RSS Feed
Twitter
05:51
Niva Capital Advisory
GOLD:-
Gold futures witnessed heavy selling in last couple of weeks & has breached crucial support of 24990; but failed to close below the same. On the indicators: 14‐week RSI is still trading below 50 just above the over‐sold region, but below its moving average while momentum indicator MACD&deviation line are trading below zero ‐ both indicators suggest bearishness in trend.
On moving average: Prices are trading below &facing resistance on all their long‐term moving averages (SMA’s) on daily as well as weekly charts, indicating that trend remains down (100‐day SMA @27717, 200‐day SMA @29306&50‐day SMA 26901).
For near‐term, trend remains down till prices are trading below 26300 & Selling is advised on rallies targeting 25000 & 24000, Stop above 26300.(However, on breach above 26300 on closing basis, prices can rise up‐to 27000‐27500).
SILVER:-
As per the weekly chart above of Silver: prices have declined sharply, but recovered sharply in last session on short‐covering. However, analyzing the chart, it has been noticed that a break‐out above/ below 2‐weeks high/ low is seen as reversal in the short‐term trend (2‐week high now holds at 44250).
On the indicators: 14‐week RSI is trading below 30 in the over‐sold region, below its moving average & below the resistance line, indicating that the trend still remains bearish while momentum indicator MACD & deviation line are sloping downwards below zero ‐ both indicators are showing signs that trend remains bearish. On moving averages: prices are trading below all the long‐ term SMA’s & short‐term SMA’s on daily as well as weekly charts, indicating that the trend remains bearish. For the near‐term, we maintain our previous view & advice to roll‐over from July to Sept. futures OR re‐enter fresh shorts on
rise around 43500‐44000,for recommended targets of 40000&35000, with Stop above 44250.
COPPER:-
On the Indicators: 14‐week RSI is trading below 50, its moving average& has reversed slightly from resistance line (as marked on the chart), indicating that trend still remains down while momentum indicator MACD & its deviation line are trading below the mid‐zero line, but with a marginal positive difference, suggesting signs of shift in momentum. On moving averages: Prices are currently trading in between their 10‐week & 20‐week simple moving average (SMA) with the short‐term SMA below the long‐ term SMA, giving no clear direction to the trend. For the near‐term, trend still remains unclear; however prices hold immediate resistance at 413, above which it can test 426‐440 levels & holds support at 392.
NICKEL:-
On moving averages: Prices are currently trading below their 10‐week & 20‐week simple moving average (SMA) with the short‐ termSMA below the long‐termSMA, indicating thatthe trend remains down.
Forthe near term, trend remains down till prices are trading below 840&it is advised to sell on rallies for targets of 800, 775& last at 735, with strictstop above 840.(However on breach above 840, upside is expected till 870‐900 levels).
CRUDE OIL:- In the nearterm, prices are expected to move further higher only above 5880,till that time we expectsome correction towards 5600&5400 levels(as on daily chart, prices&indicators have shown divergence/reversal in trend).
Natural Gas:- As perthe weekly chart:Natural gasfutures are continuously moving higher&in a swing pattern, forming higher‐highs & higher lows. But in last couple of months prices have just consolidated & indicated signs on correction. The chart trend suggeststhat a break‐out above/ below 2‐weeks high/low isseen asreversal in short‐termtrend.On the indicators: 14‐week RSI istrading close to 50, below its moving average line & slightly below the support line while momentum indicator MACD & its deviation line are trading abovemid‐zero line, but with negative difference (Both indicators are suggesting a Downward Trend).
Onmoving averages: prices are trading below their 10‐week&20‐week Simple Moving Average (SMA), with the short‐termSMA trading above long‐termSMA, giving no clear direction.
Forthe near‐term, wemaintain our previous view to buy around 215‐218,targeting 235&250, with Stop below 210. However, on breach below209.5 we advice to exitlongs & add fresh sellfortargets of 180 & 160, with Stop above 230.
