copper, chance to enter long for 4 points.

chart 2 , copper daily

Support & Resistance

As shown in the daily chart 329 is major support, if sustained below it, then next support is placed @ 317. But chances of bear move is less than bullish move. Resistance is placed near 340, if breach it then first tgt is 345 and after crossing it price can spark towards 370.

Hourly chart , intraday trading levels 

Study very carefully attached hourly chart, you can see circles named A-Z, A-Z, A-Z & A. Yes now we are @ 4th A, which is placed @ Rs 333.25. We can expect Z around 337 to 338 +. 

conclusion

One can go for buy @ cmp Rs 333.25 for the first tgt of 338 around, if price moves and sustain above 340 level then 345 followed by 369. But that is not intraday trading. Better is to book 3 to 4 points profits and enjoy to see sms of positive mtm on your mobile. Book profits regularly and use trailing sl method. Yesterday we did the same and booked profits. @ the end of the day price collapse to point A. Thank you, keep visiting, if you like the post or dislike it, please mention in comment box.

23/07/2016, crude bull bear power

crude daily chart, 23rd july, saturday.

Today is holiday for all exchanges, this is the chance for every trader to do homework. Today I selected bull & Bear power indicator tool. Look deeply @ black circles & you will find that when this bear power yellow color enter below 0 or minus area we get indication of future down trend and that is before the price actually move down in big way. Same thing is about the Bull power indicator. 

For example, count the last 12 candles in attached daily crude chart.  Look vertically down to bear power indicator, it is placed below 0, near around - 20. You will come to conclusion that bear power gave us clear indication of fall around Rs 3200 price level before actually fall starts in big way.

You can use it in your daily trading for intraday purpose also.

Important link --- fundamental & demand supply

According to market experts, elevated stocks of fuel products amid slowing global demand growth is expected to keep prices under pressure in the near-term....... http://www.investing.com/news/commodities-news/crude-oil-futures---weekly-outlook:-july-25---29-416227

Update - 1, 25/07/2016 

crude hourly chart,

We are in good profits now. Use trailing sl method to protect your profits, trail the sl in profits only. There are no chances that crude will return in to bullish zone. Any rally will be short lived. Use it to enter in short position. 

Look @ the attached chart. Bear power indicator is in full form. Enjoy profits with trailing sl method.