are increasing from over sold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 18-day EMA. The downside closing price reversal on the daily chart is somewhat positive.
Recommendations:
MCX Nickel Dec: Buy at 1060-1055 for the target of 1075 and 1090 with stop loss 1045
MCX Lead Dec (Daily Chart)
Technical Outlook:
Momentum studies have turned bullish; will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are increasing from over sold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 18-day EMA. The downside closing price reversal on the daily chart is somewhat positive.
Recommendations:
MCX Lead Dec: Buy at 106 –105.50 for the target of 108 and 109.80 with stop loss at 104.40
Energy
Nymex crude bounced back as US crude oil stocks fell for the fifth time last week and were noted at the lowest level since Feb.2005 and as reports noted that OPEC shipments may decline. However weighing on prices were forecasts of milder weather which will keep demand in a check.
Nymex crude jumped by 2.5% on Friday to settle at the highest price since Dec.12. Nymex crude bounced back as positive US consumer spending report released bolstered confidence in the economy easing concerns about oil demand. Also supporting prices was weaker dollar against the Euro, rally in gasoline futures, and a rise in US equity markets and reports that Opec shipments may fall.
MCX crude may witness thin volumes in coming week due to Christmas holiday in Global market. Thin volumes exacerbate price movements. Also traders will now square positions ahead of the year-end.
MCX Crude Oil Jan (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 and 18 days moving average. The downside closing price reversal on the daily chart is somewhat negative. Over all technical suggest a bullish market and prices are expected to go further up.
Recommendations:
MCX Crude Oil Jan: Buy at 3655-3660 for target of 3730 and 3765 with stop loss below 3620
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 and 18 days moving average. The downside closing price reversal on the daily chart is somewhat negative. Over all technical suggest a bullish market and prices are expected to go further up.
Recommendations:
MCX Natural Gas Jan: Buy at 290-285 for the target of 315 and 325 with stop loss at 270
Nymex crude jumped by 2.5% on Friday to settle at the highest price since Dec.12. Nymex crude bounced back as positive US consumer spending report released bolstered confidence in the economy easing concerns about oil demand. Also supporting prices was weaker dollar against the Euro, rally in gasoline futures, and a rise in US equity markets and reports that Opec shipments may fall.
MCX crude may witness thin volumes in coming week due to Christmas holiday in Global market. Thin volumes exacerbate price movements. Also traders will now square positions ahead of the year-end.
MCX Crude Oil Jan (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 and 18 days moving average. The downside closing price reversal on the daily chart is somewhat negative. Over all technical suggest a bullish market and prices are expected to go further up.
Recommendations:
MCX Crude Oil Jan: Buy at 3655-3660 for target of 3730 and 3765 with stop loss below 3620
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 and 18 days moving average. The downside closing price reversal on the daily chart is somewhat negative. Over all technical suggest a bullish market and prices are expected to go further up.
Recommendations:
MCX Natural Gas Jan: Buy at 290-285 for the target of 315 and 325 with stop loss at 270
Bullion
Gold rose after the dollar fell against the euro, boosting the appeal of the precious metal as an alternative investment. Silver also gained. Trading in gold is likely to remain sideways on thin trading towards the closure of the year and volatile action in currency and energy markets.
The dollar fell on Friday against 15 of the 16 most-active currencies. Investment in the StreetTracks Gold Trust, an exchange-traded fund backed by bullion, has climbed to a record 617 metric tons.
Gold also climbed on Friday on demand for a hedge against inflation, the U.S. Federal Reserve's preferred measure of inflation accelerated, a report by the Commerce Department showed.
The Fed, the European Central Bank along with central banks in Canada, Switzerland and the U.K., announced plans on Dec. 12 to coordinate efforts to add funds to the banking system to alleviate the credit squeeze stemming from sub prime mortgages.
MCX Gold Feb (Daily Chart)
Technical Outlook:
Momentum studies have turned bullish; will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are increasing from over sold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 18-day EMA. The downside closing price reversal on the daily chart is somewhat positive.
