Our buy call in Copper, Nickel, Zinc has proven great. Not only this, our buying recommendation in Gold too proven great as we booked profit around 47200 levels.
Now, what to expect???
Gold has support at 46600 and resistance at 47400.
Either side break or close with volume will decide further. Till then traders an trade with in a range and wait for confirmation.
Silver has support 66500. Yesterday we recommended buying in Silver above 68000 ad to add more lot around 67300 levels.
Both levels are active and average buying rate 67650. Low risk traders can book full profit or exit around 67650—67800 levels.
Others can hold with strict stop loss.
Silver is in consolidation from the last 2—3 trading session. Traders should wait for a clear direction.
Copper achieved our upside target very well. You all know that we are holding long from 696 levels.
Now, what to expect???
Copper has resistance at 711—718.
We will see a consolidation phase in the range between 704—715. Major upside rally or breakout we will see on a close above 718 levels only.
Don’t jump to sell, Any sharp downside panic will be the buying opportunity in it.
Upside target intact 730—740.
Nickel has support at 1305—1290 and resistance at 1340—1355
Our buy call has proven great in Nickel.
Today, we will see a range bound trading but bias remain positive in it. So buy on decline will be the best trading strategy for traders.
Lead, Zinc and Aluminium are trading with in a range and has no clear direction as of now.
If anything seems then surely we will update during market hours.
Lead has support at 170—168 and resistance at 172.50—174.00
Zinc has support at 230 and resistance at 234
Aluminium has support at 190—188 and resistance at 193
Crude oil looks tired on the daily chart, need some correction from the top.
So traders don’t go for aggressive buying at higher levels.
Crude oil has support at 5390 and resistance at 5500
Fresh upside rally we will see on a close above 5500 levels only or else it could test its support level of 5390 again.
Break and sustain below 5390 will take it to 5340–5275.
Trading range 5275—5520. Momentum buying from support levels.
More we will update soon…