Also in commodity market our
- Gold sell call gave 500+pts gain (27770 to 27220)
- Natural gas sell call gave 26 pts gain (143 to 117)
- Crude Oil crashed to our lower target levels almost 3-4 times giving almost 200pts profit in sell side (5152 to 4964)
- Silver support-51940 proved out to be real bouncing level from where silver bounced almost 4000pts.
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This week, as long as the 5080-5127 level, is not crossed bulls will take some rest & bears will attack decisively to drag down the markets. On the downside journey, support exists at 4980, and once this level is breached then expect sharp slide to 4930-4810-4740 levels. As we have told that 5080 is a resistance level, & if this level is crossed then bulls can inch higher upto 5127-5175-5205 levels, but the any upside above 5127 will be a resistance zone till 5205, for short term & if markets reverts back from there, then we expect that area to stop the rally and then continue the selling for a longer period. We are in a period now where the best thing to do is to book profits in long positions in resistance range (resistance zone can also be used to create fresh positional shorts) and buy again in support zone and not try to swing trade in and out of the market, as you might not get another good re-entry spot for shorts again. If we bounce any at all, then all upside above 5127 is now going to be resistance, and would be another good shorting spot. Any further bull action will only come only if markets are able to consecutively close above 5205 level. Best way to trade in these kind of markets is to follow the levels strictly, instead of speculating on the basis of expiry, day closing etc etc. Just think from manipulators point of view, think of it like this, if you tank the market (when no one is expecting it), then you can rally it later, when everyone is looking for a crash to occur.....and steal the masses money of course. Those who have wisdom, can read it & take their own decision for making money & not getting fooled by the big fishes of this share market ocean. Remember, manipulators are “the Fox” and we are “the Sheep”! They are trying to steal your money, so don’t believe anything they say......we certainly don’t. Read the facts provided for knowledge & use your own wisdom to trade in this market.
- Gold till trading above 27200 level its good for bulls & can surge up towards resistance levels of 27580-27840. All long position holders must stay cautious, as next round of bull run will start only when it decisively crosses/closes above 27840 level. Break below 27200, favorable for bears.
- Silver resistance 56165, decisive crossover/close above this level will energise bulls for next super duper move till XX040 level.
- Crude Oil till trading below 4965 level, its looking weak once again for tgt-4900-4840-4750 & more. On higher side resistance 5055, if bulls are able to cross this then only hopes are alive for them for upside move.
- Natural Gas support-117, consecutive close below this level will invite bears for a massive party till 110-106 & more down levels. If bulls are able to hold above 117, then we can see a bounceback till 121-127-135.
- Copper support-416-407 & resistance-429-435
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