FOR MORE TIPS CONACT NIVA CAPITAL ADVISORY
WEBSITE:- www.nivaca.com
PHONE NUMBER:- +91 9036055-100/200/300
Gold futures witnessed heavy selling in last couple of weeks & has breached crucial support of 24990; but failed to close below the same. On the indicators: 14‐week RSI is still trading below 50 just above the over‐sold region, but below its moving average while momentum indicator MACD&deviation line are trading below zero ‐ both indicators suggest bearishness in trend.
On moving average: Prices are trading below &facing resistance on all their long‐term moving averages (SMA’s) on daily as well as weekly charts, indicating that trend remains down (100‐day SMA @27717, 200‐day SMA @29306&50‐day SMA 26901).
For near‐term, trend remains down till prices are trading below 26300 & Selling is advised on rallies targeting 25000 & 24000, Stop above 26300.(However, on breach above 26300 on closing basis, prices can rise up‐to 27000‐27500).
SILVER:-
As per the weekly chart above of Silver: prices have declined sharply, but recovered sharply in last session on short‐covering. However, analyzing the chart, it has been noticed that a break‐out above/ below 2‐weeks high/ low is seen as reversal in the short‐term trend (2‐week high now holds at 44250).
On the indicators: 14‐week RSI is trading below 30 in the over‐sold region, below its moving average & below the resistance line, indicating that the trend still remains bearish while momentum indicator MACD & deviation line are sloping downwards below zero ‐ both indicators are showing signs that trend remains bearish. On moving averages: prices are trading below all the long‐ term SMA’s & short‐term SMA’s on daily as well as weekly charts, indicating that the trend remains bearish. For the near‐term, we maintain our previous view & advice to roll‐over from July to Sept. futures OR re‐enter fresh shorts on
rise around 43500‐44000,for recommended targets of 40000&35000, with Stop above 44250.
COPPER:-
On the Indicators: 14‐week RSI is trading below 50, its moving average& has reversed slightly from resistance line (as marked on the chart), indicating that trend still remains down while momentum indicator MACD & its deviation line are trading below the mid‐zero line, but with a marginal positive difference, suggesting signs of shift in momentum. On moving averages: Prices are currently trading in between their 10‐week & 20‐week simple moving average (SMA) with the short‐term SMA below the long‐ term SMA, giving no clear direction to the trend. For the near‐term, trend still remains unclear; however prices hold immediate resistance at 413, above which it can test 426‐440 levels & holds support at 392.
NICKEL:-
On moving averages: Prices are currently trading below their 10‐week & 20‐week simple moving average (SMA) with the short‐ termSMA below the long‐termSMA, indicating thatthe trend remains down.
Forthe near term, trend remains down till prices are trading below 840&it is advised to sell on rallies for targets of 800, 775& last at 735, with strictstop above 840.(However on breach above 840, upside is expected till 870‐900 levels).
CRUDE OIL:- In the nearterm, prices are expected to move further higher only above 5880,till that time we expectsome correction towards 5600&5400 levels(as on daily chart, prices&indicators have shown divergence/reversal in trend).
Natural Gas:- As perthe weekly chart:Natural gasfutures are continuously moving higher&in a swing pattern, forming higher‐highs & higher lows. But in last couple of months prices have just consolidated & indicated signs on correction. The chart trend suggeststhat a break‐out above/ below 2‐weeks high/low isseen asreversal in short‐termtrend.On the indicators: 14‐week RSI istrading close to 50, below its moving average line & slightly below the support line while momentum indicator MACD & its deviation line are trading abovemid‐zero line, but with negative difference (Both indicators are suggesting a Downward Trend).
Onmoving averages: prices are trading below their 10‐week&20‐week Simple Moving Average (SMA), with the short‐termSMA trading above long‐termSMA, giving no clear direction.
Forthe near‐term, wemaintain our previous view to buy around 215‐218,targeting 235&250, with Stop below 210. However, on breach below209.5 we advice to exitlongs & add fresh sellfortargets of 180 & 160, with Stop above 230.
FOR MORE TIPS CONACT NIVA CAPITAL ADVISORY
WEBSITE:- www.nivaca.com
PHONE NUMBER:- +91 9036055-100/200/300
0 comments:
Post a Comment