Dear Friends,
Here is Friday's flashnews. Thanks & God Bless
Mahendra Sharma
Friday’s trading range of all major markets
Dear Members,
Thursday markets and metals underperformed against what we saw, but bit relief we got when they rebounded from low. Currencies remained mix and grains moved up.
METALS
This week has been most disappointing for metals, as they could have moved up on positive influence from planets but they remained weaker. We are still not losing hopes of Fridays rebound so we shall wait and watch. Both metals are holding most crucial Astro levels; Gold $1530 and silver $26.30.
Our Astro indications still recommending buying in precious and base metals, as these metals should remain in positive directions on Friday.
Take new trade on Monday after reading next week’s newsletter.
Here is Friday’s range:
GOLD: $1581.50 to $1560.90
SILVER: $27.57 TO $26.78
COPPER: $447.30 TO $340.10
PALLADIUM: $580.00 TO $573.90
PLATINUM: $1425 TO $1406
SOFT COMMODITIES
In the last two trading sessions coffee remained very volatile. Cotton remained in tight range but cocoa and sugar and juice came down. Cotton is best pick for short term in soft commodities.
Friday’s trading range:
COFFEE: $179.25 TO $185.80
COTTON: $70.79 TO $69.05
COCOA: $2219 TO $2165
SUGAR: $22.71 TO $22.02
ORNAGE JUICE: $125.1 TO $120.10
INDEXES
Uncertain trend in indexes will continue but we don’t see any major negativity so one can buy small positions on lower sides without fear.
S&P, FTSE and DAX will be great buy for today on weakness or around predicted low here below.
Friday’s trading range (September 2012 contract):
AUSTRALIAN (Cash) – 4128 to 4083
NIKKEI – 8800 TO 8678
NIFTY S&P (Spot) – 5217 TO 5255 (buy nifty)
SINGAP0RE (cash) – 2978.7 TO 2951.00
HONG KONG (cash) – 19251 to 19005
CAC – 3155 TO 3105
DAX – 6497 TO 6354
FTSE – 5635 TO 5548
S&P – 1321.75 TO 1338.75
NASDAQ – 2563.5 TO 2518
RUSSELL – 794.50 TO 778.25
DOW – 12603 TO 12435
GRAINS
Sell soy, meal, and soy oil on weakness as we see some corrections coming before they move toward historic high with corn.
Friday’s trading range (September contracts):
CORN: $744.75 TO $708.00
WHEAT: $862.25 TO $829.5
RICE: $15.21 TO $14.75
SOY: $1560.25 TO $1520.75
SOY MEAL: $463.25 TO $448.00
SOY OIL: 54.08 TO $53.12
ENERGY
Oil, gas and bond will trade mix today so trade in and out as mentioned here below. Today’s Astro indicators are very positive for oil so buy on weakness but remember to book profit on higher predicted range here below.
Friday’s trading range:
OIL: $87.02 to 84.93 August contract
NATURAL GAS: $2.98 to $2.75 August contract
TREASURY BOND – 152-01 TO 150-28 (Sep contracts)
CURRENCIES
Currencies will trade mix so trade in and out. Sell British pound, buy emerging market currencies against Pound, Yen and dollar.
Friday’s trading range (September contract).
DOLLAR INDEX – 84.07 to 83.48
AUSTRALIAN DOLLAR – 1.0143 to 1.0021
CANADIAN DOLLAR – 0.9867 to 0.9718
BRITISH POUND – 1.5472 to 1.5339
EURO – 1.2260 to 1.2165
JAPANESE YEN – 1.2668 to 1.2563
SWISS FRANC – 1.0215 to 1.0137
RUPPEE – 56.12 TO 55.70
RAND – 8.29 to 8.38
Best trade for today:
Buy indexes on weakness
Sell soy, soy meal, soy oil on any sharp rise
Thanks & God Bless,
Mahendra Sharma
Friday 6.30 AM, Mumbai, India