Copper Weekly Medium term Update

Copper Prices After topping out For medium Term at 10150 LME prices Corrected till 8400 Levels in wave A of 2 , Now Looks like to have Completed the Corrective   Wave B at 9640 of wave (2) . Failure to Cross The Recent highs Could Push price Again Down till 8400 & 7700 in Medium term as wave C which mark end of Wave (2)

What next on Silver ? A Contradict Move to Massive Up Move

Failure to CLOSE ABOVE 39.2 $ On Daily closing Basis Could Lead to MASSIVE reversal downside 

Daily Trading Levels , MCX Supports And Resistance , Commodities , Base Metals

BASE METALS 

Copper : Trend Sideways - Range Bound - 
Important Resistance 411-412 ,Close above same one can expect levels of 419-420.

On downside 398-399 Important Support range. Below which we can test 385/390
Levels on upside   405-408.5-411-413

Lead : Trend Up

Lead reverses from major resistance zone given earlier  Major Resistance zone remains at 116-116.5
Sustained move above 116-116.5 can do 118.5-119 on upside
On downside 112.5-113 support for intraday.. 107.5-108 Major Support range for the comm

Zinc : Trend Slightly Bullish

Zinc reverses from major resistance zone given earlier  Major Resistance zone remains at 116-116.5 
ABove 101.5 if sustains then may do 103-103.5

MInor Support at 98-98.5. On downside 95-95.5 Important Support range

Nickel : Trend Sideways 

Important Support near 955-960 Levels , Major Resistance zone 1000-1005 on Upside
Nickel buy above 1000-1005 range with stop of 990, can do 1035/1040 on upside 
Trend Reversal if it closes above 1010.. Levels on downside 980-960-950

Silver update

Silver Looks to have Completed 5 waves down From Recent High of 49.7 & looks like time For Seriously Sharp Pull back , if the 5th wave gets extended Breack of 32 $ would be a confirmation of same , than Can Extend till 28.4 ..but When we Look at other Precious metals Charts Along with it Should See a bottom near these levls and again pull back to 44 Levels in coming days 

Mcx trading Levels For Day

Support & Resistance For The day

Gold 21835--21960-22040-22210-22333-22486

Silver 68300-69180--70400--71650

Copper 428.6-435--439-442-445
Lead 115.4--116.8-118.2-199.6-121
Zinc  102.4--103.6-105-106.6-108
Nickel 1188-1210-1234-1252--1284

Crude Oil 4850-4934-5010-5160-5240
Natural gas 192.5-195.6-197-200.4-204

#Silver medium term view

Looking at silver weekly charts for past decade the rally which started from almost 3.50 $ to current price of 38.5$,it clearly looks likes near end of extended massive bull run of 5 waves and now could get into corrective phase (wave 2 a-b-c ) for next few months. Any new high on silver would be a good sell opportunity or a break of 36 dollar would confirm a medium term top and we could look at short term downside targets of 32.5 $ and 27 $

Snapshot :

#silver break of 36$ could confirm a medium term top & correct down till 32.5$ and than 27$ , $slv , Good sell on rise #askchirag any new highs or rallies good setup to create shorts