SILVER (March 2012)
Silver has been unable to hold and cross 57500-58500 in last few week, and we have seen big fall. It made a low of 5216 but some support and short covering resulted in it closing at 53458. Now in this week, we may consider resistance at 56500-57000, downside support exit at 53000-52500, break and trade below, it will further downside target at 50000-495000-48500. Close above 58500, it will show real move but chances are very remote.
Trend Decider of this week: 54391.
COPPER (FEB. 2012)
Last week, it broke major support level of 410 and finally made a low of 386. Overall trend is bearish and sell on rise strategy. Now resistance at 398-400, and major resistance at 420. Downside support at 380-373 to watch out, once break and trade below bears may show power.
Trend Decider of this week: 411
After a long gap, finally broke major support level of 170 and heading towards the 140-143 mark in coming days. Bulls must avoid to buy side.