WISHING ALL HAPPY AND SAFE DIWALI......

Commodity Update 26 Oct 2016

Still my updates on 9 Oct 2016 hold good....Following the same as yet...except I got hit out in NG ....

Refer to link below

http://suprememcx.blogspot.in/2016/10/commodity-update-9-oct-2016.html

NG Update : 24 Oct 2016

My stoploss hit at 205 bought at 208....now no positions in NG...

My bias was to buy but seems some more downside may be possible...not sure about the direction yet....

Gold Update :

I have covered all sell positions in Gold at 29840 ....Sold at 30050....

Now Bought at 29840 SL below 29750 TGT 30000++

Crude / NG

I will add more sell in crude at 3480-3490 TGT 3000

Ng I bought at 208 SL 205 TGT 230-252

Gold :

Booked all my buy from 29400 at 30050...and sold with SL 30160 for TGT 29400

BUT DOES NOT MEAN MY POSITIONAL TGT 32780+ IS OFF THE CARDS.......I WILL BUY AGAIN AT 29400.....

NOW 29960 IS CRUCIAL....IF GOLD GO ABOVE 29960 THEN I WILL BUY  TGT 30080 AND I WILL SELL AT  30080 WITH SL 30160 TGT 29400......IF GOLD CLOSE ABOVE 30200 THEN AGAIN I WILL BUY .....

Crude Update 19 Oct 2016

I have added more sell positions at 3450  for TGT1 -  3000

Gold and Silver 14 Oct 2016

This what exactly I mentioned ....There will be drop and quick recovery.....I am very happy .....This is a sign of Gold and Silver bottoming out....Now I am very sure Gold and Silver will give me my targets up side.....

SO FAR ALL GOOD GOING IN ALL COMMODITIES I MENTIONED.....

I will Hold all Gold buy for my much bigger up targets now....I will keep cool since I am sure Gold will see 32780+++ targets soon....(29860 to be broken with volume soon...)

Crude and base metal down side so still Holding my sell positions.....

You guys trade safe with Stop loss in proper place....

Commodity Update 9 Oct 2016 Updated Midnight

As I told last week...Something Big is coming ......Which is anyway good that all commodities will be trending and will not be in consolidation any more.....good time to earn good money....

Crude  :Good that I could see the divergence in 4hr chart and I sold Crude at 3380....I will keep it till 3000 or more less than that....Not decided on target yet...May be near 2160-2000???? .......Trend is down in mid term.....For Long term I have taken positions and will keep selling till 3442 with SL above 3442..... TGT 1 = near 1500 and TGT 2 = near 1000

NG : I am on buying side mostly for TGT 220+ and 243 ( would like to add buy on dips  with SL 190....) But now I can see on 3 months chart that NG is very bullish for next few years to come and ready to break 402 levels also.....Up trend for some time.....I will take long term positions at 175 with SL 169 TGT 1 - 402++ and TGT 566....

Base Metals : I am selling on rise.....as Trend will be down for Short Term....I will decide to take Buying positions at some time .....Long Term trend is UP only...I will Sell Zinc Till around 157.30 - 159....( already sold some at 156.50) TGT 1 - 150 TGT 2- 125 -124 with SL above 161....
Lead I have sold at 140 and will add more at 141.30 if it goes there....TGT 127.50....

From the levels mentioned above for zinc and lead I will buy heavily for much much higher targets....

Gold :  I am Bullish But no Confirmation on reversal yet so again maintaining strict stop loss as it is trading at major support and I expect a reversal/ bounce back...1st TGT 30560, 2nd TGT 30800+ and daily closing above 30900 will bring in more upside and 31466 is major resistance has to broken for TGT 32780 and more up....Break of 29860 will give way to all my upside targets....I will then be maintaining SL 29200 for all my big targets upside till 32780+++++

If fall below 29300 on daily closing basis then I revise my strategy.... But as I said before my upper targets are still intact.....as I will initiate buying positions at each support....risk rewards ratio is good for me...

Gold Technicals 8 Oct 2016

Grrrrrrrr........What a bad full week for me in Gold and Silver....

Only Gold and Silver gave me trouble this full week by again and again hitting my stop loss....

But any way I kept  stop loss at support, and once they are taken out my next target is next support and I buy again.....

Other commodities, are exactly going as per my predictions.....

