Dead
cat bounce could happen in base metals for next 1 to 3 trading sessions, be
cautious at upper levels.
As expected... We have seen vertical crash in metal segment
and this panic will remain continue for next few weeks too. Any dead cat bounce
will be selling opportunity but trade with levels only.
Have a look on it!!
Gold
Below 25200... out target was 25080---24960. It made exact
low of 24960 and bounced back
Now what to expect??
Gold has support at 24960 and Resistance at 25230
Close below 24960 will take to 24810---24650 and then to
24400 mark in days to come
Our target intact 24174
Any sharp rise will be selling opportunity but trade with
levels only... Anything reversal seems will update.
Silver
Support at 33300---33000 and Resistance at 34500
Close below 33700 will take to 33450---33300. 33000 act as
major support for Silver. Three consecutive closes + weekly close below 33000
will see free fall in Silver til 31500---30800 and then to???
Else it could test its resistance level of 34500 again
Close above 34500 will see further upside rally till
34900---35300 and then to 35800 mark
Trade safely with levels only
Copper
Two consecutive closes below 306 will take to 293---289 mark
Only mantra to sell on rise. Any reversal seems will update.
Nickel
Two consecutive closes below 618 will take to 593---588 and
then to 576 mark in days to come
Revise stop loss above 618 on closing basis
Lead
Close below 103.50... panic remain continue till
102---100.50 mark in days to come
Hurdle intact at 105.50
Zinc
As expected... Crashed vertically and made a low of 99.90.
Below 102... our target was 100.50---99.00 mark
Now what to expect???
Still looks weak and could test 99.00. Three consecutive
closes + weekly close below 99.00 will see nonstop panic till ???
Traders can trade with levels only
Crude Oil
Support at 2670---2630---2550 and resistance at 2780---2830
Looks choppy and has no clear direction... So traders can
trade safely with levels only and wait for confirmation.
More will be update soon!!
