Gold
Gold... Support at $1273 and resistance at $1298---$1307.
If it unable to breach $1273 then we will expect rally till $1298---$1307
again.
Three consecutive close + weekly close above $1307 will see fresh upside move
in it.
Close below $1273 will create sharp downside panic in it.
Trade in a range with levels only.
Silver
Silver formed Bearish Engulfing pattern on weekly chart. We
are not expecting any major upside rally in Silver as trend formation looks
extreme weak on charts.
This week we will expect both side movement in Silver but trend remain weak and
any sharp rise will be selling opportunity around $18.20---$18.30 with stop
loss above $18.80 on closing basis.
Downside target intact $16.80---$16.50 and then to $15.50.
Trade in a range with levels only... Any reversal seems will update.
Copper
As you all know that we were bearish in Copper from 410
mark. It felled but took patience....
Now what to expect???
Support at $2.45. Likely to test its support level of $2.45. Three consecutive
closes + weekly close below $2.45 will see sharp downside panic till
$2.35---$2.32 and then to $2.20.
Hurdle intact at $2.65
Crude Oil
Crude oil... Third time in a row not able to breach $55.20 and
crashed vertically.
We are holding short selling from 3425 mark. On Friday it breached 3200 mark
Now what to expect???
Support at $49.00. Close below $49.00 will take to $47---$46 else we will
expect range bound trading between $49---$51.50 for the week.
INR will play key role in volatility.
Trade with levels only.
More will update during market hours.
