Sell Copper

Copper Sell Call

Sell Copper around 364.50

7:52 PM NST

Target: 362.50-360.30-358.5

Buy Crude Oil ~ Buy Call

Buy Crude

Time: 5:05 PM NST
Buy Crude Oil around $ 78 (Wait for Little Decline)

Target $ 78.60-79.20

Today’s Outlook for Gold, Silver, Copper, Crude Oil, Natural Gas & Heating Oil ~ Buy, Sell Online

METALS:

December gold futures closed up $9.80 at $1,308.40 today. Prices today closed near the session high, scored another fresh record high and scored a big and bullish "outside day" up on the daily bar chart--whereby the high is higher and low is lower than the previous day's trading range, with a higher close. A weaker U.S. dollar and safe-haven buying interest following some dour U.S. economic data today boosted gold. Gold bulls have the solid overall near-term technical advantage and gained more power today. There are still no early technical clues to suggest a market top is close at hand in the gold market. Prices are in a two-month-old uptrend on the daily bar chart. Bulls' next near-term upside technical objective is to produce a close above psychological resistance at $1,325.00. Bears' next near-term downside price objective is closing prices below solid technical support at today's low of $1,276.20. First resistance is seen at today's all-time high of $1,311.80 and then at $1,315.00. Support is seen at $1,300.00 and then at $1,290.00.

December silver futures closed up 25.9 cents at $21.73 an ounce today. Prices closed near the session high, hit a fresh 30-year high and also scored a big and bullish "outside day" up on the daily bar chart today. The weaker greenback today and the rally in gold boosted silver prices solidly higher. Silver bulls still have the solid near-term technical advantage. Prices are in a steep five-week-old uptrend on the daily bar chart. There are still no early technical clues to suggest a market top is close at hand. The next downside price objective for the bears is closing prices below solid technical support at $21.00. Bulls' next upside price objective is producing a close above solid technical resistance at $22.50 an ounce. First resistance is seen at today's high of $21.775 and then at $22.00. Next support is seen at $21.50 and then at $21.25.

December N.Y. copper closed up 345 points at 363.15 cents today. Prices closed near the session high today and closed at a fresh 5.5-month high close. A weaker U.S. dollar boosted the copper market today. The copper bulls have the solid overall near-term technical advantage. Prices are in a four-month-old uptrend on the daily bar chart. Bulls' next upside objective is pushing and closing prices above solid technical resistance at the April high of 366.90 cents. The next downside price objective for the bears is closing prices below solid technical support at 345.00 cents. First resistance is seen at this week's high of 364.40 cents and then at 367.50 cents. First support is seen at 360.00 cents and then at today's low of 356.90 cents.

*. ENERGIES:

November crude oil closed down $0.41 at $76.11 a barrel today. Prices closed near mid-range again today. Bulls and bears are on a level near-term technical playing field. The next near-term upside price objective for the bulls is producing a close above solid technical resistance at the September high of $78.86 a barrel. The next near-term downside price objective for the crude oil bears is to produce a close below solid technical support at last week's low of $73.58. First resistance is seen at this week's high of $77.17 and then at $77.50. First support is seen at this week's low of $75.52 and then at $75.00.

November heating oil closed up 16 points at $2.1410 today. Prices closed near mid-range again today. Bulls still have the slight near-term technical advantage. Prices are in a four-week-old uptrend on the daily bar chart. The bulls' next upside price objective is closing prices above solid technical resistance at the September high of $2.1787. Bears' next downside price objective is producing a close below solid technical support at $2.0888. First resistance lies at today's high of $2.1640 and then at $2.1787. First support is seen at today's low of $2.1140 and then at $2.1000.

November natural gas closed up 4.5 cents at $3.961 today. Prices closed near mid-range again today and saw tepid short covering in a bear market. The bears still have the solid overall near-term technical advantage. Prices have seen a bearish downside "breakout" from a sideways trading range at lower price levels. The next upside price objective for the bulls is closing prices above solid technical resistance at the September high of $4.298. The next downside price objective for the bears is closing prices below solid technical support at $3.75. First resistance is seen at today's high of $4.01 and then at $4.10. First support is seen at Monday's contract low of $3.867 and then at $3.80.

