Last week’s fall in commodities prices is the next best thing to have happened for the long term sustainability of the commodity bull run. The rise was excessive. The fall is good reminder to the retail investors who kept buying at every decline that prices can fall sharply. It’s all about gravity. If you throw a ball in the air, the speed of the fall of the ball is always multiple times faster than the speed of the rise. The simple basic rule which more than eighty percent of the traders forget while investing and end up in the red and curse the market. The markets are not cursed, it is the investor/trader who is a curse to himself when he constantly makes trading losses. Why? My experience shows that in most of the loss making trades the trader must have been at a profit but he did not book the profits due to greed.
Last weeks fall happened in just ten to fifteen trading sessions in a year out of over one hundred and fifty trading session. But if you are caught on the reverse side on such trade and you sleep on the reverse trades, then you will be sleepless later on.“Sleep versus Sleepless” it is for you to decide. (Excerpts from the weekly report).
COPPER -- MAY FUTURE
Copper has to hold $347.90 on closing basis in short term to be in bullish zone and target $370-$385 once again.
NYMEX CRUDE OIL --FUTURE
$95.48 should attract buying interest at lower levels. Resistance at $103.60 and $106.20.
HAPPY PROFITABLE TRADING
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-- Posted Monday, 24 March 2008 | Digg This Article | Source: GoldSeek.com
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