MCXARUN
9994500540
Friday, August 29, 2008
Wednesday, August 27, 2008
safe trade calls
GOLD
Continue to view as long Resistance 11875/11950, down trend continue. for the day sell below 11715 S/L 11735 and T/p 11690/655/630/11590/sustain below down rally OR buy only abv 11875 S/L 11850 and T/p 11910-940/towards 11980 (any time close above 11950/ 12680/12950/13550/13850 bullish while close below 11275/11125 bearish for medium term)
SILVER
As long Resistance 20600 down trend likely to continue. for the day sell below 20200 S/L 20275 and T/p 20125-20050/ towards 19950 OR buy only abv 20600 S/L 20530 and T/p 20700-800/21000, sustain below 19800 seen down rally sharp (any time close below 19200-18900 bearish rally while close above 20600/21900/22850/25000/26100/ 27250/28000 bullish for medium term)
CRUDE
Crude oil inventory schedule to release today at 8.05 PM. Continue to view as long Resistance of 5210/5290, down trend likely to continue. for the day sell below 5040 S/L 5060 and T/p 5000/4955-60/sustain below seen down rally OR sell ard 5240-45 S/L 5250 and T/p 5215/5170, only sustain abv 5250 & 5290 trigger buy call now (now crude need to close above 5290/5475/5710/ 6375 for bullish rally while close below 4865/4760 bearish for medium term)
COPPER
Continue to view as long Resistance of 339 & 340.5, down trend continue. book profit on sell below 335.5, fresh sell below 328 S/L 329.5 and T/p 326-25/ 323 OR sell ard 338.2-338.5 S/L 339 and T/p 339.5/334 (upside strong rally only on close above 340.5/351/ 360.5/ 371/387.5/398 while close below 312/ 302/289/265/251.5/235 bearish for medium term)
MCXARUN
9994500540
Continue to view as long Resistance 11875/11950, down trend continue. for the day sell below 11715 S/L 11735 and T/p 11690/655/630/11590/sustain below down rally OR buy only abv 11875 S/L 11850 and T/p 11910-940/towards 11980 (any time close above 11950/ 12680/12950/13550/13850 bullish while close below 11275/11125 bearish for medium term)
SILVER
As long Resistance 20600 down trend likely to continue. for the day sell below 20200 S/L 20275 and T/p 20125-20050/ towards 19950 OR buy only abv 20600 S/L 20530 and T/p 20700-800/21000, sustain below 19800 seen down rally sharp (any time close below 19200-18900 bearish rally while close above 20600/21900/22850/25000/26100/ 27250/28000 bullish for medium term)
CRUDE
Crude oil inventory schedule to release today at 8.05 PM. Continue to view as long Resistance of 5210/5290, down trend likely to continue. for the day sell below 5040 S/L 5060 and T/p 5000/4955-60/sustain below seen down rally OR sell ard 5240-45 S/L 5250 and T/p 5215/5170, only sustain abv 5250 & 5290 trigger buy call now (now crude need to close above 5290/5475/5710/ 6375 for bullish rally while close below 4865/4760 bearish for medium term)
COPPER
Continue to view as long Resistance of 339 & 340.5, down trend continue. book profit on sell below 335.5, fresh sell below 328 S/L 329.5 and T/p 326-25/ 323 OR sell ard 338.2-338.5 S/L 339 and T/p 339.5/334 (upside strong rally only on close above 340.5/351/ 360.5/ 371/387.5/398 while close below 312/ 302/289/265/251.5/235 bearish for medium term)
MCXARUN
9994500540
Tuesday, August 26, 2008
GENERAL MARKET CONDITIONS
One should enjoy the consolidation days in metals and energies. Consolidation days with very low volatility have become scarce these days. Its also suggests the command the UK has over all foreign exchange markets and commodity markets. Once again the US dollar and crude oil prices will be the key to all commodities. Base metals should remain firm/rise as Chinese demand picks up. Markets will be looking forward to the FOMC minutes for direction today.
Pit trading is closed in US on Monday (1st September) due to Labor Day. Volumes will fall as the week progresses. There will be position squaring and rebuilding ahead of the holiday. Traders will also be taking positions for the US non farm payrolls on 5th September. All these will only increase the volatility for the weeks ahead.
Zinc, lead and Nickel can rise on month end short covering. China will open slowly its factories which were closed due to Olympics which will result in greater demand for these metals and firm prices. Technically also these metals are in medium term oversold zone. Physical demand of gold and silver will remain firm and premiums will also remain high.
LME COPPER (3 MONTHS)
Copper has to break the $7800-$8000 zone for $8450. Sellers will emerge this week only if copper falls below $7625.
