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Wednesday, June 1, 2016

Update on Bullion, Base Metal and Energy for Evening Session 01 June 2016





Gold




Support at 29000 and Resistance at 29150---29240

Break and sustain below 29000 will take to 28800---28650 mark. More and more downside panic will see only weekly close below 28500 mark else it could test its resistance level of 29150---29240 again


Further upside rally will see only close above 29240 mark


Trade with levels only







Silver



Support at 38350 and Resistance at 38800---39150


Close below 38350 will take to 37800---37500 mark. More and more downside panic will see only weekly close below 37500 mark else it could test its resistance level of 38800---39150 again


Further upside rally will see only weekly close above 39150 mark


Traders can trade with levels only







Copper



Support at 305.50 and Resistance at 315---318


Either side break or close with volume will decide further. Till then traders can trade in a range with strict stop loss and wait for confirmation


Anything seems will update via App






Lead




Support at 113.40 and Resistance at 114.80---115.40


Close below 113.40 will take to 111.40---110.80 and then to 109.50 mark in days to come else it could test its resistance level of 115.40 again. 


115.40---117.30 act as major hurdle in Lead. Traders can trade with levels only.





Zinc




Support at 127 and Resistance at 131


Two consecutive closes below 127 will take to 123---121.50 mark in days to come else it could test its resistance level of 131 again


Three consecutive closes + weekly close above 131 will see non stop rally in Zinc


Trade with levels only




Natural Gas





Support at 153.50 and Resistance at 156


Close above 156 will take to 159---161+ mark in days to come else it could test its support level of 153.50 again


Break and sustain + close below 153.50 will see further downside panic till 150---148 and then to 145 mark in days to come


Trade with levels only


































More will update soon..!!