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Home / Metal News / Daily Trading Bites Commodities Report - Sep 08, 2015 : Way2Wealth

Daily Trading Bites Commodities Report - Sep 08, 2015 : Way2Wealth

iconSep 8, 2015 14:54
Source:SMM
MCX Sep Nickel; “bearish H & S” has developed on intraday charts and the neck-line breakdown of the same took place at 655 levels.

By   08 Sep 2015  Last updated at  03:15:26 GMT

Daily trading Bites | Commodities |

MCX Sep Crude oil

 MCX Sep Crude oil; selling pressure has triggered in the counter by erasing its last three days gains. A weak close followed by a “spinning top” on daily charts renders that the fall from 3260 remains intact and further fall can be possible towards 2977 & 2934 levels, where as a resistance resides at 3013 levels.

ActionEntryTargetStop
SELLAround 30132934/28603061

MCX Sep Nickel

 MCX Sep Nickel; “bearish H & S” has developed on intraday charts and the neck-line breakdown of the same took place at 655 levels. Overall outlook remains weak and is likely to extend the fall towards 641 & 628 levels, which is an equality target of the chart pattern.

ActionEntryTargetStop
SELLaround 655641/628669

 

Outlook & Intraday Strategy

CommodityExpiryS1S2Last Trade R1R2IntradayRecommendation
Gold05'Oct2538026233265002657526710BearishSell at R1 TGT S1 SL 26710
Silver05'Dec3456034020351933550035933BearishSell at R1 TGT S1 SL 35933
Copper30'Nov349.00346.00351.35354.00357.00SidewaysWait for call
Nickel30'Sep641628652.60655.0669.00BearishSell at R1 TGT S2 SL 669
Zinc30'Sep117.55116.40118.70119.30120.45BearishSell at R1 TGT S1 SL 120.45
Lead30'Sep111.00109.80111.90112.65113.50BearishSell at Cmp TGT S1 SL 112.65
Aluminum30'Sep105.50104.30106.75107.20108.35BearishSell at R1 TGT S1 SL 108.35
Crude Oil21'Sep28962846294829793023BearishSell at R1 TGT S1 SL 3023
Natural Gas25'Sep175.3172.4177.9180.0182.70BearishSell at R1 TGT S1 SL 182.70

 

Courtesy :Way2Wealth

WAY2WEALTH Brokers Private Ltd., CIN U67120KA2000PTC027628 - Email: research@way2wealth.com website: www.way2wealth.com No. 14, Frontline Granduer, Walton Road, Bangalore-560001 Way2wealth Research is also available on Bloomberg WTWL


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For queries, please contact Michael Jiang at michaeljiang@smm.cn

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