Daily News Letter – 8 th Oct 2018 Commodity Market

Gold  : Oct. 31645

 AS prices in gold comex would face major resistance at 1207$(approx) and in Indian market we would face resistance at 31800-31850 once we would cross this levels we could see much higher levels, below that we could expect consolidation or correction

Silver : Dec –  39271

Last two weeks after made a low 36000 almost gained more than 3000 points and made a high 39360.  Over all trend is bullish and intra day decline to buy side.

Crude Oil – Sept    5542

 Crude Mcx was in bull run from last almost 70 days and as we are facing resistance at the range from 5650-5700 and the exception is towards the lower side as we could see the rising WEDGE pattern in STOCHASTICS ,As a result of rising wedge we could see a fall in crude prices in near future and on the other side if it crosses the range of 5700 decisively and on closing basis there could be fresh bull run.

Copper ---Sept   456

 Copper Mcx- As comex copper is showing that the prices for copper should move towards lower side and it is expected that the movement  in copper mcx would also be similar. And 470 would act as a major resistance for Mcx Copper. 

Nickel –Sept  940

Over all trend is bearish with consider support 900-8880 range and upper side resistance 865-870, once stay above real blast on card.

Natural Gas –Sept.  233

 As we were continue writing a bullish and any decline to good buy side.  We are bullish above 200 mark and any decline to buy side. Trading above 50-100-200 DMA only bullish view.  Up move continue.  Now time to book profit at home is a best strategy.

Aluminum –Sept.  157.20

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.  Very hot and see what happened and in a one trading session made a high 166. Avoid fresh trade and book profit

ZINC -  Sept.  198

Bullish trend continue with consider support 190 once break first sign of weakness, higher level resistance 200-205 watch out and stay above do not think any short sell.

LEAD – Sept.  148

Overall trading range and time for  consolidation side. Wait for break out in either side.  Ready for big blast  at any time.  Above 152 it will show real power and think to buy above only.

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