Please note that below forecast is based on the closing basis and technical indicators at the closing time. Market situations may change depending on what level it opens. You are advised to consult your financial adviser or us before taking any positions.
Gold
Gold could not sustain 28500 level and now
trading above its next resistance 28800. Overall long term Gold is weak. But it
may show some bounce back. On Monday, most probably Gold should open gap up and break its resistance at 29020.....If 29020 is broken then go for long....
On daily chart, there is a gap at 29700 level.
For next week Buy in range of 28500-28750 or if open gap up go for long for TGT
29290, 29575, 29700.
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Silver
Silver June could not give breakdown below 41000
and bounced back from 41200 level. Overall silver is weak but we may see bounce
back. Mostly on Monday silver will open gap up...Then go for long anyway ....
Also on daily chart there is gap at 44565 level.
Next week Buy silver between 41900 to 42200 or if open gap up open then go long for
the TGT 43826, 44565 plus
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Copper
Copper is in down trend now. Its key resistance
is at 412.50. Strong Rupee may limit the down fall of copper compared to Comex
prices.
For next week Keep selling below 412.50 for TGT
near 402, 398.50.
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Aluminium
Aluminium is in down trend now. Its key resistance
is at 107.40. Strong Rupee may limit the down fall of Aluminium compared to
Comex prices.
For next week Keep selling below 107.40 for TGT
near 105.65 and then 104.45
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Lead
Lead is in down trend now. Its key resistance is
at 127.10. Strong Rupee may limit the down fall of Lead compared to Comex
prices.
For next week Keep selling below 127.10 for TGT
near 123.75,122.85.
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Zinc
Zinc is in down trend now. Its key resistance is
at 124.35. Strong Rupee may limit the down fall of Zinc compared to Comex
prices.
For next week Keep selling below 124.35 for TGT
near 120.85, 119.95.
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Nickel
Nickel is in down trend now. Its key resistance
is at 1114. Strong Rupee may limit the down fall of Nickel compared to Comex
prices.
For next week Keep selling below 1114 for TGT
near 1084, 1077, 1065. ( here watchout for breakdown below 1084 for next TGT)
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Crude
Crude is trading near its support zone and
bounced back little bit. This bounce back may continue. It has resistance at
6082 and 6123 level. Overall Crude is weak below 6240.
For next will buy above 5965 for TGT 6082, 6120.
These levels are good opportunity for selling.
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Natural
Gas
Natural gas is again trading above all MA and
oscillator moving towards overbought zone. It has support at 279 , 271. Keep
buy on dips view above this level.
Watch out for breakout above 290.50 level. For
next week we may see 317 level soon.
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