Today’s Trading shah.ashok@live.com

Today's Trading shah.ashok@live.com

Copper Exposre | Ndex

Buy @ NRs 608.3

Target @ NRs 611.5

Projected Profit NRs- 16000

Sell Copper @ 620 NRs

Sell Copper Dec @ NRs 620 | Target 600-590-580

Copper Dec is looking weak at 620-621 Range. Trader can sell copper at this point as safe trading. Target 600-580 Intraday.

Technical Outlook for Friday 11/19/2010

METALS:

December gold futures closed up $15.60 an ounce at $1,352.50 today. Prices closed nearer the session high today and were supported on barbain-hunting buying interest, a weaker U.S. dollar and higher crude oil prices. Some near-term technical damage has been inflicted recently. However, a bullish weekly high close on Friday would repair most of that damage and provide the bulls with some fresh upside near-term technical momentum to suggest the recent uptrend on the daily bar chart can be restarted. Bulls' next near-term upside technical objective is to produce a close above technical resistance at the October high of $1,388.10. Bears' next near-term downside price objective is closing prices below solid technical support at $1,315.60. First resistance is seen at today's high of $1,359.00 and then at $1,366.00. Support is seen at $1,350.00 and then at $1,340.00.

December silver futures closed up 138.0 cents at $26.89 an ounce today. Prices closed near the session high today and saw strong bargain-hunting buying interest and short covering. The key "outside markets" were in a bullish posture for silver today, as the U.S. dollar index was lower, while crude oil and the U.S. stock indexes were higher. Recent near-term chart damage was mostly repaired with today's strong gains. A bullish weekly high close on Friday would provide the bulls with better upside technical momentum. Silver prices at present are still in a 3.5-month-old uptrend on the daily bar chart. The next downside price objective for the bears is closing prices below solid technical support at this week's low of $24.98. Bulls' next upside price objective is producing a close above solid technical resistance at $28.00 an bounce. First resistance is seen at today's high of $27.04 and then at $27.50. Next support is seen at $26.50 and then at $26.00.

December N.Y. copper closed up 985 points at 382.80 cents today. Prices closed nearer the session high today on short covering and bargain-hunting buying interest. The key "outside markets" were in a bullish posture for copper today, as the U.S. dollar index was lower, while crude oil and the U.S. stock indexes were higher. Some near-term chart damage has been inflicted in copper recently. However, a bullish weekly high close on Friday would repair much of that near-term technical damage. Bulls' next upside objective is pushing and closing prices above solid technical resistance at this week's high of 395.35 cents. The next downside price objective for the bears is closing prices below solid technical support at this week's low of 360.65 cents. First resistance is seen at today's high of 384.55 and then at 387.50 cents. First support is seen at 380.00 cents and then at 376.80 cents.

*. ENERGIES:

December crude oil closed up $1.58 at $82.02 a barrel today. Prices closed near the session high today and saw bargain hunting and short covering. A weaker U.S. dollar and higher stock market boosted crude today. Near-term technical damage has been inflicted in crude oil recently to still suggest a near-term market top is in place. The next near-term upside price objective for the bulls is producing a close above solid technical resistance at $85.00 a barrel. The next near-term downside price objective for the crude oil bears is to produce a close below solid technical support at $78.00. First resistance is seen at $82.67 and then at $83.00. First support is seen at $81.00 and then at today's low of $80.45.

 

December natural gas closed down 1.9 cents at $4.011 today. Prices closed near the session high today. A bearish weekly storage report reminded traders of the bearish near-term supply and demand undamentals in this market. The bears 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 $4.249. The next downside price objective for the bears is closing prices below solid technical support at the contract low of $3.50. First resistance is seen at $4.10 and then at $4.20. First support is seen at $3.90 and then at today's low of $3.853

Recent Market Comments

Today again.......USD index is going up side...recovery seen at support...gold and silver can fall again...good res. for silver is day and also for gold.....but no sell call is open from our side... but expecting $25.90 in silver and $1345-36 in gold....

Have a happy trading

Jobless Claim Reports

Report	This Week	Previous
Jobless Claims	439 K	435K

 
Jobless Claims slightly rose by 4000 this week but fewer than forecasted.

Fundamental Comment:

Market may go sideways

Crude May try to kiss $ 90-103

Energy Report

Energy	Stock (This Week)	Stock (Previous Week)
Crude Oil	-7.3 M	-3.3 M

 

Fundamental Comment:

Crude may try to kiss $ 90-103 in the coming days. 81-83 Range is best buying for long position.

Buy Crude Oil around $82.10

Crude	Buy
Entry Price	$ 82.10
Target 1	$ 83.50
Target 2	$ 84.20
Stop Loss	Below $ 81.15

Buy Gold Around $ 1356

Gold	Buy
Entry Price	$ 1356
Target 1	$ 1362
Target 2	$ 1365
Stop Loss	Below $ 1352

Buy Crude around $82.50

Crude	Buy
Entry Price	$ 82.50
Target 1	$ 83.50
Target 2	$ 84.20
Stop Loss	Below $ 81.15

Buy Copper around$378.50-3.795

Copper	Buy
Entry Price	$3.795-3.785
Stop Loss	Below $ 3.76
Target1	$3.83
Target 2	$3.87
Validity	Intraday 1-2 Days

Sell Gold Around $ 1360-62

Sell gold around $1360-62

SL: above $1366

Target: $1353-1348-1343

Sell Silver around $ 24.90-24.85

Sell Silver around $ 24.90-24.85

Target: $24.56-24.35

SL: above 25.10