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Monday, August 1, 2016

Update on Gold, Silver, Copper and Crude Oil 01 August 2016







Gold




Support at 31250---31000 and Resistance at 31600

Looks positive and could test its resistance level of 31600. Close above 31600 will see more upside rally till 31800---31900 mark. Further upside rally will see only close above 31900 mark

Fresh selling can initiate only close below 31000 mark

Intraday traders can buy Gold around 31250---31200 with strict stop loss below 31000 for the initial target of 31400---31500---31600








Silver


Support at 47200----46800 and Resistance at 48200

If it unable to breach its resistance level of 48200 then we will see panic till 47200---46800 mark. 

Fresh buying can initiate only close above 48200 mark

Trade with levels only








Copper



Support at 327---324 and Resistance at 331

Close above 331 will take to 335---338 and then to 344 mark else it could test its support level of 327---324 again

Further downside panic will see only close below 324 mark

Trade with levels only







Crude oil



Support at 2730 and Resistance at 2810---2850

Close below 2730 will take to 2650---2620 else it could test its resistance level of 2810---2850 again

Further upside rally will see only close above 2850 mark

Trade with levels only





















More will update soon...