Recommendations:
MCX Gold Feb: Buy at 10340-330 for the target f 10380 and 10435 with stop loss at 10280
MCX Silver Mar (Daily Chart)
Technical Outlook:
Momentum studies have turned bullish; will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are increasing from over sold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 18-day EMA. The downside closing price reversal on the daily chart is somewhat positive.
Recommendations:
MCX Silver March: Buy at 19050-19000 for the target o 19180 and 19360 with stop loss at 18910
The dollar fell on Friday against 15 of the 16 most-active currencies. Investment in the StreetTracks Gold Trust, an exchange-traded fund backed by bullion, has climbed to a record 617 metric tons.
Gold also climbed on Friday on demand for a hedge against inflation, the U.S. Federal Reserve's preferred measure of inflation accelerated, a report by the Commerce Department showed.
The Fed, the European Central Bank along with central banks in Canada, Switzerland and the U.K., announced plans on Dec. 12 to coordinate efforts to add funds to the banking system to alleviate the credit squeeze stemming from sub prime mortgages.
MCX Gold Feb (Daily Chart)
Technical Outlook:
Momentum studies have turned bullish; will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are increasing from over sold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 18-day EMA. The downside closing price reversal on the daily chart is somewhat positive.
Recommendations:
MCX Gold Feb: Buy at 10340-330 for the target f 10380 and 10435 with stop loss at 10280
MCX Silver Mar (Daily Chart)
Technical Outlook:
Momentum studies have turned bullish; will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are increasing from over sold level, which is bullish and should support higher prices. The market's short-term trend is positive as the close remains above the 18-day EMA. The downside closing price reversal on the daily chart is somewhat positive.
Recommendations:
MCX Silver March: Buy at 19050-19000 for the target o 19180 and 19360 with stop loss at 18910
Friday, December 21, 2007
Christmas and New Year Holiday Schedule
CHRISTMAS HOLIDAY SCHEDULE
Monday, 24th December 2007
CY Time (GMT+2)
Spot:
Forex closing at 00:00
Gold closing at 00:00
Silver closing at 00:00
Futures:
Futures Currencies closing at 20:15
Fut. Gold closing at 00:00
& Silver closing at 00:00
Energies closing at 00:00
Coffee ‘C’ closed
Equity Indexes:
S&P, Nasdaq closing at 20:15
Dow-Jones closing at 20:30
CFDs closing at 20:00
Tuesday, 25th December 2007 – Christmas Day
CY Time (GMT+2)
Spot:
Forex closed
Gold closed
Silver closed
Futures:
Futures Currencies closed
Fut.Gold closed
& Silver closed
Energies closed
Coffee ‘C’ closed
Equity Indexes:
S&P, Nasdaq closed
Dow-Jones closed
CFDs closed
Wednesday, 26th December 2007
CY Time (GMT+2)
Spot:
Forex opening at 01:00
Gold opening at 02:00
Silver opening at 02:00
Futures:
Futures Currencies opening at 13:00
Fut.Gold opening at 14:15
& Silver opening at 14:15
Energies opening at 01:00
Coffee ‘C’ closed
Equity Indexes:
S&P, Nasdaq opening at 13:00
Dow-Jones opening at 14:15
CFDs opening at 16:30
NEW YEAR HOLIDAY SCHEDULE
Monday, 31st December 2007
CY Time (GMT+2)
Spot:
Forex closing at 23:30
Gold closing at 23:30
Silver closing at 23:30
Futures:
Futures Currencies closing at 23:00
Fut.Gold closing at 23:30
& Silver closing at 23:30
Energies closing at 23:30
Coffee ‘C’ closing at 19:30
Equity Indexes:
S&P, Nasdaq closing at 23:15
Dow-Jones closing at 23:30
CFDs closing at 23:00
Tuesday, 1st January 2008 – New Years’ Day
CY Time (GMT+2)
Spot:
Forex closed
Gold closed
Silver closed
Futures:
Futures Currencies closed
Fut.Gold closed
& Silver closed
Energies closed
Coffee ‘C’ closed
Equity Indexes:
S&P, Nasdaq closed
Dow-Jones closed
CFDs closed
Wednesday, 2nd January 2008
CY Time (GMT+2)
Spot:
Forex opening 01:00
Gold opening 02:00
Silver opening 02:00
Futures:
Futures Currencies opening 01:00
Fut.Gold opening 02:15
& Silver opening 02:15
Energies opening 01:00
Coffee ‘C’ opening 15:30
MCXARUN
9994500540
S&P, Nasdaq opening 01:00
Dow-Jones opening 02:15
CFDs opening 16:30
precious metals
COMEX Gold:
Gold trading is weaker in ACCESS trade this morning extending the prior sessions weaker close. Trend indicators have moved from a bullish to a neutral price pattern.
