This past week in lead has lost 3.9 rupees and on last trading session gained 1.1 rupees. Lead down moves are just stunts, overall trend is up until it breakout my support trend line (look at above chart) so I would like to recommend “buy in May and go away” – for short term investors.
For sellers: Do not forget to keep eyes on 113.5 level. If lead will break this level then we see big downtrend and it can touch 111-106 levels.
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MCX Aluminium will continue drill downward. It should hit 105.4-104.4 before next Friday. Intraday traders must be keep eyes on opening bell. Negative opening will generate huge seller’s entry.
Buyers should wait for 104 level. It’s a small support of aluminium.
Crude palm oil moving higher and higher over 9 months and from last 4-5 weeks it’s just adjusting corrections. This week is very crucial for the CPO because it goes down / close below to 544 level then it uptrend will be over this week.
I am expecting unbeatable up moves this week. If crude palm oil not break or stay above to 544 level then we will see 560-572+ levels. Short term investors may start buying from deep. More information I’ll be update during the market hours for premium subscribers.