Commodity Technical Report 13 August,2015 - Emkay Commotrade-Shanghai Metals Market

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Commodity Technical Report 13 August,2015 - Emkay Commotrade

Industry News 09:39:12AM Aug 14, 2015 Source:SMM

By Paul Ploumis 13 Aug 2015  Last updated at 08:21:44 GMT

Lead: Lead prices moved higher throughout the previous session and the counter closed above its trading range yesterday. Dips from higher levels will find support between 112.50-112 zones. Reversals from these areas can be used by traders to go long in the counter. Sustenance above 113.50 will take prices higher towards 115.50/116 levels

Trade Strategies


Commodity Trading Strategies for the day

CommodityStrategyLevelsTargetStop-Loss
Gold – OctBuy25800—257602596025690
Nickel – AugBuy690—685705.50678.40
Lead – AugBuy112—111.80113.50111.10
Aluminum - AugBuy Above102.65103.80101.50

Daily Commodity Technical

Gold –Daily Chart

Gold: Gold prices hit an intraday high of 26034 levels and prices closed with a gain of 2.31% yesterday. Prices can retrace lower and test immediate support around 25800-25750 zones. Failure to break below this support will see prices rebound back towards 26000 levels. The intraday outlook for the counter will turn negative if prices start to trade below 25700 levels. The counter can dip towards 25550 in that case.

Silver –Daily Chart

Silver: Silver prices hit an intraday high of 36171 levels and the counter closed with a gain of 2.15% yesterday. Sustenance below 35950 will see prices retrace lower towards 35500/35400 zones. The counter will trade in corrective mode if prices sustain below 35950 levels today. Momentum above 35950 levels will see prices move towards 36200/36400 levels.

Crude –Daily Chart

Crude Oil (Rs/Bbl): Crude oil prices are trading around resistance at 2840-2550 zones. Prices need to decisively trade above this resistance for the counter to rebound towards 2885/2912 levels. Failure to do so will see prices slip towards 2800/2765 levels The price setup for the crude oil continues to be bearish and a near term reversal is likely only on a daily close above 2900 levels

Natural Gas –Daily Chart

Natural Gas (Rs./Mmbtu): Natural gas prices rallied throughout yesterday's session and the counter closed with a gain of 3.88% yesterday. The counter is trading around crucial resistance around 190 levels Failure to sustain above this resistance will see prices dip towards 186.50/185 levels A daily close above 191 will take prices higher towards 194.50/198 levels

Copper –Daily Chart

Copper: Copper prices managed to rebound after holding on to its support between 330-328 levels yesterday. Sustenance above 340 levels will see prices rebound further towards 3441347.50 levels. Intraday view for the counter will be positive until prices stay above 335 levels A break below 335 will see prices weaken towards 3321330 levels again. 

Zinc –Daily Chart

Zinc: The intraday view for zinc will remain positive until prices stay above support at 118 levels. Until prices hold on to this support prices will find buying on dips to1 1 8-118.50 levels and the counter will rebound towards 119.50/120.25 levels. A daily close below 118 will see prices retrace lower towards 117/116.50 levels.

Lead: Lead prices moved higher throughout the previous session and the counter closed above its trading range yesterday. Dips from higher levels will find support between 112.50-112 zones. Reversals from these areas can be used by traders to go long in the counter. Sustenance above 113.50 will take prices higher towards 115.50/116 levels.

Nickel: Nickel prices are trading around its immediate support between 690-685 levels. Sustenance above these zones will see prices move higher towards next resistance around 705 areas. A daily close above 705 will see prices move towards 713.5017113.80 levels. Areas between 671-665 are the major support for the counter.

Aluminium: Aluminium prices continue to be range bound between 102.60-99.70 levels. A decisive breakout above 102.60 will see prices rally towards 103.401104 levels. Failure to sustain above 102.60 will see prices retrace lower towards 100.50 levels again. Traders can go long if the counter breaks above 102.60 mark.

