Gold and silver showed bearish movement because US dollar was weak more pressure on US dollar can drag gold and silver to new lows. In coming session more weakness can be seen in bullion’s. Selling gold and silver would be a profitable strategy. Natural gas showed bullish movement and in coming session more bullishness can be seen. Buying natural gas would be a profitable strategy. Crude oil was volatile and showed bearish movement and then it reversed and made new high. Crude oil trend is bullish and in coming session more bullishness can be seen. Buying would be profitable strategy.
1). Gold held steady, supported by an easing dollar and weaker Asian stocks on Wednesday, a day after it closed higher for the first time in 10 sessions.
2). Oil prices slid Wednesday as investors adopt a cautious stance ahead of the weekly U.S. crude inventory data and the biannual OPEC meeting, both scheduled for Thursday.
Gold today showed bullish movement in morning session but bearishness showed in evening session after US data. Sustaining below 28800 again drag it up to the support level of 28500. On higher side if some correction happens then 28250 will act as strong resistance level.
SILVER over all showed sideways to negative trend. Now bearishness may again drag it upto the support level of 38000. On the other hand 39000 will act as major resistance level above only some correction may be seen.
MCX Crude opened on lower note and showed bullish movement in evening session. Now bullishness may bounce it towards the resistance level of 3375. And on lower side 3220 will act as important support level.
Copper opened on lower note and correct on higher side in evening session. Now if it maintain above 313 then 317 will act as next resistance level. On other hand 308 will act as important support level.
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