Commodity Overview

Gold has dropped since beginning of last week and on Friday showed a positive movement....

As told before Gold is weak below 26200 if trade more than 1 hr.....

Now shift trailing sl to 26400 ( Below 26400 if Gold trade for more than 1 Hr then only be on selling side)....Gold has resistance at 26775.....look for break above this with volume.....

Gold seems to rise further to go more high in coming days......Stay on buy side above 26400 as trailing SL ....

Base Metals

Overall trend is still down....trade with trailing SL if on buy side...

As told earlier this week base metals traded both ways .....and given good profits on break on both sides ....
Hope all have made good profits....

On Friday, base metals ( New Contract) had already given a breakout on upside and shown good intent of achieving upside targets....

But now they have taken a resistance at key level and break of Friday's high is needed ....

There may be some retracement and then upside movement may continue.....  wait for some retracement and then buy.....

Energy

Overall trend is still down for Crude....trade with trailing SL if on buy side...

Crude as expected has bounced back ....bounce back may continue for some more days.....buy on dips...
But Crude is strong only if sustain above 3121

Gold Alert : Gold will turn bearish only if it trades below 26200 for 1 hr....

Commodity Overview : 23 August 2015

Gold:

Overall short term Gold remains buy on dips above 26000.....Look for buying opportunity....

Gold is trading in overbought zone .....so expecting a pullback any time....Gold has resistance at 27330 and support at 26850....

Break on either side will decide further movement of Gold...Break of 26850 can take gold to 26500, 26200 levels....

Break of 27330 can take gold to new high 27390-27450+ and may be more....BUT FAILURE TO MAINTAIN ABOVE 27390 CAN TAKE GOLD TO LOWER LEVELS....( IT MAY BE REVERSAL AND MAY CONTINUE LONG TERM DOWN TREND)

Base Metals:


Most of the base metals are consolidating.....and expecting a breakout on upside....
Wait for breakout as follows.....

Copper : Upside 339 - downside 324
Zinc: Upside 120.50 - Downside 115
Lead : Upside 115.50 - Downside 109

Energy:

Crude and NG both are consolidating and expect a pullback upside....for short term only....Long term trend remains Down......

Crude: Upside 2850 - Downside 2700
NG: Upside 182 - Downside 168

Targets after breakout will be previous highs....trail sl to keep your profit intact....

Commodity Overview : 16 August 2015

Please read last week overview for down side targets
Bullion: Gold and Silver are at critical levels.....

Safe buy is above last week high ( If daily close above last week high)....


Gold:

As expected Gold has bounced back beyond expected level and sustaining at higher level....Gold is showing good positive momentum.... and intent to go much higher.....IS IT REVERSAL OF TREND ??? OR GOLD HAS TOPPED AND CONTINUE DOWN TREND??? STILL DON'T KNOW.....

Interesting levels to watch are 26115, 26345, 26600+, 27040+ ( if break 26122) ......and 25345, 25200, 25100....

Safe buy is above last week high ( If daily close above last week high)....

Silver:

Similar to Gold , silver is also showing positive intent....Interesting lvel to watch is 36990 ....above it silver may run for another 2000 or more points....

BASE METALS:

As expected copper and other base metals have shown positive movement....watch following levels for breakout / resistance....

Copper : 345+ .... 327
Zinc: 121+ ( 127+-131.50+)
Lead: 115+
Aluminium : 102.80



Crude:

Crude is showing support near 2700 area. Also there is big positive divergence in MACD and RSI to show upside movement any time....It might be big reversal......

Crude is weak only below 2700 ( If daily close is below 2750).....then sell crude....

Till then buy on dips above 2700 for initial tgt near 3200+....

Ng : Ng also remains buy on dips above 174 as stoploss....waiting for TGT 200+

Update: Gold trading in bullish zone now since it closed above 25900

Gold now remains buy on dips for TGT 26600+ which wll be its maximum jump upside.....I might sell at this level depending on what other indicators are showing....

In between watch 25122 ,25160, 25390 levels for possible reversal levels....

Above 25700 buy on dips with sl 25700....Gold will be weak only below 25400.....But buying is recommended only with strict sl...

As Expected Commodity market has retraced....some targets are achieved and some are pending.....

Watch out levels as mentioned yesterday as reversal levels......read below.....

Now wait and watch for reversal / sell signals or trail your stop loss ....and watch for break above today's high for last impulse move up....

