AS PER OUR SILVER SELL CALL INITIATED TO SHORT ABOVE 37.40 & 38.10 ; AND FRESH SELL CALL INITIATED @ 36.80 IS STILL “ACTIVE”..HOWEVER OUR COPPER SETIMENT WAS ALSO BEARISH ..BUT YESTERDAY DUE TO ITS PRICE MOVEMENT TRADER’S AND MOST OF THE INDICATORS SUGGESTED A LONG IN COPPER FOR TARGET OF 416/417…BUT WE STICKED WITH OUR SHORT POSITIONS..TODAY COPPER MADE A HIGH OF 410.85 AND THEN SHARPLY FELL TO MAKE A NEW LOW 405.50.
TREND : BEARISH
IN THE CASE OF SILVER..FEW TRADER’S & INDICATORS ARE SUGGESTING LONG IN SILVER @ 37.15 FOR A TARGET OF 38.50..BUT WE STILL HOLDING OUR SILVER SHORTS WITH A WEEKLY RESISTANCE @ 37.60..TRADER’S WHO DOESNT HAVE THE RISK APPETITE CAN CLOSE THEIR POSITIONS … OR CAN GO LONG ..BUT WE ARE STILL FIRM WITH OUR SHORT POSITIONS…
TREND : BEARISH
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