Commodity call and up dated 11th April  2018

Gold –  June 2018 : Yesterday some short covering seen and almost closed near to 30900, Cosider resistance 31000  whereas to good opportunity to short side with stop loss 31300 for target 30500  and below.   Total open interest stood at 8411 and added 447.

Silver-May-2018  :  Side ways counter and trading range, time for consolidation and wait for break out in either side, however, higher level to play short with tight stop loss.  More up dated market hrs.

Crude -19th April 2018 :   As we are bullish from the level of 3600 and  we are near to our target 4300.  Price also trading  near to 3 years high. We have already long ande advised to book profit at 4300 + and wait a side line.   Total open interest stood at 17226 and some long side seen.

Natural Gas -25th April-2018  : All good news over with consider resistance 180-181   and any positive bias only above that level, down side support  170-172  break with volume, panic selling likely.  Yesterday fresh short seen and total Open interest stood at 11383 and fresh short added by way of 2726 contract.

Aluminium –April 2018 :  As we are continue bullish and clearly mentioned that above 132 very bullish and above 136 do not think short sell and almost made a high 146.50.  Yesterday heavy move resulted open interest stood at 8013 and long added by way of 2642 contract. Now advised to book profit and further buy avoid.

Copper-April 2018 :   Continue bullish pattern and trading trange 420 to 470 for the last 6 months and looks ready to break out at upper level.  As we have already long and our stop loss 440.    Down side 435 is a decent support whreas 200 DMA established and higher level sustained above 450  up side gate open towards 465-470.  Yesterday heavy short covering seen and total open interest stood 11586 and reduced 3096 contract due to short covering.

Nickel – April 2018 :  As we are long above 850.  We may consider resistance 900-910 whereas to good profit booking likely at that level.  Avoid fresh long side.  Holding long with trailing stop loss and protect your profit.   Total open interest stood at 8687 and fresh long added 1475 contracts.

 

Lead –April 2018 :  Side ways trend and resistance at higher level 162-165 range till not cross successfully do not think any positive bias this commodity.  Lower level consider support 150-151  as long as hold bullish view continue, below decent opportunity to short side.  Total Open Interest stood at 3012 and yesterday added 899 which is short side.

Zinc-April 2018 :  As we are bearish below 225 and almost covered our all short at 212-210 range in last week.  Now what to do next.  Continue trading in small trading range and picture is not clear a trend.  However, we may consider support around 205-208 range  and far support 200, on the higher side supply area around 218-220 range.  Time to avoid.      Over all total open intrest stood 4319 and reduced 391 contract due to profit booking.

 

3mteam Research

Call   9630466296

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