As I said earlier that not all base metals are weak. Some are still strong. Although all base metals fell but the weakest fell the most & the strongest didnt fell much. Amongst all Lead & Nickel are strongest. The trend is still not clear so we will trade in them. We will buy near support & sell near resistances. Exact levels to buy or short are only for clients.
Crude oil after giving a nice dream run is suffering from some selling pressure & also the expiry forced some selling in it. Although its not weak but a trading range is getting developed. Will trade accordingly. Watch out for 2890 levels this week as an important resistance as long as Crude is trade below it.
Natural Gas also after running a lot is consolidating in a trading range now. We have already taken the best advantage of the trend. So let is consolidate till we see something interesting to pick.
Gold & Silver also has the same story. Although both brokeout last week but Silver seems a little weaker than Gold. Moreover a strengthening rupee is also a concern which might pull them down. Stay cautious in your long positions & trade with strict SL.
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