TREND INDICATORS:
Simple Moving Average (10-Day): Recent activity this morning has seen prices trade below this moving average. Furthermore the markets trend has changed direction since the previous session. The slope of the moving average is in a downward slope from the previous session indicating 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 cross below this moving average. However, despite prices trading below the moving average line, the moving average is in an upward slope from the previous session. If prices trade above the moving average then the trend will be clearly established as up. However, this weakness in the price will need to be watched. As a result the 25-Day simple moving average has a weak 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 50.16). 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 50.16 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 oversold prices. 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:
848.00 - Highest High in last 50-Days
830.63 - 20-Day Simple Moving Average Plus 2 Standard Deviations
822.80 - Highest High in last 10-Days
819.45 - 20-Day Simple Moving Average Plus 1 Standard Deviation
807.60 - High
806.71 - 10-Day Simple Moving Average
805.40 - 3-Day Simple Moving Average
805.26 - 25-Day Simple Moving Average
803.40 - Last Price
802.30 - Low
797.65 - 50-Day Simple Moving Average
797.11 - 20-Day Simple Moving Average Minus 1 Standard Deviation
789.60 - Lowest Low in last 10-Days
785.93 - 20-Day Simple Moving Average Minus 2 Standard Deviations
751.90 - 100-Day Simple Moving Average
749.00 - Lowest Low in last 50-Days
710.74 - 200-Day Simple Moving Average
COMEX Silver:
Silver futures are weaker this morning reversing the firmer tone seen during the prior session. Trend indicators are indicating a bearish market and the overall strength of the trend is strong, as indicated by the ADX. Momentum readings are also bearish. 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 and should be watched.
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. However, despite prices trading below the moving average line, the moving average is in an upward slope from the previous session. If prices trade above the moving average then the trend will be clearly established as up. However, this weakness in the price will need to be watched. As a result the 50-Day simple moving average has a weak bullish bias.
ADX: The Average Directional Change (ADX) indicates the strength of a markets underlying trend. A rising ADX is interpreted as building trend strength, while a falling ADX indicates weakness in the underlying trend and the potential of a market reversal. On this market, the 14-Day ADX is rising, while the long term trend, based on a 50-Day moving average, is up. As the ADX is rising it indicates that the current trend is strong and should remain intact. Look for the current trend to continue.
MOMENTUM INDICATORS:
MACD: The MACD is in 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 44.22). This indicator issues bullish signals when the RSI line dips below the oversold zone (currently set at 20.00); a bearish signal is generated when the RSI rises into the overbought zone (currently set at 80.00). Nevertheless with the RSI at 44.22 the market is somewhat oversold. However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence of strength from this indicator before getting too bullish 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 oversold prices. Volatility also appears to be increasing, as evidenced by a larger distance between the upper and lower bands over the past few sessions. Despite this 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:
16.275 - Highest High in last 50-Days
15.097 - 20-Day Simple Moving Average Plus 2 Standard Deviations
14.975 - Highest High in last 10-Days
14.781 - 20-Day Simple Moving Average Plus 1 Standard Deviation
14.466 - 25-Day Simple Moving Average
14.416 - 50-Day Simple Moving Average
14.376 - 10-Day Simple Moving Average
14.290 - High
14.172 - 3-Day Simple Moving Average
14.150 - 20-Day Simple Moving Average Minus 1 Standard Deviation
14.130 - Last Price
14.110 - Low
13.834 - 20-Day Simple Moving Average Minus 2 Standard Deviations
13.740 - Lowest Low in last 10-Days
13.628 - 100-Day Simple Moving Average
13.457 - 200-Day Simple Moving Average
13.325 - Lowest Low in last 50-Days
MCXARUN
9994500540
Gold trading is weaker in ACCESS trade this morning extending the prior sessions weaker close. Trend indicators have moved from a bullish to a neutral price pattern.
