Daily Technical View on Indian Commodities

Hello Everyone,

Watch out my blog http://mcxpert.blogspot.com for technical views on highly traded 9 commodities mentioned below -
ALUMINIUM
COPPER
CRUDEOIL
GOLD
LEAD
NATURALGAS
NICKEL
SILVER
ZINC
Hope you will like it.

Thanks
Abhi

Today's 20th March view is like this -

As mentioned yesterday a nice recovery infact a decent recovery was seen in Gold & Silver and bears were killed badly. Again change in sentiment was seen. Gold is still trading above $945 & Silver above $13.28 which were Stops for bears. Lets see when we see the sentiment change again.

Aluminium broke all levels and as mentioned on 18th March Aluminium touched 72 yesterday. A close above 72.2 can show a significant move for 73.4/75.4/77 levels soon.

Crude again showed strength and kissed $52 in international market and 2655 (previous resistance in INR) and there some profit booking was seen. It is still positive and buy on dips item.

Bulls & bears are still fighting in base metals and a clear trend is yet to be seen although bulls were seen taking over bears at last.

Due to expiry today Natural Gas has seen an unbelievable spurt from the lower levels to the higher circuit level yesterday. After making a low of 185.1 it has risen up to 210.2 this is what called power of expiry.

Today's view on commodity market is updated at -
http://mcxpert.blogspot.com

Cheers
Abhi

Today's (24th March) view are updated @ http://mcxpert.blogspot.com -

Market view 24th March
Wow what a wonderful day!All commodities worked as expected and mentioned in my yesterday's post.

Aluminium we used as swing trading and it worked well for quick gains. I would rather wait now for any new entry in it.

Natural Gas as mentioned showed strength and has risen with increase of bull volume. Still looks good for longs.

Gold & Silver remains in the same volatile category. Trade with strict SL until trend is clear. Right now its being developed.
In base metals on higher levels profit bookings are taking place which is restricting bulls to win unanimously. Keep fighting...we will sell @ resistance & buy at support

Last but not least Crude. As mentioned earlier it has shown a significant strength in yesterday's trading and managed to close above previous heavy resistances of 2655 & 2674. In intraday sessions also it tried to break 2674 thrice and fell badly and tested a low of 2611 and has respected the support of 2580-2600 (given to clients to buy abv this) and bounced back sharply. More gains to come in coming weeks. Only concern is $ and if it will show some strength Crude will rise like a rocket.

Cheers
Abhi

Crude Oil Technical View

Yesterday Crude managed to close above its previous strong resistances of 2655 & 2674. It is now in strong uptrend & can be bought on dips for higher gains. I see targets of 2850/3000/3146 in coming weeks.

Cheers
Abhi

Hello All,

Market View for 25th March are updated on the blog.

http://mcxpert.blogspot.com

Gold & Silver have shown some signs on weakness yesterday. Gold seems more bearish than Silver as of now. Silver is yet to match Gold weakness...

Crude Oil is still positive. Bulls are trying to push it hard upside but bears are stopping it in 2720-2725 zone. Bulls will be in full control above 2730 or $ 54.15.

Metals are still non trending & moving in a trading range. Trade with keeping support and resistances in mind.

Natural Gas as expected is positive and managed to close around days high. But right now its around it channel resistance so a break above the TL will take it to higher levels and if not able to breach it then we can expect a fall from here.

Cheers
Abhinav

Market View for 26th March is updated on blog http://mcxpert.blogspot.com

Cheers
Abhinav

Market view for 27th march is updated on http://mcxpert.blogspot.com/

Thx
abhi

Market view for 30th march is updated on http://mcxpert.blogspot.com

Thx
Abhi

Market view for 1st April is updated at http://mcxpert.blogspot.com

Cheers
Abhi