Base metals started melting from day before yesterday but they were non trending so advised clients not to buy any fresh positions in them. Yesterday gave them so nice support levels of base metals and all base metals bounced back sharply from those levels.
In Crude Oil first we picked up the breakout from the bottom above 2585 levels. I had written clearly on 29th April market view that until Crude closes above 2585 levels it is not strong. Day before yesterday we shorted Crude on top around 2955 levels & that was almost the top & it fell 130 Rs from there. We have Crude expiry today so stay cautious.
In Natural Gas also we traded both sides. First long from 197 till 226 and then short from 226 till 212. It fell even more.
Gold & Silver also big breakout above my levels. Now Gold seems a little more stronger than Silver. In Silver huge short positions are building up so at these levels stay cautious in longs.
For paid clients exact levels are given well in advance with proper trend guidance. Check in to know more......
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