Monday’s trading range of all major markets
Dear Members,
Metals finally moved up on Friday. It was great relief because if they would have closed weak then it would have given the most negative indication for the shorter term outlook. Anyways, metals should trade as per the planetary movements now. Subscribe to our weekly Newsletter to know the weekly outlook
METALS
This is what we mentioned on Friday - 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.
On Monday metals trend will remain mixed so trade in and out.
Here is Monday’s range:
GOLD: $1578.70 to $1601.90
SILVER: $27.70 TO $27.11
COPPER: $355.30 TO $347.10
PALLADIUM: $590.00 TO $582.90
PLATINUM: $1452 TO $1426
SOFT COMMODITIES
Coffee and cotton moved up sharply on Friday as predicted. Stay long in cotton and coffee.
Monday’s trading range:
COFFEE: $188.10 TO $184.30
COTTON: $72.81 TO $71.05
COCOA: $2252 TO $2190
SUGAR: $23.01 TO $22.57
ORNAGE JUICE: $125.1 TO $121.60
INDEXES
This is what we mentioned on Friday: 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.
Keep buying stocks and indexes on the lower side. S&P may reach 1373 during this week.
Monday’s trading range (September 2012 contract):
AUSTRALIAN (Cash) – 4165 to 4128
NIKKEI – 8890 TO 8778
NIFTY S&P (Spot) – 5212 TO 5187 (buy nifty)
SINGAP0RE (cash) – 3002.7 TO 3028.00
HONG KONG (cash) – 19371 to 19175
CAC – 3216 TO 3168
DAX – 6609 TO 6510
FTSE – 5687 TO 5618
S&P – 1361.75 TO 1344.75
NASDAQ – 2601.5 TO 2565
RUSSELL – 806.50 TO 793.25
DOW – 12779 TO 12630
GRAINS
Grain provided great gains in the last six weeks. Stay away from grains at this stage, and we will buy them on weakness again.
Monday’s trading range (September contracts):
CORN: $753.75 TO $778.00
WHEAT: $866.25 TO $830.5
RICE: $15.41 TO $15.10
SOY: $1586.25 TO $1555.75
SOY MEAL: $471.25 TO $461.00
SOY OIL: 54.48 TO $53.65
ENERGY
Oil and natural gas will remain range bound. Thirty year bond prices will remain weaker so one can take selling positions.
Monday’s trading range:
OIL: $88.72 to 86.23 September contract
NATURAL GAS: $2.98 to $2.81 August contract
TREASURY BOND – 152-00 TO 150-21 (Sep contracts)
CURRENCIES
All major currencies will trade mixed, so trade in and out on a daily basis.
Monday’s trading range (September contract).
DOLLAR INDEX – 83.68 to 83.15
AUSTRALIAN DOLLAR – 1.0235 to 1.0117
CANADIAN DOLLAR – 0.9893 to 0.9818
BRITISH POUND – 1.5623 to 1.5501
EURO – 1.2319 to 1.2198
JAPANESE YEN – 1.2678 to 1.2579
SWISS FRANC – 1.0215 to 1.0137
RUPPEE – 55.39 TO 54.73
RAND – 8.26 to 8.15
Thanks & God Bless,
Mahendra Sharma
Sunday 10.20 PM, Mumbai, India