Gold trading in a tight range ahead of the FOMC meeting as.investors are waiting for clarity on whether the next round of U.S. tariffs on Chinese goods will come into effect this weekend or not. On the other hand, Crude oil also traded lower on Tuesday due to slowing global economic which also outweighed OPEC's deal with associated producers last week to deepen output cuts in 2020.
No Major Economic Data for the day.
Technical Levels
Gold (Dec)
Support at 37500 and Resistance at 37750.
Break and close below 37500 will take it to 37250-37100 or else it could test its resistance again.
Fresh buying will do on a close above 37750 levels.
Trade safely with the levels only.
Silver (March)
Support is at 43400 and resistance is at 43750.
Break and close below 43400 will take it to 43000–42800 levels or else it could test its resistance again.
Fresh buying will do on a close above 43750.
Crude Oil (Dec)
Support at 4130 and resistance at 4230.
Crude oil trading in a range. One can sell Crude oil on the rise around 4200.
Resistance and stop loss will remain above 4230.
Trade safely with the levels only.
Natural Gas (Dec)
Support at 156 and resistance at 161
Break and sustain above 18t will take it to 166 168 or else it could test its support again.
Fresh selling will do on a close below 156
Trade with the levels only.
Nickel (Dec)
Support at 960 and Resistance at 978.
Break and close below 960 will take it to 950--945 or else it could test its resistance again.
Fresh buying will do on a close above 978.
trade cautiously as it is trading around its crucial support level.
Copper (Doc)
Support it 437 and Resistance at 441
Break and close above 441 will take it to 446. 447 or else it could test its support again.
Fresh selling will co on cI close below 437.
More will update soon...