So overall just marginal profit in Gold and silver, instead I could have made huge profit in Gold and Silver.....Through out the week, my bias was bullish even though the 4 Hr chart was showing downward movement.....lesson to learn......

Now what next???

Gold : Overall I am still bullish for bigger targets....

Let me share some technicals with you....

Now Gold has survived 29400 level which is another support and 200 DEMA is right there at 29440....This is technically supposed to be a strong support...Secondly on daily chart it has formed a Dojji candle at this support....Third : it is trading at 38% Fibbo level of Swing Low 24451 to 32455 Swing High....

RSI(6) and MACD are Deep oversold on Daily chart, Weekly Chart : Just entered Oversold territory....Monthly Chart: Trading above 50 level....

There will be some more testing of the bottom, and quick recoveries, like we are seeing for past 2 days....This is a sign of forming a bottom.....So long as every time it is closing above 29550 is crucial........ All these Points put together....Gold will Bounce back for sure at least to 30500+ levels and may be to 30800+, 31000+.....

My strategy will be to start accumulating at these levels.....Come what may be the drop.....Because I think If I am correct this time then my upper targets will be achieved soon....( Even though market  has fallen down so much, my upper target of 32780 is still intact...rather now I have increased my positional target to 33785+....on Comex Gold 1st TGT 1420 and 2nd TGT 1540-1560....

So all in all I have started accumulating Gold from 29400 and will keep accumulating till 27000 if it goes there....Possibility is very less at the movement.....BUT FOR SURE MY TARGETS WILL COME ....

Please remember this strategy is for Positional Targets only.....you guys trade safe as per your risk appetite.....Keep Stop loss in place to reduce losses.....

Gold - Morning Update

COMEX Gold has formed Bullish pattern in 4 Hr chart

I will Stay Long with SL below USD 1250 1st TGT 1310 and second TGT 1370....

In Mcx SL 29530 TGT 30500-30600 and 2nd TGT 31800......I will book partial profits at 30500-600 range since Gold may retrace from that level again...

I will Enter the trade at  29583Big Lots.... Confirmation after braking above 29740 and 4 Hr. candle closing above 29740

Silver TGT 44800 and 48000+...SL 41100

commodity update 7 Oct 2015

It is worst week of my trading in long years....Again Gold Failed to rally above 29750 and fell back to make new low....29550.....

But the charts are showing that something Big is coming....what I don't know....

Again Hit my buying SL and I made money by going to sell side for TGT 29580 which is 200 DEMA....If Gold sustain above 29530 tomorrow then good to buy with SL below 29530.....Gold is still holding above 29530 which is another Major Support.....So those who are long in it can Hold with SL below 29530.....I am still bullish on Gold till it does not close below 29530 on 30 min Closing basis....( But if it breaks with volume then I will be on Selling side)

Now I will look at Comex level USD 1250....If it is taken out then I think Gold will enter Bearish market and Fall will be worst to Take out previous Lows......

Made money in Base Metals by selling and Buying both side....

Base Metals have shown some bounce back but failed to sustain it....So I will sell below today's low tomorrow to catch the fall in base metals....

NG also tried sell at 205 for TGT 190 but it turned up without breaking 199...So covered all sell at 200....Now NG seems bullish only above 206

Crude managed to break 3340 but did not sustain much above 3377....Now Crude may drop from these Levels ....I will sell Crude tomorrow till 3384....with sl 3400 ...If hit then I will buy for target 3800.....

Everything seems changed now .....Trade safe with proper SL....If you have any doubts then call me...

Commodity Update...6 Oct 2016

Wow its Good Gold did not go up as expected but continued down movement and recovered....

I Bought at 29800....With SL below 29700 TGT 30500-30800....In fact I bought Big quantity which I will Partially book at 30400-500 then 30800, then 31000+ and Keep some for again my ultimate target now 33000+

I bought Silver at 42200 with SL 41900....will keep booking at 44300 and remaining at 55000....

Bought Base metals Zinc TGt 164-174
Lead TGT 150+
Copper Tgt 335

Crude Booked all buy at 3300 now will wait for break above 3350

NG Will buy above 208 or Sell below 190 only...But I may  try selling NG at 205-206 SL 208 TGT 190

Trade with Proper SL...

Commodity Update 5 Oct 2016

What a Drop.....

