Updates on Bullion, Metals, and Energy Levels 24th Dec 2019

Gold traded higher on Tuesday as weak U.S. economic data and concerns about an interim Sino-U.S. trade deal lent support to the safe-haven asset. On the other hand, Crude oil traded higher after Russia's energy minister said cooperation with OPEC to support the market would continue and as analysts forecast a second weekly decline in

Technical Levels 

Gold (Dec)

Support at 38250 and Resistance at 38400

Break and sustain above 38400 will take it to 38600

or else it could test its support again.

Fresh selling will do on a close below 38250.

Trade with the levels only.

Crude Oil (Dec)

Immediate Support at 4270 and resistance at 4330.

Break and sustain

above 4330 will take it 4400-4430 or else it could test its support again.

Fresh selling will do on a close below 4270.

Trade with the levels only.

Natural Gas (Dec)

Support at 155 and resistance at 160.

Break and close below 155 will take it to 152-148 or else it could test its resistance again.

Fresh buying will do on a close above 160.

Trade safely with the levels only.

Nickel (Dec)

Support at 1040 and Resistance at 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 (Dec)

Support at 438 and Resistance at 444.50.

Trade within the range and wait for the confirmation.

More will update soon..

Natural gas Technical outlook 20 Dec 2019

Technical outlook

Natural gas daily chart has formed “Descending broadening wedge” pattern. The last few sessions ended up in sideways trend inside the channel. The market is expected to continue on bearish momentum based on the price action, once the same breaks below a key support holding at 159. The downside rally could be testing all the way through 155-152 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test up to 166 level. Key resistance holds at 166.

More will upade soon...

Updates on Bullion, Metals and Energy Levels 19th December 2019

Technical Levels

Gold (Dec)

Support at 37800 and Resistance at 3800O.

Break and sustain above 38000 will take it to 38200-38300 or else 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 and resistance is at 44650.

Break and sustain above 44650 will take it to 45000-45300 or else it could test its support

again

Fresh selling will do on a close below 44200

Trade with the levels only.

CRUDE OIL

Support at 4280 and resistance at 4350.

Break and sustain above 4350 will take it 4400-4430 or else it could-test its support again.

Fresh selling will do on a close below 4280.

Trade with the levels only.

Natural Gas (Dec)

Support at 161 and resistance at 166.

Break and close below 161 will take it to 156 –155 or else it could test its support again.

Fresh buying will do on a close above 166.

Trade safely with the levels only.

Nickel (Dec)

Support at 1005 and Resistance at 1021.

Break and close above 1021 will take it to 1037 -1040 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 438 and Resistance at 445.50.

Trade within the range and wait for the confirmation.

More will update soon.

Updates on Bullion, Metals, and Energy Levels 17th Dec 2019

Gold traded sideways on Tuesday 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 Building Permits and Industrial Production m/m from the house of the US

which will impact metal, the Bullions, and the Energy segment. If the forecast figure match with the actual data then the possible impact are as follows:

Technical Levels

GOLD (DEC)

Support at 37800 and Resistance at 38000.

Break and sustain above 38000 will take it to 38250-38400 or else 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 44100 and resistance is at 44650

Break and sustain above 44650 will take it to 45000-45300 or else it

could test its support again,

Fresh selling will do on a close below 44100.

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 again.

Fresh selling will do on a close below 4230.

Trade with the levels only.

Natural Gas (Dec)

Support at 164 and resistance at 169.

Break and close above 169 will take it to 175 -180 or else it could test its

support again.

Fresh selling will do on a close below 164.

Nickel

Support at 1025 and Resistance at 1040.

at and close above 1040 will take it to 1055-1060 or else it could test

its support again.

Fresh selling will do on a close below 1025.

Trade safely with the levels only.

Copper (Dec)

Support at 442 and Resistance at 445.50.

Trade within the range and wait for the confirmation.

More will update soon...