Remembering The Summer Of 1929

Submitted by Jesse via The Burning Platform blog,

This is one of the best documentaries on the Crash of 1929 if you wish to get a feel for the times.   You may find it interesting to watch the whole thing below.I have posted the entire documentary twice before:  once, on the 80th anniversary of Black Thursday in 2009, and once before in December of 2007.

I remember the Summer of 1929 being described as unusually hot, with the stock market going up and down like a roller coaster, making investors and pundits almost dizzy.  That is, until the great push up to the very height of the market in early September.

It was the laissez-faire abuses of the 1920’s, the reign of supply side economics,  the institutionalized political corruption of easy money, an oversized,  overly influential and powerful financial/industrial sector that set the stage for the terrible Depression of the 1930’s.

It also gave rise to the many reforms introduced by the FDR administration.

Most of which have been steadily overturned, one by one, by the big money interests who care for nothing but themselves, and would do it again, and again, if allowed to do so.

Most of the scams of the moneyed interests are remarkably simple, and the same over time.  At least they are once you scrape away the jargon, the bells and whistles, and paid for policy theories of pedigreed prostitutes.

The titans of Wall Street are no smarter than many smart people who do much more difficult jobs and lead simple, honest lives. But they are driven, they are insatiable, and they are shameless.

Enough people are easily fooled in each generation by well scripted ideological PR campaigns, clever revisions and misrepresentations of history, and the steady drumbeat of slogans and propaganda to allow the same old scams and abuses to come back again.  And unfortunately even very smart and powerful and greatly advantaged people are always willing to do anything for money.

Here is a link to the transcript of this documentary.

Narrator: At sea and on land, everyone seemed to be making money. It was a stampede of buying. And major speculators like John Jacob Rascob whipped up the frenzy. He told readers of The Ladies’ Home Journal that now everyone could be rich. September 2nd, Labor Day. It was the hottest day of the year. The markets were closed and people were at the beach. A reporter checked in with astrologer Evangeline to ask about the future of stock prices. Her answer: the Dow Jones could climb to heaven. The very next day, September 3rd, the stock market hit its all-time high.

Ben Karol, Former Newspaper Delivery Boy: My father and I had an ongoing discussion about the stock market. And I used to say, “Pop, everybody’s getting rich but you. You know, you work so hard and you’re never going to make a nickel. All you do is you keep delivering these newspapers and that’s about it. The guy who’s shining shoes is in the stock market, the grocery clerk is in the stock market, the school teacher’s in the stock market. The teller at the bank is in the stock market. Everybody’s in the stock market. You’re the only one that’s not in the stock market.” And he used to sit and laugh and say, “You’ll see. You’ll see. You’ll see.”

Narrator: On September 5th, economist Roger Babson gave a speech to a group of businessmen. “Sooner or later, a crash is coming and it may be terrific.” He’d been saying the same thing for two years, but now, for some reason, investors were listening. The market took a severe dip. They called it the “Babson Break.” The next day, prices stabilized, but several days later, they began to drift lower. Though investors had no way of knowing it, the collapse had already begun

Narrator: In the weeks to follow, the market fluctuated wildly up and down. On September 12th, prices dropped ten percent. They dipped sharply again in the 20s. Stock markets around the world were falling, too. Then, on September 25th, the market suddenly rallied.

Reuben L. Cain, Former Stock Salesman: I remember well that I thought, “Why is this doing this?” And then I thought, “Well, I’m new here and these people” — like every day in the paper, Charlie Mitchell would have something to say, the J.P. Morgan people would have something to say about how good things were — and I thought, “Well, they know a lot more about this market than I do. I’m fairly new here and I really can’t see why it’s going up.” But then, when they say it can’t go down or if it does go down today, it’ll go back tomorrow, you think, “Well, they really are like God. They know it all and it must be the way it’s going because they say so.”

Narrator: As the market floundered, financial leaders were as optimistic as ever, more so. Just five days before the crash, Thomas Lamont, acting head of the highly conservative Morgan Bank, wrote a letter to President Hoover. “The future appears brilliant. Our securities are the most desirable in the world.” Charles Mitchell assured nervous investors that things had never been better.

Craig Mitchell, Son of Charles E. Mitchell: Practically every business leader in America, and banker, right around the time of 1929, was saying how wonderful things were and the economy had only one way to go and that was up.

