As expected... We have seen panic in metal and energy
segment during festival season. This indicate that this panic will remain
continue for time being too.
Have a look on it!!
Gold
As expected... Gold crashed vertically and made a low of
25202 mark. We clearly recommended selling below 25760 mark and now trading
around 25380. On Thursday... Gold made a fresh 6 years low and hit $1074
Now what to expect???
Below 25760.... panic remain continue for the downside
target of 24174. Double top pattern confirms downside panic in Gold
Close below 25280 will take to 25080---24960. Three
consecutive closes + weekly close below 24960 will take to 24450---24200 mark
in days to come. Our ultimate target intact 24174 mark
On Comex division... Gold has support at $1073. Weekly close
below $1073 will take to $1046---$1024 and then to 980 mark
Will it breach $ 1000 mark???
Any sharp rise will be selling opportunity in Gold... Stop
loss intact above 25930 on closing basis.
Trade with levels only... Any reversal seems will update.
Silver
As expected... We have seen panic in Silver from
35400---33751 mark and now trading at 33900
Now what to expect???
Support at 33700---33200 and Resistance at 34500
Close below 33700 will take to 33450---33200. 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
Hit multi years low of 316 and now trading around 316.50
Three consecutive closes + weekly close below 324 will see
nonstop panic till 293---289 mark in days to come
Any sharp rise will be selling opportunity in Copper with
stop loss of 333 on closing basis
Nickel
As expected... Panic continues and made a low of 625.40 and
now trading around 628
Now what to expect???
Weekly close below 625 will take to 588---576 mark in days
to come
Hurdle and stop loss intact above 656 on closing basis
Crude Oil
Crashed vertically and made a low of 2754. We recommended
selling below 3125 and then below 2860 mark
Now what to expect???
Support at 2750 and Resistance at 2830
Close below 2750 will take to 2680---2630 and then to 2550
mark in days to come else it could test its resistance level of 2830 again
Further upside rally seen only close above 2830 mark
Close above 2830 will take to 2880---2930 and then to 3000
mark
Traders can trade with levels only.
More will be update soon!!