commodity market up dated 11th sepembe 2018

Daily  News Letter – 11th   September – 2018 Commodity Market

Golden Rules for Traders :

1.    Never  added to a losing trade.

2.    Never lose more than 1 % to 2% of your trading capital on any one trade.

3.    Never trade anything you do not understand 100%.

4.    Trade in the direction of the trend in your trading time frame.

5.    Only look for low risk/high reward trades or high probability set up . When you do not have any signals, do not trade.

6.    Trade your plan, your system, your signals, the chart and price, action  and not your opinions, bias or predictions.

7.    Find a trading methodology that fits your personality.

8.    Do not trade before you have a complete trading plan, including rules on entries, exits and risk management.

9.    The size of your wins and losses determines your trading success.

10. Your risk management rules will determine the success of your technical trading system.

Gold  : Oct.      30725

Over all trend is turned  bullish of this commodity and trading above 50-100-200 DMA indicate positive bias and any decline to buy side.  Holding above 30400   up side move towards 31000 and above.,

Some Technical Indicators :

R A N G E	High	Low	Close	5 DMA	10 DMA	50 DMA	100 DMA	200 DMA
Last Week Range - MCX	30700	30070	30494	30372	30237	29966	30512	30230
52 Week Range - MCX	31963	29268								---
52 Week Range COMEX	1365	1161	1202	1198	1201	1215	1254	1282

Silver : Dec – 37505

Short term trend have been change and trading above  37000-37100  over all positive bias and any decline to buy side, trading above 37600 more up side towards 38000 and above.,

Some Technical Indicators :

R A N G E	High	Low	Close	5 DMA	10 DMA	50 DMA	100 DMA	200 DMA
Last Week Range - MCX	37555	36000	37167	36787	36890	38000	38946	38738
52 Week Range - MCX	42304	36423
52 Week Range COMEX	17.953	13.96	14.215	14.196	14.392	15.073	15.727	16.164

Crude Oil – Sept   4916

 After  test of 5114 some profit booking seen and finally it was made a low 4800.  Over all trend is bullish and trading above 200-100 DMA are indicate any dip to buy side and there is no short call except intra day basis.  Now we may consider support 4700  + and resistance 5100 and above.  Decline to buy side on intra day.   Short sell only for professional traders.

Some Technical Indicators:

R A N G E	High	Low	Close	5 DMA	10 DMA	50 DMA	100 DMA	200 DMA
Last Week Range - MCX	5114	4808	4883	4945	4924	4816	4721	4360
52 Week Range - MCX	4947	4097
52 Week Range COMEX	80.50	53.04	77.03	77.42	77.16	74.69	75.47	71.26

Copper ---Sept   427

Over all we have seen a trading zone from a low of 400 to high 430 range and likely some more trading sessions it will move this range.  Till not cross do not expect any move in either side.  Now we may consider resistance 428-430 range and support at lower level 415-410 whereas a good opportunity to buy side.    Looks ready to test 440 and above. Above 426  very hot and buy side.

Some Technical Indicators:

R A N G E	High	Low	Close	5 DMA	10 DMA	50 DMA	100 DMA	200 DMA
Last Week Range - MCX	429.40	414.30	422.60	421	421	423	443	446
52 Week Range - MCX	499	402.55
52 Week Range COMEX	3.297	2.562	2.619	2.614	2.652	2.722	2.902	3.020

Nickel –Sept   902

After tested  888 some support seen at lower level, now time being consider 880 and till not break avoid any fresh short sell, upper side trading and sustained above 900 mark some positive bias also possible.  Fresh sell only below once break 880.

Some Technical Indicators:

R A N G E	High	Low	Close	5 DMA	10 DMA	50 DMA	100 DMA	200 DMA
Last Week Range - MCX	914	980	888.70	897	917	942	966	901
52 Week Range - MCX	1066	900	--
52 Week Range COMEX	16687	10212	12332	12511	12919	13633	14167	13530

Natural Gas –Sept.  204.50

 Overall trading ranger and almost break down support level 205-206 mark so some more selling pressure likely in near term.  Consider support 195  + and decline up to buy side with stop loss 190 mark for target 210 and above.   Decline to buy side.

Some Technical Indicators:

R A N G E	High	Low	Close	5 DMA	10 DMA	50 DMA	100 DMA	200 DMA
Last Week Range - MCX	206.20	198.70	200.70	201.70	202.51	198	196	189
52 Week Range - MCX	209.40	185.70
52 Week Range COMEX	3.61	2.53	2.776	2.806	2.847	2.847	2.862	2.835

Aluminum –Sept.  149.70

Reversal seen from a higher level and we may consider resistance 149-150 range and till not cross and trade above, do not think any positive bias.  Lower level support are 145 watch out and below more down side. Ready for big move and buy side.  Sustained above 151-152  very hot and non stop target 158-160 mark.

  

Some Technical Indicators :

R A N G E	High	Low	Close		5 DMA	10 DMA	50 DMA	100 DMA	200 DMA
Last Week Range - MCX	150.40	145.30	147.20	147.20		148	143.40	148.70	143.70
52 Week Range - MCX	175.25	136.50
52 Week Range COMEX	2715	1978	2060		2065	2097	2072	2175	2161

ZINC -  Sept. 172.60

Trend is bearish and major down side in coming days, so any rise to good opportunity to sell side. Consider resistance 179-180 range down side last and final support 170, once break down with volume and open interest, free fall on card. Trend Reversal above 185.

Some Technical Indicators :

R A N G E	High	Low	Close	5 DMA	10 DMA	50 DMA	100 DMA	200 DMA
Last Week Range - MCX	178.85	172.70	175.85	174.90	176	178.60	194	204.30
52 Week Range - MCX	198	164.60
52 Week Range COMEX	3595	2285	2404	2426	2462	2550	2819	3070

LEAD – Sept. 146.60

Over all  trading range and higher level resistance continue towards 151-152, once taken out successfully think only positive bias of in this commodity. Reversal seen at higher level.

Some Technical Indicators:

R A N G E	High	Low	Close	5 DMA	10 DMA	50 DMA	100 DMA	200 DMA
Last Week Range - MCX	151.65	145.60	148.25	148.15	147	148.70	155.20	158
52 Week Range - MCX	170	137.25
52 Week Range COMEX	2674	1922	2060	2070	2075	2176	2270	2382

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