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First, read my yesterday published newsletter: click here
I had said, “Lead is best for this week… Targets: 133.5 – 132”
Lead made low 133.35 @ 4:00PM (GTM 5:30+)”
The lead first target was achieved!
I hope everybody booked profit!
Will it hit second target 132?
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The silver nerve is, 38600 level. If it closes above it, then we may see 39360-39800 above levels. But… if silver will remain below to 38600 levels then sell. Targets: 37000 – 36000 levels.
Today we’re not going to write a single line about MCX Gold because I already said you in the previous newsletter about Gold direction. Click here and read it now!
In the previous newsletter (click here to read) I had clearly said, “Crude oil is safe for short-term/long-term investors until it remains above 2940 level. Because 2940 level is indicating, it can go upside from here. And also it may hit 3030 – 3100 level again!”
Crude oil also touched both levels!
This week… what will happen?
Crude oil head is, 3170 level. If it closes above it then crude oil go more upside and if it will remain below the head then we will see 2960 – 2870 levels soon.
I would recommend keeping note my levels because it tells stories!
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If we see Major commodities by Top Losers then crude oil took the 1st place. It lost -212 rupees (-6.20%). Natural gas also dropped on warm weather predictions. In my previous weekly newsletter (click here to read), I had said, “if it (crude oil) will remain down and close below to 3400 level then sell for 3300-3200 for next week!”
And as I said, “crude oil made low 3195 and closed at 3208 in loss -93 rupees (-2.82%)”.
I hope, everybody booked profit at 3200 level (Earned Rs.20,000/lot) in last trading session!
Where crude oil go now? Keep reading… The answer is below!
Futures-based ETPs: Precious Metals -1.04%, Industrial Metals -0.32%, Energy -6.64% and Agriculture -2.08%.
In last week all major commodities were down and Gold & Aluminium tried best to remain upside. Look at bottom of this article for weekly MCX Top gainers and Top losers.
Is Silver Best for Sell Today?
Someone asked during the phone call, where gold will go? while I was saying everybody SELL Crude oil. Opportunity is most important. If anyone thinks, GOLD is my favorite and I want to trade daily in Gold then I don’t think it works all the time! You must jump on the right commodity at right time!
Silver is better than gold in this week.
If it will crossover and close below to 41160 level then you can sell for 40952 – 40760 levels.
What will happen if it will remain above last trading session high? To become a subscriber, subscribe to our free newsletter services. Our service is free for all.
The lead had lost -5.6 rupees in last week and closed 139.10 level. You must check my previous week newsletter to study Lead chart by click here.
MCX lead had broken uptrend line and it can go more down from here if we see closing below 139 level.
On this week, the lead may go downside up to 134 – 132 levels if it runs as above mention.
Do you think nickel will more down this week?
I think silence is the best answer. Read my previous week newsletter by click here.
Crude oil is running very fast downside. It can take some rest and may try to run 3300 this week. I will not say perfect entry level this week.
…But Crude oil will hit 3170-3140 levels soon.
It’s very hard to decide which direction bullion commodities will go now because Shanghai-based bullion bank said, “If Trump is to perform some military action against North Korea, gold will definitely reach $1,300.” After Trump’s victory bullion commodities are going upside and metal commodities are going down. Look at the broad-based ETPs heatmap to understand last week games and that’s clearly indicating Precious Metals & Energy was positive and Industrial metals was weak.
Above COMEX market wrap-ups can help you to understand the MCX previous week movement. You may see last week Top Gainers & Top Losers below to get how that impacted:
| TOP GAINERS | TOP LOSERS | |||||
| Silver | 1192 | 2.88% | Nickel | -30.1 | -4.58% | |
| Silver mini | 1183 | 2.86% | Nickel mini | -30 | -4.57% | |
| Silver micro | 1178 | 2.85% | Copper | -9.85 | -2.62% | |
| Gold | 725 | 2.53% | Copper mini | -9.7 | -2.58% | |
| Gold mini | 708 | 2.47% | RBDPMOLEIN | -13 | -2.39% | |
| Gold petal | 54 | 1.86% | Aluminium | -2.65 | -2.11% | |
| Crude oil mini | 62 | 1.85% | Alimini | -2.6 | -2.07% | |
| Crude oil | 61 | 1.82% | Zinc | -3.35 | -1.95% | |
| Gold guinea | 396 | 1.70% | Zinc mini | -3.35 | -1.95% | |
| Cotton | 80 | 0.39% | Cardamom | -21.3 | -1.53% | |
| Natural gas | -2.9 | -1.38% | ||||
| CPO | -4.9 | -0.94% | ||||
| Lead | -0.45 | -0.31% | ||||
| Lead mini | -0.45 | -0.31% | ||||
| Mentha oil | -3 | -0.30% | ||||
Previous week MCX Top Three Gainers(in Mega) was Silver (2.88%), Gold (2.53%) & Crude oil (1.82%) and Top Three Losers(in Mega) was Nickel (-4.58%), Copper(-2.62%) & RBDPMOLEIN(-2.39%).
Moneymunch received so many comments & emails about Gold & Silver next moves. As per reader request, I should say 29000 to 29800 levels range are a trap for short-term/long-term investors. You must keep playing intraday trading between this range. If gold will break this range then my email will come in your inbox.
But if we talk about Silver then I should say buy at/above 42700 level after closing, for 43000-43400 levels.
CLICK BELOW “READ MORE” BUTTON TO READ CONTINUE… MCX GOLD, SILVER, CRUDE OIL, NICKEL & LEAD TECHNICAL REPORT…
Did you know what I said about Gold and Silver on last Friday report?
If you forget, then click here and remind now!
I had written about Gold “You can sell gold below 28474 for 28320 – 28160 levels.”
