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Monday, December 21, 2015

Update on Bullions and Energy 21 Dec 2015






Gold



On Friday... we clearly indicated that above 24965 will see rally till 25250---25400. Just made a high of 25250


Now what to expect???


Support at 25080 and Resistance at 25285

Break and sustain with volume + close above 25285 will see sharp upside rally in Gold till 25390---25450 and then to 25600+ mark in days to come

Else it could test its support level of 25080 again

Close below 25080 will see further panic till 24960 and then to 24800---24700 mark again

On Comex division, Above $1063 will see rally till $1089---$1110

Fresh selling can initiate only close below $1045

Trade with levels only







 Silver



Too clearly indicated to buy Silver above 33400. It flared and made a high of 34237 and now trading around 34150


Now what to expect???


Support at 33800 and Resistance at 34500

Still looks positive and could test its resistance level of 34500 again. Two consecutive closes above 34500 will see further upside rally till 34900---35300+ mark in days to come

Fresh selling can initiate only close below 33800 mark

Traders can trade with levels only







Crude Oil



Support at 2370 and resistance at 2405

Close below 2370 will take to 2330---2280 mark else it could test its resistance level of 2405 and then to 2480---2540 again

Further upside rally seen only close above 2540 mark

Trade safely with levels only... Anything seems will update.







Natural Gas



Not able to breach its support level of 114 and bounce back sharply to 122.50 and now trading around 122



Now what to expect???


Support at 118---114 and resistance at 125

Three consecutive closes + weekly close above 125 will see sharp upside rally till 133---138+ mark in days to come else it could test its support level of 118---114 again

Further panic seen only weekly close below 114 mark


We will expect high volatility in Natural gas in this week... So traders can trade safely in a range with levels only and wait for confirmation. Anything seems will update.







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