Dear Senior Traders,
I am new to commodity trading. Plz clarify my doubt. My doubt is while trying to do technical analysis on commodities I am stuck with the pricing. What is the price I should consider for commodities? Say, if I am analyzing Aluminum and I look into the MCX website for the last traded days Bhav Copy I found that, 3 contracts of Aluminum had been traded with the pricing of each contract being different. Say, it looked like this,
09/24/2010 ALUMINIUM 30NOV2010 104.90
09/24/2010 ALUMINIUM 29OCT2010 103.70
09/24/2010 ALUMINIUM 30SEP2010 102.75
Which price I should consider as the closing price of the commodity Aluminum?
Do I need to consider the current months contract price as the price of the commodity?
Plz guide me.
Regards,
Baranidaran M
I am new to commodity trading. Plz clarify my doubt. My doubt is while trying to do technical analysis on commodities I am stuck with the pricing. What is the price I should consider for commodities? Say, if I am analyzing Aluminum and I look into the MCX website for the last traded days Bhav Copy I found that, 3 contracts of Aluminum had been traded with the pricing of each contract being different. Say, it looked like this,
09/24/2010 ALUMINIUM 30NOV2010 104.90
09/24/2010 ALUMINIUM 29OCT2010 103.70
09/24/2010 ALUMINIUM 30SEP2010 102.75
Which price I should consider as the closing price of the commodity Aluminum?
Do I need to consider the current months contract price as the price of the commodity?
Plz guide me.
Regards,
Baranidaran M