Today on data front..
Traders have a focus on US unemployment claim data at 7pm. Previous data stood
at 267k and this time forecast is of 274k. Forecast figure seems to be positive
for bullion while negative for base metal
On the other hand...
Natural gas storage at 9pm. Previous data stood at -32B and this time forecast
is of -54B. Forecast figure seems to be positive for Natural gas
Trade with levels only
Gold
Not able to
breach its resistance level of 25280 and crashed vertically to 24912 mark. We
recommended selling below 25050 level
Now what to expect???
Support at 25050 and
Resistance at 25280
Below 24900 will see
further downside panic till 24800---24650 mark in days to come else it could
test its resistance level of 25050 and then to 25130---25180--- 25280 again
Further upside rally seen
only close above 25280 mark.
Traders can trade with
levels only as we will expect high volatility in evening session.
Anything
seems will update via App
Silver
Support at 33200---32900
and Resistance at 33800
Three consecutive closes +
weekly close below 32900 will see free fall in Silver else it could test its
resistance level of 33800 again
Close above 33800 will take
to 34050---34200 and then to 34550 mark
Further upside rally seen
only weekly close above 34550 mark
Traders can trade with
levels only
Copper
Support at 315 and
Resistance at 318.50
Close below 315 will take
to 312---310 mark again else it could test its resistance level of 318.50 again
Close above 318 will
take to 321---324. 324 act as major hurdle in Copper. Three consecutive closes
+ weekly close above 324 will take to ???
Trade with levels only
Zinc
Told to buy around 102.50.
Just made a high of 107.45.
Now what to expect???
Three consecutive
closes + weekly close above 105 will see nonstop rally in Zinc till
109--112+ mark in days to come
Maintain stop loss below
104.20 on closing basis
Nickel
Support at 555 and
resistance at 576
Two consecutive
closes above 576 will see further upside rally till 593---600+ mark in days to
come
Fresh selling can initiate
only close below 555 mark
Trade with levels only
Crude oil
Two consecutive closes
below 2440 will take to 2360---2330 and then to 2250 mark else it could test
its resistance level of 2500---2540 again
Further upside rally seen
only close above 2540 mark