“Running for President under the slogan “Rugged Individualism” made it difficult for Hoover to promote massive government intervention in the economy. In 1930, succumbing to pressure from American industrialists, Hoover signed the Hawley-Smoot Tariff which was designed to protect American industry from overseas competition. Passed against the advice of nearly every prominent economist of the time, it was the largest Tariff in American history. (at that time the US was a large export economy with a trade surplus).

Believing in a balanced budget, Hoover’s 1931 economic plan cut federal spending and increased taxes, both of which inhibited individual efforts to spur the economy.

Finally in 1932 Hoover signed legislation creating the Reconstruction Finance Corporation. This act allocated a half billion dollars for loans to banks, corporations, and state governments. Public works projects such as the Golden Gate Bridge and the Los Angeles Aqueduct were built as a result of this plan.

Hoover and the RFC stopped short of meeting one demand of the American masses — federal aid to individuals. Hoover believed that government aid would stifle initiative and create dependency where individual effort was needed. Past governments never resorted to such schemes and the economy managed to rebound. Clearly Hoover and his advisors failed to grasp the scope of the Great Depression.”

What side effects will U.S. rate hike trigger? Emerging markets, Europe will suffer - Analysts

Today central bankers, analysts and economists are gathering in Jackson Hole for their annual meeting. Two questions are on the top of the agenda: Will the Fed hike interest rates in September, and will the global economy sink if it does?
For months, traders, economists and various market players have been wondering whether Fed Chairwoman Janet Yellen will raise rates in September or wait until 2016. Ms. Yellen has decided not to appear at the Jackson Hole meeting this year, possibly because she's already sick of this endless question.
But she's partly to blame for that. For weeks, she went back and forth on the rate liftoff question. Sometimes she said the time was approaching, while after that she highlighted further economic recovery was needed.
Recently, the unemployment rate in the U.S. has been approaching low levels - at which workers' bargaining position could get strong enough to induce economy-wide wage increases - which are usually a crucial factor in driving inflation.
Since the beginning of the global financial crisis 2008, the Fed kept its "federal funds rate" (the rate at which the Fed lends to banks) at the lowest levels in history - between 0.0 and 0.25%. With interest rates offered to savers by commercial banks set lower than the inflation rate, wealthy people have complained about having their savings devalued, or even robbed of, as a side effect.
On the other hand, financial markets participants with the ability to borrow on margin have become cheap-money addicts. Besides, the central bank's policy of large-scale bond-buying (QE) between 2009 and October 2014, under previous Fed Chairman Ben Bernanke poured $3.5 trillion into the accounts of institutional investors. This avalanche of money had to be invested somewhere, and so QE's net result was a sustained equities boom, Deutsche Welle comments.

Risks for emerging markets

Two years ago, when Bernanke hinted at a nearing end of QE, emerging-market currencies got under a heavy pressure. Among the hardest-hit countries were Brazil, South Africa, Turkey, Indonesia and India, which since have been called the "fragile five."
Commerzbank analyst Lutz Karpowitz said in a report: "What made them especially vulnerable was their high trade deficits, which became more expensive to finance in 2013 because of slightly higher US interest rates and a stronger US dollar."
Since then, India's trade deficit has substantially decreased. Indonesia's one has shrunk somewhat too, while others have remained vulnerable.
For many analysts, Brazil is a concern. Over there, production and consumption are both in decline, and inflation is hitting double-digit levels. Russia has been extremely weakened with the rouble plunging due to the lower prices of oil. In Turkey, political uncertainty is putting the Turkish lira under pressure. The circle of unstable emerging economies is growing.
China deserves a special mention. The economic uncertainty connected to internal debt crisis in the second largest economy is threatening to infect its trading partners. The global economy is expanding less than expected, Chinese exports are declining, and Shanghai equity prices are have just started recovering after a grinding 23% drop.
The Chinese slowdown is affecting its partners: Dutch wealth management company NN Investment estimated that almost a trillion dollars has left emerging markets over the past 15 months.
Undoubtedly, Chinese or Brazilian problems have nothing to do with the Fed rate hike, but it would nevertheless intensify negative trends in EMs - because it could cause a great deal more money to be pulled out. This could trigger "something like the Asian crisis at the end of the 1990s, when countries would have to impose capital controls and protectionist measures" to prevent the collapse of their economies, chief economist at Assenagon Group Martin Hüfner said in an interview with DW.

