Gold traded higher on Thursday as uncertainty around the signing of the 'phase one' trade deal between the United States and China boosted safe-haven flows into the métal. On the other hand, Crude oil traded higher buoyed by a report showing lower U.S. crude inventories, by hopes of an end to the China-U.S. trade dispute and. OPEC-led efforts to constrain supply.
Today, traders should concentrate on the Unemployment Claims from the house of the US which will impact on metal and Bullions segment. If the forecast figure match with the actual data then the possible impact are as
follows:
Today, traders should concentrate on the Unemployment Claims from the house of the US which will impact on metal and Bullions segment. If the forecast figure match with the actual data then the possible impact are as
follows:
Technical Levels
Gold (Feb)
Support at 38725 and Resistance at 38860.
Break and sustain above 38860 will take it to 39020-39080 or also it could test its support
again
Fresh selling will do on a close below 38725.
Trade with the levels only.
Silver (March)
Support is at 46850 and resistance is at 47100.
Break and sustain above 47100 will take it to 47250-47400 or else it could test its support again.
Fresh selling will do on a close below 46850.
Trade with tho level only.
Crude oil (Dec)
Immediate support at 4350 and resistance at 4380.
Break and sustain above 4380 will take it 4430 -4450 or else it could test its support again.
Fresh selling will do on a close below 4350.
Trade with the levels only.
Natural Gas (Jan)
Support at 158.50 and resistance at 162.50.
Break and close above 162.50 will take it to 167-168 or else it could test its support again.
Fresh selling will do on a close below 158.50.
Trade safely with the levels only.
Nickel (Jan)
Support at 1040 and Resistance ct 1060.
Break and close above 1060 will take it to 1090 -1100 or else it could test its support again.
Fresh selling will do on a close below 1040.
Trade safely with the levels only.
Copper (Jan)
Support at 443 and Resistance at 446.
Break and close above 446 will take it to 449-45l or else it could test its support again.
Fresh selling will do on a close below 443.
Trade with the levels only.
More will update soon...