Sell Cotton ~ Sell, Buy Gold, Oil, Cotton, Corn, Wheat Online

Sell Cotton

17:30:02

Sell cotton around $102-102.5

Target: $ 99.5-93.50

Crude Oil Buy Call

Buy Crude Oil: 5:06:52 PM

CMP: $76.33

Target 77.30-77.70

Today’s Out Look~ Gold, Silver, Copper, Crude Oil, Natural Gas, Heating Oil ~ Buying & Selling

METALS:

December gold futures closed up $9.80 at $1,308.40 today. Prices today closed near the session high, scored another fresh record high and scored a big and bullish "outside day" up on the daily bar chart--whereby the high is higher and low is lower than the previous day's trading range, with a higher close. A weaker U.S. dollar and safe-haven buying interest following some dour U.S. economic data today boosted gold. Gold bulls have the solid overall near-term technical advantage and gained more power today. There are still no early technical clues to suggest a market top is close at hand in the gold market. Prices are in a two-month-old uptrend on the daily bar chart. Bulls' next near-term upside technical objective is to produce a close above psychological resistance at $1,325.00. Bears' next near-term downside price objective is closing prices below solid technical support at today's low of $1,276.20. First resistance is seen at today's all-time high of $1,311.80 and then at $1,315.00. Support is seen at $1,300.00 and then at $1,290.00.

December silver futures closed up 25.9 cents at $21.73 an ounce today. Prices closed near the session high, hit a fresh 30-year high and also scored a big and bullish "outside day" up on the daily bar chart today. The weaker greenback today and the rally in gold boosted silver prices solidly higher. Silver bulls still have the solid near-term technical advantage. Prices are in a steep five-week-old uptrend on the daily bar chart. There are still no early technical clues to suggest a market top is close at hand. The next downside price objective for the bears is closing prices below solid technical support at $21.00. Bulls' next upside price objective is producing a close above solid technical resistance at $22.50 an ounce. First resistance is seen at today's high of $21.775 and then at $22.00. Next support is seen at $21.50 and then at $21.25. .

December N.Y. copper closed up 345 points at 363.15 cents today. Prices closed near the session high today and closed at a fresh 5.5-month high close. A weaker U.S. dollar boosted the copper market today. The copper bulls have the solid overall near-term technical advantage. Prices are in a four-month-old uptrend on the daily bar chart. Bulls' next upside objective is pushing and closing prices above solid technical resistance at the April high of 366.90 cents. The next downside price objective for the bears is closing prices below solid technical support at 345.00 cents. First resistance is seen at this week's high of 364.40 cents and then at 367.50 cents. First support is seen at 360.00 cents and then at today's low of 356.90 cents.

*. ENERGIES:

November crude oil closed down $0.41 at $76.11 a barrel today. Prices closed near mid-range again today. Bulls and bears are on a level near-term technical playing field. The next near-term upside price objective for the bulls is producing a close above solid technical resistance at the September high of $78.86 a barrel. The next near-term downside price objective for the crude oil bears is to produce a close below solid technical support at last week's low of $73.58. First resistance is seen at this week's high of $77.17 and then at $77.50. First support is seen at this week's low of $75.52 and then at $75.00.

November heating oil closed up 16 points at $2.1410 today. Prices closed near mid-range again today. Bulls still have the slight near-term technical advantage. Prices are in a four-week-old uptrend on the daily bar chart. The bulls' next upside price objective is closing prices above solid technical resistance at the September high of $2.1787. Bears' next downside price objective is producing a close below solid technical support at $2.0888. First resistance lies at today's high of $2.1640 and then at $2.1787. First support is seen at today's low of $2.1140 and then at $2.1000.

November natural gas closed up 4.5 cents at $3.961 today. Prices closed near mid-range again today and saw tepid short covering in a bear market. The bears still have the solid overall near-term technical advantage. Prices have seen a bearish downside "breakout" from a sideways trading range at lower price levels. The next upside price objective for the bulls is closing prices above solid technical resistance at the September high of $4.298. The next downside price objective for the bears is closing prices below solid technical support at $3.75. First resistance is seen at today's high of $4.01 and then at $4.10. First support is seen at Monday's contract low of $3.867 and then at $3.80.

