GOLD: (Feb 2012)
Gold February as seen in the weekly chart, found resistance at 29433, fell sharply lower towards 29000, and finally closed lower.
Support is now observed at 28980. One can buy around the level and if it cannot maintain levels, further below strong support is seen at 28470. Trading consistently below 28500 could trigger a sharp correction initially towards 28250-28150.
Trend Decider of this week: 29159
Today: Sell-on-rise... Below 29000, downside target of 28300.
SILVER (March 2012)
Silver March as seen in the weekly chart, found resistance at 58000, then fell sharply lower towards 56000, and closed at 57000.
Support is now observed at 56200-56000. Trading below 56000 would give correction initially towards 55650, and then finally towards 55500.
Trend Decider of this week: 56813
Today: Sell-on-rise strategy... As long as below 58500, bear favor.
Crude December as seen in the weekly chart, after making a high of 5275, fell sharply towards 5100 levels.
Support is now observed at 5120. If it breaks with volume then it can touch 4950. Trading below 4980 would trigger a sharp fall initially towards 4850, then 4800, and then finally towards the Major support at 4500.
Trend Decider of this week: 5182
Today: Check what happened yesterday... above 5200 we were bullish and more bullish above 5275, and it made a high of 5380 (against 5400)... Overall trend is bullish and decline to buy... above 5275-52502, no problem for bulls.
COPPER (FEB. 2012)
Copper February as seen in the weekly chart, found good resistance at 415 and lower side 404.
Support is now observed at 403-398. Trading consistently below 398 can give correction initially towards 388, then 380, and then finally towards 373.