Base metals as mentioned earlier are rocking and daily making new highs. First Aluminium started the rally, then Copper & Lead joined the party and now Nickel and Zinc also came in form. Overall a decent run has seen and so far everything still looks good for more gains.
Gold & Silver are taking extreme support at lower levels & are bouncing back sharply from there. Now Gold can show more weakness only below 14460 & Silver below 23160. We might see some upside from here.
Crude oil is breaking all barriers & yesterday crossed its huge resistance of 3449. Now the doors are opened for further upside of 200-300 rs but remember the overbought condition is still the same so trade with strict SL. If it starts cracking we may see 200-300 points correction as well.
Natural Gas has shown a nice upmove after its inventory. Huge buying positions have seen in this counter which makes it a better choice for long term upmove. Although its still non trending but momentum is getting shifted from downside to upside so we might see some more upside today as well.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment