Gold price continues to rise by today’s opening and settles above 30500 level, which supports the continuation of the bullish trend expectations on the intraday basis. The bullish trend will be suggested in the upcoming sessions unless breaking 30100 level and holding below it. The 3935 level showed solid support against Crude oil price attempts to decline, which pushed trades to rise and breach 4010 level and settle above it, we expect more rise in the upcoming sessions. Copper price under the effect of the intraday sideways range,the stability of the main support at 350 supports the price readinesst o resume the positivity in the upcoming trading by gathering new bullish momentum.
Gold prices remained supported on Monday, as fears of a potential trade war and political uncertainty in Europe boosted demand for safe-haven assets. The move sparked concerns over a potential trade war, which would have a negative impact on the U.S. economy, sending the greenback broadly lower.
Crude oil prices were higher on Monday, supported by hopes of fresh output cuts ahead of a meeting between OPEC leaders and U.S. shale producers later in the day.
Gold showed sideways to bearish movement and sustaining below level of 30500 now if it continues bearish trend then it can test support level of 30250 and if price sustains further then it can test next support level of 30119. On other side 30548 can be major resistance level.
Silver showed bearish movement and sustaining below major level of 39000 and if it continues bearish run it can test next support level of 38455 and further it can break support level of 38289. On other side 38892 can be major resistance level.
Crude oil showed sideways to bullish movement and sustaining above psychological level of 4000 if it continues further bullish run it can test resistance levels of 4149 and 4172. On other side 4023 can be major support level.
Copper showed bearish movement but made some recovery at the end of the day if it continues bearish run it can test major support levels of 448.35 and 445.80. On other side 455.25 can be major resistance level.
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