Gold traded to its six-year high on Tuesday as the protest going on in Hong Kong and also Argentina currency crashed which is creating concern about the global economy which turning investors towards Gold as Gold is symbolized as safe-haven for the investors.
Crude oil traded sideways on Tuesday over deep concern of slow global demand and also US production of Crude oil is rising while other major producers are cutting output which is supporting the price of Crude oil.
Technical outlook
Gold (Oct
Support is at 38300 and resistance is at 38700.
Close and sustain above 38700 will take it to 39000--39300 marks or else it could touch its support level of 38300 again.
Fresh selling can be done on a close below 38300 levels.
Trade with levels only.
Silver (Sep)
Support is 44000 and Resistance is 44600
Close and sustain above 44600 will take it to 45200---45550 marks or else it could touch its support level of 44000 again.
Fresh selling can be done on a close below 44000 levels.
Crude Oil
Support at 3850 and Resistance at 3950.
Trade within the range and wait for the confirmation.
Natural Gas
Support at 147 and Resistance at 152.
Close and sustain above 152 will take it to 157—160 marks or else it could test the support level of 147 again.
Fresh selling will do on a close and sustain below 147 marks.
Trade with levels only.
Copper (Aug)
Support at 443 and Resistance at 448.
Close and sustain above 448 will take it to 452—455 or else it could touch its support level of 443.
Fresh selling will do on a close below 443.
Trade with the levels only.
Nickel (Aug)
Support at 1090 and resistance at 1140.
Trade within the range and wait for the confirmation. The major trend is positive.
Zinc (Aug)
Support at 183.50 and Resistance at 186.50.
Break and sustain above 186.50 will take it to 188.50—190 marks or else it could touch its support level of 183.50
Fresh selling can be done on a close and sustain below 183.50.
Trade with the levels only.
Lead (Aug)
Support at 152.50 and Resistance at 154.50.
Break and sustain below 152.50 will take it to 150.50---148.50 marks or else it could touch its resistance level of 154.50 again.
Fresh buying will do on a close and sustain above 154.50 levels.
Trade with the levels only.
