Last week, we have seen high volatility in Gold and Silver and we will expect same panic in next 2-3 trading sessions too as all eye on FOMC meet which is scheduled on late Wednesday
Today's trading range and levels
Gold
Support at 29450 and Resistance at 29600. CMP 29480
Break and sustain below 29450 will take to 29300---29200 and then to 29050 mark. More and more downside panic will see only close below 29050 mark else it could test its resistance level of 29600 again
Break and sustain above 29600 with volume will see further upside rally till 29680---29750 and then to 29930 mark
Trade safely with levels only
Silver
Support at 37400 and Resistance at 38100
Close below 37400 will take to 37000---36600 and then to 36000 mark. Further downside panic will see only weekly close below 35700 level else it could test its resistance level of 38100 mark
Three consecutive closes + weekly close above 38100 will take to ???
Trade with levels only
Crude oil
Below 2550... we will see panic till 2480---2430 and then to 2350 mark in days to come
Hurdle intact at 2620
Copper
Support at 333---330 and Resistance at 340
Three consecutive closes + weekly close above 340 will take to 348---352+ mark in days to come else it could test its support level of 333---330 again
Further downside panic will see only close below 330 mark
Trade with levels only
More will be update soon!!
