Friday, June 5, 2009

Market View for 5th June

Base metals seems to be very volatile. Something was cooking in Aluminium that is why when entire base metal pack was down day before yesterday Aluminium was standing as it is. Yesterday when other metals rose some Aluminium rose handsomely 5+ points. Overall I wud say the picture is still not clear so wait until it becomes clearer.

Gold expiry was done yesterday & as I said day before we have seen huge volatility & Silver was also influenced with this. Yesterday Silver fell from the resistance I had given of 24600 & had taken support at 23655 mentioned clearly.

Crude Oil still looks good & should rise more.

Natural Gas is non trending and will continue to be volatile. Yesterday due to the inventory up is fell badly but we have seen a sharp bounce from its extreme support levels of 169.2 & again given intraday gains of more than 10+ points.

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