Technical Outlook of Gold, Silver, Copper, Crude Oil, Natural Gas for Today

METALS:

December gold futures closed up $0.10 at $1,298.20 today. Prices today closed near mid-range in quieter trading as the market pauses and consolidates after setting a fresh all-time record high of $1,301.60 an ounce on Friday. A stable U.S. dollar today limited buying interest in gold. However, some fresh economic and financial worries coming out of the European Union did limit selling interest in gold. Bulls still have the solid overall near-term technical advantage. There are still no early technical clues to suggest a market top is close at hand in the gold market. The fact that volatility in the gold market has not increased significantly with prices in uncharted territory is another bullish clue and suggests the modest uptrend in prices can continue. Prices are in a two-month-old uptrend on the daily bar chart. Bulls' next near-term upside technical objective is to produce a close above psychological resistance at $1,325.00. Bears' next near- term downside price objective is closing prices below solid technical support at $1,270.00. First resistance is seen at the all-time high of $1,301.60 and then at $1,310.00. Support is seen at today's low of $1,295.80 and then at $1,287.50.

December silver futures closed up 5.1 cents at $21.45 an ounce today. Prices closed nearer the session low today but did hit a fresh 30-year high today. Silver bulls still have the solid near-term technical advantage. Prices are in a steep five-week-old uptrend on the daily bar chart. There are still no early technical clues to suggest a market top is close at hand. The next downside price objective for the bears is closing prices below solid technical support at last week's low of $20.515. Bulls' next upside price objective is producing a close above solid technical resistance at $22.50 an ounce. First resistance is seen at $21.50 and then at today's high of $21.645. Next support is seen at today's low of $21.365 and then at $21.25.

December N.Y. copper closed down 220 points at 359.60 cents today. Prices closed nearer the session low today and saw profit-taking pressure after hitting a fresh 5.5- month high early on today. The copper bulls still have the solid overall near-term technical advantage. Prices are in a four-month-old uptrend on the daily bar chart. Bulls' next upside objective is pushing and closing prices above solid technical resistance at the April high of 366.90 cents. The next downside price objective for the bears is closing prices below solid technical support at 345.00 cents. First resistance is seen at 362.50 cents and then at today's high of 364.40 cents. First support is seen at 355.00 cents and then at 352.50 cents.

*. ENERGIES:

November crude oil closed down $0.21 at $76.28 a barrel today. Prices closed near mid-range today. Bulls and bears are on a level near-term technical playing field. The next near-term upside price objective for the bulls is producing a close above solid technical resistance at the September high of $78.86 a barrel. The next near-term downside price objective for the crude oil bears is to produce a close below solid technical support at last week's low of $73.58. First resistance is seen at today's high of $77.17 and then at $77.50. First support is seen at today's low of $75.52 and then at $75.00.

November natural gas closed down 9.3 cents at $3.916 today. Prices gapped lower on the daily bar chart, hit a fresh contract low and closed near mid-range today. The bears have the solid overall near-term technical advantage and gained more power today as prices saw a bearish downside "breakout" from the recent sideways trading range at lower price levels. The next upside price objective for the bulls is closing prices above solid technical resistance at the September high of $4.298. The next downside price objective for the bears is closing prices below solid technical support at $3.75. First resistance is seen at $4.00 and then at $4.10. First support is seen at today's contract low of $3.867 and then at $3.80.

Corn is Giving Fresh Signal

Technical Details for Friday Trading

METALS: December gold futures closed up $2.20 at $1,294.30 today. Prices 
today closed near mid-range and scored a fresh all-time record high 
close. A stable U.S. dollar today and some better-than-expected U.S. 
housing data did limit the upside for gold today. Still, bulls have the 
solid overall near-term and longer-term technical advantage. There are 
still no early technical clues to suggest a market top is close at hand 
in the gold market. The fact that volatility in the gold market has not 
increased significantly with prices now in uncharted territory is 
another bullish clue and suggests the modest uptrend in prices can 
continue. Prices are in a two-month-old uptrend on the daily bar chart. 
Bulls' next near-term upside technical objective is to produce a close 
above psychological resistance at $1,300.00. Bears' next near-term 
downside price objective is closing prices below solid technical support 
at $1,270.00. First resistance is seen at the all-time high of $1,298.00 
and then at $1,300.00. Support is seen at $1,287.50 and then at $1,280.00.

December silver futures closed up 15.0 cents at $21.20 an ounce today. 
Prices closed near the session high, hit another fresh 30-month high and 
scored a bullish "outside day" up on the daily bar chart today. Silver 
bulls still have the solid near-term technical advantage. Prices are in 
a steep four-week-old uptrend on the daily bar chart. There are still no 
early technical clues to suggest a market top is close at hand. The next 
downside price objective for the bears is closing prices below solid 
technical support at this week's low of $20.515. Bulls' next upside 
price objective is producing a close above solid technical resistance at 
$22.50 an ounce. First resistance is seen at today's high of $21.265 and 
then at $21.50. Next support is seen at $21.00 and then at today's low 
of $20.885.

December N.Y. copper closed up 245 points at 358.95 cents today. Prices 
closed nearer the session high today and hit another fresh five-month 
high today. The copper bulls have the solid overall near-term technical 
advantage. Prices are in a four-month-old uptrend on the daily bar 
chart. Bulls' next upside objective is pushing and closing prices above 
solid technical resistance at the April high of 366.90 cents. The next 
downside price objective for the bears is closing prices below solid 
technical support at 339.30 cents. First resistance is seen at today's 
high of 359.95 cents and then at 362.50 cents. First support is seen at 
today's low of 355.90 cents and then at 352.50 cents.

*. ENERGIES: November crude oil closed up $0.21 at $74.92 a barrel 
today. Prices closed nearer the session high today and saw short 
covering after prices hit a fresh three-week low early on. Bulls and 
bears are on a level near-term technical playing field. The next 
near-term upside price objective for the bulls is producing a close 
above solid technical resistance at last week's high of $78.86 a barrel. 
The next near-term downside price objective for the crude oil bears is 
to produce a close below solid technical support at the August low of 
$71.49. First resistance is seen at today's high of $75.61 and then at 
$76.00. First support is seen at $74.50 and then at $74.00.
November natural gas closed up 6.0 cents at $4.156 today. Prices closed 
near mid-range today and saw short covering in a bear market. The bears 
still have the overall near- term technical advantage. The next upside 
price objective for the bulls is closing prices above solid technical 
resistance at last week's high of $4.298. The next downside price 
objective for the bears is closing prices below solid technical support 
at the contract low of $3.971. First resistance is seen at today's high 
of $4.25 and then at $4.298. First support is seen at today's low of 
$4.094 and then at $3.971.

Today’s Economic Outlook

Today at 12:45 pm this afternoon French manufacturing data and there after German manufacturing data will be released..Forecast data is similar with previous data. Bad data helpful for Gold

 

Similarly from 12:45 to around 3 pm afternoon series of data are there for Euro zone which counts more to market

 

At 6:15 pm US employment claims which was forecasted 1thousand more claims is another crucial data.......positive data may profit taking on Gold, negative data will instantly help to Gold rise

Existing US home sales forecast is higher… this data may cause some buying nature on USD which is again helpful for Gold

 

OIL

OIL on both daily and Weekly Chart in a crucial point of rise or fall...Sentiment is still negative on rising inventor.

 

Copper and Silver will move according to Gold

Today’s Outlook

METALS: December gold futures closed the day session down $6.00 at 
$1,274.60. However, in afternoon after- hours trading the market 
rebounded and scored a fresh all-time high of $1,290.40 in the wake of a 
bullish FOMC statement from the Federal Reserve that sunk the U.S. 
dollar and suggested more quantitative easing from the Fed is coming. 
Prices earlier saw profit-taking pressure and position evening in front 
of Tuesday afternoon's much-anticipated FOMC meeting statement from the 
Federal Reserve. Gold bulls have the solid overall near-term technical 
advantage. There are still no early technical clues to suggest a market 
top is close at hand. The fact that volatility in the gold market has 
not increased significantly with prices now in uncharted territory is 
another bullish clue and suggests the modest uptrend in prices can 
continue. Prices are in a seven-
week-old uptrend on the daily bar chart. Bulls' next near-term upside 
technical objective is to produce a close above psychological resistance 
at $1,300.00. Bears' next near-term downside price objective is closing 
prices below solid technical support at $1,250.00. First resistance is 
seen at $1,290.40 and then at $1,300.00. Support is seen at $1,280.00 
and then at today's low of $1,272.00.

December silver futures closed the day session down 19.8 cents at 
$20.605 an ounce, but then rebounded in afternoon trading as the U.S. 
dollar sunk and gold rallied. Silver bulls still have the solid 
near-term technical advantage. Prices are still in a steep four- 
week-old uptrend on the daily bar chart. There are still no early 
technical clues to suggest a market top is close at hand. The next 
downside price objective for the bears is closing prices below solid 
technical support at $20.00. Bulls' next upside price objective is 
producing a close above solid technical resistance at $22.50 an ounce. 
First resistance is seen at last week's high of $21.025 and then at 
$21.25. Next support is seen at $20.62 and then at today's low of $20.515.

December N.Y. copper closed down 195 points at 348.50 cents today. 
Prices closed nearer the session low on profit-taking pressure. The U.S. 
dollar index was weaker today, which did limit the downside in copper 
again today. The copper bulls still have the overall near-term technical 
advantage. Bulls' next upside objective is pushing and closing prices 
above solid technical resistance at the April high of 366.90 cents. The 
next downside price objective for the bears is closing prices below 
solid technical support at 339.30 cents. First resistance is seen at 
350.00 cents and then at today's high of 352.80 cents. First support is 
seen at today's low of 347.25 cents and then at 345.00 cents. .

*. ENERGIES: November crude oil closed down $1.10 at $75.09 a barrel 
today. Prices closed nearer the session low today. Bulls and bears are 
on a level near-term technical playing field. The next near-term upside 
price objective for the bulls is producing a close above solid technical 
resistance at last week's high of $78.86 a barrel. The next near-term 
downside price objective for the crude oil bears is to produce a close 
below solid technical support at the August low of $71.49. First 
resistance is seen at $75.50 and then at today's high of $76.37. First 
support is seen at $74.50 and then at $74.00.

November natural gas closed up 7.1 cents at $4.076 today. Prices closed 
near mid-range today. The bears still have the overall near-term 
technical advantage. The next upside price objective for the bulls is 
closing prices above solid technical resistance at last week's high of 
$4.298. The next downside price objective for the bears is closing 
prices below solid technical support at the contract low of $3.971. 
First resistance is seen at this week's high of $4.169 and then at 
$4.298. First support is seen at $4.00 and then at $3.971.

Market may change after to-night

US Dollar index fell 0.40 % today .Euro gained against USD and Yen . This cause Gold to return back from 1273-1280 again. Whole world is waiting for FED new policy,,,,,people believe that there is no increase in interest hence USD going down, this will cause commodity price higher,In other case, some people believe that FED policy may deteriote market too ? Sell ? no idea yet , so traders who are waiting to take new position can hold right now to see the direction

 

OIL

November brent OIL is trading at 79$ today.......lower USD pushing OIL higher,,, this will increase the price of OIL later but fall of Copper and Gold may keep oil price pressured below 75$,,,,,,american consumer confidence is keeping oil price below,,,but FED good outlook on Economy can support crude oil price above 75$....If Fed could come with old natural guessed policy OIL will rise,,,,difficult time for OIL but now it wants to grow,,,,,,,,,we believe market will have good correction if news come bad..from FED..........all is well all is FED today

 

Copper

 

Copper can fell if US housing starts came negative. In other case Chinese authorities warned URBAN home dealers to make housing price reasonable,,( it is too much high ) They may impose higher tax. But investors are believing that Housing start in US in the month of Aug has done well, Japanese and Chinese import of raw copper is higher so price will sustain...Currently Copper is fighting whether to be above 350 or below of it.........so any small bad news can give heavy correction on copper and silver so those who wants to buy copper just wait to see correction if didn't fell change your policy to sell at 355 and above

If copper fell there is good support at 342$

 

Gold

Gold is hero now,,,,,if gold fell or so correction of 10-20 $ all oil copper and silver will fail. Look at how gold is performing,,,,,,,,, if gold is falling look at which other commodity is selling more ,,,check its technical points and buy them , but Long term Gold will rise higher and there will be plenty of buying pressure at dip points,,,,,,,,,Today's Gold closing is very important,,,,currently Gold showing that it will rise to 1290$ if didn't go down below 1275 today......

Silver is on Buy Signal at Daily Chart

Silver

 
 

 
 

 

 
 

 
 

 
 

 
 

 
 

 
 

Screen clipping taken: 9/2/2010, 7:33 AM