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

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

Industry News 01:16:15PM Sep 10, 2015 Source:SMM

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:

 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. However, any rise can be utilized to create shorts at 26150 levels.

ActionEntryTargetStop
SELL26150 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.

ActionEntryTargetStop
SELLaround 121.70 119.80 122.85

 

Outlook & Intraday Strategy

CommodityExpiryS1S2Last Trade R1R2IntradayRecommendation
Gold05'Oct2594525820260572615526277BearishSell at R1 TGT S1 SL 26277
Silver05'Dec3483034370352943550036010BearishSell at R1 TGT S1 SL 36010
Copper30'Nov359.00356.00363.30367.15370.00BearishSell at Cmp TGT S1 SL 367.15
Nickel30'Sep660649668.00683.0695.00SidewaysWait for call
Zinc30'Sep119.80118.65121.00121.75122.85BearishSell at R1 TGT S1 SL 122.85
Lead30'Sep113.40112.30114.15115.55116.70BullishBuy at S1 TGT R1 SL 112.30
Aluminum30'Sep106.80105.65108.05109.00110.10BearishSell at R1 TGT S1 SL 110.10
Crude Oil21'Sep29352887298930333071BearishSell at R1 TGT S1 SL 3071
Natural Gas 25'Sep174171.3176.9178.6181.70BearishSell at R1 TGT S1 SL 181.70

 

Courtesy :Way2Wealth


Key Words:  base metals  precious metals 

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

Industry News 01:16:15PM Sep 10, 2015 Source:SMM

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:

 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. However, any rise can be utilized to create shorts at 26150 levels.

ActionEntryTargetStop
SELL26150 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.

ActionEntryTargetStop
SELLaround 121.70 119.80 122.85

 

Outlook & Intraday Strategy

CommodityExpiryS1S2Last Trade R1R2IntradayRecommendation
Gold05'Oct2594525820260572615526277BearishSell at R1 TGT S1 SL 26277
Silver05'Dec3483034370352943550036010BearishSell at R1 TGT S1 SL 36010
Copper30'Nov359.00356.00363.30367.15370.00BearishSell at Cmp TGT S1 SL 367.15
Nickel30'Sep660649668.00683.0695.00SidewaysWait for call
Zinc30'Sep119.80118.65121.00121.75122.85BearishSell at R1 TGT S1 SL 122.85
Lead30'Sep113.40112.30114.15115.55116.70BullishBuy at S1 TGT R1 SL 112.30
Aluminum30'Sep106.80105.65108.05109.00110.10BearishSell at R1 TGT S1 SL 110.10
Crude Oil21'Sep29352887298930333071BearishSell at R1 TGT S1 SL 3071
Natural Gas 25'Sep174171.3176.9178.6181.70BearishSell at R1 TGT S1 SL 181.70

 

Courtesy :Way2Wealth


Key Words:  base metals  precious metals