Gold traded sideways on Tuesday near to its two weeks high supported by the concern of the global economic slowdown and tension in the Middle East but on the other hand improvement between Sino-U.S.
trade tones weighed on prices
trade tones weighed on prices
Crude Oil traded sideways on Tuesday after weak economic data from Europe and Japan as the market focused on the outlook of the demand and also uncertainty around supply disruptions in Saudi Arabia causing mixed sentiment in the market
Gold (Oct)
Support is at 37700 and resistance is at 38000.
Break and close above 38000 will take it to 38200—38400 marks or else it could touch its support level of 37700.
Fresh selling will do on a close below 37700.
Trade with the levels only.
Silver (Dec)
Almost both levels achieved in Silver as recommended to buy above 47700….
Now, what to expect??
Support at 47600 and Resistance at 48200.
Break and close above 48200 will take it to 48500—48700 or else it could touch its support level of 47600.
Fresh selling will do on a close below 47600 only
Trade with the levels only.
Crude Oil (Dec)
Support at 4080 and Resistance at 4170.
Break and close below 4080 will take it to 4020—4000 marks or else it could touch its resistance level of 4080.
Fresh buying will do on a close above 4170.
Natural Gas (Oct)
Support at 179 and resistance at 183.
Break and close above 183 will take it to 186—188 marks or else it could touch its support level of 179.
Fresh selling will do on a close below 179.
Trade with the levels only.
Copper (Sep)
Support at 439 and resistance at 446.
Break and close below 439 will take it to 436—433 marks else it could touch its resistance again.
Fresh buying will do on a close above 446 levels only.
Trade with the levels only.
Nickel (Sep)
Nickel crashed yesterday as per our level unable to break its resistance level of 1280 and told to fresh sell below 1250, below 1250 made low 1189….
Now, what to expect??
Nickel has support at 1185 and resistance at 1260—1280.
Trade within the range and wait for the confirmation.
