views for commodities

[futuretrader]

mcx copper - prefer buy @ 421.5-422,stop below 420.traget 425,428.5.

 

[futuretrader]

crude oil weelkly chart showwing resistance these levels.

 

[futuretrader]

comex copper - on 60 min. chart,copper has showing bearish divergence.

 

[bapu4]

Good Morning FT !!

Crude is really rude !!

Any call on crude today ??

-Vivek

 

[futuretrader]

crude oil - prefer to short crude oil below 100.90,stop above 101.50,targets 99.80-99.50.

 

[futuretrader]

today US MARKET HOLIDAY,so market remain quite.tomorrow NFP DATA has been awaiting.

 

[futuretrader]

comex silver - prefer to buy @ 19.26- 19.30,stop below 19.18.target 19.38,19.45.

 

[futuretrader]

comex silver has a strong support at 19.12.a buy can initiate here @cmp 19.20,if able to break n sustain above 19.32,then next target 19.54.

 

[bapu4]

Dear FT ,
(I refer the dollar price graph of crude and trade in INR !!)
I have a query about the crude price movement !! Day before yest. i had shorted crude at 5895 at around 8:30pm !! Further , it came down to 5890 and then again rose and went to 5910, and it got trapped between 5900 to 5910 moving between these two prices for nearl 2 hrs !! But after two hours ,it's dollar price came to the level where the INR price of crude was 5895(my shorting price) but the price stayed at 5900 !! Then the dollar price further came down nearly 20rs. equivalent to INR price of crude but still the crude price stayed at 5900 !! And due to this rudeness of crude , i had to exit the position at 5900 !! After that when the dollar price again came up to 5900 equivalent from there both the prices again went up simultaneously !! I got very much frustrated !! Even being in profit , i had to exit in loss !!

This phenomenon i see everyday !! And even being in profit in dollar terms , i had to book loss in INR terms !!

What is this phenomenon ?? Why this must be happening ??

What i think is , is the currency denomination at work there ??

Please through so light if possible !!

Regards,
-Vivek

 

[ashu1234]

Dear FT ,
(I refer the dollar price graph of crude and trade in INR !!)
I have a query about the crude price movement !! Day before yest. i had shorted crude at 5895 at around 8:30pm !! Further , it came down to 5890 and then again rose and went to 5910, and it got trapped between 5900 to 5910 moving between these two prices for nearl 2 hrs !! But after two hours ,it's dollar price came to the level where the INR price of crude was 5895(my shorting price) but the price stayed at 5900 !! Then the dollar price further came down nearly 20rs. equivalent to INR price of crude but still the crude price stayed at 5900 !! And due to this rudeness of crude , i had to exit the position at 5900 !! After that when the dollar price again came up to 5900 equivalent from there both the prices again went up simultaneously !! I got very much frustrated !! Even being in profit , i had to exit in loss !!

This phenomenon i see everyday !! And even being in profit in dollar terms , i had to book loss in INR terms !!

What is this phenomenon ?? Why this must be happening ??

What i think is , is the currency denomination at work there ??

Please through so light if possible !!

Regards,
-Vivek

Hi vivek,
Yes its currency adjustments which makes trading for mcx players a hell.
There is lot of currency trading going on on overseas market which result in such fluctuation in mcx prices. I've quoted same things in my threads in gold and natural gas prices. Its really frustrating to pair comex rates with mcx and trade on real time. To trade on mcx we need stable currency movement which in recent time is not possible due to many reasons. Best is to trade on comex but that's a different story, for now we have to live with this pain.