Saturday, 22 January 2022

Commodity View for week of 24 to 28 January 2022

Crude Oil 

Crude is short term brearish and Long term bullish....Short term target near 6000. However Crude can move up till 6490-6556 zone and then fall from there for target of 6000...... 

and long term target near previous high. I will look to buy near 6000 or below 6000 depending on price action confirmation.

Gold

As per my opinion Gold has turned bullish and can go and break all time high this year....it will move up and down though....need to find right profit taking areas and re buy areas again and again....my short term target will be near 48800 to 49000

Now from present level Gold still has a possibility to fall till 48000-47800 zone and then bounce back....Gold till it is above 47650 level is buy on dips...I have bought Gold with stoploss 48150....if it breaks below 48150 then I will look for buy near 48000 zone with Stoploss 47770

                                                                                Silver


Silver has turned Bullish as per my opinion....Short term Target 69000....Silver has big resistance zone as it traded long time in there .....Once it breaks it It will be highly bullish....we will have to wait and watch....till then I will cover my buy positions on Monday....

I have bought with stoploss 64350....if break below and close I will not sell but wait for buying opportunity ......it may fall much to 62050 zone....there I will look price action to confirm buy. 

I will not trade Silver for some time....

Natural Gas


I am Bullish Long term on Natural Gas and waiting for confirmation to go Long on this....

305 to 307 is resistance and Buying zone near 283....if it trade above 307 then I will wait for it to fall till 283 again to confirm buy

Copper


Copper is Bullish On Long Term.... I have bought based on 4 Hr buying zone....for Target 767 and 770

Copper below 448 can fall till 444 but then short term trend will change to bearish for target near 720....

I think 2nd, 3rd and 4th Buy zones will be active only if it breaks above 762 reaches target zone of 767 , 770...from There it may come down to one of these buy zones again. I will not buy there, till I get confirmation on one of these buy zones. Will wait for price action. 

Copper is bullish on Long term....but it will move up and down till it breaks all time high.

Copper is bullish till it is trading above 716 - 720 zone....Copper has great chances to come to this zone after reaching 767 - 770.....

Zinc