TREND INDICATORS:
Simple Moving Average (10-Day): Recent activity this morning has seen prices trade below this moving average. Furthermore the markets trend has changed direction since the previous session. The slope of the moving average is in a downward slope from the previous session indicating 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 cross below this moving average. However, despite prices trading below the moving average line, the moving average is in an upward slope from the previous session. If prices trade above the moving average then the trend will be clearly established as up. However, this weakness in the price will need to be watched. As a result the 25-Day simple moving average has a weak 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 50.16). 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 50.16 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 oversold prices. 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:
848.00 - Highest High in last 50-Days
830.63 - 20-Day Simple Moving Average Plus 2 Standard Deviations
822.80 - Highest High in last 10-Days
819.45 - 20-Day Simple Moving Average Plus 1 Standard Deviation
807.60 - High
806.71 - 10-Day Simple Moving Average
805.40 - 3-Day Simple Moving Average
805.26 - 25-Day Simple Moving Average
803.40 - Last Price
802.30 - Low
797.65 - 50-Day Simple Moving Average
797.11 - 20-Day Simple Moving Average Minus 1 Standard Deviation
789.60 - Lowest Low in last 10-Days
785.93 - 20-Day Simple Moving Average Minus 2 Standard Deviations
751.90 - 100-Day Simple Moving Average
749.00 - Lowest Low in last 50-Days
710.74 - 200-Day Simple Moving Average
COMEX Silver:
Silver futures are weaker this morning reversing the firmer tone seen during the prior session. Trend indicators are indicating a bearish market and the overall strength of the trend is strong, as indicated by the ADX. Momentum readings are also bearish. 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 and should be watched.
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. However, despite prices trading below the moving average line, the moving average is in an upward slope from the previous session. If prices trade above the moving average then the trend will be clearly established as up. However, this weakness in the price will need to be watched. As a result the 50-Day simple moving average has a weak bullish bias.
ADX: The Average Directional Change (ADX) indicates the strength of a markets underlying trend. A rising ADX is interpreted as building trend strength, while a falling ADX indicates weakness in the underlying trend and the potential of a market reversal. On this market, the 14-Day ADX is rising, while the long term trend, based on a 50-Day moving average, is up. As the ADX is rising it indicates that the current trend is strong and should remain intact. Look for the current trend to continue.
MOMENTUM INDICATORS:
MACD: The MACD is in 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 44.22). This indicator issues bullish signals when the RSI line dips below the oversold zone (currently set at 20.00); a bearish signal is generated when the RSI rises into the overbought zone (currently set at 80.00). Nevertheless with the RSI at 44.22 the market is somewhat oversold. However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence of strength from this indicator before getting too bullish 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 oversold prices. Volatility also appears to be increasing, as evidenced by a larger distance between the upper and lower bands over the past few sessions. Despite this 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:
16.275 - Highest High in last 50-Days
15.097 - 20-Day Simple Moving Average Plus 2 Standard Deviations
14.975 - Highest High in last 10-Days
14.781 - 20-Day Simple Moving Average Plus 1 Standard Deviation
14.466 - 25-Day Simple Moving Average
14.416 - 50-Day Simple Moving Average
14.376 - 10-Day Simple Moving Average
14.290 - High
14.172 - 3-Day Simple Moving Average
14.150 - 20-Day Simple Moving Average Minus 1 Standard Deviation
14.130 - Last Price
14.110 - Low
13.834 - 20-Day Simple Moving Average Minus 2 Standard Deviations
13.740 - Lowest Low in last 10-Days
13.628 - 100-Day Simple Moving Average
13.457 - 200-Day Simple Moving Average
13.325 - Lowest Low in last 50-Days
MCXARUN
9994500540
energy signal
Crude Oil:
Front month crude oil is higher in ACCESS trade this morning extending the prior sessions gains. Trend indicators are indicating a bearish market. However the overall strength of the trend, as indicated by the ADX, is weak and should be watched as a result. MACD also has issued a bullish signal, suggesting a reversal in the current trend.
