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Crude was very volatile of last week. It made a high of 5392, and finally big sell-off was seen due to increase in production by OPEC. Now in this week, we may consider resistance at 5100-5155-5275 and stay below, avoid fresh buy, and down side support at 4800 to watch out. Lower level, do not panic and some recovery cannot be ruled out.
Trend Decider of this week: 5082
GOLD: (Feb 2012)
As mentioned in this column that for the last two week, major resistance for safe playing for bull, 29400 and think to buy side, downside it must hold 28300. It was unable to hold major weakness, and finally made a low of 27000+, which indicates weakness to continue. Now in this week, we may consider resistance at 27800-28000-28300, downside support to watch out at 27000, decisively break with volume likely, nonstop target of 25800-25000 in a few sessions. Higher level, be cautious of any buy side. Sell on rise strategy.