Free Advice....

Buy Gold above 26390 on rize SL below 26270 TGT 26800, 26900, 27300

Commodity View 24 Nov 2014

As I was busy during week end I could not update detailed analysis...but following is general view....if any one have any queries , please call.....

Gold : Watch 26350-26270 levels, If broken Gold may retrace further down below 26270 to 26196.....if break 26190 then TGT 25980-25950 levels .....Can expect bounce back from these levels to continue till 26600+ levels....if break 26850 level on daily/weekly closing basis then TGT 27300+ and  long term TGT near 32000 levels is possible....

Keep buy on dips view in Gold.....

Silver : Silver may retrace down till 35615-35500 levels.....we can expect bounce back from these levels....If broken 36660 on daily/weekly closing basis then TGT 38290-38246 and  long term TGT near 48000-50000 is possible....

Above 35500 levels....Keep buy on dips view in Silver.....

Aluminium : Keep long positions....buy on dips for TGT near 129+

Lead : Keep long positions....buy on dips for TGT near 128.50+

Zinc: Keep long positions....buy on dips for TGT 143-145

Nickel : Keep long positions above 980 .....buy on dips for TGT 1140-1147

Copper : Above 409 keep long view ...buy on dips and expect breakout on daily closing basis above 416 for TGT 424+

Crude: Buy near 4650-4680 .....buy on dips for much higher TGTs

NG : Buy between 252-254...or above 254 keep buy on dips view for TGT near 301.....Keep long positions with SL below 250

TODAY'S CALL

bUY BASE METALS ON DIPS

Todays call - Sell Base metals

Technical View - 17 Nov 2014

MORE UPDATES COMING UP -......Looking at base metals moment last week.....it is possible either side moments.....Traders should watch for last week high and low in base metals.....and trade only at breakout of these levels in these commodities.....WE MAY SEE BEARISH MOMENTUM IN BASE METALS....but still we may see bounce back at some levels.....so keep booking profit at support levels mentioned below.........

GOLD and SILVER can retrace for some time and then continue upside rally for next week......SL and TGT ??

Aluminium Technical View - 17 Nov 2014

Above is Aluminium weekly chart

Aluminium has formed cup and handle pattern, but failed to break its top at 129....last week it has formed negative candle and previous week negative dojji candle....

Now since it has failed to break 129 and surviving below it.....stay short below 129 with SL above 129 and expect TGT near between 121-122 level....we might see bounce back from these levels.......if break 121 then next TGT near 119,118,116....break below 116 can confirm trend reversal.....

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Lead Technical View - 17 Nov 2014

Above is Lead weekly chart

Long term trend in lead is negative......

Lead has broken the white trend line and trading above it.....but in previous weeks it has formed bearish 3 black crows candle pattern which it has failed to break in last 3 weeks.....and surviving below 126....which is major resistance....this is a negative indication for lead and down trend may continue....but has major support at near 120.30 level...we may see bounce back from these levels....

Now watch 126-127 zone.....If it is trading below it with SL 127 then stay on sell side for TGT near 124,122.70....we may see bounce back... and if it break 122.70 then watch for break out below 120......break below 120 can take lead to 112,98,85 and much down....keep booking partial profits at 124,122.70,120.50 level....

If this negative pattern fail then watch for break above 127 for much higher TGT near 150+ levels in long term.....

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Zinc Technical View - 17 Nov 2014

Above is Zinc Weekly chart

Zinc is trading below its white trend line .....Zinc is also forming a descending triangle pattern which is Negative signal and possibly down trend indication.....also last 2 weeks has formed bearish harami candle pattern......previous weeks also showing negative indication but this bearish harami pattern has confirmed the bearish move.....

Now sell on rise below 144 and watch for break below 137 for targets 134,133 ..we may see bounce back ....but break below 133 can take zinc to 130.50 .....watch 130.50 ....we may see bounce back ....if not break below 130.50 can eventually show lower levels than 101 in long term....

But if this bearish pattern fail and break above 144-147 zone, then Zinc can go to 150, 160+ levels.....

