Wednesday’s trading range of all major markets
Dear Members,
Monday and Tuesday passed with negativities, Wednesday also will remain uncertain. We are very close to our lower side target 1318 for S&P, so get ready to take very small position in indexes on today’s weakness.
METALS
Metals traded as mentioned in newsletter: Tuesday also metals will struggle but downside will remain limited on Tuesday as per our newsletter.
Late Wednesday will be good time for take very small position for Thursday in metals because in this week newsletter we mentioned that Tuesday and Thursday would remain bit positive for metals.
Here is Wednesday’s range:
GOLD: $1589.20 to $1575.10
SILVER: $27.29 TO $26.70
COPPER: $338.75 TO $332.70
PALLADIUM: $566.00 TO $555.90
PLATINUM: $1395 TO $1377
SOFT COMMODITIES
Coffee fell sharply on Tuesday, down side is limited from here. Stay long in cotton, avoid other soft commodities.
Wednesday’s trading range:
COFFEE: $179.90 TO $173.80
COTTON: $71.11 TO $69.65
COCOA: $2239 TO $2175
SUGAR: $23.75 TO $23.03
ORNAGE JUICE: $111.50 TO $108.10
INDEXES
This is what we mentioned yesterday: S&P may hold 1318, otherwise trade in and out. Buy emerging markets.
Thursday markets should move up so take some opportunity of buying as predicted around Astro support levels.
Wednesday’s trading range (September 2012 contract):
AUSTRALIAN (Cash) – 4159 to 4132
NIKKEI – 8510 TO 8359
NIFTY S&P (Spot) – 5155 TO 5109 (Buy nifty)
SINGAP0RE (cash) – 3002.7 TO 2982.00
HONG KONG (cash) – 19121 to 18795
CAC – 3110 TO 3045
DAX – 6439 TO 6332
FTSE – 5501 TO 5419
S&P – 1339.75 TO 1320.75
NASDAQ – 2579.5 TO 2537
RUSSELL – 775.50 TO 757.25
DOW – 12609 TO 12453
GRAINS
Monday and Tuesday grains fell sharply as mentioned, Thursday will be right day to acquire some positions.
Wednesday’s trading range (September contracts):
CORN: $808.75 TO $775.00
WHEAT: $905.25 TO $866.5
RICE: $15.36 TO $15.01
SOY: $1630.25 TO $1579.75
SOY MEAL: $505.25 TO $482.00
SOY OIL: 52.71 TO $51.55
ENERGY
Oil help well yesterday as predicted, today oil may trade mix. Today is best day to sell thity year bond. Sell natural gas.
Wednesday’s trading range:
OIL: $89.29 to 87.12 September contract
NATURAL GAS: $3.25 to $3.08 Sep contract
TREASURY BOND – 153-21 TO 151-20 (Sep contracts)
CURRENCIES
Today one can trade in out in currencies, buy emerging market currencies.
Wednesday’s trading range (September contract).
DOLLAR INDEX – 84.27 to 83.87
AUSTRALIAN DOLLAR – 1.0228 to 1.0132
CANADIAN DOLLAR – 0.9823 to 0.9753
BRITISH POUND – 1.5565 to 1.5445
EURO – 1.2112 to 1.2021
JAPANESE YEN – 1.2818 to 1.2759
SWISS FRANC – 1.0108 to 1.0019
RUPPEE – 56.21 TO 55.69
RAND – 8.56 to 8.42
Thanks & God Bless,
Mahendra Sharma
Wednesday 8.20 AM, Delhi, India