Now in this week over all trend is bullish and any dip / panic to buy side. However, there is not signals on the chart which indicate top out and play for short sell.. We may consider support is 52000-51800 range and 50650, whereas the resistance 5500-56500 in near term. Higher close on Friday indicate strong opening on Monday trading.
Lead Tips : Last week it was made a of 119 and unable to hold and finally also broken support level and made a low of 108.75 and closed at 111.30 which indicate near term weakness continue in this metal. We may consider resistance is 113-114 range and support 108, below further weakness up to 104.. Two close below 104 further down side and up move over in this commodity.
Nickel Tips : Strong volatile movement in last week, it was made a high of 1311.70 and low was made at 1151 and finally closed at 1180. Higher level selling opportunity and lower level panic to catch side. We may consider resistance 1215 and sustained above only up move, and it will test 1250, down side support 1150-1125 range watch out.
Copper Tips : Over all volatile trend in this commodity. Last week it was made a high 451 and broken support level 426 and finally tested 411 and closed at 423. Over all trend is bearish and higher level to sell side. We may consider resistance 430-435 range and reversal to sell side, down side support 416-406-400 range, higher level resistance 430 also watch out.
Aluminium Tips : Higher level some weakness were saw on last week trading. It was made a high of 117.40 and low was made at 112.80 and finally closed at 114.45. We may consider resistance 117 and 119.50, whereas the support is 114-112 range.
Natural Gas Tips : Last week price gained more than 3% in NYMEX due emergency shutdown of Japanees Nuclear plant due to earthquake to increase demand for liquid Natural Gas by the world biggest LNG consumer.
As per report released by the US Energy Department Natural Gas declined 71 billion cubic feet.
As expected last week it taken a good support at lower level and U turn were saw. It was made a high of 179.20 after a double bottom formation 169 and finally closed at 176.30 which indicate short term positive side. We may consider major resistance 184-185 range and real move only above that level.
Crude Oil Tips : After a strong move last week, some cool off were saw due to rise in production by Kuwait and other OPEX countries. Last week it was made a high of 4835 , big sell off were saw resulted a low 4500 and closed with negative bias. Short term trend down side. We may consider resistance4650, down side support 4422-4300, resistance 4650-4750 range.
