Daily Trading Bites Commodities Report - Sep 07, 2015-Shanghai Metals Market

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Daily Trading Bites Commodities Report - Sep 07, 2015

Industry News 05:20:21PM Sep 07, 2015 Source:SMM

By  Paul Ploumis 07 Sep 2015  Last updated at 03:18:55 GMT

MCX Dec Silver futures ended in a nominal negative zone in the past session by forming a “spinning top” candlestick pattern on daily charts, which is a bearish sign for next session.

Daily trading Bites | Commodities |

MCX Dec Silver

 MCX Dec Silver futures ended in a nominal negative zone in the past session by forming a “spinning top” candlestick pattern on daily charts, which is a bearish sign for next session. Now, 35120 levels will act as key supports on downside, turned below the same in a convincing manner will intact further weakness towards 34700 & 34310 levels.

ActionEntryTargetStop
SELLBelow 3512034700/3431035590

MCX Nov Copper

MCX Nov Copper was reversed the uptrend by forming a “bearish harami” candlestick pattern daily charts. Currently prices are hovering near trend-line support at 345.80 levels, on a convincing close below the same will intact further downtrend towards 342 & 338 levels.

ActionEntryTargetStop
SELLBelow 345.8342/338349

 

Outlook & Intraday Strategy

CommodityExpiryS1S2Last Trade R1R2IntradayRecommendation
Gold05'Oct2538026233265322662026745BearishSell at R1 TGT S1 SL 26745
Silver05'Dec3470034310353883559035933BearishSell below 35120 TGT S2 SL 35590
Copper30'Nov345.80342.00347.50349.00352.00BearishBearish below 345.80 levels.
Nickel30'Sep651638662.10670.0682.00SidewaysWait for call
Zinc30'Sep118.55117.40119.60120.40121.65BearishSell at R1 TGT S1 SL 112.65
Lead30'Sep110.00108.70111.30112.00113.35BearishSell at R1 TGT S1 SL 113.35
Aluminum30'Sep106.30105.20107.40108.00109.10BearishSell at R1 TGT S1 SL 109.10
Crude Oil21'Sep30663023311031673219SidewaysWait for call
Natural Gas25'Sep175.6172.0178.4182.0185.00SidewaysWait for call

 

Courtesy :Way2Wealth


Key Words:  base metal  base metals prices 

Daily Trading Bites Commodities Report - Sep 07, 2015

Industry News 05:20:21PM Sep 07, 2015 Source:SMM

By  Paul Ploumis 07 Sep 2015  Last updated at 03:18:55 GMT

MCX Dec Silver futures ended in a nominal negative zone in the past session by forming a “spinning top” candlestick pattern on daily charts, which is a bearish sign for next session.

Daily trading Bites | Commodities |

MCX Dec Silver

 MCX Dec Silver futures ended in a nominal negative zone in the past session by forming a “spinning top” candlestick pattern on daily charts, which is a bearish sign for next session. Now, 35120 levels will act as key supports on downside, turned below the same in a convincing manner will intact further weakness towards 34700 & 34310 levels.

ActionEntryTargetStop
SELLBelow 3512034700/3431035590

MCX Nov Copper

MCX Nov Copper was reversed the uptrend by forming a “bearish harami” candlestick pattern daily charts. Currently prices are hovering near trend-line support at 345.80 levels, on a convincing close below the same will intact further downtrend towards 342 & 338 levels.

ActionEntryTargetStop
SELLBelow 345.8342/338349

 

Outlook & Intraday Strategy

CommodityExpiryS1S2Last Trade R1R2IntradayRecommendation
Gold05'Oct2538026233265322662026745BearishSell at R1 TGT S1 SL 26745
Silver05'Dec3470034310353883559035933BearishSell below 35120 TGT S2 SL 35590
Copper30'Nov345.80342.00347.50349.00352.00BearishBearish below 345.80 levels.
Nickel30'Sep651638662.10670.0682.00SidewaysWait for call
Zinc30'Sep118.55117.40119.60120.40121.65BearishSell at R1 TGT S1 SL 112.65
Lead30'Sep110.00108.70111.30112.00113.35BearishSell at R1 TGT S1 SL 113.35
Aluminum30'Sep106.30105.20107.40108.00109.10BearishSell at R1 TGT S1 SL 109.10
Crude Oil21'Sep30663023311031673219SidewaysWait for call
Natural Gas25'Sep175.6172.0178.4182.0185.00SidewaysWait for call

 

Courtesy :Way2Wealth


Key Words:  base metal  base metals prices