Gold
Below 29820... it looks weak and could test 29700---29550. More and more downside panic will see only close below 29550 mark else it could test its resistance level of 30000 again
Gold is trading with negative bias... Upper side seems choppy and chances are unlikely to breach its resistance level of 30600 in near terms
If every thing goes right then we will expect sharp downside move in coming weeks
At this stage... Don't jump on any conclusion. Just remember hurdle at 30000---30300---30450----30600
Anything seems will update via App
Silver
Today we recommended buying in Silver around 41350 with stop loss below 41100. We exited around 41250
Now what to expect???
Support at 40700 and Resistance at 42000
If it unable to breach its support level of 40700 then it could test 41600---42000 mark. 42300---42800 act as major hurdle and unlikely to breach its resistance level of 42800 in near terms
Close below 40700 will see further downside panic till 40200---39800
Intraday, Silver could be supportive but trade with levels only
Copper
Support at 312 and Resistance at 320---324
If it unable to breach its support level of 312 then it could test its resistance level of 320---324.
312---309 act as major support in Copper
Base metal looks highly choppy and has no clear direction... Traders can try to trade with in and out strategy
Anything major seems will update via App
Crude oil
Yesterday... We indicated that above 3025 it could test 3200---3300+ mark in days to come. Just made a high of 3113
Now what to expect???
Still looks positive and could test 3140. Close above 3140 will take to 3190---3220 and then to 3300+ mark in days to come else it could test its support level of 3025---2980 again
Further downside panic will see only close below 2940 mark
Traders can try to get an opportunity to buy Crude oil in panic around 3050---3020 with stop loss below 2940 on closing basis
More will be update soon!!