Gold is now in positive territory ....Till Gold breaks 24450 it is buy on dips....but I think it will be last chance for bulls to take it up to 25500-25700 levels and then look for reversal....

Read the update of 9 August 2015 for more upside tgt for other commodities...

Commodity Overview : 8 August 2015 UPDATED 9 August 2015

This week had been trying week for most of the commodities.....

As suggested last week , I expected some correction in most commodities......which is due any time....for reference, I am putting down last week suggested levels below....

All commodities are extremely oversold and may show some correction / sideways movement upside..... 

For sure the whole market is very bearish and it will fall down to new lows....But, it may show some correction in next week in all commodities before it fall further and continue down trend...this, bulls will win the trade....

Those who have Sell positions may keep it or book it and wait for some correction and sell from higher levels.....BUT DON'T BUY FOR ANY RETRACEMENT UPSIDE TILL IT IS CONFIRMED.....PATIENCE ALWAYS PAYS......BIG DOWN FALL IS STILL ON CARDS.....IT IS ALSO QUITE POSSIBLE THAT MARKET MAY START FALLING FROM FRIDAY HIGH.....

This correction will bring in new opportunity for selling for positional traders ....the more it retrace upside it's good for bear ( Seller), the more it will fall....

Gold, Silver, Base Metals, Crude, NG all may show corrections to test previous mid term levels....

Levels to sell will be posted as and when it is clear.....

To some extent please watch following levels for possible reversal......It may or may not go till these levels....

Safe traders can sell below last week's low....( Mark last week low) or wait and watch the correction levels...

Gold : 25168-25280-25413-25500 or 25600-25700+ ( If Gold fail to break and sustain above 25035....Gold may reverse from last week's high)( I have sell at higher levels and will maintain sell positions for TGT near 22000-21800 region.....)

Silver : 34900-35065 zone or 35750+ ( Downside TGT below 30000)

Copper : 340-350-353+ or 363  ( or sell below 327 only....TGT 278-288 zone)

Zinc : 121.50....( Downside TGT 113-115 Zone)

Lead :115+ ....(Downside TGT 101 - 103.50 Zone)

Aluminium :105.75 (Downside TGT near 82)

Crude : 3060+ or 3184...or 3277-3284 zone ( I have sell at higher levels and will maintain for

                                                                      final TGT 1626 - 1770 region).....

NG : May not show correction but still if it corrects maximum it can go is till 177+ to 179+ levels...or if break 180.80 then buy more for TGT 191+ ( may be till 203+ and reverse from 203+ levels for lower targets)......But if break 168 then sell more for TGT near.......

Gold : If hold 24680 level then we may see one more spike up....Sell on rally....

Copper till it holds 330 can show 336-338 levels ....which is good selling opportunity....

Crude may also show some upside rally ( Sell at higher levels)...buy above 2865 for tgt 3090+
Sell around 3100 for TGT below 2750

Base Metals : Today , below yesterday's low expecting down trend to continue....

I will buy with SL of Monday low .....

Commodity Overview : 2 August 2015....UPDATED 3 AUGUST 2015

Since it is beginning of new month and new contract in some commodities, we will have to see movement on Monday and closing ,  to see where the market is heading for.....

For sure the whole market is very bearish and it will fall down to new lows....But, it may show some correction in next week in all commodities before it fall further and continue down trend...this week, bulls will win the trade....

Those who have Sell positions may keep it or book it and wait for some correction and sell from higher levels.....BUT DON'T BUY FOR ANY RETRACEMENT UPSIDE TILL IT IS CONFIRMED....WAIT UNTILL WE SEE MONDAY _ TUESDAY CLOSING.....PATIENCE ALWAYS PAYS......BIG DOWN FALL IS STILL ON CARDS

This correction will bring in new opportunity for selling for positional traders ....the more it retrace upside it's good for bear ( Seller), the more it will fall....

Gold, Silver, Base Metals, Crude, NG all may show corrections to test previous mid term levels....

Levels to sell will be posted as and when it is clear.....

To some extent please watch following levels for possible reversal......It may or may not go till these levels....

Safe traders can sell below last week's low....( Mark last week low) or wait and watch the correction levels...

Gold : 25413 or 25600
Silver : 34900-35065 zone or 35750+
Copper : 350-353+ or 363  ( or sell below 332 only)
Zinc : 131.20
Lead :115+
Aluminium :105.75
Crude : 3060+ or 3184...or 3277-3284 zone
NG : May not show correction but still if it corrects maximum it can go is till 177+ to 179+ levels...or 183.60 level