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UPDATED on 7 Sept 2014
For positional Traders only:
Our UP targets for Base Metals, Bullion and energy are still intact but retracements are not ruled out....Small and intraday traders are advised to keep strict SL and trade in small lots.....wait for firm breakouts on either side....All commodities are trading at critical levels (All low of last week). It can either bounce back or may change the trend to down side....My opinion is it will bounce back...
Nickel as have told many times is heading towards 1200+ wait for breakout above 1190....
Aluminium : Till it is surving above 123 on daily closing basis it is strong......watchout for break out at 127.25 for new high near 130-131.50.......below this we can see targets of 122.50 or more low till 118-117...
Lead : Till it is surviving above 132.50 it is strong....Break out at 135 can take it to new high.....below 132.50 on daily closing basis we may see targets 130.60 or more low till 127.10
Zinc : Above 144 it is strong ....watch out for breakout at 145.50.... we can see targets near 148-152....Below 144 next support is near 141.50 levels....
Copper: Above 423 it is strong checkout for breakout at 431 for targets near 442+ and then above 443 our TGT is 502 and below 423 next support is at 421-420 levels , if breakout below 420 then it can drop down till 416, 414, 410 levels........Below 414 on weekly closing basis Copper is very weak and can drop down till 345 levels
Gold and Silver : Our trailing SL Gold 27500 and Silver 42000 got hit and exited with profits...We are now waiting for right level to buy for much higher targets....Bullion are consolidating and making base for next move....Gold in given situation below 27250 can drop till 27000 - 26900 - 26670 levels...Silver below 42000 can drop down till 40260 levels....
We are using this drop/ Levels to accumulate Base Metals, Gold and Silver for much higher targets....If Base Metals, Gold and silver trade below above levels with volume then we will change our view to negative side...
Crude : Till it is trading above 5600 it is strong and it is weak only below 5600 on daily closing basis........and can drop down further Rs. 500 or more
NG - As mentioned earlier is weak below 228 only on daily closing basis.........Below 224 NG is very weak.....
UPDATED on 7 Sept 2014
For positional Traders only:
Our UP targets for Base Metals, Bullion and energy are still intact but retracements are not ruled out....Small and intraday traders are advised to keep strict SL and trade in small lots.....wait for firm breakouts on either side....All commodities are trading at critical levels (All low of last week). It can either bounce back or may change the trend to down side....My opinion is it will bounce back...
Nickel as have told many times is heading towards 1200+ wait for breakout above 1190....
Aluminium : Till it is surving above 123 on daily closing basis it is strong......watchout for break out at 127.25 for new high near 130-131.50.......below this we can see targets of 122.50 or more low till 118-117...
Lead : Till it is surviving above 132.50 it is strong....Break out at 135 can take it to new high.....below 132.50 on daily closing basis we may see targets 130.60 or more low till 127.10
Zinc : Above 144 it is strong ....watch out for breakout at 145.50.... we can see targets near 148-152....Below 144 next support is near 141.50 levels....
Copper: Above 423 it is strong checkout for breakout at 431 for targets near 442+ and then above 443 our TGT is 502 and below 423 next support is at 421-420 levels , if breakout below 420 then it can drop down till 416, 414, 410 levels........Below 414 on weekly closing basis Copper is very weak and can drop down till 345 levels
Gold and Silver : Our trailing SL Gold 27500 and Silver 42000 got hit and exited with profits...We are now waiting for right level to buy for much higher targets....Bullion are consolidating and making base for next move....Gold in given situation below 27250 can drop till 27000 - 26900 - 26670 levels...Silver below 42000 can drop down till 40260 levels....
We are using this drop/ Levels to accumulate Base Metals, Gold and Silver for much higher targets....If Base Metals, Gold and silver trade below above levels with volume then we will change our view to negative side...
Crude : Till it is trading above 5600 it is strong and it is weak only below 5600 on daily closing basis........and can drop down further Rs. 500 or more
NG - As mentioned earlier is weak below 228 only on daily closing basis.........Below 224 NG is very weak.....