Monday, May 23, 2011

Commodity Tips Online


The trigger for gold's rise was the decision on Friday by ratings agency Fitch to cut Greece's debt ratings by three notches. Safe-haven bids gathered steam as doubts grew about Spanish austerity measures and Italy suffered a credit outlook downgrade. Gold ETFs saw their first daily inflow in nearly 3weeks on Friday, the biggest 1day inflow in a month. 

Now technically market is trading in the range as RSI for 18days is currently indicating 58.9, where as 50DMA is at 21722.16 and gold is trading above the same and getting support at 22197 and below could see a test of 22093 level, And resistance is now likely to be seen at 22360, a move above could see prices testing 22419.

Trading Ideas:
Gold trading range is 22093-22419.
Gold climbed after raft of unsettling news on indebted nations dented investor confidence.
Gold looks to take support at 22197 and resistance at 22360.
Spdr gold trust holdings rose by 7.58 tonnes to 1209.53 tonnes.

Silver finished flat to lower at +0.1 53331, but substantially better than most other commodities. Gold’s sister precious metal settled with a loss of $0.18, or 0.5%, at $34.90 per ounce. 

Several unnerving developments occurred in Europe over the weekend that spooked investors. S&P’s lowered its outlook on Italy’s credit rating, Spain’s ruling Socialist political party suffered its worst-ever defeat in regional elections, and government bond yields on Greek debt spiked to fresh all-time highs. The concerns pressured the euro currency, which dipped below 1.40 against the U.S. dollar. The stronger dollar provided a headwind for cyclical commodities and pressurized base metal and crude. 

In silver ETFS, holdings fell by more than 10 million ounces last week to a new low for the year. Now technically market is trading in the range as RSI for 18days is currently indicating 40.43, where as 50DMA is at 59966.54 and silver is trading below the same and getting support at 52717 and below could see a test of 52102 level, And resistance is now likely to be seen at 53790, a move above could see prices testing 54248.

Trading Ideas:
Silver trading range is 52102-54248.
Silver finished flat to lower at +0.1  but substantially better than most other commodities
Silver is having resistance at 53790 and support at 52717 level.
Holdings at ishares silver trust fell by 15.17 tonnes to 10136.99 tonnes

Wednesday, May 11, 2011

Commodity Market Tips Free


Natural gas futures dropped for the seventh time in eight days settled -0.05% down at 189.5 on speculation that rising production will bring inventories to a record by the fall. Gas slipped as much as 2.2% after stockpiles expected to climb to 3.9 trillion cubic feet by the end of October, surpassing the previous pre-winter record of 3.84 trillion. 

Gas futures also dropped in sympathy with crude oil, which fell as much as 5.4% after an Energy Department report showed that U.S. crude supplies rose to the highest level in two years. U.S. natural-gas stockpiles probably rose less than the seasonal average last week as nuclear power-plant shutdowns increased demand for gas as a replacement fuel. 

Inventories rose 71 bcf to 1.828 trillion in the week ended May 6. The 5-year average stockpile change for the week is an increase of 90 billion, according to Energy Department data. Supplies climbed 93bcf a year earlier. For today's session market is looking to take support at 186.2, a break below could see a test of 183 and where as resistance is now likely to be seen at 192.7, a move above could see prices testing 196.

Trading Ideas:
Natural Gas trading range is 183-196.
Natural gas dropped on speculation that rising production will bring inventories to a record by the fall.
Natural gas looks to test support at 186.20 and resistance is seen at 192.70.
Today natural gas storage: EXP: 69B PREV: 72B 

Aluminium yesterday traded with the negative node and settled -2.11% down at 115.85  after China’s consumer price index (CPI) in April rose by 5.3% on a yearly basis, a signal of severe inflation, and triggering investor concerns over China’s economic growth. The European debt crisis escalated due to Greece debt crisis, and the euro weakened in response, with upward momentum expected to be limited in the short term. The rising demand for risk-averse boosted the US dollar index to above 75. 

LME aluminum prices opened higher but moved lower. Stronger US dollar and lower crude oil prices depressed market confidence in European trading hours, and LME aluminum prices accelerated declines following other base metals prices, with prices finally closing at USD 2,591.3/mt, down USD 61.8/mt or 2.33%. For today's session market is looking to take support at 114.8, a break below could see a test of 113.7 and where as resistance is now likely to be seen at 117.9, a move above could see prices testing 120.

Trading Ideas:
Aluminium trading range is 113.7-120.
Aluminium ended weak as stronger US dollar and lower crude oil prices depressed market confidence
Aluminium is taking resistance at 117.90 and support is seen at 114.80.
Aluminium daily stocks at Shanghai exchange came up by 2010 tonnes.

Thursday, May 5, 2011

Commodity Market Tips


SILVER TIPS : Star performance but time to exit long and sell side.....We are bearish and buying call below 73000.......

Yesterday we have given a sell call below 59006 and target 55000 and almost tested a low of 54800 level.
Now today........resistance 57500-57800 range, down side crucial support 54745 and break and trade below another round of selling. Will it test 40000-36000 again, time will tell. But certainly no buy......no bottom finishing. 

In Comex : All time high 49.8. Close watch 100 DMA support 34... break and trade below immediate target 29 an ounce. 

LEAD TIPS  (MAY) :Over all trend is bullish . Down side support is 110 watch out as hold this level, bull move continue. 

Today resistance 106.50, down side below 103.50 further selling likely. 

NICKEL TIPS (MAY) : Finally broken yesterday crucial level 1153 and started down ward journey. Now today....resistance 1140-1150 range, break and trade below 1100, big sell of likely... Today crucial level 1105 below further sell off. 

COPPER TIPS (JUNE) :Sell on rise strategy... Last it was made a high 439 and low 412....... In this week it will face resistance 423-425 remain below weakness continue in this counter.
Now today.... Resistance 409-410.... Trade and sustained below 400 immediate target 391 thereafter more selling pressure. 

ALUMINIUM TIPS (MAY) : Bullish break out..........Hold 123 with volume decent move can not be ruled.
Today resistance 120 and reversal to sell side...

NATURAL GAS TIPS (MAY) :Consider major support 200-205 range hold this level target 220.
Unable to cross 210 and started down ward journey.......today support 190..and resistance 201 watch out. 

CRUDE OIL TIPS (MAY) :Short term trend is down and sell on rise strategy. Today crucial level 4851...