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Wednesday, June 29, 2016

Update on Bullion and Base Metal 29 June 2016









Gold




Support at 31300 and Resistance at 31550

Decisive break and sustain above 31550 will take to 31800---32000+ mark in days to come else it could test its support level of 31300 again

Close below 31300 will see further downside panic till 31150---31080 mark

Trade safely with levels only






Silver



Support at 42600---41850 and Resistance at 43000

Two consecutive closes above 43000 will take to 43800---44500+ mark in days to come.

Fresh selling can initiate only close below 41850 mark








Copper


Support at 321 and Resistance at 327

Close above 327 will see further upside rally till 330---332 and then to 435+ mark in days to come else it could test its support level of 321 again

Trade with levels only








Nickel


Our upper side hurdle and target intact 640---655. Three consecutive closes + weekly close above 655 will take to ???

Immediate support at 610









Zinc



Support at 138.50 and Resistance at 141.50

Close above 141.50 will take to 144---145.50+ mark in days to come else it could test its support level of 138.50 again

Further downside panic will see only close below 138.50

Trade with levels only








Lead



Support at 114.30 and Resistance at 117.20

Two consecutive closes above 117.20 will take to 120---121.50+ mark in days to come

Fresh selling can initiate only close below 114.30 mark

Trade with levels only







Aluminium



Support at 108.50 and Resistance at 110

Close above 110 will take to 111---112.50 mark else it could test its support level of 108.50 mark

Trade with levels only














    More will update soon!!