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Nickel Technical View - 17 Nov 2014

Above is nickel weekly chart

Nickel is surviving below its trend line resistance at 968-971 levels....

Watch break out above 972 ......for much higher TGT.....

Below 972 with SL above 972 stay short we might see break down for TGT near 885-882.5 levels and we may see bounce back at this level......if break 882 on weekly closing basis then much below till 850 minus


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Copper Technical View - 17 Nov 2014

Above is Copper weekly chart....following is longggg term view on copper...

Copper has bounced back from its inner channel support (Yellow lines) and trading near trend line resistance (white line) at 418 level now ....

Please note Copper is trading in its upper zone of Green Channel and long term trend is Up trend....Also copper is sustaining above its inner channel ( yellow channel).....It is also trading in a triangle pattern ( Yellow base line and white trend line) ....It is also surviving above 23% Fibbo level of previous swing High of 512.65 and Low 366.35....

Now for next week onwards 407 is trend line support....watch for 420-422 zone as breakout zone.....(SL below 407 on weekly closing basis)....Once this zone is broken copper can retest 438-439 levels....break above it can take copper to 456,481 levels....break above 481 can confirm the up trend continuation and we can see 512, 552 and 603 levels.....

But break below 407 on weekly closing basis can take copper to 401, 385.10, 366.40 levels...and if break 365 then we can see deep down moments......

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Crude Technical View - 17 Nov 2014

 Above is Crude weekly chart....Please note : Long term trend in Crude is Up Trend....BUY CRUDE ABOVE 4685

Crude is trading in support zone at 4770-4448 (red area) ....
Crude is trading near its trend line (Yellow line) support at 4600 level.......RSI(2) is in oversold area and MACD is showing positive divergence.....but MACD in monthly,weekly and daily chart is below zero.....

Now crude has tested its resistance at 4521 .(this is 62%) level of privous swing....level and bounced back.....it has touched this level after privious high at 7800+ levels....(this is 127%) level of privous swing....If we assume that long term up trend is still intact then this is a possible level of reversal of retracemet.....

Now watch 4440 level....If crude survives above this for next few weeks then we may see reversal and next longgggg term TGT 9200+ levels ....in between watchout for breakout at 5300, 6300 and 7600....there are strong indications of reversals....RSI is in oversold, MACD showing divergence ......

But if 4400 level is broken and sustained then possible TGT on down side 3980, 3420, 2735.....
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Natural Gas Technical View - 17 Nov 2014

Above is Natural Gas Weekly Chart......Following is LONGGGG TERM VIEW for investors....

NG has tested its trend line resistance at 276 and dropped back to test its channel support at 244 and bounced back again above white channel support. It has closed above this support too....

Please watch Fibbo levels of previous High 591.8 and low 101.....

NG has bounced back from 101 level to its 38.2% (288) level and from there till 23.6% (217).....

Watch out for 238 level as crucial support. Till it is above 238 with SL 238 maintain buy positions....If it breaks its trend line support (green line) then next TGT 285-288-291 levels.....If sustain above 291 on weekly closing basis then next TGT levels near 301,317, 346, 404, 486 levels...above 486 watchout for 533 and 592 level.....above 592 it may see new highs ........

But if it breaks 238 level then it may go till 230,217 levels and weekly closing below 216 will take NG to 198,183, 164 levels....if it trades below 163 level for 1 week then NG will fall deep down and confirm the down trend is continuing......

Today's Call - Buy Base Metals.....

Buy Silver near 33800 SL ??? TGT ???

Silver - Below 34600 - 1st TGT 34434

Gold-Silver - Intraday 13 Nov 2014

Gold 1 Hr Chart

 

Above is Gold 1 Hr Chart

As long as Gold is trading above 25650 ( SL below 25650) keep buy position.... for TGT 26000, 26190, 26400.....Trail SL to previous level once each TGT is achieved....

Below 25650 Gold can test 25510, 25433, 25305, 25168.....Below 25168....Gold can fall deep down...

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Silver Hourly Chart....

Above is Silver 1 Hr chart....


As long as Silver is above 34600 silver is positive....

