Wednesday’s trading range of all major markets
Dear Members,
Tuesday all major markets traded as predicted. From onward uncertainty will dominate in few commodities.
METALS
We don’t recommend any buying in metals. One should be out from buying positions and those who like to keep long position in silver should sell gold as hedging positions.
Here is Wednesday’s range:
GOLD: $1623.20 to $1605.90
SILVER: $28.32 TO $27.63
COPPER: $344.05 TO $337.90
PALLADIUM: $595.00 TO $583.90
PLATINUM: $1421 TO $1409
SOFT COMMODITIES
Stay long in cotton, avoid other soft commodities.
Wednesday’s trading range:
COFFEE: $176.90 TO $172.30
COTTON: $71.77 TO $69.95
COCOA: $2389 TO $2345
SUGAR: $22.90 TO $23.34
ORNAGE JUICE: $111.50 TO $108.10
INDEXES
Wait and watch market trend after fed announcement. We recommend buying on weaker trend on tomorrow; today you should just trade in and out in predicted range. Down side is very limited from here onward so get to buy (we will send alert).
Wednesday’s trading range (September 2012 contract):
AUSTRALIAN (Cash) – 4293 to 4165
NIKKEI – 8690 TO 8552
NIFTY S&P (Spot) – 5239 TO 5190
SINGAP0RE (cash) – 3050.7 TO 3012.00
HONG KONG (cash) – 19791 to 19575
CAC – 3302 TO 3253
DAX – 6829 TO 6701
FTSE – 5637 TO 5559
S&P – 1383.75 TO 1362.75
NASDAQ – 2649.5 TO 2610
RUSSELL – 793.50 TO 778.25
DOW – 13001 TO 12883
GRAINS
Volatility will still continue in grains. As predicted grains are trading in huge intraday trading range so take shorter term trade for day only as per mentioned in daily flash range. We are not advising to short soy, meal or corn. Yesterday we recommended selling wheat and buy corn provided good return as wheat fell more than 21 dollar.
Wednesday’s trading range (September contracts):
CORN: $818.75 TO $800.00
WHEAT: $899.25 TO $877.5
RICE: $15.72 TO $15.45
SOY: $1679.25 TO $1615.75
SOY MEAL: $524.25 TO $512.00
SOY OIL: 53.51 TO $52.25
ENERGY
There will be a mix trend in oil and gas but Treasury bond may gain for short period.
Wednesday’s trading range:
OIL: $89.19 to 86.53 September contract
NATURAL GAS: $3.31 to $3.14 August contract
TREASURY BOND – 152-02 TO 150-21 (Sep contracts)
CURRENCIES
All major currencies will trade lose against USD, but trade in and out on a daily basis.
Wednesday’s trading range (September contract).
DOLLAR INDEX – 83.01 to 83.52
AUSTRALIAN DOLLAR – 1.0480 to 1.0402
CANADIAN DOLLAR – 0.9973 to 0.9938
BRITISH POUND – 1.5750 to 1.5623
EURO – 1.2350 to 1.2232
JAPANESE YEN – 1.2838 to 1.2779
SWISS FRANC – 1.0289 to 1.0197
RUPPEE – 55.86 TO 55.38
RAND – 8.26 to 8.17
We highly recommend referring our weekly newsletter detail out of all major financial markets (commodities, currencies & Indexes) for overall trend of week.
Thanks & God Bless,
Mahendra Sharma
Wednesday 7.10 AM, Mumbai, India