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 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 cross 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: MACD has issued a bullish signal, as the signal line has crossed above the True MACD. With the current long term trend, based on a 50 day simple moving average, to the upside, this suggests that prices will continue to rise for a time.
RSI: The 14-Day RSI is in neutral territory. (RSI is at 51.58). 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 51.58 the market is somewhat overbought. However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence of weakness from this indicator before getting too bearish here.
VOLATILITY INDICATORS:
Bollinger Bands (20-Day Average +/-1 Standard Deviation): As prices are closer to the bottom band than the top band, the Bollinger Bands are indicating overbought prices. Volatility also appears to be decreasing, as evidenced by a smaller distance between the upper and lower bands over the past few sessions.
RESISTANCE AND SUPPORT LEVELS:
99.29 - Highest High in last 50-Days
97.03 - 20-Day Simple Moving Average Plus 2 Standard Deviations
94.85 - Highest High in last 10-Days
94.12 - 20-Day Simple Moving Average Plus 1 Standard Deviation
92.19 - 25-Day Simple Moving Average
92.19 - High
91.93 - Last Price
91.77 - 50-Day Simple Moving Average
91.26 - Low
91.08 - 3-Day Simple Moving Average
90.84 - 10-Day Simple Moving Average
88.31 - 20-Day Simple Moving Average Minus 1 Standard Deviation
87.07 - Lowest Low in last 10-Days
85.41 - 20-Day Simple Moving Average Minus 2 Standard Deviations
84.09 - 100-Day Simple Moving Average
82.69 - Lowest Low in last 50-Days
75.35 - 200-Day Simple Moving Average
Natural Gas:
Natural Gas contracts are weaker this morning reversing the firmer tone seen during the prior session. Trend indicators are indicating a bearish 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 bearish. 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 and should be watched.
TREND INDICATORS:
Simple Moving Average (10-Day): Recent activity this morning has seen prices trade above this moving average. However, despite prices trading above the moving average line, the moving average is in a downward slope from the previous session. If prices trade below the moving average then the trend will be clearly established as up. However, this strength in the price will need to be watched. As a result the 10-Day simple moving average has a weak 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. However, even though prices are trading below the moving average, the moving average slope is up from the previous session. Should prices continue lower the moving average will eventually follow and then the down trend will be more clearly established. However, this strength in the moving average will need to be watched. As a result the 50-Day simple moving average has a weak bearish bias.
ADX: The Average Directional Change (ADX) indicates the strength of a markets underlying trend. A rising ADX is interpreted as building trend strength, while a falling ADX indicates weakness in the underlying trend and the potential of a market reversal. On this market, the 14-Day ADX is falling, while the long term trend, based on a 50-Day moving average, is down. However, the weak ADX indicates that the current trend is deteriorating and may possibly reverse. Look for a 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 45.49). 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 45.49 the market is somewhat oversold. However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence of strength from this indicator before getting too bullish 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 oversold prices. 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:
8.712 - Highest High in last 50-Days
7.752 - 20-Day Simple Moving Average Plus 2 Standard Deviations
7.529 - Highest High in last 10-Days
7.520 - 20-Day Simple Moving Average Plus 1 Standard Deviation
7.506 - 50-Day Simple Moving Average
7.365 - 25-Day Simple Moving Average
7.175 - High
7.166 - Last Price
7.162 - 3-Day Simple Moving Average
7.149 - Low
7.142 - 10-Day Simple Moving Average
7.125 - 200-Day Simple Moving Average
7.058 - 20-Day Simple Moving Average Minus 1 Standard Deviation
6.933 - 100-Day Simple Moving Average
6.914 - Lowest Low in last 10-Days
6.827 - 20-Day Simple Moving Average Minus 2 Standard Deviations
6.640 - Lowest Low in last 50-Days
MCXARUN
9994500540
Front month crude oil is higher in ACCESS trade this morning extending the prior sessions gains. Trend indicators are indicating a bearish market. However the overall strength of the trend, as indicated by the ADX, is weak and should be watched as a result. MACD also has issued a bullish signal, suggesting a reversal in the current trend.