Look at the TGTs 35100, 35750, 36090, 36648+ levels....
Once each TGT is achieved please trail your SL to previous level....At the moment maintain strict SL at 34500....

Below 34500 Siver can go to 34405, 34290.....below 34290 Silver will fall deep down....

Crude - NG

Crude :  Sell On rise in crude....Maintain Selling Positions

NG : Below 253 can test 248-244 zone....Buy in 244-248 Zone....

Featured Trading Setup - Consecutive Up/Down Bars

Featured Trading Setup - Consecutive Up/Down Bars

This is a simple setup that fades consecutive bars going against the market structure. Let's take a look at this example in the 5-minute ES futures chart. (Click on the image to enlarge.)

1. This bulllish swing kept pushing to new highs in the trading session.
2. When it finally paused, it fell back orderly with four consecutive bars. The pullback did not affect the bullish market structure and had the support of three broken resistance from the last session.
3. Against this bullish context, this up bar was a reasonable long setup bar.

Consecutive up/down bars may also mean new opposing momentum. Use the market structure of support and resistance to decipher it.

Good trading!

Quotes

If you don't stick to your values when they're being tested, they're not values: they're hobbies.

- Jon Stewart, The Daily Show

What are your values as a trader? Do you stick to them when you get a string of losses?

Do you remember them as the market goes against you? Are you treating your trading as a hobby?

Commodity Technical View 9 Nov, 2014

 Please note: Following are weekly charts. This is long term view about commodities and not intraday view.....these charts are useful for positional traders....I will keep same charts for coming weeks and post my analysis based on these charts every week.....Those who wants to refer this during the week can see it in "CHARTS" tab on the blog....

Gold Technical view

Above is Gold weekly chart.....

Gold has broken support at 25915 and 25512 but bounced back and trading above 25915. It is still trading in support zone ( red area). We may see bounce back to continue in this week......RSI (2) is in oversold area and MACD is showing positive divergence....Gold has support at 25915 and 25512 in support zone....

But till gold is trading in red area it is still not confirmed reversal of trend..... Gold has tested resistance at 26200 levels.....watch 26200-26250 levels.....break out above this level can take gold to next trend line resistance (red line) at 26500-26600 level.......next resistance/ Target levels are 27050-27235-27340,  above 27400 level 28000, 29000 are target levels.....

Below 24830....next support zone 23400-23000....

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Silver Technical View

Above is silver weekly chart

Silver has tested support of Channel ( Green Channel) and bounced back and trading above 34600......

We may see bounce back to continue.....as it is showing signs of trading in channel (green Channel)

If silver sustain above 34600 levels then it may go back to test 36500-37300-37400 levels again. Break above and weekly closing above 37400 can take silver till 38700-40000 zone and break above 40000 can take silver to next resistance levels of 42000, 45000+ level......

But if sustain below 34600 levels on weekly closing basis can take silver to next support zone at 30118-28026......

Silver is in oversold area in RSI (2) and MACD is showing positive divergence....we may see bounce back from present level....

Aggressive/ Capacity traders can accumulate and hold buy positions with SL below 34600 on weekly closing basis .....others can wait till breakout on either side....

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Aluminium Technical View

Above is Aluminium weekly chart

Aluminium has formed a perfect Cup & Handle form with volume also supporting it. This form has a support at 101 and resistance at 129....

If aluminum break and close above 129 on weekly closing basis then buyers can hold buying positions till target (129-101+129= 157)...157+ LEVELS....

Buy and accumulate till 125....with SL below 121.......

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Lead Technical View

Above is Lead Weekly chart

Lead is trading in a channel marked by red lines....and has taken support at 121.30 which is channel support as well as previous low (marked by horizontal red line).....It is trading with a trend line resistance (White line)....

Buyers now can maintain SL below 121 and hold buying positions.....break of white trend line at 125 level can take lead to next resistance near 140 and then near 150 levels and break and close above 150 can take lead to next channel resistance level at that time....which may be 160+ levels.....

