As mentioned Lead and Nickel were strong yesterday whereas other base metals could not match them. They are still non trending and yet to find a proper directional move. Yesterday short positions are built up in every base metal except Nickel. Infact huge number of long positions were built in Nickel but its also approaching its resistance area. Lets see if it wud be able to sustain and break that. Overall a confusing state so better avoid trading or trade with strict SL. Trade in those where trend is clear like Crude, Silver, Gas as you all know by now that I am a trend player and pick big positional calls..... :)
Crude is still falling as I said. This is how we book profits at the top. Hope you remember we have booked profits at 3480-3500 levels. Now it has broken its long term trendline on daily charts and is prone for more fall. Ask for support and resistance....
Wow...Gold consecutively taken a decent support 3rd day on its trendline so you can imagine once it will be broken it should give 150-250 points easily. I will post the chart for more clear picture.Silver as expected fell more and it broke and close below its super support of 21490. Do you guys think its heading for 20000????? Let me know :)
Natural Gas as mentioned is making new lows everyday. I had warned everyone that once it will break 189-190 zone it will become very weak and the same thing is happening here. Although its still weak but what level will act as a nice support?????
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