Yesterday base metals have shown a decent recovery. The volatile move was expected but it was for both the sides however we have seen it only for upside. It tells that they are still in a decent uptrend and weakness is not visible soon. Every dip should be used to buy until some long term supports are broken. Let the expiry day go by and we will start fresh positions from tomorrow.
Crude was also weak however it has bounced back unexpectedly and has ditched up all the bears. Only short term intraday positions can be taken based on intraday signals.
Gold & Silver have shown some sort of recovery after huge profit booking day before yesterday. I would still like to short them at resistances.
Natural Gas also bounced back unexpectedly inspite of being in a decent downtrend. It was weak till inventory and a sudden spurt was seen after inventory and it was consistent till the end. The long term momemtum is still down but short term its up. So better to avoid it till both matches.
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