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Monday, July 4, 2016

Update on Bullion, Base Metal and Energy 04 July 2016








Bank Holiday in US due to Independence day. So we will expect low volume trades in evening session. Be cautious in evening session trade. Anything seems will update







Have a look on levels!!








Gold




Support at 31700 and Resistance at 31850

Break and sustain above 31850 will take to 32000---32050 and then to 32200 mark else it could test its support level of 31700 again

Close below 31700 will see further downside panic till 31550---31400 and then to 31250 mark

Trade with levels only







Silver



Support at 47000 and Resistance at 48700

Close above 48700 will take to 49000---49300 and then to 49800 mark in days to come else it could test its support level of 47000 again

Further downside panic will see only close below 47000 mark

Trade with levels only






Copper



Support at 332---330 and Resistance at 340

Looks positive and could test its resistance level of 340. Two consecutive closes above 340 will take to 344---345 and then to 348+ mark in days to come

Support at 332---330

Further downside panic will see only close below 330 mark

Trade with levels only






Nickel



Told to buy Nickel above 656. It flared and made a high of 697.90

Now what to expect???

Support at 676 and Resistance at 700

Two consecutive closes above 700 will take to 725---740+ mark in days to come

Immediate support seen at 676







Zinc




Support at 142 and Resistance at 145.50

Close above 145.50 will take to 148---150+ mark in days to come else it could test its support level of 142 again

Further downside panic will see only close below 142 mark

Trade with levels only







Lead



Support at 124 and Resistance at 127

Close above 127 will see further upside rally till 130---132+ mark in days to come else it could test its support level of 124 again

Further downside panic will see only close below 124 mark

Trade with levels only






Aluminium




Support at 111 and Resistance at 112.20

Close above 112.20 will take to 113.50---115+ mark in days to come else it could test its support level of 111 again

Further downside panic will see only close below 111 mark

Trade with levels only






Crude oil



Support at 3280---3250 and Resistance at 3320

Break and sustain above 3320 will take to 3350---3380 and then to 3450+ mark in days to come else it could test its support level of 3280---3250 again

Further downside panic will see only close below 3250 mark







Natural Gas



Support at 194 and Resistance at 200---202

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















More will update soon!!