CRUDE (DEC)
Crude December as seen in the weekly chart, after making a high of 5275, fell sharply towards 5100 levels.
Support is now observed at 5120. If it breaks with volume then it can touch 4950. Trading below 4980 would trigger a sharp fall initially towards 4850, then 4800, and then finally towards the Major support at 4500.
Trend Decider of this week: 5182
Today: Check what happened yesterday... above 5200 we were bullish and more bullish above 5275, and it made a high of 5380 (against 5400)... Overall trend is bullish and decline to buy... above 5275-52502, no problem for bulls.
COPPER (FEB. 2012)
Copper February as seen in the weekly chart, found good resistance at 415 and lower side 404.
Support is now observed at 403-398. Trading consistently below 398 can give correction initially towards 388, then 380, and then finally towards 373.
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