MCXARUN
9994500540
Pit trading is closed in US on Monday (1st September) due to Labor Day. Volumes will fall as the week progresses. There will be position squaring and rebuilding ahead of the holiday. Traders will also be taking positions for the US non farm payrolls on 5th September. All these will only increase the volatility for the weeks ahead.
Zinc, lead and Nickel can rise on month end short covering. China will open slowly its factories which were closed due to Olympics which will result in greater demand for these metals and firm prices. Technically also these metals are in medium term oversold zone. Physical demand of gold and silver will remain firm and premiums will also remain high.
LME COPPER (3 MONTHS)
Copper has to break the $7800-$8000 zone for $8450. Sellers will emerge this week only if copper falls below $7625.
MCXARUN
9994500540
safe trade calls
GOLD
Continue to view as long Resistance 11875/11950, down trend continue. for the day sell only below 11625-595 S/L 11655 and T/p 11560-525/11460/sustain below towards 11300 in coming days OR sell ard 11860-65 S/L 11870 and T/p 11820 upto 11770 only sustain abv 11875 & 11950 trigger buy call now (any time close above 11950/12680/12950/ 13550/13850 bullish while close below 11275/11125 bearish for medium term)
SILVER
book profit on sell ard 20330-340, fresh sell only below 20050 S/L 20125 and T/p 19975-900/19800/below down rally OR sell ard 20560-70 S/L 20600 and T/p 20475-20350, only sustain abv 20600 trigger buy call now (any time close below 19200-18900 bearish rally while close above 20600/21900/22850/25000/ 26100/27250/28000 bullish for medium term)
CRUDE
PRICE TURN ALMOST FROM OUR GIVEN LEVELS Continue to view as long Resistance of 5210/5290, down trend likely to continue. for the day sell only below 4975 & 4960 S/L 5000 and T/p 4920-4905/4865-70/sustain below down rally sharp OR sell ard 5140-45 S/L 5150 and T/p 5115-5100 (now crude need to close above 5290/5475/5710/ 6375 for bullish rally while close below 4865/4760 bearish for medium term)
COPPER
As long Resistance of 338.5 & 340.5, down trend continue. for the day sell below 335.5 S/L 336.75 and T/p 333.75-333/331/329.5/sustain below down rally OR buy only abv 340.5 S/L 339.25 and T/p 342-344/upto 346.5 (upside strong rally only on close above 340.5/351/ 360.5/371/387.5/398 while close below 312/302/289/265/251.5/235 bearish for medium term)
MCXARUN
9994500540
Continue to view as long Resistance 11875/11950, down trend continue. for the day sell only below 11625-595 S/L 11655 and T/p 11560-525/11460/sustain below towards 11300 in coming days OR sell ard 11860-65 S/L 11870 and T/p 11820 upto 11770 only sustain abv 11875 & 11950 trigger buy call now (any time close above 11950/12680/12950/ 13550/13850 bullish while close below 11275/11125 bearish for medium term)
SILVER
book profit on sell ard 20330-340, fresh sell only below 20050 S/L 20125 and T/p 19975-900/19800/below down rally OR sell ard 20560-70 S/L 20600 and T/p 20475-20350, only sustain abv 20600 trigger buy call now (any time close below 19200-18900 bearish rally while close above 20600/21900/22850/25000/ 26100/27250/28000 bullish for medium term)
CRUDE
PRICE TURN ALMOST FROM OUR GIVEN LEVELS Continue to view as long Resistance of 5210/5290, down trend likely to continue. for the day sell only below 4975 & 4960 S/L 5000 and T/p 4920-4905/4865-70/sustain below down rally sharp OR sell ard 5140-45 S/L 5150 and T/p 5115-5100 (now crude need to close above 5290/5475/5710/ 6375 for bullish rally while close below 4865/4760 bearish for medium term)
COPPER
As long Resistance of 338.5 & 340.5, down trend continue. for the day sell below 335.5 S/L 336.75 and T/p 333.75-333/331/329.5/sustain below down rally OR buy only abv 340.5 S/L 339.25 and T/p 342-344/upto 346.5 (upside strong rally only on close above 340.5/351/ 360.5/371/387.5/398 while close below 312/302/289/265/251.5/235 bearish for medium term)
MCXARUN
9994500540
Monday, August 25, 2008
safe trade calls
GOLD
Continue to view as long Resistance 11875/11950, down trend continue. for the day sell below 11610-595 S/L 11640 and T/p 11560-525/11460/sustain below towards 11300 in coming days OR sell ard 11860-65 S/L 11870 and T/p 11820 upto 11770 (any time close above 11950/12680/12950/13550/13850 bullish while close below 11275/11125 bearish for medium term)
SILVER
we book profit on sell below 20075, for the day sell below 19800 S/L 19910 and T/p 19700/600/490/sustain below towards 19200 in coming days OR sell ard 20330-40 S/L 20360 and T/p 20230-170/20100, only abv 20600 trigger buy call now (any time close below 19200-18900 bearish rally while close above 20600/21900/22850/25000/26100/ 27250/28000 bullish for medium term)
