Commodities Weekly Roundup
If we see Major commodities by Top Losers then crude oil took the 1st place. It lost -212 rupees (-6.20%). Natural gas also dropped on warm weather predictions. In my previous weekly newsletter (click here to read), I had said, “if it (crude oil) will remain down and close below to 3400 level then sell for 3300-3200 for next week!”
And as I said, “crude oil made low 3195 and closed at 3208 in loss -93 rupees (-2.82%)”.
I hope, everybody booked profit at 3200 level (Earned Rs.20,000/lot) in last trading session!
Where crude oil go now? Keep reading… The answer is below!
Futures-based ETPs: Precious Metals -1.04%, Industrial Metals -0.32%, Energy -6.64% and Agriculture -2.08%.
In last week all major commodities were down and Gold & Aluminium tried best to remain upside. Look at bottom of this article for weekly MCX Top gainers and Top losers.
Is Silver Best for Sell Today?
Someone asked during the phone call, where gold will go? while I was saying everybody SELL Crude oil. Opportunity is most important. If anyone thinks, GOLD is my favorite and I want to trade daily in Gold then I don’t think it works all the time! You must jump on the right commodity at right time!
Silver is better than gold in this week.
If it will crossover and close below to 41160 level then you can sell for 40952 – 40760 levels.
What will happen if it will remain above last trading session high? You must subscribe to know everything!
MCX Lead & Nickel – Technical Analysis
The lead had lost -5.6 rupees in last week and closed 139.10 level. You must check my previous week newsletter to study Lead chart by click here.
MCX lead had broken uptrend line and it can go more down from here if we see closing below 139 level.
On this week, the lead may go downside up to 134 – 132 levels if it runs as above mention.
Do you think nickel will more down this week?
I think silence is the best answer. Read my previous week newsletter by click here.
CRUDE OIL: Wait for Good Entry Level & Print Money!
Crude oil is running very fast downside. It can take some rest and may try to run 3300 this week. I will not say perfect entry level this week.
…But Crude oil will hit 3170-3140 levels soon.