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Tuesday, October 20, 2015

Update on Bullions, Basemetals and Energy 20 Oct 2015





Gold



Not able to breach its support level of 26890 and bounced back to 27147. We recommended buying around 26950 mark

Now what to expect???

Close above 27060 will take to 27230 and then to 27400---27550+ mark in days to come

Fresh selling can initiate only close below 26890 mark





Silver




Support at 36600 and Resistance at 37300

Close above 37200 will take to 37500---37800. Three consecutive closes + weekly close above 37800 will take to ???

Else it could test its support level of 36600 again

Two consecutive closes below 36600 will take to 35800---35300 mark in days to come

Trade safely with levels only







Copper



Told to sell below 444.80 mark. It slipped and made a low of 339.85


Now what to expect???


Support at 339 and Resistance at 345

Close below 339 will take to 335---332 and then to 328 mark else it could test its resistance level of 345 again

Close above 345 will take to 349---352 mark. Further upside rally seen only weekly close above 352 mark

Trade with levels only 






Crude Oil



Support at 3020 and Resistance at 3080

Close below 3020 will take to 2970---2930 and then to 2880 mark. Further panic seen only close below 2880 else it could test its resistance level of 3080 again

Close above 3080 will take to 3130---3180 and then to 3250+ mark in days to come


Trade with levels only.





More will be update soon!!