Copper update - Weekly chart

Copper after consolidating has given a breakout with near term support around $ 290 and can target $ 320 to 335. MACD is in positive zone and the two upward trend line could act as support for long term and intermediate term

Silver Weekly chart

Gold update with weekly chart

Gold has been making higher high and higher lows for past few months.

From the chart is clearly visible its trading above the inverted Head and shoulder pattern and the target for this pattern is around $ 1260(closing basis) to 1330.

Now with MACD is indicating negative divergence with price hitting new high and MACD is lagging behind and RSI too indicating overbought, it better to enter on dips with stop loss $ 980 for long term. Longs can move the stop loss to $ 1100 to protect the profits and can re-enter around the support levels given in the charts.

If Gold closes above$ 1130 for consecutive days, in next few days, then there can be huge short covering and last phase of panic buying with target of $ 1250 in short term.

Reliance with weekly chart

Reliance near term trend with chart

Nifty 50 stocks performance