COPPER (APRIL)
SELL AROUND 424
TARGET 421 - 417.50
ONCE CROSS ABOVE 425.50
THEN EXIT SHORTS AND GO LONG
WITH STOP LOSS BELOW 421
FOR THE TGT OF 428.50 AND 431.70
BUY AROUND 417.50
TARGET 420.50 - 424
ONCE BREAKE BELOW 416
THEN EXIT LONGS AND GO SHORT
WITH STOPLOSS ABOVE 420.50
FOR THE TGT OF 413 AND 409.90
TECHNICAL VIEW
MORE COMMODITY CALLS
TECHNICAL VIEW
TECHNICAL TREND: BEARISH
MAS:HEVEY SELL+ IS:HEAVY SELL= SUMMARY:HEAVY SELL
Major Events for the day:
ReplyDeleteUS Core CPI m/m @ 6:00 PM (fore 0.2%; Prev 0.1%)
US Prelim UoM Consumer Sentiment @ 7:25 PM (fore 76.4; Prev 76.2)
US Fed Chairman Bernanke Speaks @ 8:30 PM
NEWS:
ReplyDeleteNorth Korea proceeded with a rocket launch early Friday morning in defiance of global opposition to such an act, but the attempt to send what the nation earlier described as a satellite into space appeared to have quickly failed, according to reports.
EUR: German Final CPI m/m: 0.3% VS 0.3%. IN LINE OF EXPECTATION
ReplyDeleteNEWS:
ReplyDeleteCME WILL CUT MARGINS FOR COMEX SILVER FUTURES FOR THE SECOND TIME SINCE FEBRUARY IN AN ATTEMPT TO BOOST LIQUIDITY AFTER A NARROW PRICE RANGE TEMPERED TRADING INTEREST. SILVER FUTURES MARGIN WILL BE CUT BY 12.5 PERCENT TO $18,900 PER CONTRACT FROM $21,600, AND THE MAINTENANCE MARGIN WILL BE LOWERED TO $14,000 FROM $16,000 PER CONTRACT, EFFECTIVE AFTER CLOSE OF BUSINESS ON APRIL 16. AND COMEX COPPER FUTURES INITIAL MARGINS WILL BE CUT BY 20 PERCENT TO $5,400 PER CONTRACT, AND THE NEW MAINTENANCE MARGIN WILL BE $4,000.
news:
ReplyDeleteIran's oil production could fall almost 15 percent this year due to reduced foreign investment, the U.S. Energy Information Administration (EIA) said in a report highlighting the growing strain on Tehran's oil sector even before factoring in the effect of new sanctions.
COPPER BUY @ 417.15
ReplyDeleteLME Inventories:
ReplyDeleteAluminium -7175
Copper -1675
Nickel -54
Lead -950
Tin +40
Zinc +2350
GOLD UPDATE:
ReplyDeleteEldorado Gold Expects To Produce 1.7 Million Ounces Of Gold Annually By 2016
EXIT LONGS @ 416 AND SHORTED @ 416
ReplyDeleteUS:
ReplyDeleteCore CPI m/m: 0.2% VS 0.1% CPI m/m: 0.3% VS 0.4% BULLION SUPPORTIVE
Prelim UoM Consumer Sentiment ==> 75.7 VS 76.2 Prelim UoM Inflation Expectations ==> 3.4% VS 3.9% BULLION
ReplyDeleteWILL NOT CARRY COPPER POSITION FOR TOMMROW.
ReplyDeleteCOPPER LOW MADE 411.45
HOLDING POSITIONS EXIT BEFORE MARKET CLOSING BASIS