WE Commodities

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WE Commodities, a subsidiary of WE Financial Services Limited, a full service Brokerage & Investment Advisory firm established in 1993, is a member of Pakistan Mercantile Exchange (PMEX).

12/01/2012

Important Announcement:

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-- Guarantee of Purity by Exchange
-- 100% Security
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22/12/2011

Crude Oil: Crude Oil Round-Up

By the Grace of Almighty, our technical saw yet another day with 100% accuracy.

We suggested buying Oil around 97 targeting 98.5 and 99 levels. Went to the low of 96.8, made a high of 99.2 and closed at 98.7

The oil inventory in US dropped by 10.57 Million Barrels last week, the Energy Department said yesterday. This decline was the most in a decade it pushed the prices to fresh weekly highs despite all the markets were in red zone.

Outlook for the Day:

We are still bullish in Crude Oil as long as 96 level support is there, however, the Key Events today, including UK & US GDP and US Jobless Claims would be driving oil prices.

Hence we suggest to close the long positions around 98.5 - 99 area and wait till the data is revealed for further moves.

Support: 98 97.20 96.30 95.80
Resistance: 99 99.80 100.50 101.2

22/12/2011

Gold: Market Round-Up:

The Yellow Metal saw another choppy session after two so-called calmed ones.

It went to the first major resistance area of 1645, in-fact traded at 1642 before having a brutal sell-off and dropped to 1622 within next five minutes.

Once again the metal was driven by Euro-Dollar Game.

The metal saw a high of 1642, low of 1607 and closed at 1613.

Outlook for the Day:

As discussed earlier, Gold seems to have lost the investors' confidence, temporarily, and it has to break and hold major resistances and barriers of to regain the momentum.

Otherwise, we remain neutral with sell on strength strategy as long as 1645-1665 important area acts as major resistance. However, break of major support area of 1605-1600 area would definitely turn our bias to negative with 1575 and 1550 levels as next targets.

On Intra-day basis, buying gold around 1610 - 1605 level targeting 1625 and 1630 area, with stop-loss below 1595 Or, Selling at highs around 1635 - 1645 targeting 1620 area with stop-loss above 1655 level is suggested.

Support: 1600 1585 1570
Resistance: 1625 1640 1665

22/12/2011

Key Data Events:

United Kingdom: 1430 PST
Gross Domestic Product
Total Business Investment

United States: 1830 PST
Gross Domestic Product
Jobless Claims

21/12/2011

WE Comm Outlook

Gold: Gold has shown some upward move since Tuesday and is currently hovering around the technical resistance levels of 1625 an ounce.

Weaker Dollar, positive steps by ECB on Bond Buying and unexpected Business Confidence Data from Germany were the key factors that pushed the prices up.

To conclude, we expect a bullish move from here in yellow metal as long as 1575 support area is in-tact and our next target is 1640 - 1650 area with 1665 being major area of resistance which Gold has to break and hold in-order to regain bullish outlook.

Buying on dips around 1615 & 1605 level is suggested targeting 1640 area first with stop-loss below 1600.

Support: 1610 1600 1585
Resistance: 1630 1645 1665

Silver: Silver suggested yesterday, traded with bullish move and closed right at our level 2 target of 29.6.

The gray is currently is green zone and next target for Bulls is the 30.5 level resistance, break of which will pave path for 31.3 and 32 level area.

Buying on dips around 29 & 28.8 level is suggested with stop-loss below 28.

Support: 29 28.7 28.10
Resistance: 30 30.4 30.9

Crude Oil: The Black Gold broke all the resistances and negated all the bearish outlooks yesterday. Thanks to the upbeat US & German data.

The American Petroleum Institute's data has acted as Cherry on the Cake by showing a decline of 330 Million Barrels in the inventory, the lowest since January 22, 2010. The Energy Department's data is due at 2030 PST today which is expected to show shortage of 2.8 Million Barrels.

Crude Oil has now entered Bull Zone and further upside moves are expected. However, the movement is expected to be limited at 101 area resistance and bring another fall.

To conclude, let us enjoy the bull market and buy on dips around 97 area targeting 98.5 level first and then 99 level with stop-loss below 96.

Support: 97.3 96.5 95.8
Resistance: 98 98.8 99.5

20/12/2011

Gold is off the highs and seems failing to get hold of the resistance....

Our Selling Strategy is Still Valid.

19/12/2011

Once Again our Technical Report has given 100% Accuracy

We suggested selling Crude Oil at 94-94.5 level targeting 93 and then 92.5 levels.

Crude Oil mad a high of 94.35 before having a slide and is now trading at 93.3

19/12/2011

For Gold, we suggested selling around 1600 - 1610 level and the metal reversed right from 1605. Now is trading at 1592

19/12/2011

Dow Jones Tech!!

Oil: Down
Sell below 93.85 with 92.30 and 91.80 targets.
Above 93.85 may rebound towards 94.90

19/12/2011

Dow Jones Tech!!

Gold: Range
Buy on Dips at 1562 targets at 1622 and 1640
Below 1562, 1547 and 1532 lelvel is next

18/12/2011

WE Comm Weekly Outlook - Gold

The Yellow Metal saw a violent sell-off last week before stabilizing a bit on Friday. The markets are likely to respond to European News, next week, rather than Economical News from around the world, including US GDP Figures.

Gold seems to have formed a bottom around 1560 – 1575 area as this level attracts physical buyers after a drop of 200 dollars from 1750 level. Now, the level to watch is the 1625 – 1650 level which is seen as the major resistance after being treated as major support.

Hence we expect the metal to consolidate in the coming week a little upward movement as long as 1575 support is there. However, the break of that support will open way to 1530 and 1500 psychological levels.

Buying of dips around 1580 level is suggested targeting 1605 level and then 1615 with stop-loss below 1560 is suggested.

Weekly Support: 1575 1550 1530 1505
Weekly Resistance: 1605 1625 1640 1665

18/12/2011

WE Comm Weekly Outlook - Crude Oil

Crude Oil, like other commodities, also had a massive sell-off last week and the prices failed to hold any support except for the 92.5 level on Friday.

The rise in Quota of supply by OPEC gave additional downward push to the already declining prices due to the European Crisis. The decline is still expected to continue in the week ahead with focus towards strong support at 89 level from where Crude Oil can see a rebound towards 96 level first.

Hence selling around 94 – 94.5 targeting 93 – 92.5 level first with stop-loss above 96 level is suggested for Monday.

Support: 92.5 91.30 90.5 89
Resistance: 94.5 95.8 96.50 97.80

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