COMMODITY UP DATED : 5H July 2018
Gold : August (30614)-
Trading range continue, however, strength in dollar weakness continue but decent support range nearly 30000 and resistance 30600, further trading above 30600 some more up side towards 30800-30900 and above. Lower level to buy side.
Silver : Sept -39919
Lower level some support seen with consider trading range 39000 to 40000 and once crossover resistance strong up side cannot be ruled out in near term. Buy on dip with tight stop loss. As our first target have been achieved, now sustained above 40000, it will show real power and buy side and big move can not be ruled out.
Crude Oil 19th July 5126
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. Our target intact.
Copper August 437.85
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. We are in selling mode below 450 and made a low 434 once break more down side.
Nickel July 970
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. Break down support level and sell side.
Natural Gas 26th July 196.20
Hot sell and break down support level, consider resistance near 201-202 range and remain below to sell side. Lower level likely test 190.
Aluminum July 144.70
Yesterday major support broken 145 and made a low 143.50. Wait for more confirmation before any trading call. Support broken to sell side.
ZINC July 187.80
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. More down side and made a low 186.55.
LEAD July 160.55
Break down in trading range looks more down side with consider resistance 163 164 range, break down 160 more panic likely in this commodity.
Happy Trading Hrs.
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