Commodity call and up dated 12th April 2018


Gold –  June 2018 (31355)  :    As we have given a short call at 31000 near and our stop loss triggered .     As tension in global between USA and Russian due to Syaria, continue so yellow metal will be remain positive side.  Consider support 31000-31000 whereas a good support and decline to buy for target 200-300 points. At current price do not sump. Total open interest stood at 10146 and added 2183 for long side.

Silver-May-2018 (39181) :   Yesterdeay successfully crossover previous high with decent volume Consider support 39000-39050 and decline to buy side.  Total open interest stood at 16800 and almost 6899 OI reduced due to profit taking.

Crude -19th April 2018 (4354):     As mentioned yesterday  resistance around 4305 of 3 years high and succewssfuly crossover move towards 4400.   Any decline to buy side, do not think short sell this commodity.  Crude already moving above 70 Dollar which is a very positive likely.

Natural Gas -25th April-2018(175)  : 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.  Time to avoid and wait for new set up of this commodity.

Aluminium –April 2018 :     As we are bullish above 136 and achieved all target and advised to book profit and wait for side line do not try to buy side under any circumstance.  Remember, abrnomally and sharp  move will not sustained in near term like this commodity.  Yesterday total OI stood at 7850  and some short added by way of 2450 contract.  More confirmation awaited on data will clear the picture.

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.   Sharp decline to go long. Today OI stood at 11257 and seen profit taking at higher level resulted reduced OI by way of 3475 contracts.

Nickel – April 2018 :  As we are long above 850.  And almost made a high 905 which is near to previous high which is placed at 910. Trading range for the last few month  820 to 910 and at the current level break or make situation likely. However, we are bullish and sustained above 910  up side gate open towards 950-980-1000 mark. On the  flip side, inability to cross 910 some profit taking can not be ruled out.   Today open interest stood at 8953 and long side added 1544 contract.  Closely watch OI data in market which reflect clear trend in coming days.

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. Resistance at higher level and ltime being avoid trade in this commodity.

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.       

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