Gold:
Overall short term Gold remains buy on dips above 26000.....Look for buying opportunity....
Gold is trading in overbought zone .....so expecting a pullback any time....Gold has resistance at 27330 and support at 26850....
Break on either side will decide further movement of Gold...Break of 26850 can take gold to 26500, 26200 levels....
Break of 27330 can take gold to new high 27390-27450+ and may be more....BUT FAILURE TO MAINTAIN ABOVE 27390 CAN TAKE GOLD TO LOWER LEVELS....( IT MAY BE REVERSAL AND MAY CONTINUE LONG TERM DOWN TREND)
Base Metals:
Most of the base metals are consolidating.....and expecting a breakout on upside....
Wait for breakout as follows.....
Copper : Upside 339 - downside 324
Zinc: Upside 120.50 - Downside 115
Lead : Upside 115.50 - Downside 109
Energy:
Crude and NG both are consolidating and expect a pullback upside....for short term only....Long term trend remains Down......
Crude: Upside 2850 - Downside 2700
NG: Upside 182 - Downside 168
Targets after breakout will be previous highs....trail sl to keep your profit intact....
Overall short term Gold remains buy on dips above 26000.....Look for buying opportunity....
Gold is trading in overbought zone .....so expecting a pullback any time....Gold has resistance at 27330 and support at 26850....
Break on either side will decide further movement of Gold...Break of 26850 can take gold to 26500, 26200 levels....
Break of 27330 can take gold to new high 27390-27450+ and may be more....BUT FAILURE TO MAINTAIN ABOVE 27390 CAN TAKE GOLD TO LOWER LEVELS....( IT MAY BE REVERSAL AND MAY CONTINUE LONG TERM DOWN TREND)
Base Metals:
Most of the base metals are consolidating.....and expecting a breakout on upside....
Wait for breakout as follows.....
Copper : Upside 339 - downside 324
Zinc: Upside 120.50 - Downside 115
Lead : Upside 115.50 - Downside 109
Energy:
Crude and NG both are consolidating and expect a pullback upside....for short term only....Long term trend remains Down......
Crude: Upside 2850 - Downside 2700
NG: Upside 182 - Downside 168
Targets after breakout will be previous highs....trail sl to keep your profit intact....