Wednesday, August 12, 2009
Market view for 12th Aug
crude behavior is still same. Highly volatile. After making day's high yesterday it made a new day low. Looks somewhat on negative side.
Gold & Silver are also showing the same behavior. No change at all.
Same is the case with Natural Gas. Weak but volatile.
Tuesday, August 11, 2009
Market view for 11th August
Crude also shows some sort of change in behavior. Still highly volatile & non directional so better avoid.
Gold & Silver also displayed some selling pressure on higher levels & are not able to sustain there. Yesterday huge profit booking is seen in both the counters. Some more correction can be seen in them but overall they are still good for longs.
Natural Gas is still weak but non trending & volatile.
Monday, August 10, 2009
Market view for 10th August
Base metals have shown some correction & again went up swiftly. As I said they are in a very strong uptrend so any correction in them can be used to enter longs with strict SL. We had initiated shorts and booked some profits but later trailing SL got hit as there was a sharp bounce.
Crude has been extremely volatile in last few sessions. Its behaving like a wild cat which cant be controlled. As I said that 3327 was support and 3482 was resistance, so far it has managed to obey that range but was highly volatile. Trend is still up & dips can be used to buy.
Gold & Silver still looks strong. As mentioned quite early Silver is going great & already given more than 1000 points from the entry point. Gold is also following it & getting stronger. The day Gold will close above 15025 will make it even more stronger for new highs...Keep an eye
Natural Gas is another counter which is not getting stable from last 2-3 months. It has been giving both side movements & a proper up or downtrend is not getting established. When it goes up it goes up like a rocket and when it falls down it falls like a knife. Mostly on its inventory days it shows such movements. Right now it is on a little weaker side but a very nice support is yet to be broken before any major downfall can be seen. I expect a nice bounce from that support.
Thursday, August 6, 2009
Market view for 6th Aug
Crude as mentioned has taken a beautiful support at 3327 and bounced back sharply for 3415. It is still up...
Gold & Silver are also up and can be bought on dips.
Natural Gas is looking somewhat positive so we made some money intraday in it by going long at 188.70 for target of 197 intraday. Met 3rd target of 195 and settled down at 2nd target. It is somewhat positive but the real strength will be on a close above 200. Keep an eye...
Wednesday, August 5, 2009
Market view for 5th Aug
Crude still looks good and is in positive zone. 3327 is the support and 3482 is the range to move.
As mentioned yesterday Silver was looking very strong so we traded a positional long call in Silver and 3 targets met intraday only. Gold itself was not so strong but was pulled up by Silver. Now after yesterday's rise Gold also looks good for longs. Exact levels only for clients.
Natural Gas is still non trending and below lots of resistances. Now it has made a nice support in 184-186 zone so any further weakness will come only below it. Short term looks good to buy near support but until it closes above 200 the real strength wont come. Lets see when it happens.
Tuesday, August 4, 2009
Market view for 4th Aug
As mentioned base metals are going very strong. Everyday they are making new highs. Any dip in them can be used to go long.
Crude is also looking positive. 3491 seems to be next target in it.
Gold is not showing as good strength as Silver. There is an important level and a close above that would make GOLD strong for longs. Silver looks good for longs..
Natural Gas inspite of being negative has risen with a strong momemtum and volume. Trend is still not clear so we would avoid until it breaks out clearly.
Monday, August 3, 2009
Market View for 3rd August
Crude also looks good for longs and can be bought on dips.
Gold & Silver would remain volatile so trade accordingly.
Natural Gas looks negative and can be a short on rise.