Developed and emerging markets

Risks for Europe

Europe will not be hurt too much. Quite the opposite: the strong greenback has helped euro-denominated exports more competitive globally. However, Europe could feel the side effect from EMs.

Today the world has hardly any tools left in hand with which to face a crisis: interest rates are already at near-zero levels; stimulus packages like the ones launched in 2008 aren't likely either, since many national governments are already groaning under high debt loads.
The Fed is now considering the global environment which could soon include the EM rout and thinks on postponing the hike.
Yesterday, William Dudley, president of the New York Federal Reserve Bank, added fuel to the speculation that rates won’t lift off in September. At a news conference in New York Dudley said, “From my perspective, at this moment, the decision to begin the normalization process at the September FOMC meeting seems less compelling to me than it was a few weeks ago.”
However, the strong data released earlier is quite convincing that the Fed may shrug off the turmoil overseas.
Data released yesterday showed that U.S. core capital goods orders showed the biggest increase since June last year.
Investors will now await the U.S. second quarter GDP later in the day, as well as a weekly report on initial jobless claims and data on pending home sales for July.
But above all, there is Jackson Hole in focus, with its questions and awaited answers.

Chinese government intervened to prop up stocks - sources

According to Bloomberg, China’s government intervened to boost the stock market today.
The authorities want the market to stabilize ahead of a September 3 military parade celebrating the World War II victory over Japan, said the people who asked to stay unnamed because the move was not public.
Beijing bought blue-chip stocks, according to one of the people.
This would explain that late rally in Shanghai, in which the index closed at 5.34%. It also suggests the government will keep propping up the market, if needed, until the WWII commemoration is over.
Elsewhere, Germany's DAX rallied 3%, while France’s CAC 40 and London's FTSE 100 were both up around 2.5%.
U.S. stock futures are expected to open higher on Thursday.
During early morning hours in New York, the blue-chip DJIA futures surged 195 points, or 1.2%, the S&P 500 futures added 21 points, or 1.1%, while the Nasdaq 100 futures rose 60 points, or 1.42%.
A day earlier, the Dow jumped more than 600 points, the S&P 500 soared 3.9% to bounce off the correction territory, while the Nasdaq added 4.2%, boosted by positive economic data and dovish comments from a key Federal Reserve official who said a rate hike in September now looks "less compelling".

Peak gold ahead, but it will hardly change anything for a bullion - analysts reflect

26 August 2015, 21:02

Less supply usually means higher prices and more profit. The story is different for gold.
With bullion near a five-year trough and investors getting rid of the metal they hoarded for about a decade, some mining companies are losing money and output is set to drop for the first time since 2008.
However, history shows that the cutbacks will hardly have any impact on the market.
When mines last reduced operations, bullion still dropped as much as 29 percent into a bear market. Even surpluses in 2010 and 2011 didn’t stop prices from touching records.
Global mine output jumped 24 percent in a decade to a record 3,114 metric tons in 2014, as firms dug more to exploit a 12-year bull market in prices, according to data from industry researcher GFMS.
Almost 65 percent of bullion that’s mined or recycled is applied in jewelry and industry, and the rest is sold to investors.
In September 2011 gold has dropped 40 percent from a record $1,921.17 an ounce as investors lost faith in the metal as a safe haven. Expectations of higher U.S. rates and a robust dollar pushed the yellow metal to $1,077.40 on July 24, the lowest since February 2010.
Even with today's rally, prices aren’t high enough for some producers, says Bloomberg. About 10 percent of the world’s mines have lost money, according to London-based researcher Metals Focus Ltd.

Associated Gold Mine, Kalgoorlie, Australia, 1951

Many analysts consider that output will start dipping as soon as next year.
Polymetal International Plc. Gold Fields Ltd.’s CEO expects a big fall from about 2018, while HSBC Holdings Plc forecast the drop will be 25 tons this year.
With prices at about $1,100, production probably will drop 18 percent by the end of the decade, Metals Focus estimates.
This will happen probably because the industry, on average, requires about $1,200 to break even when all costs are considered, says James Sutton, a portfolio manager at JPMorgan Chase & Co.’s $2 billion Natural Resources Fund.
Barrick Gold Corp., the world’s largest producer, will trim output in the next few years, Moody’s Investors Service said earlier, after lowering the company’s credit rating to one level above junk status.
Trimming output by 5 percent would help balance the market and support prices, according to Mark Bristow, CEO of Jersey, Channel Islands-based Randgold.
Meanwhile, HSBC predicts that the yellow metal will recover 19 percent by 2017, partly as supply tightens.
Barclays considers that the implied gold surplus, which estimates mine output and recycling vs demand from jewelers, manufacturers and investors, will fall to 999 tons in 2016, the lowest since 2012, after reaching 1,476 tons in 2013.
Cutting production may take a while to influence prices because demand can be faced by recycling jewelry and using metal held in vaults, according to Georgette Boele, an analyst at ABN Amro Bank NV in Amsterdam. She predicts the yellow metal to touch $800 by December 2016.

From January 2008 till now, over 300 companies have shed 90% value

Mumbai: Shares of DLF Ltd, Financial Technologies (India) Ltd (FTIL), Suzlon Energy Ltd, Jaiprakash Associates Ltd, RelianceCommunications Ltd, Moser Baer India Ltd and Karuturi Global Ltd have seen an over 90% erosion in value since 2008, making them major wealth destroyers in recent times.

BSE’s benchmark 30-share Sensex is up 32.85% since 8 January 2008—when it touched a then-closing high of 20,873.33 points—to 27,730.21 points on Monday.

That 2008 high was the peak of a bull market that started in mid-2003, although investors didn’t know it then. It was too good to last.

By 21 January, the mood changed dramatically and the BSE Sensex plummeted 7.4%—its biggest single-day decline ever—as concerns over a possible US recession overwhelmed the market.

There are 303 such wealth destroyer stocks, which have shed more than 90% of their value since then, and 219 of them are mere penny stocks now with the current price at Rs.10 or less, after a much-hyped past.

Then again, it isn’t all bad news. There are 469 stocks that have returned more than 100% in the same period.

The erosion in value was flagged on Twitter by stock trader Prashanth (@Prashanth_Krish), among others, on 16 June: “On the day Nifty hit its high for 2008, Koutons traded at Rs.1,000. Today, it trades at Rs.2.45.”

Click here for enlarge

Market experts said most of the companies that have lost value are those that rode the wave but lacked sound fundamentals. While some had too much debt on their books, others lacked liquidity or a crisis engulfed them.

Investors said it was difficult to spot these stocks initially. But, over a period of time, piling debt and huge volumes without corresponding change in fundamentals were key to identifying such wealth destroyers.

Bank nifty Head N Shoulder pattern Formation

Crude below $39, Brent below $45 for first time in 7 years

      24 August 2015, 14:05

The plunge in oil prices continued on Monday, in line with the selloff in wider financial markets, as market players were taken aback by the rout in Chinese equity markets and fears about global economic growth.

Light, sweet crude futures for delivery in October declined below $39 a barrel on the New York Mercantile Exchange, setting it on track to close below that level for the first time since February 2009. It was down $1.61, or 4%, at $38.84 a barrel, in midmorning European trading hours.

October Brent crude on London’s ICE Futures exchange fell $1.96, or 4.3%, to $43.51 a barrel, dropping below the $45-a-barrel mark for the first time since March 2009. It is now trading more than 55% lower from its one-year high of $103.19 a barrel reached in August last year.

During several months, oil prices have been under pressure because of oversupply concerns. The drop deepened in recent weeks on fears that the Chinese economy shrank more than expected and may have a negative impact on global markets.

The Asian nation is the world’s largest consumer of commodities, and second-largest consumer of oil. Its demand for most commodities has fallen steeply since the world’s second-largest economy started showing signs of losing momentum. However, its demand for oil has held up much stronger than other commodities, aided by stockpiling. A drop in Chinese oil imports would be catastrophic for the oil market, as prices are already extremely weak.

The recent devaluation of the renminbi also added to market jitters, spurring concerns that China’s oil and commodities imports could fall further.

Equity markets in China were steeply down again Monday, wiping out all of this year’s gains,
following a sharp fall in global equity markets last week.

The Shanghai Composite Index closed 8.5% lower, marking its worst one-day percentage performance since February 2007.

