commodity market up dated 7 th sep 2018

Daily  News Letter – 7th   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.      30559

From a low of last week, almost added 700 points and made a high 30700.  Over all trend is bullish and intra day dip to buy side.  Support 30400-30450 range watch out.

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	30359	29883	30129
52 Week Range - MCX	31963	29268								---
52 Week Range COMEX	1365	1161	1207	1205	1202	1281	1261	1289

Silver : Dec – 37179

It has not participated with yellow metal and higher level selling continue. We  Resistance observed on chart and supply area is 37450-37500 as long as remain below short term weakness continue.   Lower level support watch out 37000.

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	37525	36656	36701	36993	36921	38274	39090	38806
52 Week Range - MCX	42304	36423
52 Week Range COMEX	18.16	14.395	14.575	14.368	14.700	14.809	15.868	16.250

Crude Oil – Sept   4890

 After sharp move and more than 500 points rally, we advised to book profit and play short side.  Short term support broken and intra day any rise to sell side.  Higher level resistance 4923-4950.  Remember weekly support broken yesterday 4923 and sharp fall seen towards 4828.   

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	5013	4796	4959	4904	4811	4806	4695	4330
52 Week Range - MCX	4947	4097
52 Week Range COMEX	80.50	51.99	77.69	76.95	75.19	74.87	75.25	70.91

Copper ---Sept   424

Bullish trend but multiple resistance at higher level 430-435 range and support 410 watch out.  Wide range seen in last 4 trading sessions.  Lower level do not short sell.   

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	425	413	414	420	417	426	445	446
52 Week Range - MCX	499	402.55
52 Week Range COMEX	3.297	2.562	2.663	2.706	2.696	2.762	2.933	30.31

Nickel –Sept   897

Last week major support broken and finally closed below 920 mark.  Over all some bearish view and sell side on rise. Intra day rise to sell 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	956	917	922	938	938	954	969	897
52 Week Range - MCX	1066	900	--
52 Week Range COMEX	16687	10212	12815	13327	13418	13506	14242	13508

Natural Gas –Sept.  200.30

 Overall bullish with consider support 200 and resistance 207 watch out.  As remain below 205  short term weakness.  Major support 195 as long as hold, trend is bullish.

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	208	200	207	203.32	205.00	197.96	194.95	188.65
52 Week Range - MCX	209.40	185.70
52 Week Range COMEX	3.661	2.53	2.912	2.883	2.914	2.860	2.858	2.840

Aluminum –Sept.  146.15

Some reversal seen at higher level but trend is bullish and wait for decline to re enter in this commodity for target 155  to 160 range.  Major support 138-140 watch out.  Higher level intra day to sell 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	152	144	150	148.85		146.34	143.62	149.36	143.45
52 Week Range - MCX	175.25	136.50
52 Week Range COMEX	2715	1978	2120		2128	2094	281	2188	2162

ZINC -  Sept. 176.25

Trend is bearish and looks some more down side in coming days.   Resistance watch out 181-182 range and support 170  once break free fall towards 165-160 range. Higher level be cautious and weakness continue in near term.   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	181	173	178	177.30	174.97	181.14	195.49	205.17
52 Week Range - MCX	198	164.60
52 Week Range COMEX	3595	2286	2461	2499	2460	2596	2855	3055

LEAD – Sept. 147.

Over all  trading range but lower level 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	148	145	146	145.65	143.47	150.33	155.54	158.29
52 Week Range - MCX	170	137.25
52 Week Range COMEX	2685	1921	2088	2080	2047	2180	2285	239

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Happy Trading Hrs.