HAPPY AND SAFE DIWALI TO ALL FOLLOWERS.....
Gold : Gold has achieved TGT 27600 last week. Gold has support at 27170. If it is broken then I expect correction till 27045-27150 levels...maximum 26834-26954 ZONE ( if it goes there)........We can see up trend continuation till 27900-28250+ levels next week.
If it survive below 26800 then below targets near 26700-26600-26540....if break 26475 next support near 26363......It it breaks 26363 level then we may see deep down levels....
I suggest Buyers maintain their long positions with SL below 26800
Silver : Silver is trading range bound for last week and failed to survive above 39150 level but has broken this level...also failed to break its support at 38300 and closed above it....I suggest keep accumulating Silver between 37800-39000 for long term upside targets. Wait for daily closing above 39150.
If break below 37700 then silver can go deep down till 35250-35219 levels.....
Copper: Copper is still showing weakness and failed to survive above 422 levels and broken its support at 409....I expect the fall may extend maximum near 391-394 levels if it break support at 398....
Buyers maintain their long positions with safe SL below 390 levels. Fresh buyers should buy and accumulate between 399-390 levels and hold for long term upside targets.....we may see bounce back between 401-390 levels.....
Break below 390 levels can confirm down trend and can expect deep down targets....
Aluminium: Aluminium has failed to break support at 116 and broken its resistance at 120 and closed above it last week. We may see small retacement upto 118.65 levels and expect bounce back from this level to continue till 122.40-124.30-125.20-126.90-127.75-128.30 levels...Keep booking profits at these levels...
Buyers maintain SL below 118.
If break 116 then next support at 110.20 levels....
Lead: Lead is suviving above its trend line support at 122.75 and formed double bottom with base at 121.30. I expect the bounce back may continue till 131-133 levels in coming weeks....weekly closing above 133 level can confirm reversal of down trend.
Lead has minor resistance ar 124.90 and 127.95.....watch for break above these levels
Buyers maintain their long positions with SL below 121 levels. Positional buyers maintain their long term positions for TGT near 136 levels....
If break below 121.30 then we may see deep down targets.....
Zinc: Zinc has mixed indications. Zinc has not survived above 144 and not broken its support at 134.60. Expect bounce back to continue till 139.90-142.40 levels minimum. Daily/Weekly closing above 144 levels can confirm reversal of down trend. ( which is most likely to happen)
Buyers maintain their long positions with SL below 138 levels.
Break below 138 may test 134.60 again....
Nickel: Nickel is showing signs of revesal....It has not broken 941 level yet and has bounced back. Expect bounce back to continue till 992 levels next week. If break 992 then next TGT 1038-1097.
If we get weekly closing above 1097 then hold long positions for much bigger TGT near 1397+ as long term TGT.
If break 940 then next support at 875-856-799....
Crude: Crude may show short covering to continue till 5240.....If break 5260 then next TGT 5300-5400+
Long term investors hold their long positions with trailing SL at 5050 and watch out for weekly closing above 5800 for TGT 6317-6474....minor resistance between then are 5546-5572....
If break below 4945 next support at 4770....
NG: Below 232 maintain short positions and above 232 maintain long positions...