Gold: currently trading at 1778.45. Just respecting my said
support zone around 1774. Day trading range 1745-1800. Range bound moment expected
between 1745-1800; immediate support seen at 1770 it will remain open for
retest of 1755-45 zones during the day. Trading below 1745 for some time will
invite more sellers and selling pressure may take it to 1710-1705 levels. Resistance
at 1788 above 1788 it will try to taste upper band of the range around
1800-1802 trading above 1802 for some time will support bulls and gold will
resume its bullish trend for 1820-1849
in near term. Buying in dips around 1705 can be good entry for buyers and selling
on rise around 1796-98 can be good trade for the day.
Silver: currently trading at 34.19, Day trading range will
remain between 33-35. Silver struggling near rising trend line support with
losing momentum. Immediate support seen at 33.90 below this major support for
the day is 33 failure below 33 will open down side range till 32 in short term.
Immediate resistance seen at 34.60 above 34.60 trading will remain open for
34.90-35.60 for the day. Selling below 33.90 will be good entry otherwise we
have to wait for some bullish development for the day.
Copper: currently trading at 3.4925trading range will remain
between 3.3000-3.6000. Short term trend bullish. Immediate support seen at
3.4550 below this selling pressure will take it to 3.300 and more down side. Respect
would confirm rally till 3.6000 above 3.6000 trading range will remain open for
3.7200-3.8000 and closing above 3.8000 would confirm a rally till 4.2000 in
short term. buying above 3.5950 will be good idea otherwise stay away risk
lever can take short position after a failure below 3.4550 for expected target
around 3.3000 for the day.
Crude: current price 98.13. Day trading range 94-100. Immediate
support seen at 97 a failure below 97 will take it to 95-94 in 1 or 2 trading
session respect is less likely but would confirm retest of upper band around
99-100.
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