Gold
On Friday.. we clearly indicated to sell Gold around 29650---29680. It crashed and achieved our downside target level of 29400---29250 very well. It bounced back sharply again to 29750 and now trading around 29650
Now what to expect???
Support at 29500---29200 and Resistance at 29900
Fresh buying can initiate only close above 29900 mark else it could test its support level of 29500---29200 again
Trade safely with levels only
Silver
Clearly indicates to sell on rise in small quantity. It made a high of 37900 and crashed vertically to 35922. Our hurdle was 38000---38800 and clearly indicates that chances are unlikely to breach its resistance level of 38800 in near terms
Now what to expect???
Silver (May) has support at 36100. Looks weak and could test its support level of 36100. Three consecutive closes + weekly close below 36100 will see free fall in days to come
Else it could test its resistance level of 37300---37800 again
Overall trend still looks highly weak and any sharp rise will be selling opportunity in it.
38000---38800 act as major hurdle in it
Copper
Told to buy Copper above 320. It made a high of 326 and slipped again
Now what to expect???
Support at 317---313 and Resistance at 324
Either side break or close with volume will decide further... Till then traders can trade in a range with levels only and wait for confirmation
Crude oil
We have seen high volatility in Crude oil on Friday though traded with positive bias and now trading around 2235
Now what to expect???
Support at 2200---2160 and Resistance at 2300
Break and sustain below 2210 will take to 2180---2160. Decisive break and sustain below 2160 will see panic till 2110----2060 and then to 2000 mark in days to come
Else it could test its resistance level of 2300 again
Nimble traders can buy and accumulate Crude oil panic around 2200---2190 with stop loss below 2160 for the initial target of 2300
Natural Gas
Panic continues and made a low of 117.70. We clearly indicates that below 121 will see panic till 116---113 and then to 110 mark
Traders holding short as per our level can revise stop loss above 121 on closing basis.
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