I HAD WRITTEN FOLLOWING IN WHITE COLOR EARLIER BUT AFTER LOOKING AT WEEKLY CHART I HAVE CHANGED MY VIEW ON BASE METALS....lETS SEE....BUT FOR THAT NEED TO SEE BREAKOUTS ON DOWN SIDE AS IT IS TRADING AT TREND LINE SUPPORT.....UPSIDE IS NOT LIMITED....I WILL KEEP MY BUY POSITIONS AND OPEN SELL POSITIONS ALSO SEPARATELY TO KEEP LOSS LIMITED TILL I SEE BREAK DOWN...
I THINK I HAVE TAKEN A RISKY TRADE FOR UPSIDE TARGETS.....IF THE OPENING ON MONDAY IS GAP DOWN I WILL COVER ALL BUY POSITIONS....AS WEEKLY CHART IS SHOWING REVERSAL SIGNS TO TEST PREVIOUS LOW AS LONG TERM TARGETS.....LETS SEE....I MIGHT GO TO SELLING SIDE ON MONDAY....ZINC CAN FALL TILL 158 ( I WILL SELL till 189.70 sl 192.50) ...LEAD CAN FALL TILL 124-125 ( I will sell till 154.60.....149 AND 145 LEVELS TO BE WATCHED ON THE WAY).....COPPER TILL 332
I THINK I HAVE TAKEN A RISKY TRADE FOR UPSIDE TARGETS.....IF THE OPENING ON MONDAY IS GAP DOWN I WILL COVER ALL BUY POSITIONS....AS WEEKLY CHART IS SHOWING REVERSAL SIGNS TO TEST PREVIOUS LOW AS LONG TERM TARGETS.....LETS SEE....I MIGHT GO TO SELLING SIDE ON MONDAY....ZINC CAN FALL TILL 158 ( I WILL SELL till 189.70 sl 192.50) ...LEAD CAN FALL TILL 124-125 ( I will sell till 154.60.....149 AND 145 LEVELS TO BE WATCHED ON THE WAY).....COPPER TILL 332
During past few days Zinc and Lead had shown sell off /pullback from 199+ levels.....though my first target achieved (199+)....it was obvious for a pullback....
On daily chart both commodities are trading sideways but upside momentum....It will still show up and down movements for some more days.....Now for those who have stuck in buying at higher levels must have got worried about their losses....but nothing to worry about as again Zinc and Lead will show upside momentum soon.....
During next week I will look for buying signal...I will buy Lead between 149-151 if it comes there .....I have already opened buying positions at 151 and will buy till 149.15.....with SL 149 on daily closing basis for first target of 161.30....But this time I am sure that it will break above 165.15 strongly and show strong upside trend.....
Zinc I have already opened buy positions at 187.70 with SL 184 on daily closing basis for First target 195 and 210 last target....
Copper I have opened buy positions at 397 and will keep buying till 395.20 with SL below 391 for target of 452....
BUT IF MY SL HIT ON DAILY CLOSING BASIS THEN I WILL SELL FOR DOWN SIDE TARGET WHICH I WILL UPDATE LATER....