Gold again failed to break 31466 last week and trading below 31466 level....but has sustained above 6 week MA....looking at Monthly chart RSI (6) is continuously touching 70 level but failed to break above it....this is not a good sign for Bulls....It has formed double top at 31380 level.....If break 31380 with volume then I will buy heavily.....Or I will buy at 30947 - 30950....
I have covered all my long positions and will see the price action during next week to initiate any fresh positions.....I hope it will come down a little (not much) and then go long on this.....lets see...
Zinc and lead....both are trading at it's support and next week I think there will be good uprun....I have added more long positions on this....
NG: As expected had taken a good fall below 208.....last week my SL was hit so had taken long positions at 192 ( my trailing SL for short positions)....I covered at 207 and was short till 197......
Now it is trading below 197.....193-197 is a reversal zone....Now I have no positions in NG ....I will wait to initiate fresh positions....I might take long positions for TGT 210-211+.....
Crude: I still kept my long positions initiated 2 weeks before.....Now kept a trailing SL 2900....Crude has big support at 2964....and it has bounced back from 2967 levels....I have added more long positions at 2970 for TGT 3400-3800 (long term)....