As I told I starts buying from 30500 area with SL 30400 but it got hit and I sold and recovered the losses.....As I was having bias towards buy side , But once it broke its support at 30500 ( and taken out 30432 which was another support down there) it was easy decision to sell off.....But did not expect it to fall this much in 1 day....

Anyway now what I expect is-recovery from the bottom....Gold and silver had hit their support and shown some recovery in the end.....But now I will watch 2 moves....

1. Till what resistance level it recovers...I think 30432-30830 level......then It will drop ( or may be before that)....

2. Then till where it drops ....if it breaks 29940 on his way of dipping then I will sell at 29941 fot TGT 29652....

3. If it does not break 29941 while dipping then I will buy on break of the resistance whichever it will form at that time....

I am still holding small buys taken from bottom way back and expecting it to clear at high 32800....

You guys trade safe with Stop Loss put in place ...It reduces your losses....

I will trade Breakout only now as Market is volatile with Low Volumes as China is closed this week...

Base Metals Have taken support too....Now it is to be seen where they are heading ....If they break yesterday's low thwn we can expect big downside fall ....and if they break yesterday's high then again big upside move...

Similarly if Crude Breaks 2900 then down and if break 3395 upside move till 3400 - 3800....

NG remains Buy above 206 and Sell Below 190.....

Gold Silver Update 3 Oct 2016

I am not selling Gold and Silver , rather buying on dips

Commodity Update 1 Oct 2016 - Updated in Afternoon

Grrrrrrrrrr.............what a week it was.......full of surprises....but something anticipated....

I had taken loss in base metals as they hit my Selling SL.....Gold did not brek above 31380....and so on.....

Anyway but still I made marginal profits as I traded with trailing SL....Base metals hit my SL of Rs. 4 but gave me chance to cover it by adding buys as my SL hit.....

Gold had covered some buy positions at 31230 ( resistance level) and rest hit my SL 30948....where I went for sell and finally got good profit at the end.....

Crude and NG still in profit.....

Now what next???

GOLD : Gold looking more weak now for New contract for TGT near 30500 if break 30950....and Silver targets near 44415.....from where we can have up move.....Both are forming Bullish pattern for which last leg down is in process....I will sell Gold below 30950 and silver below 45051....till then no trades

But there is another possibility......Gold and silver has made a Bottom for their Big Move upside.....I might Open Long with SL for Gold below 30900 ( Just in case it just pierce)...If it hits WITH VOLUME then I will sell otherwise I will add more Buys 

For Silver I will take a small risk of 45600 as SL ....In fact siver is looking very strong and with SL 45000 I will keep adding more buy positions....1st TGT 50000 and 2nd 53200

Crude : I am still bullish on Crude and now maintained trailing SL  2860 ....If hit then I will go for sell....Crude has broken 3173 with average volume and topped at 3233 but failed to brek it again on friday.....so I think Crude can take a dip towards 3030 if it breaks 3130 on downside.....and break and daily closing below 3020 can take it further down to 2925 maximum...But break of 3173 is a clear sign of bullishness for TGT 3350 and then 3800....I will wait for 2925 to add more buys.....or break of 3280...

I think If crude break 2900 then it will fall till 1800 in long run....

NG : I am still short in NG for TGT near 190-192....NG may for bottom near that level....but since it has not crossed 193 on Friday I cut all positions there...I am not sure about NG much ....it is trading in range of 205-194....I will again short near 205 area ....I think it will break 190 this time then after hitting 205....

There is also a possibility of NG going till 210-240+ levels....I am still not sure about NG....I will trade very carefully in it....A break above  208 can see 210 then down or break of 211 will take it to 224 and break of 225 will take it to 247....lets see ....

Base Metals: Looking strong but anytime can fall....have to be very careful....I have some long positions .....though I am overall bullish on base metals o some extent

I think Zinc is in process of forming bullish pattern  "bullish shark" on a weekly chart....If it is true then Zinc will go upto 164+ levels and then fall till 137.20 levels and then go up to 174....So I will start shorting Zinc from 164 to 165 levels with SL 166 for long term target for maximum 3-6 months of 137 ....

Similarly Lead is in process of forming " Bearish Cypher" for which the upside target is near 143.90 to 144.50 maximum and from there it will start falling downside TGT will be 128 , 113 and 104.10....any of these...

Copper can go maximum up to 335-337 levels to fall till 286.50 levels....it is forming "Bullish butterfly"on weekly charts... ..


You guys Trade safe and keep booking profits with trailing stop loss......