Gold
Gold below support 27200 may retrace further near 26800 ( there is a gap which need to be filled)....Watch 27200 level......Break of 26800 can take Gold till 26650 level....( Another gap to be filled)
As of now watch 27520-27600 resistance zone....Gold may see resistance again in this area.....and reverse...so unless this zone is crossed with volume for ( TGT 27850+)....don't initiate fresh buying.....hold your buying positions with trailing SL below 27400 levels....
But still my short/long term view is Bullish and we my see Gold making new highs in coming months....I would be looking for buying opportunities and I will not opt for selling for retracement....
Silver:
Silver below support 39200 may retrace till 37800-37500 zone......further break down can take silver to 36700-36400 zone...
Silver has resistance near 40100-40200 zone....If this is crossed with volume then more upside can be seen.....
Still my long term target on upside remains same......
I would take these down runs as retracements for more up side to come....both these commodities are in overbought area and retracement is expected soon.....
Copper
Copper has shown consolidation in between 420-410-409 area.....it has failed to break 410 on daily closing basis....
Now till 410 is broken on daily closing basis, stay long for TGT above 422.....
Below 410 on daily closing basis , copper has potential to fall down till 399-370 levels....which is most likely to happen......
My view after breaking 410 on daily closing basis - Stay short for long term ....Copper will break its previous low and show much more lower targets.....
Zinc:
Zinc has failed to break 144....Watch 144 support area for a bounce back for TGT above 153 or more....
Breakout of 143 with volume can show tgt 137-135......
Buy above 146.50 with SL below 144.....
But for now my view is sell on rise below 154.35......Zinc seems to have topped out at 154.35.....Zinc may fall and break previous levels also....1 st TGT 124.35....once that is broken will see market movement ....but I can see zinc going much deeper than 100 ...somewhere around 93-97 levels...
Crude :
As expected crude is in retracement process but it has a strong support at 3700 level which it failed 2 times to break.....
Crude has resistance at 3807 level ....if it is broken we may see crude testing 3900+ zone again.....but till it is trading below 4000, sell on rise....
I am expecting atleast 400-600 points correction below 3700 level.......
But in my view since Crude has failed to break 4000 and might have revered to continue its fall below 2500 levels till 2000-1800-1600 levels.....Yet to be confirmed .....only next week movement can decide....If crude close below 3700 next week then we can confirm that down trend will continue.....
My advice will be to close all Long positions and stay on short side....fresh buying is only above 4000.....keep SL 4000 for crude short positions .....
NG
Below 194 keep sell on rise view......NG may retrace/ down trend is expected any time......
Buy only above 194 on daily closing basis.....
NG will also continue down trend but I feel it may not cross 194 .....Yet top of down trend is not confirmed but as of now 194.....Stay short to see new lows in NG in coming weeks....
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Gold below support 27200 may retrace further near 26800 ( there is a gap which need to be filled)....Watch 27200 level......Break of 26800 can take Gold till 26650 level....( Another gap to be filled)
As of now watch 27520-27600 resistance zone....Gold may see resistance again in this area.....and reverse...so unless this zone is crossed with volume for ( TGT 27850+)....don't initiate fresh buying.....hold your buying positions with trailing SL below 27400 levels....
But still my short/long term view is Bullish and we my see Gold making new highs in coming months....I would be looking for buying opportunities and I will not opt for selling for retracement....
Silver:
Silver below support 39200 may retrace till 37800-37500 zone......further break down can take silver to 36700-36400 zone...
Silver has resistance near 40100-40200 zone....If this is crossed with volume then more upside can be seen.....
Still my long term target on upside remains same......
I would take these down runs as retracements for more up side to come....both these commodities are in overbought area and retracement is expected soon.....
Copper
Copper has shown consolidation in between 420-410-409 area.....it has failed to break 410 on daily closing basis....
Now till 410 is broken on daily closing basis, stay long for TGT above 422.....
Below 410 on daily closing basis , copper has potential to fall down till 399-370 levels....which is most likely to happen......
My view after breaking 410 on daily closing basis - Stay short for long term ....Copper will break its previous low and show much more lower targets.....
Zinc:
Zinc has failed to break 144....Watch 144 support area for a bounce back for TGT above 153 or more....
Breakout of 143 with volume can show tgt 137-135......
Buy above 146.50 with SL below 144.....
But for now my view is sell on rise below 154.35......Zinc seems to have topped out at 154.35.....Zinc may fall and break previous levels also....1 st TGT 124.35....once that is broken will see market movement ....but I can see zinc going much deeper than 100 ...somewhere around 93-97 levels...
Crude :
As expected crude is in retracement process but it has a strong support at 3700 level which it failed 2 times to break.....
Crude has resistance at 3807 level ....if it is broken we may see crude testing 3900+ zone again.....but till it is trading below 4000, sell on rise....
I am expecting atleast 400-600 points correction below 3700 level.......
But in my view since Crude has failed to break 4000 and might have revered to continue its fall below 2500 levels till 2000-1800-1600 levels.....Yet to be confirmed .....only next week movement can decide....If crude close below 3700 next week then we can confirm that down trend will continue.....
My advice will be to close all Long positions and stay on short side....fresh buying is only above 4000.....keep SL 4000 for crude short positions .....
NG
Below 194 keep sell on rise view......NG may retrace/ down trend is expected any time......
Buy only above 194 on daily closing basis.....
NG will also continue down trend but I feel it may not cross 194 .....Yet top of down trend is not confirmed but as of now 194.....Stay short to see new lows in NG in coming weeks....
FOR ANY QUERIES OR DOUBTS ANYONE CAN CALL .....NO CHARGES .....FREE ADVICE....
TRADE SAFELY WITH STRICT STOP LOSS....