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GOLD Overall in consolidation range for the last week and unable to cross 27800-28000 indicating some selling pressure at higher level... As and when the picture will be clearer, till then wait and watch for clear break out /direction. Sell on rise - Our target - 25000+ Without trading level do not try to trade. SILVER As mentioned last week, strong support 52000 and once crossover 53800-54100 do not open short and easily move up to 56000 and it made a high 55879. However, a lot of hurdles at higher level, but at current level any dip to buying opportunity with consider support 54000-53500 and resistance 58240. CRUDE As mentioned last week, below 5300 do not hold any long position and play for short sell and it made a low 4963. Overall falling inventory in the USA looks weakness continuing and bulls look in defensive mood. Try to avoid bottom finishing, which is dangerous of your financial health. We may consider resistance 5275-5300 and trend decider of this week is 5045... More selling pressure once it will break 4900 level. COPPER This commodity continues showing strength, once it was traded above 400 and made a high 426. Wait for break out in upper level once it crossover......... and stay with decent volume. Overall trend is bullish and any dip to play for long side with tight stop loss. Buy on Decline- As long as hold......... View will change once the trade starts and closes Below...? ALUMINIUM Some support at lower level... Overall trend is positive looking to add in substantial open interest in last week. We may consider support range 108-110 and resistance 112... This week close eye this commodity. ZINC Trend is sideways and waiting for direction in either side. Trading range 97 to 103, any violation of range once side move in coming days.
Commodity Trading
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