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Nickel just touched support trend line and jumped upside in last trading session! And also small support level 558.5 is a little far away. Do you think, nickel will remain in the downtrend this week or go upside?
What had I written about MCX Silver and NCDEX RMSEED & Coriander in the previous newsletter? First, click here and read it now.
What I said
SILVER: I have to say, write, 38300 level somewhere. If Silver close below this level then you will see 38000 – 37500 – 37000 below levels in the upcoming day.
CORIANDER: No Mixed Opinion & No Confusion: Direct Commodity Trading Decision for Coriander
Targets: 6260-6170
RMSEED: If Rape Mustard Seed (RMSEED) will close and cross 3722 level then sell without any worry!
Targets: 3670
Did you know, Silver touched the 1st target and just missed 5 rupees yesterday to hit the second target. Coriander touched all targets and Rape Mustard seed is on the way!
Now the big question,
“Silver will touch 37500 and 37000 targets?”
I was saying sell silver from last two weeks. Check out my previous newsletter: click here
…But today, I don’t think we should sell!
I have to say, write, 38300 level somewhere. If Silver closes below this level then you will see 38000 – 37500 – 37000 below levels in the upcoming day.
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? To become a subscriber, subscribe to our free newsletter services. Our service is free for all.
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 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.
Soya oil 12 Months low level and last closing level has an only Rs.1 difference!
It’s Top opportunity for Agri Commodities traders. You must not miss this opportunity! If it will close below to 621 level then sell and hold for 616-611-600 levels.
Yesterday metal sector was going down. Look at Top Losers chart, if you will excerpt Agri commodities then metal sector commodities can be in top 5 losers list. If you’re planning to sell today any metal, then wait… Today it’s recovery time! But if we look at zinc, I don’t think we should wait for more. Look at my MCX Zinc report by click here.
You can see in the chart, Zinc support is 171.4 level. Yesterday, it had closed at 168.40 (-2.06%). Do you think Zinc will touch 163.2 level before this weekend?
Unlock This ArticleCrude oil is going to show the negative price in opening bell. It’s a big trap! You must keep your eyes on $52.90 level. If crude oil breaks this level, then we can see $52.60 today.
If it will remain above to $52.90 then nobody can stop the crude oil to touch $53.20 – $53.40 level.