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 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 cross 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: MACD has issued a bullish signal, as the signal line has crossed above the True MACD. With the current long term trend, based on a 50 day simple moving average, to the upside, this suggests that prices will continue to rise for a time.
RSI: The 14-Day RSI is in neutral territory. (RSI is at 51.58). 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 51.58 the market is somewhat overbought. However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence of weakness from this indicator before getting too bearish here.
VOLATILITY INDICATORS:
Bollinger Bands (20-Day Average +/-1 Standard Deviation): As prices are closer to the bottom band than the top band, the Bollinger Bands are indicating overbought prices. Volatility also appears to be decreasing, as evidenced by a smaller distance between the upper and lower bands over the past few sessions.
RESISTANCE AND SUPPORT LEVELS:
99.29 - Highest High in last 50-Days
97.03 - 20-Day Simple Moving Average Plus 2 Standard Deviations
94.85 - Highest High in last 10-Days
94.12 - 20-Day Simple Moving Average Plus 1 Standard Deviation
92.19 - 25-Day Simple Moving Average
92.19 - High
91.93 - Last Price
91.77 - 50-Day Simple Moving Average
91.26 - Low
91.08 - 3-Day Simple Moving Average
90.84 - 10-Day Simple Moving Average
88.31 - 20-Day Simple Moving Average Minus 1 Standard Deviation
87.07 - Lowest Low in last 10-Days
85.41 - 20-Day Simple Moving Average Minus 2 Standard Deviations
84.09 - 100-Day Simple Moving Average
82.69 - Lowest Low in last 50-Days
75.35 - 200-Day Simple Moving Average
Natural Gas:
Natural Gas contracts are weaker this morning reversing the firmer tone seen during the prior session. Trend indicators are indicating a bearish 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 bearish. 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 and should be watched.
TREND INDICATORS:
Simple Moving Average (10-Day): Recent activity this morning has seen prices trade above this moving average. However, despite prices trading above the moving average line, the moving average is in a downward slope from the previous session. If prices trade below the moving average then the trend will be clearly established as up. However, this strength in the price will need to be watched. As a result the 10-Day simple moving average has a weak 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. However, even though prices are trading below the moving average, the moving average slope is up from the previous session. Should prices continue lower the moving average will eventually follow and then the down trend will be more clearly established. However, this strength in the moving average will need to be watched. As a result the 50-Day simple moving average has a weak bearish bias.
ADX: The Average Directional Change (ADX) indicates the strength of a markets underlying trend. A rising ADX is interpreted as building trend strength, while a falling ADX indicates weakness in the underlying trend and the potential of a market reversal. On this market, the 14-Day ADX is falling, while the long term trend, based on a 50-Day moving average, is down. However, the weak ADX indicates that the current trend is deteriorating and may possibly reverse. Look for a 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 45.49). 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 45.49 the market is somewhat oversold. However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence of strength from this indicator before getting too bullish 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 oversold prices. 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:
8.712 - Highest High in last 50-Days
7.752 - 20-Day Simple Moving Average Plus 2 Standard Deviations
7.529 - Highest High in last 10-Days
7.520 - 20-Day Simple Moving Average Plus 1 Standard Deviation
7.506 - 50-Day Simple Moving Average
7.365 - 25-Day Simple Moving Average
7.175 - High
7.166 - Last Price
7.162 - 3-Day Simple Moving Average
7.149 - Low
7.142 - 10-Day Simple Moving Average
7.125 - 200-Day Simple Moving Average
7.058 - 20-Day Simple Moving Average Minus 1 Standard Deviation
6.933 - 100-Day Simple Moving Average
6.914 - Lowest Low in last 10-Days
6.827 - 20-Day Simple Moving Average Minus 2 Standard Deviations
6.640 - Lowest Low in last 50-Days
MCXARUN
9994500540
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