Today’s Recommendation

Commodity/Period	Daily	4 Hourly	Strategy
Gold	Bullish	Bullish	Ignore Sell Signal & Buy on 1 Hourly Buy signal
Silver	Bullish	Bullish	Ignore Sell Signal & Buy on 1 Hourly Buy signal
Crude Oil	Side Way	Side Way	No Trade is recommended
Copper	Side Way	Side Way	No Trade is recommended

This is highly probable strategy. Place stop loss below than previous day’s low or above than previous day’s high for your protection.

Gold October Contract has been released. So trade for Gold October contract rather than August Contract. 

Technorati Tags: Commodity Buy Sell Siganl,Derivative Buy Sell Signal,Gold Buy Sell Signal,Crude oil Buy Sell Signal,Copper Buy Sell Signal

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Today’s Major Data

Today's Major Data: (www.fwfutures.com)

• Us Job Data || Positive
  
• Core PPI || Positive
  

 

Fundamentally

Crude will go up

Copper will go up

Rest let the market to set trend! And follow the technical (graphical) pattern.

Gold at Life time High

Far west Futures! (Dhangadhi) Gold is trading at its life time high price. Gold is trading at $1592. Now gold is 10 dollar lower than its psychological target of US $ 1600. Have closer eye on Gold. Above $ 1600, it can go for some correction.

Weekly Opinion

Gold:

Our opinion is, staying aside until a clearer sign appears to pinpoint the upcoming big move.    

 

Silver:            
Our opinion is, selling silver around 34.35 gradually targeting 33.05,32.45 and 31.25, while the stop loss is a daily closing below 35.65 might be appropriate.

 

Crude Oil:

 Our opinion is buying oil around 89.85 targeting 90.70 and 91.50 and 92.30. Stop loss with hourly closing below 89.70 may be appropriate.

Breaking! Don’t trade on Crude oil for today

Breaking!

Dhangadhi, fwfutures.com, As EIA has decided to release 60 Million barrels crude stock it is on sell off. We strictly recommend no trade on crude oil for June 23, 2011. We will inform you whenever there is trading opportunity.

Weekly U.S. jobless claims climb to 429,000

WASHINGTON (MarketWatch) - U.S. applications for unemployment compensation rose by 9,000 to a seasonally adjusted 429,000 in the week ended June 18, the Labor Department said Thursday. Initial claims from two weeks ago were revised up to 420,000 from an originally reported 414,000. Economists surveyed by MarketWatch had expected initial claims for last week to total 415,000. The average of new claims over the past four weeks, meanwhile, was flat at 426,250 after taking the latest revisions into account. The monthly average is considered a more accurate measure of employment trends. The number of people who continued to receive unemployment checks edged down 1,000 to a seasonally adjusted 3.7 million in the week ended June 11. Continuing claims are reported with a one-week lag. A total of 7.54 million people received some kind of state or federal benefit in the week of June 4, up 137,220 from the prior week. Total claims are reported with a two-week lag