But trade below 121 with volume and close below 121 on weekly closing basis can take lead to next support near 110 and then 100 levels....then next levels are near 94 and 75....and most likely Target below 121 is near 94 ..........

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Zinc Technical View

Above is Zinc weekly chart

Zinc is trading in channel and has already bounced back from channel support last week and now trading near support at 137 level...

Weekly MACD is also above zero....which is positive indication....

Buyers maintain buy positions and watch for break above 144-147 levels.... break above 147 can take zinc to 150-155-160 and then 170 and much higher levels.....just for your information previous high on 12/02/2006 is 208.30.....

If break 137 level then we may see 134 levels..... below 134 next support near 130-127 levels.....

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Nickel Technical View

Above is Nickel weekly chart

Nickel  has bounced back from its channel support and formed bullish engulfing pattern....Last week Nickel tested its support at 940 and trading above it ......above 940 stay on buy side and below 940 stay on sell side.......

Buyers can maintain their buy positions with SL below 900.......buy and accumulate on dips till 900 .....Positional traders can hold their positions for TGT 1300+ levels....in between Nickel has resistance near 994-1124-1167-1194-1204.....

If break below 884 then next support zone is 788-868 and has strong support at 844....There is a gap between 868 to 910.50 which is yet to be filled.....

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Copper Technical View

Above is Copper weekly chart

Copper has bounced back from its inner channel support (Yellow lines) and trading near trend line resistance (white line) at 420-422 level ....

Buyers above 422 Copper is very strong and can test resistance at 436-440 zone (439.90 Level)....break above 440 can take copper till 454 and then 507 levels....above 507 copper can touch 520+ levels......
Hold with trailing SL below 404 level .....

If break 407-404 on daily closing basis then next support zone at 404-407 levels, copper has support zone at 394-398 levels....break of 394 levels next support at 371 and then 342 levels.....below 342 copper may fall deep down....

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Crude Technical View

 Above is Crude weekly chart

Crude as expected has bounced back from support zone at 4770-4448 (red area) and trading above it....

Crude is trading near its trend line resistance at 4900 level.......RSI(2) is in oversold area and MACD is showing positive divergence.....but MACD in monthly,weekly and daily chart is below zero.....

Overall crude is still weak....but the indicators are suggesting bounce back which may be short term (at least at this moment)......

Buyers stay long above 4900 and expect targets 5100,5200,5400,5500 (5500 is trend line resistance (white line))....

Break below 4900 can take crude till next support zone at 4770-4448 (red area).....we may again expect bounce back from this zone for short term till 5000+ levels.... break below 4400 levels can take crude to next support at 3740-3800 levels....and more down.....So watch 4900 level first.....

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Natural Gas Technical View

Above is Natural Gas Weekly Chart

NG is trading above its channel resistance (white channel) and trading above it....

Please note that last week is opened with a Gap up......it may test RED channel again .....next resistance / TGT 285-291 zone and break above 291 it can go to 300+ levels.....
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Small tip...

Crude and Gold will move in same direction.....If Crude goes up ....Gold will also go up .........If Crude goes down....Gold will go down....

Follow Crude moment for Gold

Commodity Technical View

 Please note: Following are weekly charts. This is long term view about commodities and not intraday view.....these charts are useful for positional traders....I will keep same charts for coming weeks and post my analysis based on these charts every week.....Those who wants to refer this during the week can see it in "CHARTS" tab on the blog....

Gold Technical view

Above is Gold weekly chart.....

Gold has broken trend line support at 27300 and trading above support zone (red area) 26047-24830 after hitting low at 25887.....RSI (2) is in oversold area and MACD is showing positive divergence....Gold has support at 25915 and 25512 in support zone....

Gold may bounce back from present level.....

Aggressive/ Capacity Buyers can buy and accumulate till 25512 and maintain SL below 24830.....above 26400....next resistance/ Target levels are 26900-27100-27265,  above these levels 28000, 29000 are target levels.....

Below 24830....next support zone 23400-23000....

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Silver Technical View

Above is silver weekly chart

Silver has broken trend line support at 37465 and trading below it.....Now next support is at 34613 (34600) level.....but it has reversed from support zone of 34613-35716...( Silver hit low of 35138)....

