Wednesday, 16 April 2014

commodity market trend today, bullion and base metal calls

Evening data affect commodity market today:
5.30 pm Fomc member speaks
6.00 pm housing permits data ,
>> housing starts
6.45 pm capacity utilization
>> industrial production m/m,
8.00 pm crude oil inventory
9.45 pm Fed chair Yellen speak
10.55 pm Fed member Fisher speak
11.30 pm beige book

Bullion trend update:

mcx commodity bullion are positive trend at evening session, gold traded at 28555 and mase low of day is 28315 and high of day is 28590,
mcx silver traded above 42324, high of day is 42493 and low of day is 41761, up trend today
mcx crude oil trend: crude oil traded above 6222 before inventory made high 6339 and low of day is 6249.
nickel and copper:
nickel made high at 1088.5 and low of day is 1041, mcx nickel break resistance level 1077 so 1100,1130 uptrend.
Copper traded 401.7 above today break 402 upside so 405,407,411 should be touch,
evening commodity call:
buy gold 28500 target 28650 stoploss 28400
buy silver 42300 target 42550 stoploss 42100
buy copper above 401 target 405,408 stoplos 397


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