03 Janurary 2013
Commodity market
Gold found solid support at 1635-1650 (low of 1635.10) and has recovered into resistance zone of 1690-1705 (high at 1694.70); back-and-forth moves within the set range of 1635/1650-1690/1705 was triggered by negative sentiments into “fiscal cliff” deadline followed by relief rally post meaningful resolution thereof. What next? The immediate term risk is for extension of relief rally above 1703 into 1723 which should hold to retain current consolidation mode. On the other side, it may not be easy to take out strong support zone of 1635-1650. For today, let us watch 1670-1705 with bias into higher end. The trading strategy is to trade end-to-end. Strategic players can stay away for break-out and it would be good risk-reward to sell in 2 lots at 1705/1720 and buy in 2 lots at 1655/1640 with tight affordable stop.
NYMEX Crude has extended its rally from 85.21 to 93.87 since mid December and seen to be firmly into 90-95 consolidation, higher end of set 2013 trading range of 65/75-95/100. The immediate term is risk for extension of this relief rally beyond 93.66-93.87 into 100.42 before sharp reversal. For today, let us watch 90.50/91.85-95.90/97.15 with bias into higher end. The trading strategy is to trade end-to-end. Strategic players can stay away for break-out of 90-97 range and it would good risk-reward to sell in 2 lots at 98.50/100 and buy in 2 lots at 88.50/87.00 with tight affordable stop.
Have a great day ahead and Good luck.........................Moses Harding
I like your profitable idea of commodity. Now I want to trade in commodity market. But it is risky market but profitable. so please tell me which is the best time of investment like buy or sell.
ReplyDeleteBest Regards,
Gurleen Singh
All markets are risky and all times are best times! Higher probability of success depends on how best you balance the risk and reward. With 5 times leverage on the capital (and 1/5th of the capital as stop loss for single trade)can give good returns (if all the first 5 trades go wrong, then you lose your capital which is the maximum downside risk).
ReplyDeleteTrading market is like a gamble. It depends upon you how you play this game. If you will play it wisely then you can make money otherwise you will loss money. Before investing always think yourself & also consult with experts so that you may know which trades are best at that time. We always listen that many peoples loss their money, whats the reason behind this ? Actually they want to earn money instantly so they loss. But if someone play it wise he surely earn profit.
ReplyDeleteThanks for sharing this great article! That is very interesting I love reading and I am always searching for informative information like this. commodity trail
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