Today's (24th March) view are updated @
http://mcxpert.blogspot.com -
Market view 24th March
Wow what a wonderful day!All commodities worked as expected and mentioned in my yesterday's post.
Aluminium we used as swing trading and it worked well for quick gains. I would rather wait now for any new entry in it.
Natural Gas as mentioned showed strength and has risen with increase of bull volume. Still looks good for longs.
Gold & Silver remains in the same volatile category. Trade with strict SL until trend is clear. Right now its being developed.
In base metals on higher levels profit bookings are taking place which is restricting bulls to win unanimously. Keep fighting...we will sell @ resistance & buy at support
Last but not least Crude. As mentioned earlier it has shown a significant strength in yesterday's trading and managed to close above previous heavy resistances of 2655 & 2674. In intraday sessions also it tried to break 2674 thrice and fell badly and tested a low of 2611 and has respected the support of 2580-2600 (given to clients to buy abv this) and bounced back sharply. More gains to come in coming weeks. Only concern is $ and if it will show some strength Crude will rise like a rocket.
Cheers
Abhi