Please note that below forecast is based on the closing basis and technical indicators at that 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.
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Gold
Gold is showing resistance at 27870 levels. Watch out for breakout below 27490 levels for TGT near 26500-26800 levels. Which can be good buying opportunity for TGT near 28500..
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Silver
Silver remains buy on every dips. Silver may retrace till levels 44500-44850 levels, which can be good opportunity to buy for TGT near 45850 and then 47000+ levels.
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Copper
Copper is showing signs of reversal. Watchout for breakout below 415.30 for TGT near 411 and then 403-405 levels, which can be good levels to buy againfor TGT 440,and above.
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Aluminium
Aluminium below 113.40 with SL above 113.40 remains sell on rise. Watch out for breakout below 110,70 for TGT near 107-108 levels which can be good levels to buy for TGT near 114, 117, 124.
But breakout below 107 may test 101.25 levels again.
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Lead
Lead below 130.40 remains sell on rise with SL above 130.40. It has already broken support @ 128.40 and heading towards TGT 127. Break out below 126.40 can take prices to 125.30 levels, which can be good levels to buy for TGT 132 and above.
But break out below 125.30 can test 124 and then 122 levels again.
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Zinc
Zinc is trading in overbought zone. It may test 132.75 levels and reverse from there. So keep sell on rise view for TGT near 127.55 and then 124, 122-121.
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Nickel
Nickel below 1160 level keep sell on rise view for TGT near 1072 and then 1048. Break out below 1047 can test 980-1001 levels.
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Crude
Crude above 6318 remain buy on dips for TGT near 6440. Crude may reverse from that level agaon and test 6100 levels.
Crude is overall positive and heading towards 7200 levels in coming MONTHS. Positional traders above 5600 levels keep buy on dips view. Watch out for break out above 6549 on weekly closing basis for upside targets.
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Natural Gas
NG for next week below 289 sell on rise for TGT near 243-248. Break out below 241 can take NG to new lows near 209-214 levels.
Breakout above 294 can take price to 302+ levels. Overall NG is negative and in coming months we can see price testing previous lows.
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