Courtesy : Emkay Commotrade


Commodity Technical Report 13 August,2015 - Emkay Commotrade

Industry News 09:39:12AM Aug 14, 2015 Source:SMM

By Paul Ploumis 13 Aug 2015  Last updated at 08:21:44 GMT

Lead: Lead prices moved higher throughout the previous session and the counter closed above its trading range yesterday. Dips from higher levels will find support between 112.50-112 zones. Reversals from these areas can be used by traders to go long in the counter. Sustenance above 113.50 will take prices higher towards 115.50/116 levels

Trade Strategies


Commodity Trading Strategies for the day

CommodityStrategyLevelsTargetStop-Loss
Gold – OctBuy25800—257602596025690
Nickel – AugBuy690—685705.50678.40
Lead – AugBuy112—111.80113.50111.10
Aluminum - AugBuy Above102.65103.80101.50

Daily Commodity Technical

Gold –Daily Chart

Gold: Gold prices hit an intraday high of 26034 levels and prices closed with a gain of 2.31% yesterday. Prices can retrace lower and test immediate support around 25800-25750 zones. Failure to break below this support will see prices rebound back towards 26000 levels. The intraday outlook for the counter will turn negative if prices start to trade below 25700 levels. The counter can dip towards 25550 in that case.

Silver –Daily Chart

Silver: Silver prices hit an intraday high of 36171 levels and the counter closed with a gain of 2.15% yesterday. Sustenance below 35950 will see prices retrace lower towards 35500/35400 zones. The counter will trade in corrective mode if prices sustain below 35950 levels today. Momentum above 35950 levels will see prices move towards 36200/36400 levels.

Crude –Daily Chart

Crude Oil (Rs/Bbl): Crude oil prices are trading around resistance at 2840-2550 zones. Prices need to decisively trade above this resistance for the counter to rebound towards 2885/2912 levels. Failure to do so will see prices slip towards 2800/2765 levels The price setup for the crude oil continues to be bearish and a near term reversal is likely only on a daily close above 2900 levels

Natural Gas –Daily Chart

Natural Gas (Rs./Mmbtu): Natural gas prices rallied throughout yesterday's session and the counter closed with a gain of 3.88% yesterday. The counter is trading around crucial resistance around 190 levels Failure to sustain above this resistance will see prices dip towards 186.50/185 levels A daily close above 191 will take prices higher towards 194.50/198 levels

Copper –Daily Chart

Copper: Copper prices managed to rebound after holding on to its support between 330-328 levels yesterday. Sustenance above 340 levels will see prices rebound further towards 3441347.50 levels. Intraday view for the counter will be positive until prices stay above 335 levels A break below 335 will see prices weaken towards 3321330 levels again. 

Zinc –Daily Chart

Zinc: The intraday view for zinc will remain positive until prices stay above support at 118 levels. Until prices hold on to this support prices will find buying on dips to1 1 8-118.50 levels and the counter will rebound towards 119.50/120.25 levels. A daily close below 118 will see prices retrace lower towards 117/116.50 levels.

Lead: Lead prices moved higher throughout the previous session and the counter closed above its trading range yesterday. Dips from higher levels will find support between 112.50-112 zones. Reversals from these areas can be used by traders to go long in the counter. Sustenance above 113.50 will take prices higher towards 115.50/116 levels.

Nickel: Nickel prices are trading around its immediate support between 690-685 levels. Sustenance above these zones will see prices move higher towards next resistance around 705 areas. A daily close above 705 will see prices move towards 713.5017113.80 levels. Areas between 671-665 are the major support for the counter.

Aluminium: Aluminium prices continue to be range bound between 102.60-99.70 levels. A decisive breakout above 102.60 will see prices rally towards 103.401104 levels. Failure to sustain above 102.60 will see prices retrace lower towards 100.50 levels again. Traders can go long if the counter breaks above 102.60 mark.

Courtesy : Emkay Commotrade