Stock Market Institute (SMI) Commodities Weekly News Letter – Week 1

Posted By : Kishore B.S

Hi Friends,

With a view of keeping our audience updated about all the markets we have started with news letter for commodities, the first part of the same goes as below.

The markets seem to be moving up on daily basis but when observed seem to be range bound and time and again is failing to cross the Pivotal levels of 5438 which until breached with volumes may yield to range bound momentum of markets again between the 5330-5440 above the successful breach of 5440 the next fireworks to levels of 5520-5580 easily by the weekend. However going by the technical parameters the markets have been moving up too fast and too quickly resulting in the huge Overbought zone and hence a sudden downside or profit booking in view of the upcoming Contract Expiry to 5280-5240 levels cannot be ruled out.

Cheers!!

Team SMI

www.stockmarketinstitute.org

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