Wednesday, July 4, 2018

COMMODITY UP DATED : 4TH July 2018

COMMODITY UP DATED :  4TH July 2018
Gold  : August (30493)-
Trading range continue, however, strength in dollar weakness continue but decent support range nearly 30000 and resistance 30600, crossover and sustained above looking   up side.  Wait for clear direction time being thereafter decide your trading strategy.
Silver : Sept -39710
Lower level some support seen with consider trading range 39000 to 40000   and once crossover resistance strong up side can not be ruled out in near term. Buy on dip with tight stop loss.  We are long in this commodity.
Crude Oil 19th July 5080
We are bullish above 4600  and our first target 5000 have been achieved, however, trading above 4 years high looks major momentum in this commodity and more up side left in coming days.  Intra day any dip to buy side with consider long support range 4700-4750 and as long as these level up side open towards 5500 mark.
Copper August   445.75
Short term support have been broken and trading below 7 months low so any rise to sell side.   Consider resistance 450-453 and remain below any rise to sell side.
Nickel July 984.50
Looks bearish and break down long trading range and  closed below with added open interest. Resistance 1000-1010 range and major break down on the card in coming days.  Only sell side. No buy please.
Natural Gas 26th July 198.40
Hot sell and break down support level, consider resistance near 201-202 range and remain below to sell side.
Aluminum July  144.20
Yesterday major support broken  145 and made a low 143.50. Wait for more confirmation before any  trading call.

ZINC July  192.85
We are bearish below 200  and our first target 191  + almost achieved but remain sell side, more down side in coming days with stop loss.
LEAD July 164.35
Small trading range but positive bias likely continue. Resistance observed at 166 and decisively break looks more up side.

Happy Trading Hrs.
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3M TEAM Research
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1 comment:

  1. Saudi Aramco plans to change Asia crude oil price formula, adopt DME Oman - sources.
    Capitalstars

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