If silver sustain above 35600 levels then it may go back to test 37300-37400 levels again. Break above and weekly closing above 37400 can take silver till 38700-40000 zone and break above 40000 can take silver to next resistance levels of 42000, 45000+ level......

But if sustain below 34600 levels on weekly closing basis can take silver to next support zone at 30118-28026......

Silver is in oversold area in RSI (2) and MACD is showing positive divergence....we may see bounce back from present level....

Aggressive/ Capacity traders can accumulate and hold buy positions with SL below 34600.....others can wait till breakout on either side....

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Aluminium Technical View

Above is Aluminium weekly chart

Aluminium has formed a perfect Cup & Handle form with volume also supporting it. This form has a support at 102 and resistance at 127....

If aluminum break and close above 127 on weekly closing basis then buyers can hold buying positions till target (127-101+127= 153)...153+ LEVELS....

If it fails told 127 level we may see 118-116.10 levels again which is weekly support (handle low)....

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Lead Technical View

Above is Lead Weekly chart

Lead is trading in a channel marked by red lines....and has taken support at 121.30 which is channel support as well as previous low (marked by horizontal red line).....It is trading with a trend line resistance (White line)....

Buyers now can maintain SL below 121 and hold buying positions.....break of white trend line at 125 level can take lead to next resistance near 140 and then near 150 levels and break and close above 150 can take lead to next channel resistance level at that time....which may be 160+ levels.....

But trade below 121 with volume and close below 121 on weekly closing basis can take lead to next support near 110 and then 100 levels....then next levels are near 94 and 75....and most likely Target below 121 is near 94 ..........

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Zinc Technical View

 

Above is Zinc weekly chart

Zinc is trading in channel and has already bounced back from channel support and now trading near resistance at 144 level...

Weekly MACD is also above zero....which is positive indication....

Buyers maintain buy positions and watch for break above 144-147 levels.... break above 147 can take zinc to 150-155-160 and then 170 and much higher levels.....just for your information previous high on 12/02/2006 is 208.30.....

If fail to break 147 level then we may see retracement till 138.55-137-134 levels..... below 134 next support near 130-127 levels.....

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Nickel Technical View

Above is Nickel weekly chart

Nickel  has bounced back from its channel support and formed bullish engulfing pattern....

Buyers can maintain their buy positions with SL below 900.....we might see little retracement near 940-950 levels....buy and accumulate on dips till 900 .....Positional traders can hold their positions for TGT 1300+ levels....in between Nickel has resistance near 994-1124-1167-1194-1204.....

If break below 884 then next support zone is 788-868 and has strong support at 844....There is a gap between 868 to 910.50 which is yet to be filled.....

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Copper Technical View

Above is Copper weekly chart

Copper has bounced back from its inner channel support (Yellow lines) and trading near trend line resistance (white line) at 420-422 level ....


Buyers above 420 Copper is very strong and can test resistance at 436-440 zone (439.90 Level)....break above 440 can take copper till 454 and then 507 levels....above 507 copper can touch 520+ levels......
Hold with trailing SL below 413 level .....

If break 413 on daily closing basis then next support zone at 404-407 levels...... Break below 404 copper has support zone at 394-398 levels....break of 394 levels next support at 371 and then 342 levels.....below 342 copper may fall deep down....

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Crude Technical View

 Above is Crude weekly chart

Crude is trading near its trend line support at 4900 level.......RSI(2) is in oversold area and MACD is showing positive divergence.....but MACD in monthly,weekly and daily chart is below zero.....

Overall crude is still weak....but the indicators are suggesting bounce back which may be short term (at least at this moment)......

Buyers stay long till crude is above 4900 and expect targets 5100,5200,5400,5500 (5500 is trend line resistance (white line))....

Break below 4900 can take crude till next support zone at 4770-4448 (red area).....we may again expect bounce back from this zone for short term till 5000+ levels.... break below 4400 levels can take crude to next support at 3740-3800 levels....and more down.....So watch 4900 level first.....