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Tuesday, March 22, 2016

Update on Bullions, Basemetals and Energy 22 Mar 2016





Gold




We exited from our sell call in Gold around 28950 and given fresh buy call around 29090---29060. Just made a high of 29340





Now what to expect???


Support at 29150---28900 and Resistance at 29400

Traders can buy Gold in panic around 29150---29100 with stop loss below 28900 for the initial target of 29400

Fresh sell only close below 28900 mark









Silver





We recommended buying in Silver around 38000. It jumped and made a high of 38291 and now trading around 38200






Now what to expect???


Support at 37400 and Resistance at 38400---38700


Either side break or close with volume will decide further... Till then traders can trade in a range with in and out strategy


Anything seems will update









Crude Oil





Told to buy around 2730 with stop loss of 2700. Also recommended to book full profit around 2785---2790






Now what to expect???



Support at 2700 and Resistance at 2790---2840

Below 2750... it could test 2720---2700. Further downside panic will see only close below 2700 mark else it could test its resistance level of 2790---2840 again

Further upside rally seen only weekly close above 2840 mark

Traders can trade with levels only
 






Base Metals





Copper has Support at 335---332 and Resistance at 340---344


Nickel has support at 570 and Resistance at 585---600


Lead has support at 120.50---119.00 and Resistance at 123---124.50


Zinc has support at 122---120.50 and Resistance at 125.50---127









Aluminium





Support at 99.00 and Resistance at 101.50


Traders can trade safely with levels only and wait for confirmation as trend looks choppy. 
















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