Gold traded sideways on Monday as the dollar weakened and investors sought more clarity on the "phase one"trade deal between the United States and China. On the other hand, Crude oil traded higher near three-month
highs, supported by last week's announcement that an initial trade deal had been reached between the United States and China.
Today, traders should concentrate on the Empire State Manufacturing Index along with Flash Manufacturing PM
and the NAHB Housing Market Index from the house of the US which will impact metal, Bullion and Energy segment
If the forecast figure match with the actual data then the possible impact are as follows:
Technical Level
Gold (Dec)
Support at 37800 and Resistance at 38050.
Break and sustain above 38050 will take it to 38200-38300 or also it could test its support again.
Fresh selling will do on a close below 37800
Trade with the levels only.
Silver (March)
Support is at 44200-43700 and resistance at 44700.
Break and sustain above 44700 will take it to 45200-45500 or also it could test its support again
Fresh selling will do on a close below 43700.
Trade with the levels only.
Crude Oil (Dec)
Support at 4230 and resistance at 4280.
Break and sustain above 4280 will take it to 4330-4350 or else it could test its support area
Fresh selling will do on a close below 4290.
Trade with the levels only
Natural Gas (Dec)
Support at 156 and resistance at 165.50.
ode within the range and wait for the confirmation
Nickel (Dec)
Support is at 1020 and Resistance is at 1035
Break and close above 1035 wilt take it to 1050-1060 or else it could test its support again.
Fresh selling will do on a close below 1020
Trade safely with the levels only.
Copper (Dec)
Support at 437 and Resistance at 447.
Trade within the range and wait for the confirmation
More will update soon.
