Daily News Letter – 10th August – 2018 Commodity Market

Gold  : Oct.      29661

   Over sold counter and already made a low 29400 till not break and closed below do not think any weakness in this commodity.   Last week reversal seen from the low of 1200 $ in Comex which is equivalent to 29400 + in  Comex. Down side major support 29000-29200 and till not break trade with positive bias. Resistance 30000 and 30200, once stay above trend will be change.    Over all looks good with consider support 29450-29500, decline to buy side.

Some Technical Indicators :

Last Week	High	Low	Close	50 DMA	200 DMA
	-	-	-	30452	30178
52 week			--	---	---

Silver : Sept – 38115

 Overall small trading range and there is no major  trading levels are visible, however, last week are time being support 37700 to 37500 range watch out  Higher level it will show strength above 38200 towards 38600.   Avoid short sell and any time big rally also possible. No view change.   Time for consolidation.   Intra day resistance 38200  and support 37500-37600 watch out  lower level to buy side.

Some Technical Indicators :

Last Week	High	Low	Close	50 DMA	200 DMA
	38437	37736	38072	39538	39025
52 week			-	-	-

Crude Oil -- Ausut -4604

 Over all bullish trend and any sharp dip to decent opportunity to long side.  As big IPO of Saurdia Arab likely in the month of November – December 2018 so we do not think any major break down in near term.   A lot of funds are also in buying mode.  Major support 4200-4250 as long as holding bulls move are intact  and up side open towards 5000-5200 mark likely in coming day.   Heavy selling seen on yesterday due to fear of USA-China Trade war .  Over all trend is bullish and likely come back again, but intraday traders can sell  4620-4630 level with stop loss  4670 target 4500  and below.    Panic to buy side.

Some Technical Indicators:

Last Week	High	Low	Close	50 DMA	200 DMA
	4842	4592	4686	4703	4216
52 week			-	-	-

Copper ---August  -421

Over all trend is side ways, however, last few its holding support level 410. So short term trend is side ways and over sold market from the high, so at current level do not think any big sell off as well as prices are in international market also established.  So we do not think any major crack in near term.  Over all trading range nearly 410 to 425.  Buy on support level and sell on resistance level.  Time for consolidation continue.  Any Toda  intraday selling opportunity resistance at 425-426 stop loss 431  target 420 415

Some Technical Indicators:

Last Week	High	Low	Close	50 DMA	200 DMA
	431	412	419
52 week			-	-	-

Nickel –August-953

As last week short below 965 and our first target 900 almost achieved and the same was weekly low also.  However, on Friday after made a low 900  good recovery seen and finally it was closed at 926 which decent volume and added open interest.   Over all resistance cone at higher level i.e. 950 to 965 watch out and reversal to sell side.  However, lower level some support seen with volume.  Closely watch resistance level, once crossover sharp  move towards 1000.   Think  to buy above 965 above.   It looks that strong support at lower level so we may consider decent support 880-900 range in near term.  As long as hold any dip to buy side , higher level once trade above 965   up side open towards 985-1000, thereafter major up side towards 1100 likely.     Lower level to buy side……

Some Technical Indicators :

Last Week	High	Low	Close	50 DMA	200 DMA
	960	900	925	986	882
52 week			-	-	-

Natural Gas 26^th  August –203

  As last week, made a multiple support 187 188 and bounce back seen and finally it was able to closed above 195 which indicate some buying emerged at lower level.  So short term support established 190 and far support 187.  At current level any dip to buy side o intra day basis only.  Major break through above 198. We are bullish and dip to buy side.  Your stop loss 198  on closing basis.   No View Change.

Some Technical Indicators:

Last Week	High	Low	Close	50 DMA	200 DMA
	196.70	188.40	196.50	196	188
52 week			-	-	-

                                  

Aluminum August-142.30

From a few weeks, selling pressure continue seen at 144-145 level and finally it has broken support level 140 and major support still hold 137 and likely break down in due course.  So at current level any rise to sell side or once break 137 good opportunity to sell for target 130 and below in near term.   Some support at lower level, intra day good support 142-143 range and decline to buy side Resistance 147-149 range.     Yesterday reversal seem resistance level  147  with excellent volume.  Today rise to sel side, resistance 145 + .

Some Technical Indicators :

Last Week	High	Low	Close	50 DMA	200 DMA
	142.30	138.55	138.75	147.20	143
52 week			-	-	-

ZINC -  August -180

Over all small trading range of few week which is evident 170 to 185 range and for swing trading good opportunity to resistance level and buy side around support level.   Any major up trend only break out this range in either side.  Till then make money in small trading range with stop loss.

7 points of last week and no major trade pattern on chart.  However, higher level resistance continue 184-185 zone and at lower level support nearly  175, break this level some weakness towards 170, thereafter major weakness. Intraday any rise to sell side  Do not buy please.   

Now intra day consider support 178 + to buy side with minor stop loss 175 target 181 183 185.   Higher level major resistance and supply continue.    Yesterday strong reversal seen at 185 and finally made a low 179.    Rise to sell side.

Some Technical Indicators :

Last Week	High	Low	Close	50 DMA	200 DMA
	182.10	174.40	180.65	195.10	208
52 week			-	-	-

LEAD – August –144.80

Over all small trading range and last week there is no call initiated.  However, we may consider resistance around 150-151 range.   Higher level to sell side. Break down   Big fall on card in coming days. Sell on rise strategy.

Some Technical Indicators:

Last Week

High

Low

Close

50 DMA

200 DMA

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