Commodity Update 31 October 2015

I was expecting up moment on friday, which did not happen.....also Gold 4 hr candle did not close above 26550, which is not good for Bulls.....Even Bad USA data was not able to take Gold upside....

Gold may show some more down side on Monday. I expect a pullback next week anytime....May be around 26300+ levels.....My 4 Hr closing basis SL is 26200.

If Gold sustain below 26200 for 4 Hrs then I will cut all my buy position at loss......I am expecting a nasty pull back.....

Plus point is Silver is not showing signs of big Drop....as I mentioned 36100 is key level in Silver and after a drop in Gold , silver managed a little pull back on Friday.....I have kept my SL at 36100 on 4 hr closing basis....If it hits then I would go on short side in Silver and Gold both.....Then we may see heavy fall in Gold and silver in coming days....

Crude and NG:

I have buy positions in crude with 4 hr sl 3000.....I am expecting a break out of 3075 level...If on Monday I don't get break above 3075 I will cover all my buy positions and wait on sideline till on bottom side 2840 is broken.....

NG

I have no positions in NG ....NG looking to go positive....I will wait for daily candle to close above 155.50 level to go long....It was quite tempting to go long above 146....But I Don't want to risk my buy yet....It has Gap between 2 contracts....so a drop from below 155 may be nasty....

It may pull back till 133-138 area which MAY be good buying opportunity....I would prefer to wait and watch


Zinc and Lead ( November Contract)

Zinc and Lead I still have buy positions and expect a break above Friday's High either on Monday or Tuesday...

Gold Silver

As suggested before Gold Dropped till 26605 ( I told 26630-26200 levels are buying zone)...

I have bought Gold at closing rate today and will keep buying on dips till 26200....

I have also bought Silver also at closing rate and will maintain SL 36100 on 4 hr closing basis...

I am expecting UP day tomorrow and next week

Commodity Overview

Commodity market may show some bearish targets but as medium term ...depending on your capacity...keep buying on dips....Positional traders can earn good profit on buying on dips....

I will keep buyin on dips

Example : As mentioned in my earlier posts Gold below 27100 may drop till 26600 ( 26631) - 26200..range which is buying zone....I will not sell for retracement but I will look buying opportunities

short term bearish....medium term bullish...long term bullish....very long term bearish

Gold may retrace to 26400-26200 if sustain below 27100....still I will buy on dips for TGT 28000+

I will buy Gold today evening on dips TGT 28000+

Next TGT for Zinc 133....longterm TGT 175 +

If Data comes bad there will be small down moment.....but Uptrend is still intact

Booked profit in Gold and Silver buy position and now again waiting for good entry point to buy / sell

Bought Gold at 27160 with SL 27100....and bought silver also....Gold need to break 27250 for upside targets to be achieved.....GOLD SILVER STOPLOSS HIT....waiting on sideline now to decide the market moment....but upside break of 27200 is expected

Commodities may turn bearish today for short term....

Commodities: What to expect next....

With better money management....I am buying and selling with quick profit booking....

Small Traders should take FREE i repeat FREE advice before taking any any positional trades.....In positional trades Stoploss may be large...but Big profits too....if your equity allows you to take risk without affecting your personal life then only trade Positional calls.....otherwise trade intraday with fixed profit / loss per day.....money management is needed/recommended

But at the same time I am adding more long positions with every dip for positional tgt for Gold 28000+....Similarly for Silver.....

Other Commodities Positionally I am adding buy positions  .......and they are in profit already.....

All Base metals I covered 75% buy positions in  profit....again waiting to add buy at right levels.......( Just for your information as example.....I am Buying Zinc for TGT 175+....Please remember it is positional Target....I sold positionally  at 150...(High made154+) for TGT 106 ....I have decided to buy from 106 on every dip of INR 3....) and/or will add more buy on every rise of INR 1 from 106.....Check my previous posts....Here is screen shot....

Crude waiting to break 3034 or 2840.....No positions till break on either side ....I am expecting break on upside with SL below 2840....lets see