Wednesday, September 26, 2018

Daily News Letter – 26th September – 2018 Commodity Market


Gold  : Oct.      30800
Bullish trend and almost from the lower level, it has been completed its up move and time for consolidation and profit taking likely. Overall consider support 30500-30600  and any weakness to buy side, once stay above 31000  it will show real move.


Silver : Dec –  38277
Trading range continue and higher level some profit booking see.  Over all trading range have been formed at 37000 to 38000 between these line time for consolidation and once sustained above 38000  it will show real strength, any weakness to buy side.


Crude Oil – Sept    5266
 On Friday heavy buying seen along with decent volume an d able to closed above 5100 mark. However, Brent crude oil unable to cross their resistance level 80 dollar which is a strong resistance.   Now time to book profit at current level and re enter again at lower level.


Copper ---Sept   460
We are bullish above 425 and our target 450 + have been achieved, now consider resistance 465-466   and major up move only above that level……………


Nickel –Sept   937
After recovery  again selling pressure seen in market and finally closed at 930.  Now consider resistance 945-950 watch out.   Lower level to buy side.


Natural Gas –Sept.  223  
 As we were continue writing a bullish and any decline to good opportunity to long side. Trend is bullish with consider support 205-200 range and up side open towards 225. Trading above 50-100-200 DMA strong bullish signals.  Buy and Buy


Aluminum –Sept.  149
Some recovery seen from a lower level and almost made a low last week 144 mark.  Now higher level resistance and supply zone is 150-152 range once successfully stay above, it will move like rocket. Above 152   any short will be danger.


ZINC -  Sept.  184
Very bullish trend  with consider support 177-180 range and decline to buy side, upperside target 193-200-203 likely as hold support level.


LEAD – Sept. 147.50
Smart recovery from a lower level and almost good bounce back seen.  With consider support 145 and resistance 152 watch out in near term.


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