Precious Metals
Gold has support at 1800 and resistance at 1830. It may move upward till 18th February 2021. On 19th, lower opening is possible in Asian hours. After 11.00 HRS – 19th Feb, it may move higher. Silver has positional support at 24.90- if this level is not breached then it may cross …. View is more bullish for Silver.
Industrial Metals
Copper shall be highly bullish. It crossed 3.80. Next target would be 3.95-4.00. Copper has support at 3.68. Uptrend is indicated till 18th February. On 19th, profit booking is possible.
Energy
Crude Oil
Crude crossed 60. Support lies at 57. Oil may continue to move higher until 17th. On 18th-19th, mixed to negative trend is possible. From 22nd Feb to 11th March, downtrend is indicated. Over the weekend, one can short oil.
For now, you can buy 50% oil with S/L 58 for target 62-64.
Natural Gas
Short NG at 3.04-3.05 with S/L 3.10 for target 2.80.
US Stock Market
The market’s top may be made by 17th February 2021 around Saturn-Uranus square. On 18th-19th, downtrend is indicated. On 16th, range bound trend is expected. From the next week, ———. S&P500 has support at 3906 and resistance at 3952. DOW has support at 31200 and resistance at 31600. NASDAQ has support at 13700 and resistance at 14000. RUSSELL has support at 2250 and resistance at 2330.
Indian Stock Market
Indian market may behave overall supportive till 17th. On 18th-19th, downtrend is indicated. From next week, this downtrend can extend.
Nifty has support at 15000 – if closing is below this level then major drop is possible. Closing basis resistance for Nifty lies at 15300 – if crossed then it may move up to 15500.
Bank Nifty has support at 35800 and resistance at 36800. If it closes below 35800 then major drop is possible.
Please follow the technical levels. On Tuesday, market may be in a tight range. On Wednesday, positivity may be observed.