Friday, May 29, 2009

Market View for 29th May

Base metals expiry game is on thats why we are seeing both side movements. So avoid trading today being the last day of expiry. Will have the clear picture on coming Monday.

Crude Oil still rocking & is heading for 3145/3176 in coming days.

As mentioned yesterday I clearly said avoid shorts in Natural Gas at these levels, see what has happened. Natural Gas has bounced rose sharply with good volumes. I would say abnormal volumes more than double were seen in this. Next halting stations are 192.7 and 197.

Gold & Silver as mentioned are still positive & trending upside now. See how Silver just dipped 100 points from its previous close and rose sharply to kiss its resistance level of 23681. A close 23681 above can get more strength in it.

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