WEEKLY COMMODITY OUTLOOK
SILVER:- Silver has terminated the flat correction at 17.325 & gave a major spike. This spike has come at good divergence in oscillators & has crossed the 2-4 trend line. It has major resistance at 18.28 & 18.535 & once these are crossed it will run up expressly towards the 20.00.
CRUDE:- The up move which commenced from the 71.09 is in the terminal stage of completion. At max it may make one more spike above 79.69 & which is not likely to go beyond 80.50 & then a downswing to 75.30 is likely.
NATURALGAS:- It has almost tested the range of 4900-4950 & we are of the view that at max after one spike it will head down towards the 4500.
COPPER:- Copper is going up with the very strong momentum. Now it is standing at the 61.2% retracement of the fall from 368 to 272 & may reverse anytime & head towards the 318.However the crack in the ongoing up move is mandatory for this decline to precipitate.
LEAD:- Last week it made the high of 2081 against our target of 2075.In the coming week we see this up move at least touching the 2117-2248 range & the decline
NICKEL:- Nickel is in very strong up move & we see it testing the range of 2130-2250 during the week.
ZINC:- Zinc has strong momentum & may test the range of 2165-2175.
Categories: WEEKLY COMMODITY OUTLOOK
Tags: WEEKLY COMMODITY REPORT
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