Gold inched up on Thursday as investors awaited threatened new tariffs on Chinese goods this weekend will give some clear direction. On the other hand, Crude oil traded higher recovering from previous day loss after OPEC forecast a supply deficit next year and the US. Federal Reserve said the economic outlook was favouráble which supported the price of Crude oil. Today, traders should concentrate on the Core PPI m/m along with Unemployment Claims and Natural Gas Storage
from the house of US which will impact on metal, Bullions and Energy segment If the forecast figure match with the actual data then the possible impact are as follows
Technical Levels
Gold (Dec)
Support at 37650 and Resistance at 37850.
reak and sustain above 37850 will take it to 38000 - 38100 or el9 it tests its support again.
Fresh selling will do on a close below 37650.
Trade with the levels only-
Silver (March)
Support is at 43200 and resistance is at 44100.
Break and sustain above 44100 will take it to 44400-44500 or else it tests its support again.
Fresh selling will do on a close below 43800.
Trade with the levels only.
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 421O.
Resistance and stop loss will remain above 4230.
Trade safely with the levels only.
Natural Gas (Dec)
Support at 158 and resistance at 16350.
Break and sustain abovée 163.50 will take it to 168.50 -170 or else it could test its support again,
Fresh selling will do on a close below 158.
Trade with the levels only.
Nickel (Dec)
Support at 1005 and Resistance at 105.
Break and close 1025 will take it to 1040 -1045 or else it could test its support again.
Fresh selling will do on a close below 1005.
Trade safely with the levels only.
Copper (Dec)
Support at 439 and Resistance at 443...
Break and close above 443 will take it to 447--449 or else it could test its support again.
Fresh selling will do on a close below 439.
Trade with the levels only.
More will update soon.
