Daily Trading Bites Commodities Report - Sep 10, 2015 : Way2Wealth

Published: Sep 10, 2015 13:16

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MCX Oct Gold; Finally some selling pressure has triggered in the counter by violating its trend-line support at 26410 levels.

By Paul Ploumis 10 Sep 2015 Last updated at 01:45:05 GMT

MCX Oct Gold; Finally some selling pressure has triggered in the counter by violating its trend-line support at 26410 levels. This signifies that the fall from 27017 is still in progress and is likely to extend the decline towards 25945 & 25820 levels.

Daily trading Bites | Commodities |

MCX Oct Gold:

Action	Entry	Target	Stop
SELL	26150	25945/25820	26277

MCX Sep Zinc:

MCX Sep Zinc was traded higher in the first half, but failed hold the gains and reversed the uptrend by forming a “hanging man” candlestick pattern on daily charts. This renders for a temporary profit booking in the counter towards 119.80 & 118.65 levels. Hence, upside resistance pegged at 121.75 levels.

Action	Entry	Target	Stop
SELL	around 121.70	119.80	122.85

Outlook & Intraday Strategy
Commodity	Expiry	S1	S2	Last Trade	R1	R2	Intraday	Recommendation
Gold	05'Oct	25945	25820	26057	26155	26277	Bearish	Sell at R1 TGT S1 SL 26277
Silver	05'Dec	34830	34370	35294	35500	36010	Bearish	Sell at R1 TGT S1 SL 36010
Copper	30'Nov	359.00	356.00	363.30	367.15	370.00	Bearish	Sell at Cmp TGT S1 SL 367.15
Nickel	30'Sep	660	649	668.00	683.0	695.00	Sideways	Wait for call
Zinc	30'Sep	119.80	118.65	121.00	121.75	122.85	Bearish	Sell at R1 TGT S1 SL 122.85
Lead	30'Sep	113.40	112.30	114.15	115.55	116.70	Bullish	Buy at S1 TGT R1 SL 112.30
Aluminum	30'Sep	106.80	105.65	108.05	109.00	110.10	Bearish	Sell at R1 TGT S1 SL 110.10
Crude Oil	21'Sep	2935	2887	2989	3033	3071	Bearish	Sell at R1 TGT S1 SL 3071
Natural Gas	25'Sep	174	171.3	176.9	178.6	181.70	Bearish	Sell at R1 TGT S1 SL 181.70

Courtesy :Way2Wealth

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Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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Daily Trading Bites Commodities Report - Sep 10, 2015 : Way2Wealth

Daily trading Bites | Commodities |

Outlook & Intraday Strategy