Base metals specially Copper was so strong that it didnt correct much & went up like a rocket & pulled mostly all others along with it. I have informed my client well in advance that its heading for 270.80 the moment it broke 249 on closing basis. Yesterday it could not break that level and fell few points. Above 270.80 what level it can show..ask me...Apart from Copper Aluminium was strong & is still very strong. Zinc is also showing a decent strength & can break its previous highs soon. Lead & Nickel are yet to join the party...Exact levels only for clients..
Crude is also non trending so yesterday we picked up short at 3152 levels for targets of 3130/3100 and it went down till 3112 and shot up. Now how to trade it further is another good question...The most difficult thing in trading is to handle a non trading stock or commoditiy. Crude is one of them now.
Gold & Silver as expected has shown decent rise yesterday & we booked partial profits in Gold at 14920 (actual target was 14940) & Silver at 22300 (actual target was 22430 which is completed today). Still more to come..
Natural Gas is again non trending but it has broken a nice resistance of 192 yesterday and went up with nice volume. We might see some more upside till 199.2
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