Nifty May Fall Further To 7500 And Below Level Soon If 8660 Holds(Rajeev)

Nifty: Sell @ CMP 8,300| Stop @ 8,660 | Target @ 7,477 — 7,025 — 6,750

Nifty May Fall Further To 7500 And Below Level Soon If 8660 Holds

The daily technical chart of Nifty 50 August contract shows ABC Pattern formation. Nifty dropped from 9119 (Point A) seen in May to the low of 7940 (Point B) at the mid-July. Prices rebounded from the low of 7940 and rose to 8655, which was exactly 61.8% retracement of the fall from Point A to Point B.

Currently, the contract closed at 8299, where further correction in prices is expected to continue. Initial support will be seen at 7940 which was the recent bottom and further selling will continue after crossing the same.

The difference between Point A and Point B is 1,179 points (9119-7940). As per the Fibonacci Expansion Theory, calculating the same distance from 8655 (Point C) will bring the target to 7477 (8655-1179) on the lower side. Thereafter, the next target could be 6750 considering 161.80%  on the same Expansion Theory from Point C.

However, if Nifty 50 reverts from the current level of 8,300 and trades above 8,655 then the target on higher side would be 8900, which is the recent top. If it sustains above 8900 then contract could rise further to 9119, which  is the all time high of the market.

The ‘External’ criteria which will support the down fall include: Depreciating Rupee against the Dollar, and issues with the emerging market currencies. Global equity markets under severe pressure.  

This Is What Happens When Water Is Charged With Music Energy

in5d.com

by Valerie,
Learning Mind

Physicist from Kazakhstan Vladimir Ivanov charges water with the help of music. Such water, he says, has unique healing properties and can be used as an adjunct to traditional medicine. The scientist uses the works of Bach, Mozart and other great musicians to charge water.

Healing essence

The fact that water has a memory and its quality improves or degrades depending on the nature of the information it carries was known to the ancient healers-Shamans long time ago, who practiced impact on the energy structure of water. One can be skeptical of this, but today the ‘magical’ properties of water do not seem so magical. Water is a living substance, while human is a watery live being: according to science, more than 70 percent of our body is water.

Laser technology expert Vladimir Ivanov of Almaty, Kazakhstan, under the guidance of Doctor of medical sciences, Professor Guram Pichkhadze have been conducting experiments with water and other liquid media for many years. He argues that water has a tremendous potential. It is only necessary to activate it, and the positive properties of bioactivated water can be used for the purpose of healing! Perhaps, water is the panacea for all ills!

The physicist even created a table like the Periodic table of elements, where he pointed out the parameters of liquids and their impact on the main seven chakras of the human body. Any liquid, whether it is mineral water or alcohol, has its influence on the human body. Liquids, depending on their composition, can have both positive and negative effect.

Music therapy

Ivanov proposes a technique for producing water with unusual properties based the use of music or art therapy. It is known that water can perceive sound waves. The physicist believes that human listens to music not so much with his ears as with the chakras of his energy body:

“The algorithm is based on a musical program. In the beginning I tried to activate the saline solution and the vitamin C solution. The results were amazing: all the patients had their aura fully restored.music heart effect Water is charged to a certain potential, then one more stage, and so it must go through five stages, that is 90 hours of continuous exposure.”

The musical program of water activation is recorded on discs. But not all music positively affects water:

“I put, for example, “Moonlight Sonata” by Beethoven, “Bolero” by Ravel, “Seasons” by Tchaikovsky, as well as Bach, Mozart, Schubert. Music can be neutral so that listening to it doesn’t change anything. It can be active-negative, for example, rock, and positive, which is the one that charges water.”

Cost-effective treatment

Treatment of any disease is impossible without energy rebalancing, believes Vladimir Ivanov. This can be done with the help of bioactivated water – plain water with improved qualities. It positively affects human fluids, i.e. blood. Water is also essential for the normalization of metabolic processes in the body.

The physicist also takes pictures of the human aura before and after taking bioactivated water and claims that there are clear signs of the aura changes.

Water activation technique is considered by its author as one of the promising areas of integrative medicine, as well as a simple and cost-effective way of treatment. The most amazing thing tis hat bioactivated water can remain stable for a very long time. Ivanov is sure that in the future supporters of traditional medicine will believe in the potential of bioactivated water.

