Since it is beginning of new month and new contract in some commodities, we will have to see movement on Monday and closing , to see where the market is heading for.....
For sure the whole market is very bearish and it will fall down to new lows....But, it may show some correction in next week in all commodities before it fall further and continue down trend...this week, bulls will win the trade....
Those who have Sell positions may keep it or book it and wait for some correction and sell from higher levels.....BUT DON'T BUY FOR ANY RETRACEMENT UPSIDE TILL IT IS CONFIRMED....WAIT UNTILL WE SEE MONDAY _ TUESDAY CLOSING.....PATIENCE ALWAYS PAYS......BIG DOWN FALL IS STILL ON CARDS
This correction will bring in new opportunity for selling for positional traders ....the more it retrace upside it's good for bear ( Seller), the more it will fall....
Gold, Silver, Base Metals, Crude, NG all may show corrections to test previous mid term levels....
Levels to sell will be posted as and when it is clear.....
To some extent please watch following levels for possible reversal......It may or may not go till these levels....
Safe traders can sell below last week's low....( Mark last week low) or wait and watch the correction levels...
Gold : 25413 or 25600
Silver : 34900-35065 zone or 35750+
Copper : 350-353+ or 363 ( or sell below 332 only)
Zinc : 131.20
Lead :115+
Aluminium :105.75
Crude : 3060+ or 3184...or 3277-3284 zone
NG : May not show correction but still if it corrects maximum it can go is till 177+ to 179+ levels...or 183.60 level