A view on commodities

Discussion in 'Commodities' started by DSM, Mar 16, 2014.

  1. Mr. Mangatha

    Mr. Mangatha Member

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    Location:
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    http://www.investing.com/currencies/usd-inr

    Watch the currency price in this page.

    Note the currency and nymex crude at 11.30 PM at every night

    and watch at every morning 10 am both the prices in the same page. the you will understand how the market will open.

    on Friday, 21.03.2014,

    Rate at 11.30 PM, was 100 $ and 60.85. but american market closed at 99.55 and 61.05. According to me, Current price is above 6120 only eventhough there was a fall in nymex crude after mcx close.

    But we should see tomorrow morning to get the clear picture.
     
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  2. DSM

    DSM Well-Known Member

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    Thanks Mr. Mangatha... Will track USDINR as well. There's geo-political tension between Russia and Ukraine. So we have to watch how Gold, Crude and NG behave. (Russia is a larger exporter of NG to Europe - we can expect it to move up) Let's see how it unfolds....

     
  3. sunshinerays

    sunshinerays Member

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    One more for (USD INR) .OANDA.COM
     
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  4. DSM

    DSM Well-Known Member

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    NYMEX crude oil down in Asia on Libya exports, sluggish demand

    http://www.investing.com/news/commo...asia-on-libya-exports,-sluggish-demand-275513

    Crude oil prices in Asia fell early Thursday after a drop in U.S. supply failed to erase concerns about sluggish demand and resumptions of exports by Libya and traders said it was an abberation because a closure of the Houston Ship Channel between March 22 and March 25 limited imports of crude, prompting stock drawdowns.

    NYMEX crude oil down in Asia on Libya exports, sluggish demandCrude oil prices down in Asia On the New York Mercantile Exchange, West Texas Intermediate crude oill for delivery in May traded at $99.31 a barrel, down 0.32%, after hitting an overnight session low of $98.87 a barrel and a high of $99.82 a barrel.

    Brent crude on ICE Futures Europe fell 0.8% to $104.79 a barrel, a near five-month low, on concerns that a blockade on Libyan export terminals could end, adding supplies to the global market. Oil ports held by armed protestors along the Libyan coast may soon begin shipments soon, which sent oil prices falling on expectations for global supply to increase.

    An eight-month standoff between protestors and the government may end within days due to an agreement between both sides. Meanwhile in the U.S., the Energy Information Administration said in its weekly report that U.S. crude oil inventories fell by 2.4 million barrels in the week ended March 28, defying expectations for an increase of 1.1 million barrels, though investors shrugged off the news.

    Total U.S. crude oil inventories stood at 380.1 million barrels as of last week.
    The report also showed that total motor gasoline inventories decreased by 1.6 million barrels, compared to forecasts for a decline of 1.1 million barrels, while distillate stockpiles increased by 0.6 million barrels, confounding expectations for a withdrawal of 0.1 million barrels.
     
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  5. monty1

    monty1 Member

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    Nice thread..
     
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  6. bschandran

    bschandran New Member

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    This is a great thread DSM. Learning a lot from it. Please do continue to add more to it. Thanks
     
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  7. Catch22

    Catch22 Well-Known Member

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    THANKS A LOT!! This is very useful while trading in commodities ,as we are unaware of the impact these have on our positions ,specially when we are new to trading .
     
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  8. Catch22

    Catch22 Well-Known Member

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    Expiry communication ' - 28/08/2014 MCX – We are required to square off the positions in 28AUG2014 expiry contracts of GOLDGUINEA, GOLDPETAL, MENTHAOIL before 4.30 pm (unless one prefers to take delivery of the same ,with adequate funds).

    28/08/2014 13:38:56 : MCX/ NCDEX – Please note that on account of Ganesh Chaturthi on August 29, 2014 (Friday), market will remain closed during the morning session And is open for trading [only ] during Evening Session i.e. From 5 pm To 11.30 pm.

    ---------------------------------------------------------

    28/08/2014 13:35 : LME Stocks : Aluminium {-6050}, Copper {+1050}, Lead {+3475}, Nickel {+456}, Zinc {+3075}

    Happy Holidays!
     
    Last edited: Aug 28, 2014
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  9. Catch22

    Catch22 Well-Known Member

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    DSM , I have been watching Mentha closely ..From what I have observed , buying interest would have set in now .As this is the season ,it is in demand,and will continue for about 3 months or so.It has closed in red again today .And as far as I can see, with my limited knowledge of TA , reversal hasn't formed yet .Wanted to kindly know , with a stop around 663 , can we enter long pl? Thank you .
    PS ,Take your time ,concentrate on your trade ..Crude is in an interesting level now .Just a thought.
     
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  10. DSM

    DSM Well-Known Member

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    Hi Catch22,

    Just looked at the daily and weekly charts. Seems Mentha Oil is trading at its 3 years lows. Last two months, it is holding the bottom. So it seems like you are looking to buy at the lows, with the lowest bar being your SL.

    On the daily charts, basis technicals, Mentha Oil is an avoid. Every break of price upwards is being sold into. Any buying of Mentha oil can only be speculative bet, but it may as well work out, as the last 10 weeks it has been trading in a very narrow range, and a break can be expected in any direction. Posting charts for your reference.

    [​IMG]


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