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Tuesday, August 2, 2016

Update on Gold, Silver, Copper, Nickel and Crude oil 02 August 2016






Gold



Support at 31600 and Resistance at 31750

Close above 31750 will take to 31860---31900. Further upside rally will see only close above 31900 mark. Two consecutive closes above 31900 will see further upside rally till 32300---32450+ mark in days to come

Else it could test its support level of 31600 and then to 31450----31200 again

Fresh selling can initiate only close below 31000 mark

Trade with levels only






Silver



Support at 48000---47500 and Resistance at 48450

Break and sustain above 48450 will see more upside rally till 49000---49300+ mark in days to come else it could test its support level of 48000---47500 mark

47500---46800 act as major support 

Traders can trade with levels only... Anything seems will update via App







Copper



Support at 324 and Resistance at 330---334.50

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







Nickel



Support at 718---710 and Resistance at 730

Close above 730 will take to 745---760 and then to 790+ mark in days to come else it could test its support level of 718---710 again

Further downside panic will see only close below 710 mark

Trade with levels only






Crude oil



Support at 2670---2620 and Resistance at 2750

Break below 2670 will take to 2635---2620 mark. Further downside panic will see only close below 2620 mark but chances are bright for reversal in Crude oil from 2620 mark

At that point of time... Crude oil retraced some how 50% from it's recent peak and we will expect bottom fisher will grab the opportunity

Any reversal seems will update to our subscribers





















More will update soon...