Source:http://in5d.com/this-is-what-happens-when-water-is-charged-with-music-energy/

MCX-Silver Outlook Range breakout for directional move

MCX— Silver: Buy Above 36180 | Stop @ 35700 | Target @ 37590 — 39000

                             : Sell Below 35700 | Stop @ 36180 | Target @ 34530 — 33360

MCX - Silver Outlook Range breakout for directional move

The technical chart of MCX-Silver September Contract shows Bull Flag Pattern formation. The Silver is trading in a range of 480 points, with support at 35700 and resistance at 36180. The silver rose from 33360 on 6th August  2015 to touch the high of 36180 on August 12, before entering in a range-bound trading. This has formed a Bull Flag Pattern.

As per the chart pattern, a sustained trading above 36180 level will give a breakout to the Bull Flag Pattern and the would further get stronger.

Height of the Pole is 2820 points, the difference between 33360 and 36180. A breakout above 36180 will bring the higher target of 37590, which is the 50% of the Pole. The next target could be 39000, which comes to 100% of the Pole Height.

However, if Silver reverts from the current level of 35930 and trades below 35700 then the target on lower side would be 33360 which was the low from where the rally has started.

MCX-Aluminum: Sell @ 110.90 | Stop @ 102.60 | Target @ 100 — 96.45 — 93.20

MCX-Aluminum: Sell Below 99.70 | Stop @ 102.60 | Target @ 96.45 — 93.20

Risky trader: Sell CMP 101.90 | Stop @ 102.60 | Target @ 100 — 96.45 — 93.20

MCX Aluminum Outlook Weak

The technical chart of MCX Aluminum shows Bear Flag Pattern formation. The prices has fallen from 106.20 level to the support at Point A of 99.70. Thereafter prices went in to the consolidation phase and trading was restricted within 102.60—99.70 range. Currently prices are trading at 101.90 just below the resistance level of 102.60 and is expected to move and test the support level of 99.70. This has formed a Bear Flag Pattern.

As per the chart pattern, a sustained trading below 99.70 level will give a breakdown to the Bear Flag Pattern and the Aluminum prices would weaken further.

Height of the Pole is 6.5 points, the difference between 106.20 and 99.70. A breakdown below 99.70 will bring the lower target of 96.45, which is the 50% of the Pole. The next target could be 93.20, which comes to 100% of the Pole Height.

However, if Aluminum prices reverts from the current level crossing the higher resistance level of 102.60 then the target would be 106 levels which is unlikely as of now.

Spot USDINR: Buy Above 64.30 | Stop @ 63.50 | Target @ 65.80 — 67.30

Spot USDINR: Buy Above 64.30 | Stop @ 63.50 | Target @ 65.80 — 67.30

Spot USDINR Outlook Weak

The technical chart of Spot USDINR shows Bull Flag  Pattern formation. USDINR was trading in range of one Rupee where the support was at 63.30 and resistance at 64.30 level. Rupee has risen from 61.30 seen in Feb 2015 and tested the high of 64.30 seen in May 2015 before entering in the range trading. This has given Bull Flag pattern Formation.

As per the chart pattern, if rupee sustain its trading above 64.30 level will give breakout of the Bull Flag Pattern and will get weaker again the Dollar.

Height of the Pole is 3 rupee from the lower level of 61.30 to the higher    resistance level of 64.30. Crossover above 64.30 will bring the higher target of 65.80 which is the 50% of the Pole and 67.30 which comes to 100% of the pole height. However, if it reverts from the current level of 64.21 then prices could fall to 63.50 levels.

MCX Zinc August: Sell At CMP 119.5 | Stop @ 121.5 | Target @ 115.65 — 112

MCX Zinc August: Sell At CMP 119.5 | Stop @ 121.5 | Target @ 115.65 — 112

MCX Zinc August Outlook Weak

The technical chart of MCX Zinc shows A-B-C Chart Pattern formation. Zinc reverted from the 50% retracement level yesterday and witnessed a gap down opening today due to selling pressure.

As per the chart pattern, prices might fall by 100% expansion from Point C as it was witnessed from Point A to Point B. The distance from Point A to Point B comes to 5.85 points and calculating the same from Point C, brings the initial target to 115.65.

According to the chart, a 161.8% expansion from Point C brings the target to 112 on the lower side.

If the contract crosses resistance level of 121.50 then prices may rise to 123.50 levels. However, if it reverts from the current level of 119.50 then prices could fall to 115.65 levels. A further drop to 112 isn’t ruled out if the contract breaks 115.65.

MCX Lead August: Risky Sell CMP 110.50 | Stop @ 111 | Target @ 108 – 105 – 103

MCX Lead August: Sell Below 108 | Stop @ 111 | Target @ 105-103    OR

MCX Lead August: Buy Above 111 | Stop @ 108 | Target @ 114-116    OR

MCX Lead August: Risky Sell CMP 110.50 | Stop @ 111 | Target @ 108 – 105 – 103

MCX Lead August Outlook Weak

The technical chart of MCX Lead shows Symmetrical Triangle Pattern formation. Lead is trading near the higher resistance trend line and but it’s still well within the range of Symmetrical Triangle Pattern and may give a breakout on either side. Lead prices fell from 112 (July 29) to 107.30 on August 3 and thereafter went into the consolidation phase, forming the Triangle Pattern with higher bottom and lower top.

Height of the Triangle is 4.70 points, which is the difference from 112-107.30 levels. A breakout can be seen on either side. The prices are expected to move higher if the contract crosses 110.90. However, a fall below 108 will indicate the resumption of short-term downtrend. 

If the contract crosses higher resistance level of 110.90 then prices may test 114-116 levels. But if the contract reverts from current level and trades below 108 then prices could fall to 105-103 levels, which is the height of the triangle from the Breakdown Point at 108.

WTI Oil: Outlook Remains Bearish

WTI-OIL: Sell Below $44 | Stop @ $50 | Target @ $35 — $33

WTI Oil: Outlook Remains Bearish

The technical chart indicates that WTI Oil is forming Double Bottom pattern with the support at $44/barrel level. At the starting of 2015, prices rebounded from $44 and rose to $62. During the period of May prices consolidated in the range of 62 to 56.50 during May. However, prices broke the support level of $58 in June and fell to $44.

Prices are expected to reverse if it remains above the support level of $44 and retest the level of $62 again.    However, a break below $44  may take the prices to $33, which is 61.8% retracement of the recent fall. Prices are currently at $44.50.

In 2008, prices fell from $147 and took support at $33 before reversal in early 2009  and tested the level of $115.

The market fundamentals indicate that crude oil inventory is rising due to production in the US, the Middle East, and fresh pumping of oil by Russia. This is adding to the already high Inventory stocks and prompt prices to fall in coming days.

Gold One Pager Report..

Instrument	S3 Pivot	S2 Pivot	S1 Pivot	Daily PP	R1 Pivot	R2 Pivot	R3 Pivot
Gold Spot	1060	1070	1078	1088	1096	1106	1114

Gold Spot in Comex shows the emerging of the symmetrical triangle pattern. Prices have been oscillating between $1,110 and $1,080 per ounce levels since couple of week. Breakdown below $1,080 will bring the prices till $1,047 in near term.

Sustain below $1,080 will also indicate long term breakdown of the Bear Flag Pattern. Height of the Pole is 128 points, which is the difference from $1,205 to $1,077 level. Taking in to consideration the positional chart the lower side target comes to 1016 which is 50% of the height of the pole and Second target comes to $952 will be the 100% of the Height of the pole.

The strong US dollar and excess supply concerns are putting pressure on gold prices. The Federal Reserve’s interest rate hike would be the key driver for gold prices in the near term.

Fundamental News which just coming out from the Federal Reserve board voting member which will impact the prices to great extent

On Wednesday gold prices eased its previous session gain in Asia trade after remarks from a Federal Reserve board voting member that a widely expected rate hike this year could be "close". 

A voting member this year, Atlanta Fed's Lockhart is considered to be a moderate, analysts said, which made his remarks more meaningful. Talking with the Wall Street Journal, Atlanta U.S. Federal Reserve Bank President Dennis Lockhart said the Fed was "close" to being ready to raise short-term rates. Lockhart noted it would take major weakness in the data to convince him not to move. "I think there is a high bar right now to not acting, speaking for myself," he said. The Atlanta Fed president is a voting member on rate policy this year. He is seen by Fed watchers as a key bellwether of the thinking of the majority on the U.S. central bank due to his pragmatic approach to economic issues.