CRUDE
As long Resistance of 5210/5290, down trend likely to continue. book profit on sell below 5225, fresh sell below 4950 S/L 4980 and T/p 4920-4905/4865-70/ sustain below down rally OR sell ard 5090-95 S/L 5100 and T/p 5065-45 (now crude need to close above 5290/5475/ 5710/6375 for bullish rally while close below 4865/4760 bearish for medium term)
COPPER
LME Closed today for Market Holiday As long Resistance of 337 & 340.5, down trend continue. for the day sell below 329.5-329 S/L 331 and T/p 327.5/ 325/323/sustain below towards 317 in coming days OR sell ard 336.2-336.5 S/L 337 and T/p 334.5/332.5(upside strong rally only on close above 340.5/ 351/360.5/371/387.5/398 while close below 312/302/289/265/251.5/235 bearish for medium term)
MCXARUN
9994500540
Continue to view as long Resistance 11875/11950, down trend continue. for the day sell below 11610-595 S/L 11640 and T/p 11560-525/11460/sustain below towards 11300 in coming days OR sell ard 11860-65 S/L 11870 and T/p 11820 upto 11770 (any time close above 11950/12680/12950/13550/13850 bullish while close below 11275/11125 bearish for medium term)
SILVER
we book profit on sell below 20075, for the day sell below 19800 S/L 19910 and T/p 19700/600/490/sustain below towards 19200 in coming days OR sell ard 20330-40 S/L 20360 and T/p 20230-170/20100, only abv 20600 trigger buy call now (any time close below 19200-18900 bearish rally while close above 20600/21900/22850/25000/26100/ 27250/28000 bullish for medium term)
CRUDE
As long Resistance of 5210/5290, down trend likely to continue. book profit on sell below 5225, fresh sell below 4950 S/L 4980 and T/p 4920-4905/4865-70/ sustain below down rally OR sell ard 5090-95 S/L 5100 and T/p 5065-45 (now crude need to close above 5290/5475/ 5710/6375 for bullish rally while close below 4865/4760 bearish for medium term)
COPPER
LME Closed today for Market Holiday As long Resistance of 337 & 340.5, down trend continue. for the day sell below 329.5-329 S/L 331 and T/p 327.5/ 325/323/sustain below towards 317 in coming days OR sell ard 336.2-336.5 S/L 337 and T/p 334.5/332.5(upside strong rally only on close above 340.5/ 351/360.5/371/387.5/398 while close below 312/302/289/265/251.5/235 bearish for medium term)
MCXARUN
9994500540
Friday, August 22, 2008
GENERAL MARKET CONDITIONS
Once again it’s the US dollar story for all metals and energies. The difference this time around is that the rise is followed by huge demand in all metals. In my view if the rise in commodities is backed by increase in physical demand then higher prices are sustainable. With every rise the premium on gold and silver bars will fall in Asia.
Yesterday one of my clients went long in comex gold december future at $923 only to exit at $928 making a profit of $5. After booking the profit he immediately went short in gold at $928 only to book a loss at $931. This is one of the dumbest ways of trading. It is these kinds of traders who incur losses and curse the commodity exchanges for their trading losses. The best way to trade is to take a break between two trades, if the first trade is a profitable one. Commodity futures are one of the investing ways where profits and losses can be unlimited. Reduce of greed is the key. For the day traders then should have a target profit in mind. If the target profit is reached one should close their trading screens. If they do not close their trading screens then chances of profit getting reduced or profits converted in losses are higher as risk appetite also increases.
NYMEX CRUDE OIL (1ST CONTRACT)
Crude oil targets $135.80 and $145.60 in the short term as long as $109.80 holds.
MCXARUN
9994500540
Yesterday one of my clients went long in comex gold december future at $923 only to exit at $928 making a profit of $5. After booking the profit he immediately went short in gold at $928 only to book a loss at $931. This is one of the dumbest ways of trading. It is these kinds of traders who incur losses and curse the commodity exchanges for their trading losses. The best way to trade is to take a break between two trades, if the first trade is a profitable one. Commodity futures are one of the investing ways where profits and losses can be unlimited. Reduce of greed is the key. For the day traders then should have a target profit in mind. If the target profit is reached one should close their trading screens. If they do not close their trading screens then chances of profit getting reduced or profits converted in losses are higher as risk appetite also increases.
NYMEX CRUDE OIL (1ST CONTRACT)
Crude oil targets $135.80 and $145.60 in the short term as long as $109.80 holds.
MCXARUN
9994500540
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